Options update for Oct 6...well,well,well--something's cooking w/ Bell
Stories started swirling about BCE mid-afternoon as the stock picked up speed on the upside. British Tel, re-valuing telcoms in general, take your pick. The stories may not be true, but the prices are. Never fight the tape! I'll be very interested to see what is reported overnight and where Bell opens tomorrow. Remember--*everything* is for sale if the price is right, regardless of Canadian ownership requirements, etc. Vol picked up a little as some spec buying showed up, but if there's any fire behind the smoke, these puppies are cheap.
(26,25)
ABX: Barrick gave back about .70c today--not bad after its recent run-up. Gold is still holding above $330 spot, and as long as it does, I'll be trading ABX from the long side. (31.5,33)
INCO: Just when I thought this pig couldn't act any worse--well, you know the rest. Still big believers out there--call buyers have driven the call vol to the highest this decade. I'd rather stick pins in my eyes than sell .50c calls with 4 months to go, no matter how far out of the money they are, so we keep raising the vol, looking for sellers. (33,28)
Many developments on the automation front...none of them good. I'll post my thoughts on this when I have more time, but I have to drive my daughter to the rink now. I almost can't wait til she can drive.
Happy trading
Porter
Oh, and for the toothless tigers at the OSC,
"none of the above should be considered specific advice on the buying/
selling of securities. The writer may or may not have positions in the above mentioned issues. Perform your own due dilly."
Duh! |
