NG continues to get blasted but look at this opportunity to load up on shares and dollar cost average on the way down. The gold is still there and at some point the company will be acquired for its huge undeveloped deposits. With measured and indicated reserves of over 27 million ounces of gold, investors are now buying over a quarter ounce of gold in the ground for less than $ 8 (27 million ounces of gold M&I divided by shares outstanding of 104.6 million shares). This doesn’t take into account substantial silver deposits.
Take a look at January open option interest and note the large number of calls at the 10.00 strike. Aggressive traders may purchase ten January 10.00 calls (NGAB) for 25 cents for a total risk of $ 250 before commissions.mmmmm