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

To: straight life who wrote (1479)	1/14/2000 9:26:00 AM
From: straight life	Read Replies (2) \| Respond to of 1754

U.S. Options - VISX vols rise, puts bought CHICAGO, Jan 13 (Reuters) - Implied volatility bounced up on Thursday in options on VISX Inc. (NasdaqNM:VISX - news) as the stock ebbed, while call rolling and put demand pumped up volume. ``Today, they've (vols) increased dramatically with the stock drop,' said a market maker in the option at the Chicago Board Options Exchange. ``The (implied) volatility in the Feb 45 line is around 122-124 (percent). It was probably in the 90s.' Volume also grew on Thursday, with some rolling out of the Januarys, which expire next Friday, and into February. Combined volume on the CBOE and American Stock Exchange totaled roughly 13,970 calls and 10,775 puts. ``Normal volume, I'd say, is about 3,500 (contracts) the last 5 to 10 days,' said the market maker of CBOE volume. In particular, he noted one large roll -- about 4,750 contracts -- out of the January 50 calls, which fell 3/8 to 2-3/4 on combined volume of 6,285 and open interest of 7,019, and into the February 40 calls, which were flat at 11-5/8 on interexchange volume of 5,760 and zero open interest. He also saw ``some naked buying in the Feb 45 puts,' which rose 1-3/4 to 5-1/2 on combined turnover of about 7,255 versus open interest of 438. California-based VISX designs and develops technology for laser vision correction, and the market maker noted some concern about competitive pricing pressures in that industry as well as continued uncertainty about a patent infringement case against VISX by rival laser systems developer Nidek Inc. VISX earnings also are due next week, which further heightened option interest, he added. VISX is expected to report on January 19 that it earned $0.38 a share during the fourth quarter, according to a First Call/Thomson Financial consensus estimate. VISX shares ended down 1-15/16 at 47-15/16 on Nasdaq market volume of 6.1 million.