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

To: Bucky Katt who wrote (24403)	6/19/1998 11:58:00 AM
From: Lazlo Pierce	Read Replies (2) \| Respond to of 95453

Want to share today's tale of woe (I have 'em on a daily basis). Yesterday AM, was thinking about options expiration. I decided SLB had some room to drop if the sector dropped. I checked out the June 70 puts, they were going for 1/8 x 3/8. and someone had bought 75 @ 3/8. So I out in for 20 @ 1/4 (figured a $500 gamble). SLB then made an upmove, so I (very wisely) moved my bid to 1/8. There were a few sales at 1/8 and 3/16, but I didn't get filled. I then heard the CAM/SLB rumors, and the stock started sliding (the bid had been 1/8 x 1/4 for awhile), so i went back and moved my bid back to 1/4. It didn't fill, and was back to 1/4 (me) x 3/8. I waited a few minutes and put it in @ 3/8. No fill, and I thought damn if I'm gonna chase it all the way up. So....... today they've sold @ 3 7/8. Lost out on nearly 8G due to stupidity and cheapness. (not to mention that I looked at the June 65 CAM calls @ 3/4!, which opened today near 11!) Dave