Red drum (Sciaenops ocellata) from seven of the nine major embayments of the Texas Gulf Coast were electrophoretically analysed for genetic variability. Indices of genetic similarity and distance were derived, as well as estimates of genetic divergence between bays. Cluster analysis phenograms were developed, and possible causes for population structure were addressed. Forty presumptive loci were screened, of which 30 proved to be of value for genetic population analysis. Percent polymorphic loci and heterozygosity/locus/individual ranged from 6.7%-13.3% and 0.025-0.042 respectively. These values were lower than those reported in similar studies, including some dealing specifically with Sciaenidae, but remained within the range reported for teleosts in general. A total of thirteen tests of genetic similarity/distance were performed. Of these tests, no segregation below a genetic identity of 0.95 was detected in those samples large enough to statistically satisfy the analysis. Upon exclusion of the small samples, no differentiation below 0.97 was demonstrated. Contingency chi-square tests and F-Statistics found only extremely low levels of divergence. Indeed, none of the divergence indicated was significant in terms of distinction of subpopulations among bays. This lack of differentiation in spite of apparently low levels of interbay migration was explained as a function of the dichotomus life stages. While juveniles are geographically isolated, adults occupy the open waters of the Gulf of Mexico, and have yet to be thoroughly described from either a life history or reproductive strategy viewpoint. The indicated single stock of reproductively active red drum in the Gulf requires further investigation, in order to accurately determine migrational habits as well as breeding success. The implications for management of the fishery at present are to regulate the resource as a single stock; as well as institute a comprehensive physical and biochemical study for future policy formulation.