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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Oliver Macko who wrote (20051)4/30/1997 5:10:00 PM
From: Cascade Berry   of 28369
 
Right Oliver. Understand. One thing I've learned trading options is never to buy straddles, or to play both sides of the market - rather to choose an orientation (in this case bullish) and stick with that. The commissions and volatility will get you otherwise, and it's hard to pick an exit point. I suppose a covered write is sort of like doing that, but it suits my cautiously bullish short term prognosis for the stock. I think the whopping premiums on the Mays makes this a good idea. And then I can short another like the December 5's in a couple of weeks (currently over 2.00). I almost end up owning the stock for nothing at that point, when my profit from the Bresea is included, assuming the Strat report is neutral to favourable.

Cheers
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