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« Randgold Resources Limited: Options Trade Update | Main | Agnico-Eagle Mines Limited: Stopped Out of Call Options »

Agnico-Eagle Mines Limited: Re-Purchased Call Options

AEM logo 20 feb 09.JPG

Just another quick note to let you know that in todays trading session in NYC we bought some Call Options and they are the MAY 2010 series at a strike price of $60.00, for which we paid a price of $4.64 per contract.

Yes, these are the very same contracts that we bought recently only to be stopped out by the trailing stop that we had placed in order to protect ourselves from a sudden drop in gold prices, which actually happened, albeit for a short time period.

Gold prices are up today with gold trading at $1096.10/oz as we write and silver is also joining in the fun trading at $15.67. Agnico-Eagle has put on 4.87% so far in this session so it should close reasonably well.

News of a possible rescue package for Greece by other EU member states has helped to quell fears about the EU for now, aiding the Euro and putting a cap on the US dollar.

This is going to be a volatile ride so hold on tight and be prepared to move quickly and utilize your 'stop' facilities.

All the best.

Got a comment then please add it to this article, all opinions are welcome and appreciated.

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Reader Comments (6)

Do you have any thoughts on Tanzania Royalty..TRE?

February 12, 2010 | Unregistered CommenterEd Durkin

I received this Gold Update this morning from MarketClub.
Copy and paste in a search engine.
They offer technical chart information via video presentations...The information is good and videos are well done.

February 12, 2010 | Unregistered CommenterMark

Hello, I am an ex market maker on the PSE and have traded more options than 99.44% of people on the planet doing 1000's of options per hour. Never use stops, hedge with stock. Just a tip, if you need help you may email me first and then I will call you later since I have unlimited calling services.

Ron Lloyd
NYSE Investor

February 15, 2010 | Unregistered Commenterron lloyd

My AEM May $70 CALL Options target was reached this morning triggering a 111% gain in 13 days. These CALLS were purchased on JAN 29th for $0.95 and sold FEB 16th for $2.00 each. No doubt, I'm out early, but have a strategy that, so far, has been working out well - after paper trading for months and months and months. I keep reminding myself, it never hurts taking a profit!
There are some good opportunities out there, as large cap Gold stocks have been hit hard during this latest correction and are trading around support.
Monitoring other Gold/Silver companies on my watch list are: GG, ABX, SLW, and mid cap Canadian Cos.- ELD, YRI.
Good luck everybody and special thanks to for being a 10-15% catalyst for my trading options.

February 16, 2010 | Unregistered CommenterMark


Well done with the AEM Calls its always good to get feedback from the team.

As you know we were stopped out for a small profit when we bought AEM Calls, we took another look and then bought back in again, AEM is up 3% today so its heading in the right direction.

February 16, 2010 | Unregistered CommenterGold Prices

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