Derek Webb, CFA
Anglogold Ashanti Ltd.
AU-N
PAST TOP PICK
Feb 11, 2010
(A Top Pick Feb 3/09.) (BNN doesn't calculate % gains/losses anymore. Would make my job easier! Bill) Covered call writing. Long at $26.92, Short Feb. $30 Calls for $1.50.
South African operating margins are being squeezed by the strength of the rand. Does have some major operations outside of S.Afr. A good stock if you want a general exposure to the gold market.
Covered call writing. Long at $26.92, Short Feb. $30 Calls for $1.50. If you annualized the numbers you get about 30% a year presuming you keep rolling the options.
It is pricy so take half your position and sell it. The big theme is wearables. There is a core of individuals who would want the information their products could deliver. It is pricey in terms of valuation. He would be interested if he saw a significant dip.
(A Top Pick Feb 3/09.) (BNN doesn't calculate % gains/losses anymore. Would make my job easier! Bill) Covered call writing. Long at $26.92, Short Feb. $30 Calls for $1.50.