Hello Pezz, Report – Canadian Front:
I bought back my shorted AEM February Put strike 12.5 at USD 0.55/contract, realizing a negligible profit of USD 0.25/shr Message 19228192 <<August 21st, 2003>>;
I decided to leave the other part of the Siamese twins trade Message 19228192 <<August 21st, 2003>> alone, allowing the AEM February Call strike 15 to expire worthless on my opposite speculator, claiming his USD 1.3/contract premium as my prize.
After I got done with my opposite speculator in the above described game, I tempted the person with a brand new exchange that he is not so familiar with :0)
I shorted AEM August Put strike 12.5 at USD 1.40/contract, and just as a puzzle for my opposite,
I shorted AEM August covered Call strike 15 at USD 0.70/contract :0)
… the opposite speculator agreed!
To remind you, my underlying AEM positions were accumulated so, some by pillaging and others by foraging:
Message 18253310 <<November 19th, 2002>>
Message 18732391 <<March 21st, 2003>>
Message 18949830 <<May 15th, 2003>>
Message 19221008 <<August 18th, 2003>>
… I will skip the tallying, because I know, ultimately I will have a bunch of AEMs with effectively zero cost basis ;0)
As I mentioned many times, I think option premium is like rent, and one should never be completely without it, as if it is air.
<<Unloaded some deadwood that if I had the slightest clue as to what the hell I wuz doin I would've done last week! ... got outa the NEM biz @ 6.90 paid 10.70 ... bullish for you ...and others.... who know who they are. Nonetheless hada stop the pain.Hope gold goes to ZERO! %^)>>
Yes, you did not go with the Force ;0)
As the Albino priest in "The Da Vinci Code" would say, '<<pain>> is good', for that is how we get to reflect and learn, even if only for a nano-second before we are finally, as in really, done ;0)
There is much to learn about gold, and the first lesson is, 'it has no correct price', and so zero is as good a guess as a million, in any currency unit :0)
Chugs, Jay |
