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To: SliderOnTheBlack who wrote (31234)	10/29/1998 2:24:00 AM
From: upanddown	Read Replies (1) \| Respond to of 95453

Slider HLX does look very undervalued. If you think HLX is going to be well north of $10 by March, why not sell the Mar 10 puts for maybe 2.50 and use the proceeds to buy a bunch of Mar 10 calls at 1 1/16 ? Less capital risk and a decent shot at a quadruple or better. I like buying calls and selling puts on the low-priced OS stocks where the downside on the stock seems limited by decent fundamentals. I mean is VTS going much below 10 or ESV to 5 or HLX below 6 ? Seems unlikely given the quality of the companies. My VTS Feb 12 1/2 and VRC Mar 7 1/2 have already tripled. In any retracement, I'am going to be looking more to the option side at least 4 months out. The call premiums look reasonable and the put premiums are sweet. JMHO. John

To: SliderOnTheBlack who wrote (31234)	10/29/1998 7:00:00 AM
From: Harold S.	Respond to of 95453

Slider, <ot> thanks for the clarification. One thousand of those HLX buys you saw were mine at 8 1/16. I sold my MAVK for a slight profit to buy the HLX after you pointed me in that direction. I did a little research and found a lot of the things you pointed out in you last post and could not resist buying at this level. I will undoubtedly add more on any weakness from here. Thanks again for the informative posts. P.S- UTI sure made a nice showing off their earnings release...holding above their 50 DMA.