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To: William JH who wrote (65431)2/7/2001 1:14:01 PM
From: pater tenebrarum  Respond to of 436258
 
on the other side of this trade are the bullion banksters who lent them the money for the Deelkraal and Elandsrand acquisitions.

and they would protect themselves via delta hedging, i.e. they'd begin to short gold as the strike is approached.

in other words, if the PoG were to plunge to the level of the strike price, additional selling would materialize due to this delta hedging.



To: William JH who wrote (65431)2/7/2001 3:34:28 PM
From: Follies  Read Replies (1) | Respond to of 436258
 
I read recently that Harmony bought puts for 1mm oz (I think) of gold at strike $250. Who do you think would be on the other side of a trade like that, and how would they protect themselves from a collapse in the POG?

gee, let me think, if POG falls who has more money at their disposal, why its good ol AG!


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