Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Henry Niman who wrote (13854)	1/29/1998 10:27:00 AM
From: Russian Bear	Read Replies (1) \| Respond to of 32384

<<If Farallon only owned ALRIZ when they shorted LGND, would that be shorting against the box (they owned LGNDW but not LGND)>> Henry, It is my understanding that the hedge you describe would NOT be a case of shorting against the box. SAB refers to the process of shorting a security that you have long, thus effectively yielding a zero-net position. The only twist is that you actually borrow the shares that you sell, thereby maintaining your own shares long, for tax reasons. RB