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

To: virgil vancleave who wrote (486)11/6/1997 3:54:00 PM
From: Brian Pastor  Read Replies (1) | Respond to of 998
 
What is the put volume. It could be an insider play, or simply someone covering themselves on a short sale. It is impossible to read the direction of a stock simply by looking at option activity. I've tried that several times "following the leader" with Borland and got burned big time with hundreds of options expiring worthless. My play on CEPH would be to jump in AFTER news on Myotrophin is released one way or the other. Its simply too speculative at this point in my view.



To: virgil vancleave who wrote (486)11/6/1997 4:00:00 PM
From: Brian Pastor  Respond to of 998
 
It is also interesting to note the Nov. 12.5 call's inplied volitility has seen some real increase in that you could have picked up the same call a couple of days ago, when the price was 12.5 or more, for 1.25 per call or less. it is tempting to follow the money on this one, but unless you watch it closely, trade by trade, you also cannot tell how many people are simply getting out of the call. After all, going into today, open interest was over 13k.


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