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: The Ox who wrote (57115)	12/17/1999 3:16:00 PM
From: Mark Adams	Read Replies (1) of 95453

Great Catch! That DOW exercised specifically to participate in the distribution of the new RIG shares is of great interest to me, as a RIG holder and SLB watcher. That they would have missed the boat as a warrant holder was educational for me. But we don't know that DOW will continue to hold RIG following distribution, supporting Diana's position that RIG may be weak following the closure. Of course, DOW may also sell SLB... Might be smart of DOW to purchase puts on RIG to lock in today's price as a means of selling, which suggests it might be smart for us to watch RIG option volumes and Open Interest over the next few weeks.

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