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Non-Tech : Enamelon (ENML) - Does anyone follow this? -- Ignore unavailable to you. Want to Upgrade?

To: Laptev who wrote (537)	4/16/1998 12:11:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 863

>>>I see 20 November 7.5 puts and 20 August 10 calls were traded. Could certainly be 2 separate folks - but if it is the same person, I guess they are banking on some kind of nearer term run-up - then a real fall after August? This is a $5,600 play - but could result in significant upside if they are right.<<< Another possibility is that they think the stock will be range bound, and sold both the calls and the puts. In that case they collect $5600. More likely though is the possibility that they think the stock is going to fall, and sold the calls, and used the premium to buy the puts. That's called a synthetic short. I'm not too worried about a squeeze. Why would anyone put $1 million at risk in this company? But if someone runs it up like that, I'll just short some more. Shorts might panic in fundamentally sound companies, but the demise of ENML is inevitable, in my opinion. Barb