I picked up some options on silver miners when they were smacked yesterday!
I'm a sucker for buying stuff when people think it's overvalued.
This is a chart of First Majestic Silver corp, you can see how it had a little downtrend going on every since the wallstreet bets fiasco with silver. When I noticed it fell below $14.50 per share I felt I needed to jump in. I happened to snag it right at the bottom of that move down.
The great part is that today it rebounded and went up over a doller per share since that bottom I picked.
IHUB
For this trade I bought long term options that go out over a year , I believe this stock can go parabolic within that time frame so I did it with a twenty dollar strike-price.
My next silver stock I grabbed was Silver One Resources Inc. (SLVRF)
Silver One Resources Inc., through its subsidiary, acquires, explores for, and develops silver properties in Mexico, Canada, and the United States.
source
Now this one is a very risky little miner that I have had in my watch list for over a year. Its not an options play and isn't even margenable. The thing that gets me exited about this one is the people that are backing it.
Eric Sprott Increases Ownership in Silver One
Greg Crowe, President and CEO, commented: "This is the third time Eric Sprott has taken a position in the company. We are very appreciative of his ongoing support.
source
This is a huge indorsment and proves this company is worthy of one of the largest silver speculators known to man. I know you have herd of PSLV, the silver trust fund that has the physicle, not like the comex SLV rip off crime scene. Well it's managed by Mr. Sprott himself!
So those are the moves I made and I will be watching them like a hawk. Please don't invest because of anything I showed you, these are mega risky stocks and could go down a lot!
Thank you for reading my blog and have a great day!
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You got in at a perfect time. Good luck
Thanks, I think this time I did good!
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Options always scare me but i think you got in at a good time.
That was a good dip buy. I like AG and PAAS for my silver mining corporations. So I never really touched SLVRF and I hope your year long option works out. You are smart to give it an entire year to play out and we should be in a commodity bull run so it should go up quite a bit. Let's just hope those market makers don't chop up the premium like the SPY calls I got yesterday (I averaged down when they cracked it down at the end of the day) and got out with a decent chunk of profit today.
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I figured if I have to wait at least it will be a long-term gain. Although if it were to moon I would have to sell some before a pullback. I'm sick of giving back my gains.
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Yea I got chopped up yesterday since they were just chopping around and burning premium. I just hope they don't spend too much time chopping around otherwise your profits might take a big hit.
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I was looking at PAAS, they pay out divies. I will put it on my watch list for future reference.
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I hope the smack down on silver is over, but fear it is not.
I have not looked into options before but should consider them
I like to get the ones that are far from expiring, they are a bit illiquid until they get closer to the expiration date but still trade on heavy volume day pretty good.
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Good Luck!!!
Thanks, I always like to have some luck to push me over the top!
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You picked good ones @tbnfl4sun!
I’m
Holding some AG
And I often trade AGQ (don’t hold long normally)
But frankly I’m mostly just adding physical as I think what will happen may be spot price stays controlled longer then we think, but physical premiums will keep going higher. Most of the trading I’m doing is in crypto these days
Yea, them premiums sure are stubbornly high. Are you still stacking gold too? I remember you getting a bunch in the past.
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FSM (Fortuna Silver Mines) has been doing pretty well for me. I bought in when it was around $1 and it has been bouncing around the $5 to $7 range the past couple of months.
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Wow, that's awesome! I will put them on my watch list and do some DD on them.
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I sold a lot of mine when it hit $7 but I am still holding some.
I don't really dabble in stocks, but congratulations on a good pick! I hope that it continues to go higher.
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Thanks, Sarge, you been playing poker lately?
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@tbnfl4sun i must say that you made a good move
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It had some luck too, I tried to do this trade before but it never came down far enough for my buy price.
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