I bought some SLVO on Tuesday. They declared and went x-div on Wednesday for a monthly of 24.12 cents. They basically hold silver and write one month call options to produce income. If silver goes up SLVO doesn't participate much in the appreciation. If it goes down, the options help curb any losses.
Look at Yahoo Historical Prices / Dividends only. You'll see that the div varies greatly month to month. Some months in the .05 area and some in the .25 area, with others in between. I consider it a small play on (long) silver, more of an income producer from the volatility of silver itself. My position is small, part of a group of high income producers. I added GGN to that group yesterday @ 7.40. Been in that before. First time ever in SLVO.
Buy list.......AREX below 7.50............LNCO around $11.00............Kel
Cramer says WTI will test $43. Just read LNCO / LINE report. They say 2015 CAPEX ($600 mil) and distributions ($420 mil) will be covered by internally generated cash flow.
Haven't had any SFY in awhile. My last SFY trade was on Feb. 3, in @ 2.21 and out @ 2.41. Still holding COP. AREX is at the top of my list now if I can get it a little cheaper. Still watching EOX. Had 2 real nice trades there. Was afraid of getting greedy and getting burned on the third.
Here's the main reason.........the stupid mine.....costs for Q3 were...
$491,000 for water treatment plant and $439,000 for Mineral holding costs.....total $930,000
For the 9 month period those 2 costs total $2,344,000
Should have looked into this in the SEC filings sooner...my bad for that.
This mine is an absolute albatross around their neck. Hurts much more now with the tough oil / ng environment.
Slick......is usually stated on the coin as 1 troy oz or something similar. I do agree with your thoughts on 90% junk silver, the ultimate in coinage liquidity in a crisis. About the Gold Eagles though.....wouldn't they have to be broken down into smaller denominations to be "spendable?" They could also be more dangerous to carry around due to the concentrated value in one coin.
Just some thoughts..........Kel
J-man.....what would be wrong with Canadian minted silver rounds? Why does it even matter if they're legal tender in the US? Seems that in a complete societal breakdown that the silver content would trump any "stated" legal tender value.
Went to a local coin dealer today with the intention of buying several 10 oz. bars. They were asking spot + $1.99 per oz. More than I was expecting. Thought the premium would be more in the $1.00 area for a cash purchase. Decided to pass for now anyway. Asked them how much they would pay for that same 10 oz bar if I was selling today and they wouldn't give me a straight answer.
Did look at some Canadian 1 oz rounds with Antelopes on them (part of a Wildlife series they said). They wanted spot plus $3.00 for each of those. For 90% junk silver they were asking $1.40 for dimes, $3.50 for quarters and just over $7.00 for half dollars. Passed on everything. Will keep watching though.
Thanks for your comments. Bought a little SLVO @ 11.75. Might be just in time for this month's div. Looks like they could declare tomorrow before the open. Around this time (actually usually earlier) every month.
Sign of an approaching bottom? Look at the Yahoo Historical Prices and compare the daily highs / lows for the last few months. Several weeks ago the daily fluctuations were mostly more than 10 cents and sometimes 30 cents or higher. Recently that daily spread has been much smaller with anemic volume. Lookslike the sellers have dried up.
Kel............a new holder today
Wondering......is SLVO one of those ETF / ETNs that has a rapid decay rate like some of the 3 X long / short plays on gold, silver, natgas, S&P 500, etc..........?
Ran a 2 year comparison with SLV and some decay is seen, but that may be accounted for with the high yield that SLVO provides.
Thanks for your help..............Kel
More.....Industrial area is about 90% of revs., so the lagging Defense / Electronics area is only about 10% of revenues.
The "weather play" for this winter has almost run its course. But, anyone that looks at a 2 year chart of Natgas prices can see that NG can make some very big moves even once winter ends. If prices weaken in the March - April time period, that's probably the time to load up......maybe not with UGAZ (beware the decay rate) but one of the other, safer NG ETFs.
Showed up on a screen I did for stocks with positive EPS momentum...
***Estimate for fiscal 2015 is 28 cents with revs. up 4.4%. Only 1 analyst though.
***Extremely cheap based on its Price to Sales (PSR) ratio.
***pays .02 quarterly dividend.
***Balance sheet is good.
***Some apparent concerns in the Defense area that I don't fully understand.
***Average trading volume very low, about 20,000 daily. Might make it hard to build a large position unless it's done very gradually.
--------------Very interesting though. Will have to do more work on this one. Has there been any talk of them being a takeover candidate?
I was watching NG early on Friday morning. Was tempted to buy UGAZ, but hesitated, then it moved higher without me. I think anyone that got in Friday made a good move. Lots of cold air pushing down into the Midwest and Ohio River area. This might finally be the week where the inventory numbers come in favorable for the longs.
Good luck to all the longs. Maybe I'll be able to sneak in at a good price on Tuesday or Wed.