Wednesday, December 6, 2006

BSX - Boston Scientific

Ahead of the Food and Drug Administration's 2 day panel meeting (Thurs and Fri) on the usage of drug coated stents we've picked up a hand full of the December 17-1/2 calls. This is a very risky trade and we may very well end up selling much of the position into any strength over the next couple of days as the meeting progresses, and we note that options prices have come down from the highs even as the stock held at around $17 through much of the afternoon.

Incidentally, we sold the CRDN Dec55 puts for a small gain of 4%.

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