Does this work?

Code:
--------------------

Dim rng As Range

Set rng = Range("C2")
Do While rng.Value < ""

If rng.Value = "FSOP" Then
rng.Offset(0, 7) = "P"
Else
rng.Offset(0, 7) = "S"
End If
Set rng = rng.Offset(1, 0)
Loop

--------------------


--
Norie
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