Put Options on ABX on 5/20/2014

Barrick Gold Corporation (ABX) produces and sells gold and copper.

It is also involved in exploration and mine development activities.

The company holds interests in various properties located in the United States, Zambia, Chile, Dominican Republic, Argentina, Tanzania, Canada, Saudi Arabia, Australia, Papua New Guinea, and Peru. As of December 31, 2013, the company had proven and probable mineral reserves of 104.1 million ounces of gold and 14.0 billion pounds of copper. 

Shares are heading lower in a downward trading channel. Lower share prices are expected for this stock.

52-Week Trading Range: $13.43 - $21.68

Last Trade: $16.56

Trade Buy 1 June $17.00 Put at $0.80 For a net debit of $0.80 Profit/Loss Analysis Breakeven at $16.20 Maximum profit is unbounded Maximum loss is ($80.00) at strike of $17.00 Closing Summary Sold 1 June $17.00 Put at $1.28

Position closed on 5/27/2014 at price of $1.28 with a 60.00% gain in 7 days.

Updates

5/27/2014 10:38:15 AM

We are taking profits on ABX put options at $1.25

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