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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: RWS who wrote (161787)	12/28/2011 11:17:47 AM
From: CommanderCricket	Read Replies (1) of 206169

RWS, Wouldn't surprise me at all. All the resource stocks are selling off and IOC won't be immune to the market. My BTU is cratering again. Back to IOC.... If you look at the Jan/Feb/Mar option cycles, you'll notice the majority of open interest is still between $50 - $55 (max pain). With the upcoming sell down (it is coming), I would have expected the majority of open interest to start moving higher through the 1st quarter. Not happening, yet... P/C ratios continue to be bullish though. Could be the value of the resource isn't going to be nearly as high as many think? The share price isn't recovering yet. Have sold Jan 45/50 puts, Feb 45 puts, Mar 35/40 puts. Also have strangled with a few calls. CC

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