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McEwen Mining Inc. Message Board

mikepo714 6 posts  |  Last Activity: Jun 20, 2014 9:16 AM Member since: Nov 8, 2000
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  • Reply to

    buying here at 8

    by mikepo714 May 8, 2014 2:55 PM
    mikepo714 mikepo714 Jun 20, 2014 9:16 AM Flag

    a month and a half later, and here's that opportunity to take a nice profit. bought WAY too early and it was still good.
    there are still a lot of shorts out there, meaning more buying pressure. no idea who would sell at this point, the stock is still cheap and silver is ready to explode.

  • mikepo714 mikepo714 May 19, 2014 4:53 PM Flag

    yeah ok the company is only worth $450 million when their revenue next year will be over $800 million... when's the last time a media company sold for 1/2 revenue and 5 times earnings...

  • Reply to

    buying here at 8

    by mikepo714 May 8, 2014 2:55 PM
    mikepo714 mikepo714 May 8, 2014 3:59 PM Flag

    well put. i should've stated my case better that cde trades like a call option, which is why they can keep losing money and the stock still won't go to 0 as quickly as some think. because there is always that hope or potential if silver/gold prices go nuts to the upside. and yes the calls will adjust, in a perfect scenario the stock would be 8.99 on expiration date. any more than 9 and i take the quick 18% profit and sell some $9 puts. down around 6 and i'm stuck going further out and/or dropping down to selling 8s.

  • Reply to

    buying here at 8

    by mikepo714 May 8, 2014 2:55 PM
    mikepo714 mikepo714 May 8, 2014 3:28 PM Flag

    why would you ask ME what YOUR agenda is? hopefully you can figure out your own agenda. my guess is that it involves driving the stock down further so your short position is more profitable. if that's not the agenda then it probably has something to do with a lot of time on your hands lol.

  • Reply to

    buying here at 8

    by mikepo714 May 8, 2014 2:55 PM
    mikepo714 mikepo714 May 8, 2014 3:15 PM Flag

    you have a nice way of twisting words around to fit your agenda coal. ever considered running for public office?

    nothing wrong with hedging a position, long or short. buying the stock at 8, and selling $9 calls for september pays .50/share for 4 months. almost 20%/year for something that is over 10% out of the money. my point is that 20%/year for 5 years would get someone's cost basis down to 0, not sure how or why someone would be happy about a stock they were net long on going to 0...

  • mikepo714 by mikepo714 May 8, 2014 2:55 PM Flag

    i've been long and short on cde in the past, this seems like a decent enough entry point. price of cde is essentially a call option on silver prices, i think buyers at 8 will have a chance to show a profit at some point. 5 years from now the price of cde might be 0 but you can always sell enough covered calls in between to show a profit even if the stock price is steady or drifting slightly lower...

MUX
2.92+0.06(+2.10%)Jul 28 4:04 PMEDT

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