This is gold, a commodity subject to very quick sentiment swings...

This is gold, a commodity subject to very quick sentiment swings and the options are pretty thinly traded so it's unlikely they'll trade at the premium that they should be according to the model but it's nice to know the full premium isn't built into their price. Means there is currently "intrinsic" value built into these options because the time premium is not being properly recognised by the market, probably for some of the reasons given above. Esh