Agouron Pharmaceuticals (AGPH) Message Board

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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: BarryH who wrote (2482)	10/26/1997 8:06:00 AM
From: Randy Schmid	Read Replies (2) of 6136

Barry - you should take some serious follow up action on the calls IMO. I don't see much probability of AGPH being above 55 1/2, which is your break even point. You may have the opportunity to "roll down" into a potentially profitable spread. Would be happy to go through the mechanics, but here's not the place. If you own or can get a copy of MacMillian's "Options as a Strategic Investment" you can find roll down explained in the follow up section of the Call Buying chapter. The time value of your Nov. option will begin serious decay in the next weeks, so the timeframe for taking loss limiting action will be this week. I will probably be taking some action this week as well - my position with Nov. 47.5s is profitable, mostly because I sold higher strike calls against it, and when the price dipped, I bought them back at profit, doing that twice has lowered the breakeven on my calls by paying for them partially. Regards, Randy

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