Agouron Pharmaceuticals (AGPH) Message Board

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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: margie who wrote (2939)	11/22/1997 8:22:00 AM
From: cherry grove	Read Replies (2) of 6136

Value Line Option Survey has been recommending Agouron Options for naked put writing since October. Remember, when someone buys a put, someone is also selling one. What I am saying is that SOMEONE pocketed a premium Friday afternoon on the December 40's for 4000 contracts or 400,000 shares at an approximate price of $3 for $1,200,000. Writing puts is a way of accumulating a stock at a discount to the current price (fair value or not). This is done by many funds and even the company at issue itself. Microsoft and Intel have pocketed billions of dollars over the years selling puts on their own stock that then expired worthless or ended up buying back their own stock at a discounted price. If all us investors remain cool and sit tight, I think we can squeeze out the shorts. If we panic and sell Monday, the stock price will go lower. Cherry

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