Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Big Dog who wrote (10821)	2/6/1998 9:30:00 AM
From: Lucretius	Read Replies (1) of 95453

You say it lowers cost basis--- doesn't matter if you get called out. You don't own stocks to be able to sell calls on them. You might as well sell naked calls in that case. All I was saying was the guy aking about selling calls is a little late to the party at this point. When the stock looks to trending down or stagnate, but you have a more L-T approach, you sell on rallies. He should have been doing this in Dec and Nov when our stocks were getting wacked. Tod so now, in my eyes is late. These drillers should turn around and head for new highs in 1 to 2 months. The risk to me seems on the upside at this point. Remember the GOM lease sale is in mid March! I'm hearing bullish things already about the sale! -Lucretius

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