gel1 December 12th, 2010 at 8:45 pm
stjeanluc / ABX
I look at Barrick as a long term "momentum" play, that is subject to conservative corrections, that are short term, but looking forward – it will be trading far higher than 50 in the short term. My target on this trade is short term, and looking for a quick 10%. I have other longer term gold plays that have differing strikes. In terms of longer plays… I think selling the Jan 13 – 50 puts for near $9.00 is superior….. how can you go wrong with any upside play in the long term?.. some are better than others. With the play I suggested, I believe you will still be able to leg in to a subsequent play, but at a better price point.
December 12th, 2010 at 8:45 pm
stjeanluc / ABX
I look at Barrick as a long term "momentum" play, that is subject to conservative corrections, that are short term, but looking forward – it will be trading far higher than 50 in the short term. My target on this trade is short term, and looking for a quick 10%. I have other longer term gold plays that have differing strikes. In terms of longer plays… I think selling the Jan 13 – 50 puts for near $9.00 is superior….. how can you go wrong with any upside play in the long term?.. some are better than others. With the play I suggested, I believe you will still be able to leg in to a subsequent play, but at a better price point.