Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 199.20

+0.1%

Nov 21 9:30 AM EST

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To: Arthur Radley who wrote (4593)	8/6/1997 6:12:00 PM
From: Dan O.	of 32384

OFF TOPIC Hey TD, You can't always know a seller's motivation. What if He (or she) bought 2000 lgnd at 12.5 and sold 20 nov 12.5c at 1.75. If he gets called out of his position in 3 months he has a 16% return. Or 64% annualized. If he doesn't get called, his purchase price for the lgnd is 10.75. Either way he wins. The only thing he loses is the opportunity to see his lgnd go to 30 in the next 12 months. Some people like playing that game. This particular time isn't very good for playing covered calls in lgnd because the options are so cheap. Option prices are a function of the underlying stocks volatility (among many things) and lgnd has been sitting between 12 & 13 for at least one soccer season.

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