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

To: profile_14 who wrote (86155)	6/12/2007 11:40:45 AM
From: ChanceIs	Read Replies (2) \| Respond to of 206323

>>>Watch all hell break loose if we approach and reach 5.5% on the ten year.<<< Does this mean that my June $60 CNQ covered calls will expire worthless!?!?!?!?! Damn. In a moment of weakness yesterday, I rolled them out to Dec $65s for a $0.20 credit. Ah well. That still affords affords me some $6.80 in downside protection should the interest rate jitters really spread. However, I could have rolled them out today for $1.30. What I just wrote immediately smacks of what we call whining. It doesn't go over well. No room for that in the BBR. I would just point out that in days of high volatility (watch that VIX soar) it often pays to wait until expiry Friday for roll-outs. That way all of the pumped-up time value has been sucked out, but the series which you want to short next still has it locked in.