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

To: Ken Reidy who wrote (16234)	3/23/1998 11:07:00 PM
From: Big Dog	Read Replies (3) \| Respond to of 95453

Well, well, well -- what a day! I just waded through about 300 posts and can see you boys enjoyed slapping each other on the back. I gotta tell you a story...for those that followed my FGII bull spread...I was in deep do-do come Friday PM. There I sat with some joker putting me 9300 shares of FGII at 30 -- and the stock was at 27.50. Not a pretty picture. Yes, I did collect 2.06 in premium, but since I squandered 1 of that on calls I only had 1.06 left. Overall, it could have been worse. Then sand wedge calls me just as I have the pedal to the metal, eastbound and down on the super slab heading for Oil Town USA. He promptly declares, "We have achieved chubitude." (This means something very good has happened.) He tells me how the market it flying... I get to the office at 11. Fire up the systems and find FGII at 30.625 bid. So I call my broker and after a short 9 minute hold, I discover that I can sell the 9300 shares that got put to me as a result of the excersise of the option. I entered a sell order at 30.75 and got filled almost instantly. Now, Steve, this is not the way I planned this trade, but I feel very lucky to have my fat pulled from the fire. So not only did I get to keep all the premium, but I made 3/4 in the process. What a difference a day makes! I sold some covered calls on CDG today. I still am holding off on selling them on MDCO since I have a funny feeling they may be bought. No rumors, just a funny feelin'. Kinda like I get when lisa says nice things to me -- only different. I did have some mgmt of a NYSE driller call me today and ask if I had heard the rumor about two drillers merging. I said that I had not, but would he be so kind as to tell me. He didn't have names though -- or so he says. Don't be afraid to take profits. There will always be another bus come by. PK - Nice print. I'm jealous. big