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

To: RXGOLF who wrote (24022)	8/5/1998 9:33:00 PM
From: jayhawk969	Read Replies (1) \| Respond to of 32384

Greg, I have sold covered calls,(not enough) and sold puts. I could be called any time on the puts, unfortunately not on the calls. I sold the 12 1/2 puts for 1 1/2. Now that I expect to be called between now and November I have sold calls at 10 to cover naked puts. I have collected a total of $3 1/2 in premium. I didn't expect to be called but it is part of the risk. I also have bought SRGN at .45 to .51. This has not played out fully, however, I do believe Ontak will be approved. J.D.