We bought JAN 17, 2009 $ 60.000 CALL OPTIONS on AEM (Agnico Eagle Mines) on the 14th of August at $5.50, and we have just take our 100% profit, as planned, by selling the contracts at $11.00.
Through this trade we have generated a 100% profit in 36 days, which just goes to show how fast these options can turn around once gold starts moving up.
Although we still believe gold prices are heading much higher in the future, our strategy for this options trade was to double our money and we have achieved this goal.
We may purchase these calls back at a later date, but for now we are happy to take the 100% profit and wait and watch for a while.
Well done to anyone who followed us in on this trade, you should now be seeing the benefits. As for our other call options, we expect them to reach to the 100% profit mark soon, so hold on to them.
Note: We still hold AEM stock and have not sold any shares.
Also, it may be of interest to see our latest comments which were published on Marketwatch, more details are available on this website.
These are fast changing times and its essential that you stay up to date with what is going on in the market. For our latest commentary and trading signals on gold, click here to subscribe to The FREE Gold Prices Newsletter and click here for The FREE Silver Prices Newsletter.