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To: Thean who wrote (1569)	8/5/1998 8:54:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 14427

thean, vrc is somewhat insulated over the next 6 months because of the backlog so i expect they will meet/beat untill oil recovers. i was thinking of longer term and using Steve Sohn's sell covered call straegy. Buy at 13 5/8 and sell sept 15 call for 1 1/16(mar 99 is 2 3/4). There is protection and if called out in sept then profit is 2 2/8, or 17%+. Worst case is buying varco for 12 5/8 in 3rd week of sept. Id vrc is still down then i would write again in sept. The covered write should work now since they are so oversold and premiums are still pretty good.I prefer vrc to fgii.