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

To: Ken Robbins who wrote (9030)	1/21/1998 2:21:00 PM
From: Ms. X	Respond to of 95453

What expiration did you buy? If you are within 6 weeks of expiration you will notice a big erosion on time premium. As a general rule with options: buy in the money and far out in your expiration. This eliminates two things that would move agains you. One being time erosion. Also, if you get close to your expiration and you still think the stock/index will move in your favor, role out your position to the next few months. Or cover calls with puts if you suspect a short term decline but you feel the stock/index will move up longterm. OSX should be responding to the upside since the oil service sector has reversed up. Best of luck.