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

To: B.D. who wrote (13447)1/17/1998 11:18:00 PM
From: Andrew H  Read Replies (1) | Respond to of 32384
 
>>suppose one buys 1000 LGNDW's at 7, and then they go to 10. Can one sell them at 10, just like common shares, and take the $3000 profit? Or would one have to do some convoluted "exercise" thing and convert them to LGND shares for some fee? <<

Nothing dumb about it nor is anything convoluted required. They trade just like ordinary shares. Buy at 7 and sell at 10. Wish I had sold at 13 in hindsight. You only exercise them if you choose to. Otherwise sell and take your profit or loss.Or you can hold until June of 2000 at which time you had better sell quick or exercise.



To: B.D. who wrote (13447)1/17/1998 11:23:00 PM
From: Andreas Helke  Read Replies (1) | Respond to of 32384
 
I am not totally shure that you can actually buy or sell 1000 shares of LGNDW without moving the price. In general the bid and ask size is below 1000 an the trading is very illiquid. This also leads to huge spreads and you have almost no chance to get a order inside the spread filled. Therefore the warrants are a bad choice for short term trading. But in priciple you can buy and sell the warrants like any normal stock.

Andreas


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