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NEW POSITION TO BE ADDED TO JANUARY RECOMMENDED LIST

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ADDITIONAL PUT WRITE TO BE ADDED TO JANUARY RECOMMENDED LIST


We are recommending put writes in the following issues:


RGLD - Royal Gold, Inc.
engages in the acquisition and management of precious metals
royalties. The company primarily derives its royalties from three mines in Nevada that
include the Pipeline Mining Complex that include the Pipeline and South Pipeline gold deposits; the Leeville project; and portions of the Betze-Post mine. It also has producing royalties on the Troy mine in Montana, the Martha mine in Argentina, and the Bald Mountain mine in Nevada. In addition, the company owns royalty interests in various properties located in Lander County, Eureka County, Pershing County, Elko County, and Humboldt County, Nevada, as well as in eastern California; Santa Cruz Province, Argentina; and Russia. Royal Gold was incorporated in 1981 and is based in Denver, Colorado.


We are recommending adding the following specific put write to our existing January positions.

SELL RGLD JAN SYM: MJQ-MF
Target Price $35.00 30 Put
Potential Profit(10 x = $350.00
Initial Margin $7,096 10 (contracts)
Return on Investment 4.93%
Cost Basis in Stock = $29.65
Days to Expiration = 32
STOP EXIT STRATEGY
Close option position if Stock drops to => 30.00

If this position is filled it will bring our January position total to nine (9)

In addition we still have one (1) OPEN - GTC position in GGR that we
are hoping to fill.

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