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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Flagrante Delictu who wrote (12662)	12/16/1997 4:40:00 PM
From: Flagrante Delictu	Respond to of 32384

Bernie McDermott, Please don't read the last eight lines of my post my post 12662 because they contain an error that might be confusing to those trying to learn about options. I got distracted on the phone & lost my train of thought. What should have been written was not "To acquire3 a $12.50 straddle in LGND etc. Instead It should read. "To aquire a strangle on LGND, one might buy the Dec.15 put whose current price is $1.82 & also buy the Dec.12.50 call at $1.06 for a total cost ofd $2.88. You have thereby locked in or strangled $2.50 out of the market at a minimum & stand a chance to make a lot more shoulf LGND close above $15 or below $12.50. If the reader would please go now to my post# 12658 on the LGND thread, he or she will be able to pick up the balance of this long post. Sorry for your inconvienience Bernie McDermott. P.S. I'm afraid the act of trying to decipher this trio of posts may be more painful than the sexual torture Howard Barnum had in mind.