SSRIF Silver Standard Resources Message Board

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Gold/Mining/Energy : SSRIF Silver Standard Resources

SSO 117.21

+0.4%

Nov 3 4:00 PM EST

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To: EZbeliever who wrote (281)	12/5/1998 8:14:00 AM
From: ForYourEyesOnly	Read Replies (1) of 403

Ahhh......the mining stocks are not looking so good now.....I personally feel that it's another shakeout and that it is best to hold on (but I could be VERY wrong).....wish I had taken some off of the table in the last rally... The futures positions are doing better thanks to a weaker yen, but that could change any day.........holding Pt and silver contracts. My current "hot play" is to buy way out of the money silver calls that expire right before Y2K. For example, one could buy one Dec 99 call strike $7.00 for about $300 including commisions. If silver does not rally by then, then you can toss it in the trash. But you have control of 5000 ounces until then. If silver goes to: $8.00 $1 profit x 5000 ounces = $5000 $10.00 $3 x 5000 = $15,000 $20.00 $13 x 5000 = $65,000 Yes, I know that silver is HIGHLY unlikely to get to $10 or more.....but if you add in the Y2K problem......this functions as a hedge.......this is just my way of thinking..... Please let me know if you have any suggestions or comments.....I would like to buy calls that expire after Y2K, but they don't seem to be trading now. Thanks! THC

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