Team, a quick note to let you know that we have been stopped out on the Call Options we purchased on the 9th February 2010 on Randgold Resources Limited (GOLD) they were the Jun 19 ‘10 $75 Calls with a strike price of $75.00 for which we paid $5.50 per contract for them.
We placed a stop at $6.50 to protect our position from any sudden fall in value and it has been triggered so we are out with a small profit which has been achieved in just one month.
It looks like the low amount of liquidity meant that there were few bids on the day and once the bids dropped our stop was triggered. However it does raise the question that maybe we should be using the bigger vehicles like GLD as the larger volume in liquidity may have helped us on this occasion, an area that we need to study more closely.
Back to the drawing board.
Randgold Resources Limited trades on the NASDAQ under the symbol of GOLD and on the London Stock Exchange under the symbol of RRS.
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All the best.
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