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Elan Corporation, plc Message Board

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  • sponge_bob_is_no_square sponge_bob_is_no_square Mar 4, 2006 10:41 PM Flag

    made a final decision

    ". . . if eln at say 18 after approval on
    3/26, i'll sell the july 25's or 30's"

    So, I think you are now saying that you will
    sell out-of-the-money calls, not "deep in the
    money" as you wrote in message 939224.

    Why do I ask?

    Like you, I need to reduce my position, though
    not as much. I loaded up at under $4, so I am
    way over-weighted now. My plan is to sell
    calls, and let the market take me out. My
    dilemma is trying to determine which calls to
    sell. (Also, I will not have long-term gains
    until later this month, so I'm not inclined to
    sell the March calls.)

    P.S. My truck is small. A load for me is not
    many shares.

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    • selling covered calls is a better way to exit a stock or to lighten up on the amount of shares you have.
      if the news is good, i can't see the specialist or the hedge/short funds and the retail shorts being able to keep eln pps from going up hard. but don't underestimate their ability to once the pps starts to level off, to be able to drive eln pps back down some. we need funds to go long to counter any shorting or lowball throwing on L2 shares at the ask. little retail investors can't compete with that.
      right after ac meeting on 3/9 we will have our run. back to 17-where we before the leh bashing. at that time, i believe selling the 25's 2-3 months out is a good play. since my avg. is 5.76, it is a smart thing to take money off the table. right now, i really want to get the 2k on margin with a 15.55 pps in the green.
      my plan starts with ac meeting going well and T is fda approved for relaunch without stiff restrictions.-bucko


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