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

To: SJS who wrote (12489)	2/23/1998 11:42:00 PM
From: Big Dog	Read Replies (3) \| Respond to of 95453

Steve -- I put the trade on today at prices that were much better than I anticipated. I sold 93 March 30 Puts at 2.0625 (I was thinking I'd only get 1.50) and I bought 93 March 35 Calls at 1 (I was thinking I'd pay 1.50). So I ended up with about 10,000 coming in that was "left over" which will give me one point of downside protection on the put. So right now I am 10,000 in the pocket with 93 calls and no money outlay from me. So far so good. As long as FGII is above 30 by March expiration, I make money. And pretty good money for no cash outlay.