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« Precious Metals Stocks: The Next Quarter | Main | ProShares UltraShort Financials ETF (SKF) Trade Closed »

IAMGOLD Corporation Options Trade Update

Today we closed the September 2009 series with a strike price of $12.50, for $1.10 having purchased them recently for $1.00 per contract, as IAMGOLD isn't dropping fast enough for our liking.

We have also placed sell orders at $0.15 on the September 2009, $10.00 series of our PUT Options as they are under performing.

As we move into the month of September we will be looking for gold to commence a major move upwards continuing through until February 2010 and will be looking to buy a few Call Options on some of the more oversold gold and silver producers.

IAMGOLD Corporation has a market capitalization of $4.29 billion, a P/E ratio of a whopping 439.47, with 367.31million shares outstanding and an average daily volume of 2.5 million shares traded.

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