Gold option bets point to $1,200 early next year
NEW YORK, Nov 20 (Reuters) - Option traders are betting
that gold will hit $1,200 an ounce or higher by early next
year, and strong options interest could in turn lift underlying
prices further into the uncharted territory.
Buying of calls, which confer the right but not the
obligation to buy an instrument at a preset strike price, has
been a strategy to gain exposure as gold prospered as a hedge
against depreciating paper currencies during the nascent
economic recovery.
"There are funds that are positioning themselves to be long
here," said COMEX gold options trader Jonathan Jossen.
Jossen said that investors have been snapping up February
$1,300 calls, April $1,400 calls and June $1,500 calls for
2010.
http://www.reuters.com/article/usDollarRpt/idUSN205150602009...
I think the trading day before or after xmas gold will be $1200
It is only $49 away...it had a $23.25 day in October already.
Heck it could happen sooner but I'll be reserved in my guess.
There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him.
-Professor Bernardo de la Paz, The Moon is a Harsh Mistress
Robert A. Heinlein
History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower
Jim Rickards Discusses
Jim Rickards Discusses $4,000 Gold on CNBC:
http://www.youtube.com/watch?v=St7TF8q0T18
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
Do you think people that watched that woke the heck up?
Thanks for posting that I didn't see it!
There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him.
-Professor Bernardo de la Paz, The Moon is a Harsh Mistress
Robert A. Heinlein
History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower