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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.29+0.6%Nov 7 4:00 PM EST
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To: pezz who wrote (66046)12/18/2010 6:36:58 AM
From: TobagoJack  Read Replies (3) of 217576
 
hello pezz, followup report:

(1) The cloud-atm of the market closed this trade Message 26819990

(i) bought lots of gdx shares at 55.43

(ii) short sold lots of contracts of gdx put december strike 54 at 2.772

(iii) short sold lots of contracts of gdx covered calls december strike 57 at 2.62

... meaning the puts expired harmless, at zero value, and
the shares got called away, at 57/shr, resulting:

- net 5.39 premium secured (2.772 + 2.62)
- gross 57.00 gdx called away
- total cost 55.43 of gdx
- net net %$@30(&* net 62.39 / 55.43 return, or 12.56% return over 90 days, or enough.

(2) I was negligent in my duty and forgot to followup on this trade Message 26833623

(i) bought massively SLV @ 20.40
(ii) short sold SLV November Put strike 20 @ 0.76
(iii) short sold SLV November covered Call strike 22 @ 0.43

... where the shares got called away at 22, netting a gain of 13.68% over 60 days.

(3) I look to this trade Message 26833623 to close out in my favor, as usual, as should be

Pan American Silver Corp.
(i) bought even more massively PAAS @ 28.38
(ii) short sold PAAS January Put strike 28 @ 2.00
(iii) short sold PAAS January covered Call strike 31 @ 1.45

... so that I can claim my well deserved 21% over 120 days.

sure, in all cases a straight long position would have netted more, but what would be the astuteness in that?

cheers, tj
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