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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (1130)	9/4/1998 9:49:00 AM
From: dave g	Read Replies (2) \| Respond to of 10280

Youb will probably be fine but... just to play devils advocate... Can you cover the calls if it goes to 100? Personally I think that we could very easily see 75 by the end of the year based on analysts estimates and the behavior of the stock in the current market. Are you counting on the stock being dragged down by the market? Drug stocks are considered safe havens in down markets. It is possible that the money could flow out of stocks that have more global exposure into stocks like Sepracor.

To: Ed Ajootian who wrote (1130)	9/4/1998 11:36:00 AM
From: M. Ramle	Read Replies (2) \| Respond to of 10280

Ed: That is a relatively good play. Nevertheless and if you really believe in this company, what I would do (IMH) is once the price pops above $60, I would buy back your April 60 Calls at a loss and re-sell the April 70 Calls, thus widening your spread. My opinion is that once SEPR breaks out above $60 3/4, it should continue it's ascend into the upper $60's. Good Luck. Mazen