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An unusual occurrence in the silver market, is it bull or bear?
Posted on 8/31/22 at 4:47 pm
Posted on 8/31/22 at 4:47 pm
My take is it abnormal, especially that close to closing. 10 minutes.
Posted on 8/31/22 at 5:40 pm to nuwaydawg
I wasn’t thinking about options but I did notice today that SLV is at a two year low and it got me thinking. I was about to post a thread here about precious metals. So might as well since you’re discussing it.
The dollar is really strong now. Interest rates are rising, so bonds will go down. Stock market is moving sideways as earnings drop. Inflation is still looming. Where to invest?
What else is beaten down bad? Silver and gold. But we all know that the dollar will eventually drop when the government needs to stimulate the economy by printing money again (post QT).
Seems like SLV and GLD are fairly low-risk places to park your strong dollars with decent upside potential.
Guessing that options activity reflects that.
The dollar is really strong now. Interest rates are rising, so bonds will go down. Stock market is moving sideways as earnings drop. Inflation is still looming. Where to invest?
What else is beaten down bad? Silver and gold. But we all know that the dollar will eventually drop when the government needs to stimulate the economy by printing money again (post QT).
Seems like SLV and GLD are fairly low-risk places to park your strong dollars with decent upside potential.
Guessing that options activity reflects that.
Posted on 8/31/22 at 6:45 pm to TDFreak
My old man has been harping on SLV for awhile now, Covid gave him time to surf the web and holy shite did he go over board on the tinfoil shite. Honestly he is just way behind on what has been going on and the shock I think has him grasping at everything.
On another note I tried telling him when he retired in Jan that the a-hole handling his funds with JPMC had him in way to risky shite and was fricking him by constantly selling and buying JPMC funds. He lost 20% or so.
I am drunk and am about to finish off some perfectly smoked chicken, happy hunting frickers!
Oh yea he bought a bunch of silver last week so hopefully it goes to the moon.
On another note I tried telling him when he retired in Jan that the a-hole handling his funds with JPMC had him in way to risky shite and was fricking him by constantly selling and buying JPMC funds. He lost 20% or so.
I am drunk and am about to finish off some perfectly smoked chicken, happy hunting frickers!
Oh yea he bought a bunch of silver last week so hopefully it goes to the moon.
Posted on 8/31/22 at 7:10 pm to nuwaydawg
I mean, if I am reading correctly that is a HUGE bet with PUTS at 30 and 25?
That's confusing, or an error?
Or I have no idea what I'm looking at ...
That's confusing, or an error?
Or I have no idea what I'm looking at ...
Posted on 8/31/22 at 8:50 pm to TDFreak
quote:
Seems like SLV and GLD are fairly low-risk places to park your strong dollars with decent upside potential.
Normally gold and silver are solid hedges, this time though... yeesh. Maybe employment needs to dry up in order to trigger this?
I think the only smart play right now is energy and maybe discount places like Dollar General (especially as the economy begins shedding jobs).
If Russia and Ukraine reach some sort of accord and the EU mollifies Russia enough for them to crank the gas back up, that could cause prices to stabilize (but not drop, at least not anytime soon). Aside from that and/or an extremely mild winter in the US and Europe, I don't see anything on the horizon to lessen energy prices coming until the end of winter.
Posted on 8/31/22 at 9:08 pm to nuwaydawg
You can assume that is a bull put spread.
Someone bought 19000 SLV Jan 2023 puts at the 30.00 strike. Then sold 19000 SLV Jan 2023 puts at the 35.00 strike.
I will have to look at the bid/ask, but they probably paid less then 0.05 per contract.
It is a bullish trade. It will be ITM at expiry if SLV is just north of $30 and pay in full at $35.
It is a almost a ten million dollar trade if it hits.
Someone bought 19000 SLV Jan 2023 puts at the 30.00 strike. Then sold 19000 SLV Jan 2023 puts at the 35.00 strike.
I will have to look at the bid/ask, but they probably paid less then 0.05 per contract.
It is a bullish trade. It will be ITM at expiry if SLV is just north of $30 and pay in full at $35.
It is a almost a ten million dollar trade if it hits.
This post was edited on 8/31/22 at 9:30 pm
Posted on 9/1/22 at 2:40 am to nuwaydawg
With some discretionary funds on hand, I’ve since mid May bought 400 ounces of physical silver at an average of just less than $21 an ounce. If spot price hits $30, I’ll make a tidy profit of $3600 within 6 months. Even if it just goes to the May spot price of $22, I might just cash in and still pocket $400. All in fun.
Spot is now into the upper $17s and still sliding. May add another 100 ounces if it hits mid $17s. Then I’ll sit on 500 ounces feeling like it was at least a bargain.
Either I’m gonna enjoy a little kick by early 2023 or my 7-year-old grandson will have a nice nest egg come his graduation time.
Spot is now into the upper $17s and still sliding. May add another 100 ounces if it hits mid $17s. Then I’ll sit on 500 ounces feeling like it was at least a bargain.
Either I’m gonna enjoy a little kick by early 2023 or my 7-year-old grandson will have a nice nest egg come his graduation time.
Posted on 9/1/22 at 10:29 pm to frogtown
Sweet. Thanks for explaining
Posted on 9/2/22 at 2:05 pm to TDFreak
Just picked up some SLV
Posted on 9/2/22 at 2:38 pm to TDFreak
As did I.
Posted on 9/12/22 at 10:05 am to GREENHEAD22
Big move this morning
Posted on 9/12/22 at 8:17 pm to Pendulum
Up 9.5% so far. Hope it keeps up.
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