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

To: johnlw who wrote (142209)	12/1/2010 10:22:06 AM
From: Salt'n'Peppa	Read Replies (2) \| Respond to of 206326

Thanks John. Following is a boring post about options ideas. Please skip it if you aren't interested. RIM has been the same for me. RIM.TO DEC48 put premium had climbed from $3.80 to over $5 shortly after the post you referenced. I sold 20 more DEC48's, as well as DEC44's, DEC50's, DEC52's and MAR54's and have to agree that RIM has been the play of the year for me too. I have the RIM common in my RRSP and think it may be time to sell soon. The value there was undeniable and echoed by all the RIM negativity in the press. A close second for me this year is CC's IOC puts. Regarding oily plays, I currently have open written naked puts on NXY.TO, HSE.TO and COS.TO, all nicely decaying. I also hold all three common shares. I have been playing with fire through writing naked calls on OPEN as well. This is a hugely overvalued (and volatile) stock and I am positioned for it to fall drastically from these lofty levels. This is a devil's advocate play as OPEN is showing a classic upward trending channel. Being 80% insider and institutionally held, OPEN is trading on technicals alone and not fundamentals, but its day of reckoning will come. I am writing calls on the top of the channel (as seen today) and covering near the bottom, but only once it turns the corner. I want to be positioned to take advantage in case the big correction in OPEN happens. Been making good, steady money trading the DEC65's, but currently holding a few slightly underwater DEC70's and 75's. Warning: OPEN does require significant maintenance room in your account. Commander Cricket's ATPG play has also been a good steady earner for me, as has STD (Santander Bank). STD common is currently low enough that a new round of put writes is in the cards for me but I haven't acted yet. Cheers, S&P