The $150 call option (representing $1,500 gold) expring on Jan 21, 2011 I bought a few months ago for $.90 (bought $2,500 worth) is now selling at $.23 or down 75% (worth about $600). I made the bet on Jim Sinclair's call for $1,650 gold by mid-January 2011. He has had this date in mind for years. I will break even if gold hits $1,510 or so by that date. If gold will reach $1,650, the $2,500 becomes around $40,000. If gold fails to hit $1,500 or so, I lose the $2,500.

Jim has made me multiples of that over the years helping me stay in the PM markets so I thought I would join him in his $1,650 call.

stateside