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Biotech / Medical : IMNR - Immune Response -- Ignore unavailable to you. Want to Upgrade?

To: jake burns who wrote (433)	6/4/1998 10:15:00 PM
From: Norman Nouskajian	Read Replies (1) \| Respond to of 1510

Those persons who are selling puts at strike prices below, say $12.50, are the smart ones who have great expectation of a substantial and sustained move of IMNR through expiration date. The buyers of these puts are either arbs, hedgers or uninformed. The first two only desire 10-15% returns, the last group are just uninformed speculators. The real winners are the sellers who, obvioulsy, have insight into a large and continuous move in the making. This is my analysis.