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: marc chatman who wrote (37126)	2/9/1999 3:27:00 PM
From: upanddown	Read Replies (1) of 95453

Anyone selling any puts here ? I just got 3 3/8 for 10 FGI Aug 12 1/2 contracts. If you see oil markets sorting themselves out by mid-year, they may be a reasonably conservative play. Looking to sell some FLC WFT PGO expiring during the summer. With FGI, worst case is I have to buy a 1000 in late-August at a net cost of 9 1/8 (+ commissions). Not much downside risk there since its only 9 points to ground zero.<ggg> Even if FGI is under 12 1/2 by August, there is likely to be at least one good run to the high teens in the interim so the possibility of buying back the puts a lot cheaper is another option. John

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