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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: falconflingagain who wrote (84734)	5/17/2007 6:02:55 PM
From: ChanceIs	Respond to of 206325

>>>No one on the board ever seems to listen to me when I recommend them, but I can bet you 2 corvettes.....<<< I have spent most of my time holding with my left hand and trading with my right, while writing covered calls depending upon my perception of market conditions and amount of margin usage. It used to be that I hated to "pay for time" (buy options). I would much prefer to sell time (write options). Recently I have taken more of a shine to buying options, especially calls on things gassy (XEC is nice but the spread/liquidity on EPEX suffers). Having said all of that, please don't feel ignored. Your audience is growing. PS: My gut is screaming buy the patch. I really think that Hubbert's Peak is showing up in all of its nasty manifestations. I fear a broad correction - US recession. Answer???? Long dated calls may not be too bad. Maintain some upside while going to half cash - sell everything you own now, divide the sales price in half - buy '09 LEAPS of that numerical strike - and put your remaining cash under the mattress....well....in CANROYS, much safer from the thieves and US Treasuries when weighing US inflation. (Is there a distinction between thieves and US Treasuries????)

To: falconflingagain who wrote (84734)	5/17/2007 8:23:10 PM
From: profile_14	Respond to of 206325

It sounds like they finally got into the money. Congrats, because GSF has not gotten much of a chance to break out above 64 since early 2006 and then in late 2006. I personally like to sell to open calls and puts with less than a month and to buy long term options near the money. Too far out of the money you don't have a lot of delta. If you can wait for a pullback, it is better than rolling them outright IMO. Best of luck,

To: falconflingagain who wrote (84734)	5/17/2007 9:57:41 PM
From: jils	Read Replies (1) \| Respond to of 206325

i have a hard time putting money into a LEAP and letting it sit...then what happens if the stock moves south a couple points.. do you double dip or only make one purchase?? then if i am up a few points on the LEAP, I usually sell way, way too soon and leave money on the table. terrible discipline i know joe