The above chart shows the status and the progress of the January 2009 Call options that we purchased on 24 July 2008 for $2.50 per contract. We now need the stock price to rally to the $20.00 level to get us back into positive territory.
Gold has been volatile and was trading at $885.00 for most of today’s session, however a late rally has gold trading at $914.50 as we write, which gives us some comfort. We remain fairly comfortable with this position as we have until January 2009 for Kinross Gold to make its run and we are quietly confident that the gold price will go a lot higher from here, dragging Kinross Gold with it in the process.
We will continue researching the options sector with the view to buying more Call Options shortly in order to take advantage of the year-end rally that we believe will challenge and surpass the old highs made by both gold and silver so stay on your toes!
Have a good one.
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