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

To: scaram(o)uche who wrote (14)	2/25/1999 11:15:00 AM
From: Biomaven	Read Replies (3) \| Respond to of 555

That's because your GILD play was made before the rest of the world woke up to the fact that the Glaxo news would impact GILD. Basically what you were doing is betting on increased volatility, rather than on any particular direction of stock move. Because you made the bet ahead of the market, you got to pay only normal premiums. My point was mainly that this sort of play doesn't seem to work when the rest of the world is already anticipating increased volatility. Peter