Thx Will (but I never really went away)...
I've been following everyone's posts the whole time, although I find it difficult to make it through the Bre-X thread...you know, 'yippee, we won and our stock is only down $4!'. Meanwhile, Barrick has rallied some 5 dollars. It's nice to have ABX back as a gold stock and not a 'predator' in an over-long, messy battle.
For those of you who followed my battles with the TSE over their proposed changes to the model of trading options and futures, they are in the review phase of all responses to their 'blueprint'. To quote from their precis, "very few submissions accepted the full automation model in the 'Blueprint' as is." I tried to save them a lot of time and money by telling them this would be the case before they went down the road of full automation, but they're the high-power MBAs and I'm just a floor-puke.
On to options:
BCE volatility is inching up...don't forget the upcoming stock split, which should put more actual vol into the stock. 20.5,20.5
ABX has had a strong rally and a mild pull-back would be in order. The remarkable thing is the public continued to sell calls into the rally as well as selling puts. Only a handful closed out positions by closing buys. This tells me (contrarian-wise) that the stock is going a lot higher. 29.5,31.5
INCO looks higher, and at this stage of a bull market, cyclicals do well in general, but option play is so subdued, nothing is conclusive. 27,26.
(Numbers are the implied call/put vols.)
Let me know if anyone finds this useful.
"Standard Disclaimer, yada yada yada..."
Porter
TSE options specialist in ABX, N, BCE
(for those who weren't around earlier) |
