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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: Dan O. who wrote (4594)8/6/1997 7:51:00 PM
From: Arthur Radley   of 32384
 
I agree with your scenario in that you don't know a seller's motivation, however, I was going on the assumption that the sell was someone closing out a position they had with the Nov 12.5 calls. I also agree with writing covered calls on LGND because if only one half of the things we/I thinks is going on with LGND actually occurs,I sure don't my upside potential limited by any call options.

As for option prices being a function of the underlying stocks volatility, I thought that options were created to prove that P. T. Barnum was right when when he said there is a fool born every minute.....especially, people like me that buy options.
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