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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SJS who wrote (12466)2/22/1998 9:44:00 PM
From: Big Dog  Read Replies (3) of 95453
 
Steve, Thanks for responding. I know you have a good handle on these option strategies.

I will study your suggestions. Of course you know that I AM very bullish on FGII...if nothing else it moves up quick and that is the time to snag a nice profit.

If I owned the stock and it went to 25 I wouldn't sell it. So if I look at it that way there is not much risk in the bullish option play I mentioned.

The "protection" to 25 1/2 assumed I was able to sell the long calls at 4 1/2 at some point before expiration. That may be assuming a lot, of course.

If the stock goes down tmw, the puts will be worth more and the calls will be cheaper.

I will have a 4 hour drive in the moring to decide what to do.

Thanks for your input.
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