Silver Calling

[earthstar]

With the ETFs demand for silver so huge right now we have some nice options looking at us.

What ideas do we have for some good plays here?

[Pook]

With the ETFs demand for silver so huge right now we have some nice options looking at us.

What ideas do we have for some good plays here?

What is your risk tolerance and do you trade a lot?

Pook

[LikeGreen]

And can you afford the nut to buy close to the money? That's what would excite me.

I agree that in this downturn, with the ETF possibly close, buying close to the money seems a nice thing to be able to do.

Like, September or December $13-15 calls? I haven't looked yet, but I bet those bad boys are pricey. And pay off nicely.


LG :smokin:

[lhslancers]

And can you afford the nut to buy close to the money? That's what would excite me.

I agree that in this downturn, with the ETF possibly close, buying close to the money seems a nice thing to be able to do.

Like, September or December $13-15 calls? I haven't looked yet, but I bet those bad boys are pricey. And pay off nicely.


LG :smokin:

That 12 dollar put I was kidding about for 775 last nite would have been golden huh? closed at 4590 today.

[DrillAndFill]

And can you afford the nut to buy close to the money? That's what would excite me.

I agree that in this downturn, with the ETF possibly close, buying close to the money seems a nice thing to be able to do.

Like, September or December $13-15 calls? I haven't looked yet, but I bet those bad boys are pricey. And pay off nicely.
LG, I think you speak the truth here, but you are making an assumption. Usually this assumption is reasonable: that the market is not controlled by gangsters.

I am looking at plenty of option plays right now, including tons of calls on various junior mining stocks, and your suggestions on commodities options seem about right. But, having seen what I just saw on April 20th, I don't know how you'll be able to sleep if you buy Comex contracts. So I'm leaning toward stocks instead, or more physical.

This is the beginning of a long thinkey I'll be having on this topic...:thinkey:

[LikeGreen]

I think they let it rise after the 26th (May Expiry.) If The ETF launches at the end of the month, it goes up a little more.

We've seen them let it run up just to squash it a week before expiry date.

So...they just defined the game.

Play it by their rules.


You don't have to hold the options to expiry to make a lot of dough.


As far as the stock options, play some in a stock you like. I have the CDE 7.50 and 10. I expect it to go up past strike and to excercise them. That way you can decide to pocket the gains a couple of months out, or call in the shares at a nice price.

Stock options are a little cheaper to play with, also. Those COMEX options are pricey.

(Just don't foget how new I am to this. No genious here.)


LG :smokin:

[LikeGreen]

That 12 dollar put I was kidding about for 775 last nite would have been golden huh? closed at 4590 today.

Ya, but you would have to been a real Hamm to play that one.

You telling me you would have had the stones to buy a 12 call at 14.50, like 8 days out?

That's nuts or throwaway money.

Or like Greenspan playing his string of way OTM grain options.


LG :bandito:

[Pook]

LG, I think you speak the truth here, but you are making an assumption. Usually this assumption is reasonable: that the market is not controlled by gangsters.

I am looking at plenty of option plays right now, including tons of calls on various junior mining stocks, and your suggestions on commodities options seem about right. But, having seen what I just saw on April 20th, I don't know how you'll be able to sleep if you buy Comex contracts. So I'm leaning toward stocks instead, or more physical.

This is the beginning of a long thinkey I'll be having on this topic...:thinkey:

Buying calls and making money isnt too difficult in a bull market if you have
some seed money to risk. If you believe in this bull, it isnt too bad. We started with a little bit of money three years ago and have lived on our calls. Its gonna go up...

[lhslancers]

Ya, but you would have to been a real Hamm to play that one.

You telling me you would have had the stones to buy a 12 call at 14.50, like 8 days out?

That's nuts or throwaway money.

Or like Greenspan playing his string of way OTM grain options.


LG :bandito:


June put and I told you I wasn't playing it.

[LikeGreen]

June put and I told you I wasn't playing it.


Yeah, I know. I mistyped/misremebered it. Just joking bout it, then and now.


if you did, you would either be:

1) a dumbass

2) crazy

3) in bed with the traders and knew what was coming.


Actually, now I'm thinking: they are sure to screw with this the same way next time around. Like I said, they are making the rules for us right now. The game is laid out. Just below the money puts, one expiry out, two weeks before expiry. July $13 puts on June 19th? Hmmmm...


Not so funny now...


Or maybe I'm just thinking too cute.

LG :wavey:

[earthstar]

What is your risk tolerance and do you trade a lot?

Pook

I have a high risk tolerance and no, I don't trade tons. But recently I've been buying (virtually) May or June calls for XAU just ITM generating a few hundred dollars very short term and thousands even in the next few days on just $2,500 plays.

Making thousands short term like this really got me interested in doing the same for silver whith the ETFs coming. I thought I'd check in here and maybe garner some pearls from you all.

So silver options and futures are way more expensive than gold? What are some silver ideas I could paper trade with to get the hang of it more?

Thanks, You guys are great. :clap2:

[Pook]

I have a high risk tolerance and no, I don't trade tons. But recently I've been buying (virtually) May or June calls for XAU just ITM generating a few hundred dollars very short term and thousands even in the next few days on just $2,500 plays.

Making thousands short term like this really got me interested in doing the same for silver whith the ETFs coming. I thought I'd check in here and maybe garner some pearls from you all.

So silver options and futures are way more expensive than gold? What are some silver ideas I could paper trade with to get the hang of it more?

Thanks, You guys are great. :clap2:

Earthstar,
You can find the prices for silver options here:
http://www.nymex.com/disclaimer.aspx I think those quotes are updated once a day. Each option represents 5,000 ounces of silver. (You probably know all of that already,) Good luck in whatever you decide to do.

[earthstar]

Who's making money on gold calls NTM for May and June?

[earthstar]

Thanks, I ended up picking up and AUG mini Gold at 568. Upt to 571 now,