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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Broken_Clock who wrote (13090)2/27/1998 1:47:00 PM
From: Teddy  Read Replies (1) of 95453
 
In other options activity:

After the Halliburton-Dresser deal came down
yesterday, the oil services sector took off on other theories
about potential M&A activity. Today, that movement had
cooled off some, surprising pro traders.

"It's quiet, we're not seeing much of the arbs," said one
institutional trader in New York. "This sector was beaten
down for so long, people are playing the index to get long.
They think this might be the beginning of something good."

Some may be thinking the opposite, as Philadelphia
Stock Exchange Oil Services Index (OSX) was down .08
to 103.71 today and one institution grabbed a 1,000 contract
position in the March 95 puts. On the call side of the OSX
ledger, the busiest option was the March 100 call, which
traded 260 contracts.
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