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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Chris Sousa who wrote (19904)4/30/1997 2:19:00 PM
From: Cascade Berry   of 28369
 
I think that is because the upside on the long put position is very bad at this point. Even if the Strat report is bad, the stock still won't go to zero - THE ISSUE WON'T BE RESOLVED, and the time premiums are high. At zero the puts only double (the May 5's), and I think this is highly unlikely. And only a lunatic would buy the deep in the moneys. That's a recipe for personal immolation IMHO. Everyone is looking for higher volatility post strat than I think is going to occur. Beware of longs on the May options. Augusts are safer, IMHO.

Cheers
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