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Biotech / Medical : Biotech Derivatives -- Ignore unavailable to you. Want to Upgrade?

To: Merritt who wrote (354)	8/11/1999 3:18:00 PM
From: LLCF	Respond to of 555

<The Sept 30 calls are 2 1/2 (seems pretty rich to me) and the Sept 22 1/2 puts are 1 3/8.> Calls are 1 3/8... didn't look at the puts, but with the stock trading 26 they have to be at least 4 bucks. <I take it you don't feel there'll be enough volatility to justify a straddle> Normally no... but I believe this could be big news ONLY IF DISMISSED... long shot. That's why I don't like Puts for protection, no way INCY can lose in this round... could be delayed which would be status quo IMO. DAK