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

To: Steve Tauscher who wrote (25867)	9/29/1998 10:30:00 PM
From: jayhawk969	Respond to of 32384

Steve, 1300 contracts at $87.50 per contract for a strike $4 out of the money, and historical low volatility, is no small wager. The $115,000 + is indeed interesting. I follow the option trading in LGND and this is huge by comparison. It is well over half of the total open interest in LGND calls. Obviously there was a level of pre-knowledge of the "Ligand Deal" announced today. I wonder if anyone with SOES II has an indication of predominant buying by one market maker the last couple of days? It might tell us who knows something. J.D.