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Understanding Options 29
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We can use the option chain in Figure 8.8 to construct our condor spread. The options listed are $250 per point, and we would typically be looking at an option spread that is much wider than what is displayed so as to allow the market signi cant trading room, but we can get down the basics of the spread. We consider selling the May options because of the accelerated time decay and decreased time for the market to break outside the trading range. Assume a sale of the May 855 call option at 35.10 and the purchase of the May 865 call at 30.60 while selling the May 825 put for 40.50 and buying the May 815 put for 36.50. On the call side we net a credit of 4.50, and on the put side we net a credit of 4.00 for a total credit of 8.50. Our maximum risk is the distance between the two strike prices on either side of the market minus the premium captured, so in this case our maximum risk is 1.50 $250 or $375 plus costs of trading four option positions. The maximum pro t in this example is 8.50 $250 or $2,125. The risk-to-reward ratio on this condor is exceptional. Let s look at a model of the iron condor for pro t and loss in Figure 8.9. The model shows the maximum risk on both sides of the spread if the price was out of the range of the purchased option strike prices. 2008 barcode generator
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Figure 6.10 A&B Neck-lift with platysmal plication can be performed in isolation in those with a thin neck and minimal jowling
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Vestibular nucleus Cerebellum Restiform body 7th N nucleus Dorsal cochlear nucleus Descending tract and nucleus of 5th N Spinothalamic tract 8th N Lateral inferior pontine syndrome Medial inferior pontine syndrome 6th N Corticospinal and corticobular tract Pontine nuclei and ponto-cerebellar fibers 7th N Middle cerebellar peduncle Medial lemniscus
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laugh and smile (hence the old name happy puppet syndrome ) (see also Chap. 37). 11. Rett syndrome, discussed more fully on page 888, is mentioned here because it is due to a dominant defect on the X chromosome. It affects 1 of every 10,000 to 15,000 girls. After 6 to 18 months of normal development, motor skills and mental abilities seem slowly to regress. Certain handwringing and other stereotyped hand movements appear as the disease progresses and are characteristic. Several generalizations can be made about these chromosomal dysgeneses. First, the autosomal ones are often lethal (Rett syndrome is an exception), and they almost always have a devastating effect on cerebral growth and development, whether the infant survives or not. Anomalies of nonneural structures are regularly present an association so constant that one may safely predict that a normally formed infant will not have a detectable chromosomal defect. However, only in the Down syndrome and trisomy 13 (and possibly trisomy 18) are the physiognomy and bodily con guration highly characteristic. Surprisingly, some of the most grotesque dis gurements, such as anencephaly and multiple severe congenital anomalies, are not related to a morphologic abnormality of chromosomes. By contrast, an insuf ciency of sex chromosomes induces only subtle effects on the brain, affecting intellect and personality; to some extent this is true of supernumerary sex chromosomes (XYY, for example). The nature of the basic abnormality of the brain underlying the mental retardation in many of these chromosomal dysgeneses has not been ascertained. The cerebra are slightly small, but only minor changes are seen in the convolutional pattern and cortical architecture in conventional microscopic preparations. Neurocellular methodologies are not suf ciently advanced to reveal the fundamental cerebral abnormality.
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11: A SQL Primer
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Our last approximation algorithm is for a maximization problem and has a very impressive guarantee: given any > 0, it will return a solution of value at least (1 ) times the optimal value, in time that scales only polynomially in the input size and in 1/ . The problem is KNAPSACK, which we rst encountered in 6. There are n items, with weights w1 , . . . , wn and values v1 , . . . , vn (all positive integers), and the goal is to pick the most valuable combination of items subject to the constraint that their total weight is at most W. Earlier we saw a dynamic programming solution to this problem with running time O(nW ). Using a similar technique, a running time of O(nV ) can also be achieved, where V is the sum of the values. Neither of these running times is polynomial, because W and V can be very large, exponential in the size of the input. 276
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evidence of the organism by PCR testing in 35 percent of cases, according to a prospective study by Haanpaa and colleagues. Virtually any dermatome may be involved in zoster, but some regions are far more frequent than others. The thoracic dermatomes, particularly T5 to T10, are the most common sites, accounting for more than two-thirds of all cases, followed by the craniocervical regions. In the latter cases the disease tends to be more severe, with greater pain, more frequent meningeal signs, and involvement of the mucous membranes. There are two rather characteristic cranial herpetic syndromes ophthalmic herpes and so-called geniculate herpes. In ophthalmic herpes, which accounts for 10 to 15 percent of all cases of zoster, the pain and rash are in the distribution of the rst division of the trigeminal nerve, and the pathologic changes are centered in the gasserian ganglion. The main hazard in this form of the disease is herpetic involvement of the cornea and conjunctiva, resulting in corneal anesthesia and residual scarring. Palsies of extraocular muscles, ptosis, and mydriasis are frequently associated, indicating that the third, fourth, and sixth cranial nerves are affected in addition to the gasserian ganglion. A less common but also characteristic cranial nerve syndrome consists of a facial palsy in combination with a herpetic eruption of the external auditory meatus, sometimes with tinnitus, vertigo, and deafness. Ramsay Hunt (whose name has been attached to the syndrome) attributed this syndrome to herpes of the geniculate ganglion. Denny-Brown and Adams found the geniculate ganglion to be only slightly affected in a man who died 64 days after the onset of a so-called Ramsay Hunt syndrome (during which time the patient had recovered from the facial palsy); there was, however, in ammation of the facial nerve. Herpes zoster of the palate, pharynx, neck, and retroauricular region (herpes occipitocollaris) depends on herpetic infection of the upper cervical roots and the ganglia of the vagus and glossopharyngeal nerves. Herpes zoster in this distribution may also be associated with the Ramsay Hunt syndrome. Encephalitis and cerebral angiitis are rare but well-described complications of cervicocranial zoster, as discussed below, and a restricted but destructive myelitis is a similarly rare but often quite serious complication of thoracic zoster. Devinsky and colleagues reported their ndings in 13 patients with zoster myelitis (all of them immunocompromised) and reviewed the literature on this subject. The signs of spinal cord involvement appeared 5 to 21 days after the rash and then progressed for a similar period of time. Asymmetrical paraparesis and sensory loss, sphincteric disturbances, and, less often, a Brown-Sequard syndrome were the usual clinical manifestations. The CSF ndings were more abnormal than in uncomplicated zoster (pleocytosis and raised protein) but otherwise similar. The pathologic changes, which take the form of a necrotizing in ammatory myelopathy and vasculitis, involve not just the dorsal horn but also the contiguous white matter, predominantly on the same side and at the same segment(s) as the affected dorsal roots, ganglia, and posterior horns. Early therapeutic intervention with acyclovir appeared to be bene cial. Our experience with the problem includes an elderly man who was not immunosuppressed; he remained with an almost complete transverse myelopathy. Another rare complication of zoster, taking the form of a subacute amyotrophy of a portion of a limb, is probably linked to a restricted form of VZV myelitis. Many of the writings on zoster encephalitis give the impression of a severe illness that occurs temporally remote from the attack of shingles in an immunosuppressed patient. Indeed, such
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