Why don't you give it a try and see what happens? Then, if there's a problem with it, and AFTER trying you can't solve it, come back and someone will help you.
$result=mysql_fetch_array($query);
I'd get rid of that though; if you don't, you're going to lose one record when you create your options.
This has also been asked countless times. A quick search around the forum and you'll find the answer to your question.
Cgraz