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GORO
Oct 11, 2013 9:24:19 GMT -5
Post by huh on Oct 11, 2013 9:24:19 GMT -5
cant believe how bad this is are earnings really going to be that bad? Ive gone over their numbers and see nothing crazy to this point. Don't some of the funds have a rule where they can't buy stocks under $5? So ~$5 would be the best entry point for them?
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GORO
Oct 11, 2013 13:58:53 GMT -5
Post by huh on Oct 11, 2013 13:58:53 GMT -5
If GORO doesn't close right under $5 I'd be shocked. (Somebody's got to get rich on those puts, right?)
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GORO
Oct 11, 2013 14:37:36 GMT -5
huh likes this
Post by PoorHomey on Oct 11, 2013 14:37:36 GMT -5
If GORO doesn't close right under $5 I'd be shocked. (Somebody's got to get rich on those puts, right?) Open interest on Oct 19 GORO $5 puts is only 120 contracts.. Somebody may make a couple of hundred bucks if it drops deep into the 4's next week but I doesn't look like anyone stands to get rich.
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GORO
Oct 11, 2013 15:36:46 GMT -5
Post by huh on Oct 11, 2013 15:36:46 GMT -5
First off, I'm really stoopid when it come to options. So if I ever mention them, ignore me.
But is it really only 120 $5 put contracts open on a stock that's fallen 25% this month, and more than 75% in the last year? I ASSumed there would be thousands of monthly puts trading hands, and even hundreds of weeklies.
If I understand this correctly, if 1 person now owned all those put contracts, and had paid like 5 cents each for them, their current paper gain would be something like:
[current price] 120 contracts X .20 X 100 shares = $2400 MINUS [cost] 120 contracts X .05 X 100 shares = $600
= A total current paper gain of $1800?
Is that right? If so, why would anyone ever buy puts on something like this? Looks like the only ones who stand to really gain would be the call sellers.
I mean I know that's a triple profit % wise, but only $1800 with down moves like that?
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GORO
Oct 11, 2013 16:01:23 GMT -5
huh likes this
Post by PoorHomey on Oct 11, 2013 16:01:23 GMT -5
First off, I'm really stoopid when it come to options. So if I ever mention them, ignore me. But is it really only 120 $5 put contracts open on a stock that's fallen 25% this month, and more than 75% in the last year? I ASSumed there would be thousands of monthly puts trading hands, and even hundreds of weeklies. When it comes to options on individual stocks, the issue is that they're oftentimes extremely illiquid except for widely watched and traded names. The other issue is the bid/ask spreads - An bid of .20 and an ask of .25 = 20%!! Also, weeklies are only available on certain stocks and ETFs and the list changes fairly regularly. Here's a list of available weeklies www.cboe.com/micro/weeklys/availableweeklys.aspx
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GORO
Oct 12, 2013 22:54:19 GMT -5
Post by clinton on Oct 12, 2013 22:54:19 GMT -5
this is from GORO sept 2013 Buying back shares: $20 million authorized • Purchased +336,000 shares
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Post by clinton on Oct 12, 2013 22:57:35 GMT -5
Attachments:
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GORO
Oct 13, 2013 7:47:19 GMT -5
Post by jacksrbtr on Oct 13, 2013 7:47:19 GMT -5
What's GORO's total estimated gold resource amount? I did a perfunctory search but came up dry on that matter.
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GORO
Oct 13, 2013 9:19:20 GMT -5
Post by clinton on Oct 13, 2013 9:19:20 GMT -5
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GORO
Oct 13, 2013 10:30:38 GMT -5
Post by jacksrbtr on Oct 13, 2013 10:30:38 GMT -5
Thanks Clint Without getting into the nitty gritty the great thing GOROs got going for itself is that they already (unlike Continental) are in production!!! I was trying to find a comparable number to Continental's resource objective which is that they will show that the Buritica mine has 10M oz high-grade gold, but no such luck. Progress on the van at a standstill what with the monsoons - one of the shortcomings of not having a highbay garage I guess...lolololololol!
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GORO
Oct 14, 2013 6:55:07 GMT -5
Post by clinton on Oct 14, 2013 6:55:07 GMT -5
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GORO
Oct 14, 2013 7:56:03 GMT -5
Post by clinton on Oct 14, 2013 7:56:03 GMT -5
+2% bid pre market there are ZERO sellers at that price could be the big squeeze day
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GORO
Oct 14, 2013 8:36:13 GMT -5
Post by clinton on Oct 14, 2013 8:36:13 GMT -5
dayum goro flat no buyers scratching my head on this one
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GORO
Oct 14, 2013 8:42:46 GMT -5
Post by clinton on Oct 14, 2013 8:42:46 GMT -5
added some at 4.90
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GORO
Oct 14, 2013 8:44:13 GMT -5
Post by clinton on Oct 14, 2013 8:44:13 GMT -5
bear case was bad weather would hurt production
production report doesnt reflect this
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Post by clinton on Oct 14, 2013 9:02:01 GMT -5
BTW goro div is now 1.8% per quarter
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GORO
Oct 14, 2013 9:05:35 GMT -5
Post by clinton on Oct 14, 2013 9:05:35 GMT -5
naked shorters hitting this bid is 10X1 yet price keeps dropping
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GORO
Oct 14, 2013 9:15:30 GMT -5
Post by huh on Oct 14, 2013 9:15:30 GMT -5
Stopped out of GORO @ 4.68. 7% loss.
I can't stay with it if it won't bounce with GDX or Gold.
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GORO
Oct 14, 2013 9:20:42 GMT -5
Post by clinton on Oct 14, 2013 9:20:42 GMT -5
fundies still look good so Ill just wait it out and collect the monthly div in the mean time good production report makes me think this already lowered div is pretty safe
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GORO
Oct 14, 2013 10:22:27 GMT -5
Post by jacksrbtr on Oct 14, 2013 10:22:27 GMT -5
naked shorters hitting this bid is 10X1 yet price keeps dropping I'm beginning to think miners will test the GDX or GDXJ July bottoms which REALLY sucks 30 inches of mercury.
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