Silver Tanks To Near $32..time To Get A Monster Box?

I picked up 4 SLV NOV 11 calls. About $1100; 10-1 or so leveraged against the price of silver. We'll see how it goes... today's 8.5% hammering seems like an overreaction.

I wouldn't get too excited. Like I said before, it will be tough finding silver near the current spot price. Those that were buying at $45-$50 aren't gonna take a loss and sell those for less.

fenton:

You're leveraged bet on silver will probably pan out well for you... Though you may have to weather a further drop on Monday. I don't mess with leveraged bets, (just buy the physical), because there are those with large bankrolls (Morgan Stanley and HSBC expecially), who have in the past moved the silver market down on purposeful & blatant manipulations.

It is widely believed, that these corrupt players, have been losing control of the marketplace. I hope that is true, (as that means that the price of silver will explode upward at some point), but one never knows - how much power, the corrupt & venal players yet retain...

I KNOW they cannot move me out of silver,(as I will buy it all the way down - no matter how much it tanks). I hope you are ready for what may be a wild ride indeed (wouldn't be surprised to see $28 silver)

When do your calls expire?

Best,

LastGold

I think I would wait to see how far low it goes, before making any moves. If it falls to 25 an oz., one is gonna be kicking themselves for buying at 32....

Greed and even numbers will throw you off however, or at least me anyway. Gold got up to 1950, I thought about listing it all, and ended up saying "Nah, lets wait till 2 grand." If had listed an sold in the 1900's, I would be sitting pretty to buy back in around 15 to 16 hundred. live you learn, just another blown opportunity. Of course if we all could see into the future, the choices would be real easy eh....

You are right Price, as if it swings back up to 35 an 36, that would be that greed factor costing one who is waiting for perhaps a fall into the mid 20's that I personally think will not happen. I said we will never see sub 30 silver again, and that is looking like one stupid statement about right now. It may not, but I think if anything the last couple of days shows me anything is possible, and just two bucks away also tells me that a dip into the sub 30's is MORE than possible....

He said that he bought the NOV calls, so I would assume that they would expire the 3rd friday of november. Fenton, is 11 the strike price or is that the year?

I don't think you will see eagles for.sale at this price. A lot if people are going to be holding and seeing this as a buying opportunity

Must be nice to have a local dealer. No such luck where I am. ebay is all I's got...lol