tag:blogger.com,1999:blog-3458662032196157528.post6297965955912518880..comments2023-10-18T11:39:17.777-04:00Comments on silvergoldsilver: Paging Blythe, SLV call volume still outpacing puts, paging Blythesilvergoldsilverhttp://www.blogger.com/profile/10732783832338768734noreply@blogger.comBlogger75125tag:blogger.com,1999:blog-3458662032196157528.post-9367172018644346632011-05-07T22:35:23.378-04:002011-05-07T22:35:23.378-04:00I think I accidentally posted twice... I think my ...I think I accidentally posted twice... I think my first one wasn't approved before I posted the second one. Sorry about that.flaunthttps://www.blogger.com/profile/13532992401984842963noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-27858627951870434642011-05-07T22:34:04.160-04:002011-05-07T22:34:04.160-04:00Roger, I thought I already posted this but I don&#...Roger, I thought I already posted this but I don't see it so I'll post it again. I would be more inclined to first get rid of the options expiring earlier. A rule I have is that I never trade front month options unless it's just a day trade or it's a hedge and I fully expect them to expire worthless. Once an option is close to becoming front month then I seriously look for opportunities to get rid of it. It's just too dangerous too hold a contract that is expiring in a few weeks, especially in a market as volatile as PMs.flaunthttps://www.blogger.com/profile/13532992401984842963noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-20859768486359669562011-05-07T21:44:09.206-04:002011-05-07T21:44:09.206-04:00@Earl
I'm sure you'll have time. Good luc...@Earl<br /><br />I'm sure you'll have time. Good luck to you!Richhttps://www.blogger.com/profile/05565888037784431310noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-45945402270226912442011-05-07T20:19:15.243-04:002011-05-07T20:19:15.243-04:00Roger, if you're going to get rid of the calls...Roger, if you're going to get rid of the calls you bought I'd do the ones that have less time before expiration first.flaunthttps://www.blogger.com/profile/13532992401984842963noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-37830240437279108902011-05-07T18:03:16.042-04:002011-05-07T18:03:16.042-04:00@ LEDBED here is what my broker quoted me on may ...@ LEDBED here is what my broker quoted me on may 4th: <br /><br />Any interest in a December silver call spread at this point? Some options for you below. We could always spend more, less, or take a pass depending on what your thoughts. Let me know.<br /><br />December Silver:<br /><br />45/46 call spread: $1600 bid / $1900 offer<br />46/47 call spread: $1400 bid/$1650 offer <br />47/48 call spread: $1350 bid/$1600 offer<br /><br />is a call spread different from just purchasing just an outright option? my funds are somewhat limtied so my broker works with me to make the right decision. please let me know you thoughts. <br /><br />Thanks2pac4yahttps://www.blogger.com/profile/15321226376351169379noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-80555450083117485632011-05-07T17:13:18.473-04:002011-05-07T17:13:18.473-04:00@ Rich. thanks bro. i do have alot of studying and...@ Rich. thanks bro. i do have alot of studying and homework to do. Thanks for takin the time to explain. Wondering if there will be time to learn this stuff before our economy really turns to shit....Earlhttps://www.blogger.com/profile/11975949037690915946noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-79756062977538811112011-05-07T17:07:49.463-04:002011-05-07T17:07:49.463-04:00Thanks flaunt. I didn't know I could get forc...Thanks flaunt. I didn't know I could get forced to buy the ZSL call if its ITM. I am buying tomorrow.<br /><br />I think I'll hold on to the precious metals calls for now. I want to phase out of these calls and go back to writing covered calls for assets I already own.<br /><br />One general question, if the metals market turns and heads up - I will start selling my calls. I have a SLV, GDX, and GDXJ ranging from July to December. In general, if the market heads up which type of call is it better to sell first:<br /><br />OTM July contracts at a small loss.<br />OTM Sept-Dec. contracts at break even.<br />ITM Sept-Dec. contracts at a moderate gain.Rogerhttps://www.blogger.com/profile/07055215793791912409noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-663684720312169752011-05-07T15:49:29.861-04:002011-05-07T15:49:29.861-04:00Thanks flaunt, that helps. If I buy back the ZSL ...Thanks flaunt, that helps. If I buy back the ZSL calls now, I'd lose about 20% of my non-retirement savings - which is about 2 weeks salary. This was supposed to be money for family expenses, so I feel horrible. I was originally going to write deep in the money covered calls for dividend paying stocks - hoping to pick up 2% per month. This seems like a very conservative approach, which is more my style. I saw the ZSL premium and thought "no way this goes over $23" and grabbed it. Then all heck broke loose with many of my positions.<br /><br />These options are so contrary to my trading style. I save nickels and dimes and make low-risk micro-profits that add up over time. I've been making about 20% per year the last couple of years. I've lost all profits from last year in a matter of days. I can honestly say I now know what absolute panic and extreme stress of trading feels like. I feel an ulcer developing and had thoughts of just wanting to die (which is totally not me). Its not just losing. Its what the money represents. Each week I make microprofits and read up on financial news. I calculate my worth in dollars in gold ounces - hoping for a couple percent each month. Hoping that I can move my family to a better place. Hoping I can pay for my wife to go through graduate school. Each week I made a small step forward and this week I got absolutely crushed. The good news is my wife has been very supportive.<br /><br />I didn't realize my ZSL position could get exercised at any time if it is in the money. I will sell it tommorrow and go back to covered calls. Unfortunately, all the positions that got liquidated were down as well. The only bright spot is that I can write it off as a tax deduction.<br /><br />As for my retirement calls I bought, I have been buying them into weakness into the lows. SLV, GDX and GDXJ have all taken a beating. I would have bought shares anyway. It was just so easy to keep buying options. Now, I'm highly leveraged. <br /><br />I'll hold onto the precious metals options for a bit. I'm not looking for advice, but in general: if price does rebound is it better to start selling OTM July calls at a small loss/break even and hold my ITM Sept-Oct calls? Or should I do the flip - sell the ITM Sept-Oct calls at a profit and hold on to the OTM July calls?Rogerhttps://www.blogger.com/profile/07055215793791912409noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-66249202245684354152011-05-07T15:09:44.188-04:002011-05-07T15:09:44.188-04:00moriarty is a foul mouthed horses ass, not to men...moriarty is a foul mouthed horses ass, not to mention liar.<br /><br /> he neglects to mention that in march he told everyone to dump silver at 27, it wnt to 50, and he takes money, what a crooked assholevamoosehttps://www.blogger.com/profile/17964897336061069072noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-9448245457480290042011-05-07T14:51:22.487-04:002011-05-07T14:51:22.487-04:002pac4ya: Just went to check quotes. December 50 ...2pac4ya: Just went to check quotes. December 50 calls are going for 1.291 ($6,455) and 65 calls are going for .38 ($1,900). There is a gap at 48.612. If you get in any of the options bewteen 50-65 and if it just closes the gap, that will a nice % return. As I have stated, I am a commodities/futures guy. I rarely look at stocks. I am sure someone in this community can give you advice on stock options if the options I told you about are to pricey for you.Ledbedderhttps://www.blogger.com/profile/09570925439012096094noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-25802911516804418372011-05-07T14:40:37.586-04:002011-05-07T14:40:37.586-04:002pac4ya: yes2pac4ya: yesLedbedderhttps://www.blogger.com/profile/09570925439012096094noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-37625827330266325682011-05-07T13:01:21.827-04:002011-05-07T13:01:21.827-04:00@ Ledbedder.... thanks man. well as for right now ...@ Ledbedder.... thanks man. well as for right now I am looking to learn more about trading stocks. I understand realestate and have a few rentals and would like to accumulate more but spending most money on peparing for the endgame for the time being. Getting ready to purchase another house here soon. but looking for something that i can do from home to make some more money so i don't have to work so much. I currently have a job that i can choose to work anytime i want day or night so my time is as wide open as i need to to be. thanks<br /><br /><br /><br /><br />As for you yumchoy I really don't give a shit what you have to say because i have better shit to do than look up peoples comments on blogs to talk shit to them to make myself feel better. Hope it works for ya. Good luck with life dude. Just remember karma is a bitch and will hit you tenfold.Earlhttps://www.blogger.com/profile/11975949037690915946noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-70558869357773433762011-05-07T12:38:13.715-04:002011-05-07T12:38:13.715-04:00Roger,
Seems to me your biggest risk is those ZSL...Roger,<br /><br />Seems to me your biggest risk is those ZSL calls you sold -- They are already in the money so you run the risk of getting exercised at any point in time. Most likely that won't happen until expiration day if they are still in the money but it could happen sooner. <br /><br />You should calculate your profit/loss scenarios and then try to decide what to do. For example, if you bought back your calls how much would you lose? If you bought ZSL at today's prices to cover your contracts what could you potentially lose? i.e. if the price of silver rebounds the contracts could expire worthless and you would be stuck with ZSL shares in the red. You need to define your risk because it sounds like right now your portfolio is hemorrhaging all over the place. No wonder it's causing you so much stress. <br /><br />I can't tell you what to do but personally I would at least think about buying back the calls since the risk in holding the position is infinite.<br /><br />As far as the other options go, if it wouldn't kill you to lose all the money you have in them, I would probably let them ride. Anything could happen going forward but one thing is for sure... There will be lots of volatility. The SLV put will give you a little protection on the downside, and if SLV falls from here you can let it ride and when you think it looks like a bottom you could sell that position and go long in another position.<br /><br />Hope that helps a bit.flaunthttps://www.blogger.com/profile/13532992401984842963noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-76529550145781719682011-05-07T11:53:25.638-04:002011-05-07T11:53:25.638-04:00@ledbed... is this still the play?
To tell you...@ledbed... is this still the play? <br /><br />To tell your broker: start looking at December calls at $50 to $65. See if you can afford. if you can, have them buy it on a "limit" order for that price. Hope that helps.2pac4yahttps://www.blogger.com/profile/15321226376351169379noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-31430749753626932472011-05-07T10:59:03.120-04:002011-05-07T10:59:03.120-04:00yumchoy: you're a dickyumchoy: you're a dickLedbedderhttps://www.blogger.com/profile/09570925439012096094noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-64571427272315453062011-05-07T10:08:49.886-04:002011-05-07T10:08:49.886-04:00@SGS
I confess. I am a Bruins Fan. Bye bye flyer...@SGS<br /><br />I confess. I am a Bruins Fan. Bye bye flyers, this cup of redemption tastes delicious.ljhillhttps://www.blogger.com/profile/11611388106448304142noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-22013956027367348902011-05-07T09:31:13.131-04:002011-05-07T09:31:13.131-04:00Always some good info here...
http://kingworldnew...Always some good info here...<br /><br />http://kingworldnews.com/kingworldnews/Broadcast/Broadcast.htmlRichhttps://www.blogger.com/profile/05565888037784431310noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-63717992501167380842011-05-07T09:00:44.993-04:002011-05-07T09:00:44.993-04:00Roger,
I can't comment on your options experi...Roger,<br /><br />I can't comment on your options experience since I have so little experience of my own with them, but I feel for ya! I think I can help you in one little way in regards to Interactive Brokers...<br /><br />Open the "account" window from within your TWS, put your mouse icon over one of the positions in your portfolio section and right click on it. A window should appear with several options in it. The one you should be aware of in this particular instance is the "Set Liquidate Last" option. This allows you to prioritize your positions so that, in the event of a margin call, IB will be a little more particular about what positions of yours they dump as long as your less favorite positions can cover the call.Richhttps://www.blogger.com/profile/05565888037784431310noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-69249196229458099302011-05-07T08:43:20.324-04:002011-05-07T08:43:20.324-04:00Earl,
Don't make the mistake that a lot of pe...Earl,<br /><br />Don't make the mistake that a lot of people do that you can just up and quit your current job and become a profitable trader in a month. Most profitable traders have put the time equivalent of at least 4 years of college into learning what is necessary to be successful. Trading may look simple, but it's not easy. Not without a lot of work and experience. <br /><br />Speaking of experience, trading is one career where, no matter how much you read and think you know, you don't know shit until you put your skin in the game. Paper trading can be helpful from the technical perspective, but the most important component of trading isn't brought into the experience until you're trading live with your own capital.<br /><br />Anyone can learn the technical aspects of trading. Do it any way that works best for you, be it through reading books and websites, taking classes, or the way I did it... buying a subscription to eSignal or another charting service and read everything on the "chart school" section of stockcharts.com and by talking/chatting with any trader who will talk with you. That's the easy part.<br /><br />The part that separates the men from the big swinging dicks is the psychological aspect. The market will turn the toughest badass into a blubbering crybaby within a day. Every mental and emotional weakness you have will be revealed and toyed with by the markets. If you don't go into it with humility and an honest willingness to look inside yourself to observe and correct every attitude and thought you have that causes you to lose, you won't last a year.<br /><br />In my opinion, trading is the most fun, rewarding and, eventually, easy way to earn good money, but make no mistake, you will most definitely earn that end result. Most people go through their own personal Hell on the way there first.<br /><br />To get back to the question you actually asked, my advice is to first become as clear as possible about what kind of trader you are. There are many different ways to trade and vehicles to trade with. Find a style that fits your personality. For example, if you're a very, busy, active, mental, high strung type, then you might be more inclined towards futures scalping (scalping is getting in and out on small increment moves that usually last no more than a few minutes). If you're a brainiac then perhaps options. If you like to keep things slow and simple then you might enjoy swing trading stocks and simple options plays like SGS seems to be doing.<br /><br />Hope you find this helpful.Richhttps://www.blogger.com/profile/05565888037784431310noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-30513373693915678722011-05-07T08:16:35.549-04:002011-05-07T08:16:35.549-04:00@flaunt and gaudsilver:
I may have used the termin...@flaunt and gaudsilver:<br />I may have used the terminology wrong, but I did make mistakes with ZSL options and had my account liquidated with interactive brokers.<br /><br />Over the last few years, I have been buying gold/silver bullion and equities in a pyramid foundation. As price goes down, I keep buying a bit more. As price goes up, I sell a bit. Its worked well, so I decided to try buying options in a pyramid foundation. Due to the leverage and sharp pullback, I've had large losses. Normally, they wouldn't bother me so much because I know I own an asset, but its this time and premium factor with options that gives me stress.<br /><br />Regarding the ZSL:<br /><br />On May 3rd, I sold $22 and $23 OTM ZSL May options for in a range of 0.4 to 0.6. I did not own the underlying ZSL shares. I figured ZSL had very little chance of reaching $23 by May 20 expiration and I would get the premium with little risk. Also, I thought as long as the price of ZSL was below $23 on May expiration, I was OK. As the price of ZSL zoomed up, my the ZSL options I sold skyrocketed in price and since I did not own the underlying ZSL shares, that position value plummetted. Interactive brokers force liquidated all my other positions. I didn't fully understand what was going on and had other options on fire as well. I finally bought some slv puts to balance out the ZSL position. ZSL $23 options are now at 2.50 and my account still shows a huge red market value that IB seems to hold against me. If ZSL closes below $23 on May expiration, then I won't owe anyting on the the ZSL options I sold, right? I just don't want to buy the options I sold at a huge loss. On Friday, I panicked a bit and bought slv puts to balance out the ZSL. Right now, the account has negative three ZSL May $23 calls (bought at about 0.45, now worth 2.50). Also, one slv put (bought at 3.29, now worth 3.15). I just don't know if I should hold for expiration or just dump it all for a loss.<br /><br />Overally, as the silver/gold price declined, I kept buying more and more options. A contract is only a few hundred bucks and it didn't seem like too much. I think I'm making matters worse now. For example, I bought $42 slv June call options last week that have lost almost all their value. Since, I didn't think slv could reach $42 by June, I sold all of those for a loss and bought an October $36 SLV option in the hope that SLV can rebound by then.<br /><br />Overall, my trading account is 50% of my savings. I bought lots of options last week into the decline - gdx, gdxj, and slv. Most were near ATM at the time. They now range from July to December. These options make up about 16% of my trading account and 8% of my overall savings. I did buy these options into a substantial correction - about the only thing I did right. My hope at this point is a turn in the market, so I can sell these options at a small profit. I want to phase out of this options game and go back to just buy/sell the assets with no leverage. It just seems like a bad idea to sell them at this point since the gold/silver market has had so much weakness recently.<br /><br />Thanks for you input. Its appreciated.Rogerhttps://www.blogger.com/profile/07055215793791912409noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-41759873231770564852011-05-07T06:56:13.374-04:002011-05-07T06:56:13.374-04:00UK Phyzz® Update
My dealer is working Saturday to...<b>UK Phyzz® Update</b><br /><br />My dealer is working Saturday to keep up with demand. They have never been busier apparently.<br /><br />Keep in mind, in the UK, there is 20% VAT on AG.<br /><br />Silver, let's get physical!Yousifhttps://www.blogger.com/profile/04685307167259772307noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-49086659813979912232011-05-07T06:14:21.539-04:002011-05-07T06:14:21.539-04:00Hey Earl, if you are really making 3k a week then ...Hey Earl, if you are really making 3k a week then you should keep buying phyzz and every night you should thank GOD that you make so much money because you come across as a dumb fuck. You will be bankrupt in less than a month if you give up your job and start trading. Very smart people get fucked up the ass when they try to make coin trading. You will be fucked, probed and fisted before you are dumped on the shit-pile of wannabe get rich traders because I read a fucking investment blog and I think I know what the fuck is happening in the world. Go to whoever is paying you 3k a week and say thank you and insert his/her dick in your mouth and show some fucking appreciation that a sorry ass dumb fuck like you makes 150k a year!yumchoyhttps://www.blogger.com/profile/15355054907244638948noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-42589372427248909972011-05-07T06:11:49.074-04:002011-05-07T06:11:49.074-04:00Earl: do you want to trade or invest? HUGE differe...Earl: do you want to trade or invest? HUGE difference.Ledbedderhttps://www.blogger.com/profile/09570925439012096094noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-39464978212935098692011-05-07T06:08:57.013-04:002011-05-07T06:08:57.013-04:00Earl, as far as Stansberry, they are legit. What I...Earl, as far as Stansberry, they are legit. What I have found is they offer many newsletters, so it is confusing what to subscribe to. Some of their subscriptions are near $2,000/year. Their basic newsletter is something like $50/year. Start with the basic newsletter and see if you like what you read/can use what they advise. Good luck.Ledbedderhttps://www.blogger.com/profile/09570925439012096094noreply@blogger.comtag:blogger.com,1999:blog-3458662032196157528.post-35753374382071301872011-05-07T04:03:22.971-04:002011-05-07T04:03:22.971-04:00so.... to anyone ... what is the best way to learn...so.... to anyone ... what is the best way to learn more about trading? suggested reads? Im really tryin' to find a way to get out of my job so i can spend more time with my family. I have a decent Job but like you know it stands for just over broke. Only makin about 3k a week and to do that takes most/all my time. then with that i spend most my money on phyzz tryin to prepare for the endgame. Oh and just curious has anyone heard of stansberry's investment advisory? just watched the vid but not sure I'd learn much from joining his site. Thanks for all of your help guys.Earlhttps://www.blogger.com/profile/11975949037690915946noreply@blogger.com