I'm pondering going long, longer then long, on SLW. I like the enterprise value -v- market cap. This could change in a hurry, but not as fast as a true miner.
I like the royalty play on this and FNV, more so SLW.
I am concerned about ow long the Fed can keep the balls juggling, and have some reservations about pulling the trigger. I don't generally going longer then long on anything other than tangible assets. I trade paper.
I'm surprised you sold before Feb/March debt ceiling. Interested in why?
I waited until 10 minutes before close and tried to sell my 2016 spreads at $5, and the 2015 spreads at $2.5. No takers. I was hoping someone would jump before the weekend. I like taking this profit in a matter of months with very little capital used on the trades. If you annualize my yields doing this, it is really quite impressive.
BTW, SLV is now trading at a premium of about .4%.
I sold this morning about 15 minutes after the market opened, made anout $2k. If I had waited about an hour longer I would have made almost 50% more (the story of my life) than I did. But I held these shares since November and I was ready to get out.
Next time you think about getting in, why not just buy calls or puts? I just don't see large movements in precious metals until Yellen feeds us some rare steaks, consequently I don't tie up large amounts of capital in the shares.
My mistake on my trade was to place a spread. The $16 calls I bought for a net $3.76 are now worth $6. The spread is only worth about $5. Still a very decent gain for 60 days. If I bought straight calls these would be worth a gain 1.12. That's decent, 22% in 60 days.
You make very good points and I'm sure your method is very successful. My biggest issue with puts and calls is I just don't like paying the premium and then hoping I get a return on it. What you're doing is smart and I admire your process but it's just not for me.