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Biotech / Medical : Ligand (LGND) Breakout!
LGND 203.99+2.4%11:02 AM EST

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To: Flagrante Delictu who wrote (14215)2/4/1998 4:01:00 PM
From: Michael Massimilla  Read Replies (1) of 32384
 
Actually LGNDW seems to be a safer investment than LGND.
Assuming you buy the same number of shares, it costs
less and you therefore have less to lose if the company falls
apart, not to mention having less of your money tied up.
The premium (about $1.75 right now) seems fair, given the
leverage and the 2 years of time value. The downside is that
LGNDW is usually fairly illiquid. If you want to trade in and out,
you can still establish the position in LGNDW and trade
LGND against it.
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