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IN RE KURDOGHLIAN

BAP No. 82-1221, Bankruptcy No. LA-81-03126JB, Adv. No. LA-81-1899JB.

30 B.R. 500 (1983)

In re Garabed KURDOGHLIAN aka Gary Kurdoghlian, dba Gary's Jewelry, Debtor. BEAR STEARNS & CO., Appellant, v. Garabed KURDOGHLIAN aka Gary Kurdoghlian, dba Gary's Jewelry, Appellee.

United States Bankruptcy Appellate Panels of the Ninth Circuit.

Decided March 15, 1983.

Attorney(s) appearing for the Case

Jerome Monosson, Los Angeles, Cal., for appellant.

Lawrence C. Meyerson, Los Angeles, Cal., for appellee.

Before ABRAHAMS, HUGHES and KATZ, Bankruptcy Judges.

OPINION

HUGHES, Bankruptcy Judge:

Bear Stearns & Co. appeals from a judgment dismissing its nondischargeability complaint against debtor. We reverse and remand.

I

Plaintiff is a security broker whose business includes acting as a broker in the sale and purchase of options to sell or purchase securities, commonly known as "puts and calls." Options trading is considered highly speculative. See Matter of Greenwald,

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