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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (96321)	11/17/2003 1:06:52 PM
From: Real Man	Read Replies (1) \| Respond to of 116782

Above 400, there are almost no December puts in the money (14), and a boatload of calls (75720). The open interest on Dec. futures is 178683 contracts. Assuming that specs are mostly long, that gives roughly 254,000 December contracts, long. That's roughly worth $10 billion, notional value. Every dollar of gold price puts 25 Million pocket change into someone's pocket. The 10 billion NV is nothing for the bullion banks Previous record commercials short was around 100,000 contracts. So, gold could go down pretty fast! Or, it could soar pretty fast as well. But the latter is usually much less likely. It happened in September and October, though. So, a titanic fight is scheduled to continue until Nov., 24(December options expiration), and Nov., 26 (First notice day on December contract). With roughly 1 week to expiration, if the specs can reverse the gold dump and force the bullion banks to hedge, we may also see a very sizable move up.