Last Friday I gave you a list of Gold stocks and options to watch as the market headed lower. That analysis was spot on so protect your positions if you are showing a profit.
Barrick Gold (ABX, $46.24, up $0.74), was $45.44. Hit a high of $47.00 this morning. The July 45 calls (ABXGI, $2.50, up $0.35, or 16%) were mentioned at $2.10. A stop of $2.30 gets you a nice 10% profit and keeps you in the trade for higher moves.
Goldcorp (GG, $48.23, up $2.06), was $46.73. High of $49.10. The July 47.50 calls (GGGT, $2.33, up $0.83, or 55%) were going for $1.80. Big move here, folks. Set stops at $2.15.
Gold Fields (GFI, $12.70, up $0.06), was $12.57. Not much pop behind this one due to the low share price. The July 12.50 calls (GFIGV, $0.70, up $0.10, or 17%) were profiled at $0.60.
Newmont Mining (NEM, $53.02, up $0.86), was $52.88. This stock isn’t as explosive as the first two I mentioned and sometimes the stock trades to its own beat of the drum. The July 55 calls (NEMGK, $0.90, up $0.22, or 32%) were mentioned at $0.94 so they have actually lost a little bit despite today’s big move.
The price of gold for is up big today, nearly $12.00, to $940 per ounce.