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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Wowzer who wrote (64290)	4/11/2000 3:17:00 PM
From: Umunhum	Respond to of 95453

Rory, It didn't cost me anything. I sell puts and use the money to buy calls. It does eat up buying power but there is no margin interest. You just have to have a substantial amount of $$$'s in your account. If you were to do the same trade today, it would cost a few bucks. I did this trade when OXY was at $17. OXY was a screaming buy at $17. The street sold them off when they purchased Altura. Those who listened to the Conference Call* knew what a great deal it was for OXY (accretive immediately to earnings based on oil selling @ $19). Neither company (BP or Shell) were actively exploring the property. I believe both me, Slider and John Q Public were posting that we were buyers and what a great deal this was. The stock was near a 5 year low with oil above $30, crazy people. Here's a look at what the options look like today. quote.cboe.com FWIW I listened to the conference call in a motel room while traveling down to San Diego. The SI Gorilla and Kings thread met at the QCOM annual shareholders meeting. It was real interesting putting a face to all the posters. I hope we do have a Strictly Drilling party later this year, say when FLC hits $30. Buy FLC everybody its a no brainer at this point.