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  • unlimited_aw unlimited_aw Jan 19, 2012 9:32 AM Flag

    healthy jump in gold and silver

    Hi JB,

    KOG is technically a strong buy. It has pretty much support at $ 9.30. You thus might want to wait for a short reversal and then jump in. But as you say you don't want to miss out the present opportunity, think about selling a put June 10. The premium is $ 1,55 allowing you to collect 15% on the underlying investment of $ 1,000 per 100 shares in just 4 months. In case the shares won't hold the $ 9,30 support level, you start loosing below $ 8,55, which is your breakeven....

    Don't sell more puts than your desired position...