Added @ .0073
Trying to get the average down. Totally pissing me off as is MMTE not moving ( shoulda just stuck with BIHC and left it at that.
J/K I still have every bit of confidence that once BK is exited and numbers are announced QMNM will make us money.
2 comments:
Guys...here is a buy/write strategy that I think is a very safe bet for money that you want to let sit from a fixed income standpoint.
Buy 100 shares of AUY. Price right now is 11.00 as I type. Immediately write a covered call to protect yourself. Call of choice for me in this case is AUY AV. January 2009 Option with a strike price of 12. It is selling for 1.30 right now.
To put into percentages, I think that we all believe that AUY will be at least where it is now by January, in the heart of the seasonal strength of the metals.
Lets say it finishes at 12.01 on option expiration. Your investment earns you 130$ plus 100$ minus commissions 13$ for a total of 217$. That turns out to be a fairly safe 9.5% return in a little less than 6 months.
Plus, you have downside protection and are still profitable down to AUY at 9.90$.
This is a buy/write...and a good one to use right now for money that is sitting in this doldrums we are in.
Yeah...QMNM is totally pissing me off too.
I'm still fuming about the pretty high level of dilution Eugene said he WOULDN'T DO!!!!
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