Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 197.62

+0.1%

Dec 24 12:59 PM EST

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To: bluejeans who wrote (19251)	4/17/1998 11:15:00 PM
From: WTDEC	Read Replies (2) of 32384

Bob, assuming today's trades were close-outs, there was a net position of 43 calls. This is very small in relation to the volume in the last 10 minutes. I think the public, on balance, buys calls and MM's supply them. If this is the case here, the MMs would have worked to keep the price at or under $15 to have as many options expire worthless as possible. Sine volume was large relative to expirations and MMs could not keep the price at $15, I conclude today's action was indeed bullish. I hope one of our resident experts will disect my analysis and point out any flaws. Investment truth is what counts.... Regards, Walter

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