An obscure ZIM in Africa traded Down Under Message Board

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Gold/Mining/Energy : An obscure ZIM in Africa traded Down Under

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To: TobagoJack who wrote (685)	2/23/2003 8:11:53 PM
From: ild	Read Replies (2) of 867

Jay, I've been playing with covered calls / naked puts on AU, ASA and NEM for years too. Just yesterday I had a bunch of HMY 15 and 17.5 calls and 12.5 puts expire. This strategy works great in a slow moving bull market. It didn't work well last year when they appreciated over 300%. Since you had them on your "watch list" I thought you had some specific price target besides your option plays. Have you recently noticed that premiums on HMY and GFI options are much smaller now than they were just a couple of months ago? I'm afraid that because of strong SoAf Rand HMY and GFI earnings are in big danger. So far premiums on AEM, KGC and GLG options are still pretty high although they (stocks) have a lot more hot air in them comparing to SoAf golds.

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