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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Warren Van who wrote (49464)	3/2/1999 5:38:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

WArren, I am buying Newmont because it is just about where I bought the first third and I like the co. They will be the last standing, along with ABX, if price continues to fall. And if it goes up, their more efficient mining will produce big profits fast. The buy write is buying Newmont and selling Jan 2001 $20 strike price calls against the shares. This is an income play and one reason I am doing is because I like gold and don't like bonds. The symbol for the Leap calls is ziead. I got 5 3/4, which gives me a standstill return of over 22% a year, not counting the dividend. Of course, I am hoping it goes up sooner than Jan 2001 and I capture the premium early. The risk is that the stock declines more than 5 3/4, which is certainly possible. But I am willing to take that chance to goose my income in my IRA. MB