A long shot but IF silver hit $5/oz. (and you could buy at that price)..
ChrisRx
Posts: 5,619 ✭✭✭✭
I think I would put everything I have into it!
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Also looking for VF-EF Seated halves.
Sell me your old auction catalogs...
I can say that I would want to be buying a WHOLE BIG BUNCH in that range.
I also will not avoid starting to rebuild a BIG position at levels above your "target."
https://www.ebay.com/mys/active
Locally....all dealers, jewelers...etc...have pulled thier silver.
I too would load up on $5-8 silver....but may not be able to find any to buy......
I say load up at $12. You will be able to buy at that price later this month.
It's unlikely that single digits will be seen this year and with the inevitable bounce back to $20 next year, $12 looks pretty good.
<< <i>I say load up at $12. You will be able to buy at that price later this month.
It's unlikely that single digits will be seen this year and with the inevitable bounce back to $20 next year, $12 looks pretty good.
I agree....but locally Friday I could find none at 12-13....am off Tuesday and will call around Monday and see what I can find...and set up my game plan for Tuesday.
<< <i>I think I would put everything I have into it! >>
And you'd be a fool, unless you are like 25 years old with a high income. If it went from $20 to $5, it could go from $5 to $1.
roadrunner
Then why are you not selling 5 puts accross all expirations?
e.g. 12/09 5 Puts on SIZ9 (i.e. COMEX 5,000 oz. contracts) are around $170 per contract right now (July 2010's will get you nearly double - at $335). You'd only need to put up about $471 to sell each one of those puppies and the money you put up can/will earn interest too.
Heck, that's nearly a 40% return by the end of next year. Not too shabby.
Of course, it silver goes below $5 per ounce (or more accurately settles below) you'll have to give back $50 per cent below $5 per contract (i.e. max loss per contract is $25,000).
Perhaps losing is a long shot but the risk/reward scares me.
As westerners we are all very attached to toilet paper the most - can't live without it. Maybe the sand-dwelling peoples of the world like their hands, then sand, but here in the USA we need toilet paper. And not that rough sandpaper stuff they use in Europe either. We like it soft - like Charmin !
Stockpile cases of Charmin - not Silver!