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

To: rllee who wrote (157116)	9/16/2011 12:32:44 PM
From: CommanderCricket	Respond to of 206138

rllee, The day isn't over yet - LOL What's interesting today are the covering of the Sep 57.5, 60 and 62.5 put options. We've had 515 closed today and I think that is putting downward pressure on the stock. When the roll and close is over, I suspect IOC will rip higher. Either way, I'm not covering the Sep 60's and planning to get "Put". Sold the Sep 60 Puts for $1.66, so the breakeven point is $58.34. I think we'll get there this afternoon. Michael

To: rllee who wrote (157116)	9/16/2011 2:01:52 PM
From: katytrader	Respond to of 206138

rllee, this is why I sold the 55's. Thanks to CC, I have made a lot of money from IOC options and stock. But over time I have concluded that they are both susceptible to option expiry diddlin' and fiddlin'. I write taking less premium in giving more latitude to what might go on. Unless, of course, I want to take assignment. Michael should come out OK on this, but not everybody can take the heartburn that can come in taking assignment wheen the share price falls below even the strike price less the premium. katytrader