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

To: marc chatman who wrote (37126)	2/9/1999 2:35:00 PM
From: A. Geiche	Read Replies (1) \| Respond to of 95453

All the morning was surfing in all directions in hope to get some hint of changes in South Arabian attitudes. Nothing is there. Don't you see, folks, that there is no way they are going to surrender the quota that they stole from Iraq? And that, therefore, any further progress in OPEC negotiations is impossible? How about starting some demonstrations with demand of higher oil prices? Allah akhbar!! That is idea!

To: marc chatman who wrote (37126)	2/9/1999 3:27:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Anyone selling any puts here ? I just got 3 3/8 for 10 FGI Aug 12 1/2 contracts. If you see oil markets sorting themselves out by mid-year, they may be a reasonably conservative play. Looking to sell some FLC WFT PGO expiring during the summer. With FGI, worst case is I have to buy a 1000 in late-August at a net cost of 9 1/8 (+ commissions). Not much downside risk there since its only 9 points to ground zero.<ggg> Even if FGI is under 12 1/2 by August, there is likely to be at least one good run to the high teens in the interim so the possibility of buying back the puts a lot cheaper is another option. John