Preheat the oven to 350 degrees. Cream the margarine and brown sugar in a mixing bowl until fluffy. Blend in the egg and vanilla. Combine the rolled oats and flour and add to the margarine mxiture. Mix well. Shape into 1 inch balls. Roll in the chopped nuts. Arrange 2 inches apart on an ungreased cookie sheet. Make an indentation in each ball with thumb. Fill each indentation with 1/4 tsp. jelly. Bake for 12 to 15 minutes or until golden brown. Cool on a wire rack. Yield- 3 to 3 1/2 dozen.
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