Why Barrick Gold Is a Good Buying Opportunity

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April 1 (Bloomberg) –- OneStopOption Chief Market Strategist Alan Knuckman discusses his ABX options strategy with Olivia Sterns on Bloomberg Television’s “Market Makers.” (Source: Bloomberg)

What do you think is keeping it in that range?

We have been able to close below are 14. that is important.

It last year, it was between 14 and 12. i want to look at this on a weekly basis.

We are at two and a half month lows.

The vix did not make any lows.

There is still downside.

Looking at trades, we saw paper trade at 5000. they sold those at $.40. they had to keep that raimi him, $200,000. or they can take a discount at 3460. the fda approved a new version of the da vinci robot system.

What are the options markets leaking of this?

There's been concern about the stock over the last year.

It sold down to 350. now it has broken an upside.

The option sale that i saw was selling 600 options.

That is not a lot.

It is a $500 stock.

The 530 call, they sold that for 1350. they take in money and give themselves upside.

You are watching barrett gold which is down 35% over the last year.

You say this is a time to buy.

I think there is value in gold.

They been trading between $22 and $14. we are at the midpoint.

Lean on that $18. i think it is an in the money call.

Below on the year is 1350. it is not been to $13 since 2000. it will cost about 550. it has an 85 delta.

We will look for this up to 30. if that happens, this will gain.

Risk down the -- breakdown the risk reward.

Now it is five dollars in the money.

It gives you $.50 the time of value.

You are risking essentially $250 on this trade.

The upside is to break out and get to $30. gold is trading below.

Oid want to trade?

I think it is a better value.

It is down more than the market and the sector itself.

I look for that to rebound.

1300 is an important level to watch gold on a weekly basis.

But assume we can do for the rest of the week.

Thank you for joining us.

We will be on the markets in 30 minutes.

"lunch money" is coming up.


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