Cell Pathways (CLPA) Message Board

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Biotech / Medical : Cell Pathways (CLPA)

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To: StockMiser who wrote (328)	10/31/1999 3:32:00 PM
From: tuck	Read Replies (1) of 566

SM, No sweat. I was lying comfortably in bed in view of the clock with the tinny speaker phone on and my notebook on my lap. Since I was the designated driver last night, I woke up in surprisingly good mental shape this morning, and felt I did a good job of perceiving what I was hearing. The tone of the call and subsequent news may well influence my hedging strategy. I'm beginning to think ODAC approval is a slam dunk. The December calls I wrote on half the position expire a few days after the ODAC meeting (though the FDA could surprise and convene one sooner for Aptosyn, I wouldn't give that favorable odds). Thus I can buy them back with all the time premium pretty much gone from them that Monday. What I actually do depends on the share price at the time. If CLPA gets a big anticipatory run, I might hedge the whole position. If it stays here, I will let the whole position ride naked as Lady Godiva as the squeeze would likely begin then. If it dips I buy 'em back sooner. I don't see more than a couple of points downside between now and then. In sum, I really like my setup here. Cheers, Tuck

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