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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: margie who wrote (2930)	11/21/1997 3:51:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 6136

Hi Margie, you may be right, stocks to tend to gravitate to a certain strike price on options expiration. What's bothersome is that sometime after 3:00 it dropped fast...while the market regained to almost +50. It dropped with the market earlier, then while market regained, it fell further. I'll bet there is some news somewhere. Trading at almost twice the daily volume of late also. Could also be option related. I wouldn't sell my stock at this point either. The options I had to deal with though, so that I didn't get put (or forced to buy) another 2K shares. I already own more than that. sf

To: margie who wrote (2930)	11/21/1997 5:39:00 PM
From: Oliver & Co	Read Replies (1) \| Respond to of 6136

Someone bought today over 4,000 Dec $40 puts, this,IMO, is what dropped the price, because AGPH opened going up. And there are no news. I would like your oppinion. Who, outside of an institutional investor, can do such a volume?, Why?, is there inside info? Someone is betting on AGPH to drop to ~$35 by Dec. You are talking over 400,000 shares, over $16 million. What do you think? I can tell you that my broker was going bunkers. Thanks, JLL