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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: Stephen O who wrote (1141)5/28/2001 11:31:02 AM
From: russwinter  Read Replies (1) of 4051
 
<down to 87,720 ozs>

So they are not restablishing new positions, just delivering into? Old bank imposed conditions, that goes away as debt is paid off this year?

The delta on the calls might be of some concern as black box theory requires hedgers to purchase (I believe a different requirement, separate from European style delivery) offsetting ounces as implied volatility and POG increase. It's worse on long maturities, so the short dates on this looks manageable, as long as IV and POG don't really get out of hand.
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