The American Stock Exchange on Wednesday said it will begintrading options in six biotechnology stocks on Oct. 21 undermore liberal options listing criteria recently approved by theSecurities and Exchange Commission.

The companies being added are California Biotechnology Inc.,Cytogen Corp., Epitope Inc., Genzyme Corp., Immunex Corp. andXoma Corp. Options on these stocks have been chosen forlisting on at least one other exchange.

Investors pay to purchase an option, which is a right to buy orsell a stock at a fixed price within a fixed period of time.

Options trading in two other biotech stocks has been delayed inresponse to concerns by exchange membership over theproliferation of new options. The options, for Repligen Corp.and U.S. Bioscience Inc., are expected to be phased in in thenear future.

Genetics Institute Inc. has been deleted from Amex's originaloptions list, a GI spokeswoman said, probably because thecompany's planned merger with American Home Products Corp.will decrease the stock's volatility. In addition, existing GIwarrants give investors an alternative instrument, she said.

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