Extending Yamana Gold (AUY) Covered Calls

While I may have lost Minefinders (MFN) on covered calls, today’s massive gold miners correction allowed me to pull back the Yamana $16 Oct 2011 covered call. I bought back those calls and sold Jan 2012 $17.5 calls, for a net credit of $0.31 per contract. Not bad –¬† pocketed some change while adding another point¬† and a half of upside in case AUY moves up.

Busier than usual day today.

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