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Strategies & Market Trends : Canadian Options
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To: Goldberry who wrote (109)2/2/1997 3:06:00 PM
From: Jan Johnstone   of 1598
 
Graham, I noticed you over at the Bre-X thread. You playing options on the "Bungle in the Jungle" ??? If so what do you like ??

I've been buying near term Calls in the last couple months when the stock gets around $21, always selling when the stock spikes up. I've been lucky so far. I sold my stock position in January, this Indonesian gov't is too unpredictable, so options are the only way I intend to play this from now on. I sense a lot of impatience by those involved, a rash decision wouldn't surprise me.

I like the "at of the money" Mar Calls for both Bre-X and Barrick. My guess is that Barrick will "steal" Busang from Bre-X, giving Bre-X $26 of cash/stock. Obviously, this is just a hunch.

Cheers !!
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