I have 15k shares with Mar covered calls sold this week - half at 42 and half at 43 for a 5% premium for 2 1/2 weeks. I have been doing covered calls on SLW for the last year and it has worked well.
There are plenty of people with this many shares on YHOO boards. There are also many people who know how to make money but not how to invest. I use a Hedge Fund for most of my savings. But even people with a lot of money get taken as their Greed gets the better of them. That is why there are people like Bernie Madoff. This is why it's always better to not share the amount of shares one owns.
I will not purchase any puts. I agree with many that Ag will go up even if we sustain periods with a downtrend. Same thing with energy & soft commodities. Long term they will only go up. I wish everyone luck. I think we will have a great year for Au/Au but I believe the U.S. Dollar will continue to be devalued. Wish I was wrong.
With that number of shares you should have an advisor with all the answers and a grammar teacher that knows how to spell puts (unless that was just a typo)I like silver but I think with that amount I would be more diversified But pardon me again , maybe you have the same amount in other stocks Thats none of my business I did lighten up a bit on shares about 3 but my concern is future projections I hope Im wrong I will be talking to Brad again on Monday He the vp for client services
**I will be talking to Brad again on Monday He the vp for client services**
Whopp-de-doo...so more misinformation can be spewed? ....shhh legal...cool it some...
It's nice to be recognized...but in what form?
btw...been here a long time and sittin' with 49,500 shs. Should I get an advisor also ?
You could sell some covered calls and collect the option premium to help offset any decline in the stock, and the worst that could happen is you'll have your stock called away at a higher price if it keeps going up.
It's a gamble. It's not necessary, because SLW will be much higher by the end of the year, regardless of Friday's action. Last year is now history, and it's significance will fade.
Miners with good numbers have been rewarded this quarter. On the other hand, silver could take a breather before ramping up again for May's option extravaganza.
The immediate future is always a gamble, but the path is clear. Follow The Silver Brick Road, and only gamble what you can afford to lose.