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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: rocklobster who wrote (7332)	1/9/1998 1:14:00 PM
From: Broken_Clock	Respond to of 95453

Richard, You'll have greater leverage with the out of the money options but you have some downside protection with in the money options. You'll have to look mighty hard to find any in the money Aug calls for the drillers! They've gone down so far so fast the writers couldn't keep up!When the market is tanking like today, the premiums shift in your favor slightly. Once the rebound starts, the calls premiums shift against you. Supply and Demand. Glenn, I am seriously considering some ABX leaps today. I missed last month. I think gold has bottomed, either way, upside there is 90%---downside mavbe 10% IMHO, Drillers? Who knows? CDG, EVI, RON in Aug look very tempting.