UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
MARGOLIS, HARRY W.
222 Municipal Drive
Richardson, Texas 75080-3583
USA
2. Issuer Name and Ticker or Trading Symbol
CompuTrac, Inc.
LLB
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
11/1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director (X) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Chairman of the Board; Chief Executive Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, par value $.0|11/14/|M | |180,000 |A |$0.50 | |D | |
1 per share |1998 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock, par value $.0|11/14/|G | |10,000 |D | | | | |
1 per share |1998 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock, par value $.0|11/14/|G | |10,000 |D | |2,174,177 |D | |
1 per share |1998 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock, par value $.0| | | | | | |28,217 |I |By spouse |
1 per share | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option |$1.52 |11/14|D |V|225,000 |D |(2) |7/31/|Common Stock|225,000| |-0- |D | |
(right to buy) | |/98(1| | | | | |2000 | | | | | | |
| |) | | | | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Employee Stock Option |$.90 |11/14|D |V|108,000 |D |(3) |6/30/|Common Stock|108,000| |-0- |D | |
(right to buy) | |/98(1| | | | | |2003 | | | | | | |
| |) | | | | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Employee Stock Option |$.55 |11/14|A |V|333,000 |A |(4) |6/30/|Common Stock|333,000| |333,000 |D | |
(right to buy) | |/98 | | | | | |2003 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Employee Stock Option |$.50 |11/14|A |V|180,000 |A |11/14|12/14|Common Stock|180,000| |-0- |D | |
(right to buy) | |/98(5| | | | |/98 |/1998| | | | | | |
| |) | | | | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Employee Stock Option |$.50 |11/14|M | |180,000 |D |11/14|12/14|Common Stock|180,000| |-0- |D | |
(right to buy) | |/98(5| | | | |/98 |/98 | | | | | | |
| |) | | | | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) These stock options were canceled on this date by agreement of the
Corporation and the reporting person in a Rule 16b-3(e) exempt
transaction.
(2) This stock option was exercisable according to the following vesting
schedule:(1)first 66,000 shares-8/1/95;(2)next 66,000 shares-1/1/96;
(3) next 66,000 shares - 1/1/97; and (4) next 27,000 shares -
1/1/98.
(3) This stock option was exercisable according to the following vesting
schedule: (1)first 65,000 shares-7/1/98 and (2) next 43,000 shares-1/1/99.
(4) This stock option is exercisable according to the following vesting
schedule: (1)first 181,818 shares-11/14/98 and (2) next 151,182
shares-1/1/99.
(5) This stock option was both granted and exercised in November, 1998 in
transactions exempt under Rule 16b-3(d) and Rule 16b-6(b), respectively.
SIGNATURE OF REPORTING PERSON
/s/ Harry W. Margolis
DATE
December 7, 1998
