@insightanayltical, Why would you own SLV when you know that the JP Morgue is the custodian. I don't think you have to worry about the price collapsing but the Chinese are raiding the vaults on SLV. You think you have metal backing your shares but don't hold your breath. SELL. if you have to have an ETF/PAPER- buy sprott. or better yet take the money and buy physical.
I am sitting in some of those cheap calls for march. Vertical is good. I'll close if I fear that SLV might become insolvent, but I'd like to take some leveraged profit and go buy more physical with it.
I got some of the March 36 calls, Like Dr. J said, I am just leveraging for some physical. If it pops I should have some cash, if not I should have bought some physical with LOL
I'm waiting till $40-45 to dump Calls, I think $50 will be the end of SLV or show a sign of reversal short term pending metals data...but IF...the march (comex) deliveries roll till May, if they dont, she's bust in March/April. Your guess is as good as mine as to what happens after that.
Could you explain what happens in Mid-March to SLV? I own my last bit and don't want to get caught plummeting to 0!!
ReplyDeleteI know I have to get out soon...before 2/23 on silver options expiry or before March 19th??
Thanks! I wasn't really up to snuff on the SLV options story...
@insightanayltical,
ReplyDeleteWhy would you own SLV when you know that the JP Morgue is the custodian. I don't think you have to worry about the price collapsing but the Chinese are raiding the vaults on SLV. You think you have metal backing your shares but don't hold your breath. SELL. if you have to have an ETF/PAPER- buy sprott. or better yet take the money and buy physical.
Blythe - I would hit it.
ReplyDeleteAnybody buying any March calls and if so at what strike price. The $35 ones are cheap at 7 cents, if you think it will really go vertical in March.
ReplyDeleteSGS said he had some Jan 2012 options at $35 the other day, I think i'd prefer those, or maybe something in between.
I am sitting in some of those cheap calls for march. Vertical is good. I'll close if I fear that SLV might become insolvent, but I'd like to take some leveraged profit and go buy more physical with it.
ReplyDeleteI got some of the March 36 calls, Like Dr. J said, I am just leveraging for some physical. If it pops I should have some cash, if not I should have bought some physical with LOL
ReplyDeleteSierra, et al..
ReplyDeleteI do own the good stuff, but this is the remnants of a SLV buy...I've already sold off most of it. Just wondering about the timing of my final exit.
I already dumped my few remaining shares of GLD...
I'm waiting till $40-45 to dump Calls, I think $50 will be the end of SLV or show a sign of reversal short term pending metals data...but IF...the march (comex) deliveries roll till May, if they dont, she's bust in March/April. Your guess is as good as mine as to what happens after that.
ReplyDelete