Dhuy
Thought I'd mention I'm still in LGL plus now Newcrest, in a modest way. I'm still really waiting for the more seasonally friendly period for gold and resources generally from November but option premiums available keep sucking me in.
I thought we'd seen the low in LGL around $2.25 and rolled down from $3.00 to $2.50 puts, and once again find myself underwater, and was very tempted to go mega long Feb $2.00 calls last week which today at least would have looked good.
I guess the technical guy who picked $1.75 should be congratulated! Having once bought LGL at a 55 cent low I know how low high cost gold producers can go if the gold price fails.
its a measure of the 3 month premiums available and the vol that having looked stupid on Thursday, my Nov $2.50 LGL puts are once again instrinsically profitable.
LGL is a relatively high cost unhedged producer, so if gold is to make another run at above $1000 or even higher, then it is the play at the moment.
What is your call on gold over the next five months?
Oldtimer2
the price it will bottom at, page-32
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Last
$1.46 |
Change
0.055(3.93%) |
Mkt cap ! $177.6M | |||
| Open | High | Low | Value | Volume |
| $1.42 | $1.46 | $1.42 | $5.837K | 4.045K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4274 | $1.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.47 | 1000 | 1 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| LGL (ASX) Chart |