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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (27685)	4/24/1998 5:45:00 PM
From: Exacctnt	Read Replies (1) \| Respond to of 132070

Tom, Be careful of AZA's warrants. They are somewhat confusing. According to their Form 10-K, one warrant allows you to buy 1/8 of a share of Alza stock at an exercise price at $65 per share. I believe that means you need 8 warrants and $65 to purchase 1 share of common stock. So there is a reason that the warrants are trading so low. I like Alza and have held it for years. Aside from the common, I bought into their first LYON at the issue date. I had some April $37.5 calls and sold half a week before expiration and the other half on the morning of the expiration day. Wouldn't you know, Alza ran up late in the afternoon and I missed the 5 point rise by a matter of hours.<g> Regards, Bob