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To: Elmo Gregory who wrote (55912)	12/2/1999 4:35:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Elmo, (FLC Call action today). I'm not sure if there is a way to tell whether or not those were covered calls or naked calls. To me it looks like they are naked since it looks like they were bought on the ask rather than sold at the bid. Selling covered calls of that amount would not be bullish, but buying that many naked calls seems very bullish to me, but we all knew FLC was a great long term investment anyways, right? Bought back a little FLC 2 days ago. 90% E&P's here though... BHI's warning is a case in point.