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The Newmont Diary


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The Newmont Diary

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  #1 (permalink)
Market Wizard
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Newmont Mining Corp.

This diary is about my NEM trading. I always liked NEM and I like gold. So, I am going to journalize my series of transactions. Let's see what I can do.

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I was in/out SWC.

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cory View Post
I was in/out SWC.

Thanks Cory, My go to company for PGMs.

Nem in Hungarian means "No".

Okay, let's move on. The first NEM trade, yes? Yes.



I am doing what is called a RadioActive trade. But it is my way of doing the RadioActive trade. RadioActive meaning the decay of the option premiums. Isn't that clever? I have 200 shares of NEM married to 2 DEC 12 60 puts. When I bought NEM, I did it with a BuyWrite, selling the May 11st 48 calls. With the 2 puts, I have limited downside. The 60 puts have a Delta of .80 so if NEM raises a point the put only declines .8 of a point. Also, I am writing the weekly OTM options against the position, as with this BuyWrite, to generate weekly income. With the 48 calls, if NEM trades tomorrow at 48, I will buy 200 more shares to cover the call position and sell two more OTM calls.

When you look at the weekly/daily chart you can see why I married 2 puts to NEM.


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so I rolled over to next Friday the triple witch



just some charts I was watching to keep me on the right side of the trade


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I wrote the 47 calls Friday vs. the 48s for the better premiums. NEM's looking like it's trying to find a bottom. So I have to be on guard against a quick move up to 47.


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popped up after opening lower, so I didn't roll down my calls a notch. I will wait for a clear 2 points before rolling to 46


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come later in the afternoon, I saw the market melting down along with the gold stocks, NEM, so I rolled down two strikes for the premium. 47 to 45. Now I must guard 45. It's like playing 21, when the dealer collapses, jump on it.



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NEM was UP all day long



I will look for the bottom to hold. Most likely a little early ..................


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I traded NEM. It is just all over the place on the price ladder, so I used a STPLMT order. If my trade failed, I wrote the 44 calls since tomorrow is options expiration and it costs a dime to call 100 shares. I am a point and a quarter above 44. I tried the 2 range and 4 range, but they are choppy, so I settled on the 30 second chart.



I have enough juice in my account for another 200 shares which are needed for straight trading and at the end of the day to write 2 calls for next week, if NEM stays above 45.



The 30 second chart trades well, just read it and trade it. But price moves fast............

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