06-21-2021, 10:50 AM
(06-21-2021, 10:34 AM)crimsonghost747 Wrote: Barrick Gold seems to be at a good level here.
I have no idea if this has a fancy name or anything.
But I bought some shares, sold some calls against those shares, and also sold some puts.
Barrick and Newmont are the leading miners and they mine industrial metals as well. I watched some paper profit evaporate last week but I got in much lower, and actually missed half the gold rally. I don't view them as a get rich idea, but they are supposedly profitable down to gold $1000 and the dividend is safe not much higher than that. They have deleveraged which is smart. I am good with owning them as a hedge if they stay flat, and option income has been very easy if you don't chase them too early when they swing up or down. Gold is very manipulated and I don't even bother trying to figure out where it might swing over the course of a few weeks.