NEW YORK (AP) -- The president of Medis Technologies Ltd., a maker of direct liquid fuel cell products, exercised options for 65,000 shares of common stock, according to a Securities and Exchange Commission filing on Thursday.

In a Form 4 filed with the SEC, Jacob S. Weiss reported he exercised 30,000 shares on Tuesday for $10.95 apiece and then sold them the same day for $18.40 apiece. On Wednesday Weiss exercised 35,000 shares for $2.93 and sold them for $18.42 apiece.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Medis Technologies is based in New York.