Given the speed of silver's fall, I decided now was a good time to get out. The puts were worth far more than I thought I was going to be able to recover out of them. I still think silver has some room to fall further, but the time value of my options is dropping, so I thought this was the best time to exit and re-evaluate. As my previous post mentioned, my reduced dollar-cost average was $0.175.
Brother, remember our conversation about doubling down? Well na-na-na-boo-boo, stick your head in doo-doo.
Sold SLV Oct. '11 @$23 puts at $.043, a gain of about 145%. I'm up for the year by a good amount now...I hope I don't lose it all, lol.
Brother, remember our conversation about doubling down? Well na-na-na-boo-boo, stick your head in doo-doo.
Sold SLV Oct. '11 @$23 puts at $.043, a gain of about 145%. I'm up for the year by a good amount now...I hope I don't lose it all, lol.
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