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Gold/Mining/Energy : Barrick Gold (ABX)
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To: russet who wrote (2605)5/9/2002 11:40:58 PM
From: tyc:>  Read Replies (1) of 3558
 
Thanks for the lesson on options. I always thought that the best thing that can happen to an covered call writer is that he gets a maximum return.... the amount he bargained for when he wrote the call. This happens when the call is exercised, which is more likely to happen in a strong market. I guess you are saying that the call writer is happier getting a lower-than-maximum return, which happens when the price is below the strike price at expiry. I see.

If Barrick sells calls at a strike of $310, they hope that the price of gold stays below that figure. Oh yeah, sure.
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