Only Price Pays

[boca_bobby]

CHK Info:

From Yahoo
Chesapeake Energy Corporation, an oil and natural gas exploration and production company, engages in the acquisition, exploration, and development of properties for the production of crude oil and natural gas from underground reservoirs. It also markets natural gas and oil for other working interest owners in properties it operate. The company's properties are located in Oklahoma, Texas, Alabama, Arkansas, Louisiana, Kansas, Montana, Colorado, North Dakota, Nebraska, New Mexico, West Virginia, Kentucky, Ohio, New York, Maryland, Michigan, Mississippi, Pennsylvania, Tennessee, Utah, Virginia, and Wyoming. As of December 31, 2007, it had 10.879 trillion cubic feet equivalent of proved reserves; and also owned interests in approximately 38,500 producing oil and natural gas wells. The company was founded in 1989 and is headquartered in Oklahoma City, Oklahoma.

http://finance.yahoo.com/q/pr?s=CHK

from CNBC
http://www.cnbc.com/id/26268897/?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo


I also seem to remember hearing about CHK buying up land in the area of the new discoveries found in the Gulf states where a huge Natural Gas find has been made. Knowing this I think we can play this two ways:

1.) In the short term look to my suggested Sep Calls

2.) But a better play may be the long term play of Jan09 $70/CALLS currently priced @ $0.95 that you pointed out in your post.

It all depends on how long you want to tie up your capital, IMO.

Boca_Bobby