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Strategies & Market Trends : Canadian Options

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To: Jan Johnstone who wrote (110)	2/3/1997 12:22:00 AM
From: Goldberry	of 1598

I have been a buyer of calls when stock has been low enough that the cost of my strike and call gives me BXM at $23.00 or less. I also have been a seller of calls when price received plus my premium will net me a minimum of $26.00. I still like the same play when possible and I probably missed an opportunity on calls while away this past week. As indicated on the BXM thread I sold a lot of my position at net of $27.00 about 2 months back and the rest when it spiked to $25.00 several weeks ago. Bought back in at an average of just over $22.00 in the week after. I have ABX jan 98 35.00 leaps which I believe covers me on Barrick and gives me lots of time to wait. I think if gold behaves and they get busang ABX is an easy $50. stock I think ABX will win out. They are the best of the bunch (regardless of their dirty dealing) and they will continue to be the Indo's choice. I think they will have to alter their deal because of the Placer bid. I don't believe the deal will exceed $28.00. Graham

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