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Poor, old guy here. Any silver stocks that y'all could steer me to?

Posted on 5/11/23 at 11:12 am
Posted by 308
the backwoods of Mississippi
Member since Sep 2020
3100 posts
Posted on 5/11/23 at 11:12 am
Thanks in advance for any information.

Please, no smartass replies. I hurt easily.
This post was edited on 5/11/23 at 11:20 am
Posted by bayoubengals88
LA
Member since Sep 2007
23512 posts
Posted on 5/11/23 at 11:14 am to
This is just funny

If it were 2014 Iowa Golfer would be here quickly.
This post was edited on 5/11/23 at 11:15 am
Posted by bayoubengals88
LA
Member since Sep 2007
23512 posts
Posted on 5/13/23 at 7:54 pm to
Wow, it really isn’t 2014 anymore…

This board used to love precious metals. There were topics all the time.

Why do you ask about silver stocks?
Ever traded SLV?
Posted by jerryc436
Franklin
Member since Jan 2014
589 posts
Posted on 5/13/23 at 9:33 pm to
I have been investing in First Majestic (AG) for a while. I like to set a cash covered PUT at the price I would like to buy. For example I would do a Put at $6 and if it dips below $6 I would own 100 shares for the price minus the premium. I then would sell a CC at a higher price and collect the premium. Do your own research because this is not for everyone. It is the way I like to play it and it has been profitable most of the time but I also take losses sometimes.
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 5/14/23 at 3:50 pm to
Commonly known as the “wheel strategy”. Do you track implied volatility before executing the strategy?
Posted by jerryc436
Franklin
Member since Jan 2014
589 posts
Posted on 5/14/23 at 4:24 pm to
No I am not sure how to do this. I look at the premium it will pay and try to set the price close to where I would feel comfortable owning the stock if I want to own the shares. If I am just looking to add premium I adjust the price at a price I hope does not get assigned. I need to study up on implied volatility but not sure where to start.
Posted by bayoubengals88
LA
Member since Sep 2007
23512 posts
Posted on 5/14/23 at 4:50 pm to
IV percentage should be available from your brokerage. If IV is up you’ll get more premium out of your calls and puts.

Here’s Kirk DuPlessis on Spotify episode on Implied Volatility
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 5/15/23 at 6:28 pm to
Which brokerage platform do you use?
Posted by jerryc436
Franklin
Member since Jan 2014
589 posts
Posted on 5/15/23 at 6:50 pm to
Vanguard but thinking of switching to Schwab. The only reason I have not so far is because I have quite a few Vanguard ETFs. It is an IRA that I transferred my 401K to. I have a small Roth with Schwab but have limited funds there.
This post was edited on 5/15/23 at 6:54 pm
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 5/15/23 at 8:34 pm to
Sorry, I’m not familiar with how to find implied vol. on the Vanguard site.

From looking at Think or Swim, I see that the implied vol. on AG is currently at 59.32% (high enough for there to possibly be some decent option premium), but the IV percentile is only 10% - meaning that 90% of the time in the look-back period it’s higher than it currently is.

Sorry I couldn’t be more help.
Posted by jerryc436
Franklin
Member since Jan 2014
589 posts
Posted on 5/15/23 at 8:46 pm to
Thanks for looking. Wondering if you have any info on AUPH, RIG, DVN and AMD. I have been doing Puts on these with good success.
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 5/15/23 at 9:20 pm to
I think bayoubengals88 follows AUPH.

I happen to have AMD on my screen now. The IV is currently at 46.74% and the IV percentile is 5% (way down because it announced earnings not long ago and that tends to crush IV).

You mentioned that you have a Schwab account. Since they bought TD Ameritrade, the Think or Swim platform should be showing up on the Schwab site and app fairly soon. Since you’re looking at options, that would be worth your time to look into. It’s got something of a learning curve, but the app is pretty straightforward on a phone or tablet. While I was vacationing in New York, I executed all of my option trades from my phone or iPad on ToS.
Posted by jerryc436
Franklin
Member since Jan 2014
589 posts
Posted on 5/15/23 at 9:26 pm to
Thanks, I did well playing options on AMD before earnings but the premium really dropped this week I have moved to other securities. I have been doing well with options but need to learn more and am planning on doing some research.
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 5/15/23 at 11:02 pm to
Head over to the Options Trading Thread when you get a chance. Several people are active and different strategies are being employed, including selling for premium (pretty much all that I do now). We’re all in it to help each other.
Posted by bayoubengals88
LA
Member since Sep 2007
23512 posts
Posted on 5/16/23 at 6:44 am to
quote:

Thanks for looking. Wondering if you have any info on AUPH, RIG, DVN and AMD. I have been doing Puts on these with good success.


Checkout this free IV rank screener
This post was edited on 5/16/23 at 6:45 am
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 5/17/23 at 6:24 pm to
Excellent site and link. Thanks.
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