On the 4th November 2009 we bought the Agnico-Eagle Mines Limited (AEM) Call Options, JAN 2010 series at a strike price of $60.00, symbol AEMAL for an average price of $5.10, today they ended the session at $9.30 for an increase of 81.46%
Agnico-Eagle closed at $67.69 putting on $2.23 for a gain of 3.41% on the stock price, with volume at a healthy 4.9 million shares traded.
We did mention earlier that we had placed sell orders at double the purchase price so its fingers crossed that the old Buzzard can hit $10.20 in the next day or two, which would give us a return of 100% in one month.
It would be nice to register a 'win' tomorrow following yesterdays success with Randgold Resources Limited when we closed our position with a 100% profit.
Sean Boyd, CEO, Agnico Eagle Mines appeared on BNN today and looked to be his usual confident self despite the monumental challenge of managing five new mines, worth a watch if you are an Eagle fan, just click here.
As always go gently as options trading is highly speculative and dangerous to our financial health, but for now enjoy the ride and keep smiling.
Any thoughts or comments on how we could do better are always welcome so please let us know.
Have a sparkling day.
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