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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.90

+0.9%

Nov 18 4:00 PM EST

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To: Casaubon who wrote (44312)	10/29/1999 2:31:00 PM
From: Lightning	Read Replies (2) of 116762

No wonder there are such violent disagreements on this board when people can't even agree on basic concepts from Finance 101. Selling calls (covered or uncovered) is a bearish tactic and buying calls (covered or uncovered) is a bullish tactic. We may disagree about the extent of the bullishness or bearishness, but certainly we shouldn't disagree about the direction of the wager. Anyone who sells calls when the price of the underlying security is historically low and options volatilities are also low is making (in my opinion at least) a low-probability bet that prices will decline or at worst stay the same. If you thought the price of the underlying security was going to go up, you wouldn't sell the calls today, you would wait until you didn't think the underlying price would go up anymore.

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