OR or KEEPON or anyone else with an good guess,

What do you see for Dec 99 gold options I got some that are near dead at this point. Are they DOA or is there still some hope? Your earlier thread provokes the question.

Thanks dreaming

-- gary manning (garyman@juno.com), August 14, 1999

Answers

gary,

what do you need to be in the money?

goldman sucks are rumoured to be buying calls for oct. I believe needing $310.

either they expect POG to surpass this, or they are playing a double- bluff and stand to forfeit their contract money... they are rumoured to control half the comex vault so they can pretty much dictate pog short term I would have thought...

-- Andy (2000EOD@prodigy.net), August 14, 1999.

Gary,

Hang on to them. You bought them because you felt the Sh*t was gona hit the fan. They don't expire until Nov 12 so you have plenty of time to wait. Major happenings are just starting. I have 36 December strikes that I gave 75.00 each for with commission. Their worth $30.00 right now. Thats OK because I feel the fireworks are just starting to begin. Its not rumor as Andy says about Goldman. It's fact that they own 50% of all Comex stocks right now. They purchased 2000 December 300 calls last Thursday and threres rumor that they want 20,000 more.

-- flierdude (mkessler0101@sprynet.com), August 14, 1999.

Gary,

I'm in agreement.....dead-in-the-water today can change literally overnight. With a Nov. expiration, you still have "time value" on your side. If nothing happens by the first week in Nov, take what you have left and buy further out. April? May? I still believe that actual bullion and gold funds (Franklin Gold) are the "safer"alternative....patience, patience, patience.

Keepon

-- keepon (vacillating@hourly.edu), August 15, 1999.