Steeles Royal
Toronto Escorts

Any options traders out here?

daywalker11

Mongerer
Dec 27, 2011
507
107
43
Toronto
I’ve been looking to sell OTM calls in ETFs that I wouldn’t mine buying at a lower price if the market breaks down. Currently have my eye on GLD, SLV and USO but wouldn’t mind hearing from others who are doing the same.
 

K Douglas

Half Man Half Amazing
Jan 5, 2005
26,135
6,340
113
Room 112
I used to trade in options but got out of that as it was too much risk level for me. I don't know what to think of the markets these days we haven't seen a bear for a decade despite low economic growth, dropping productivity levels and rising public and consumer debt.
 

danmand

Well-known member
Nov 28, 2003
46,353
4,776
113
I sell covered calls. That hardly qualifies as trading.
 

daywalker11

Mongerer
Dec 27, 2011
507
107
43
Toronto
I totally agree the market is dislocated from fundamental values at the moment. I don’t employ to many complicated option strategies as I find the commissions tend to add up quickly. I have generally started writing puts on commodity ETFs at a strike that I fine tenable to purchase at. If they get ITM I will close on a part of the option position, write further OTM puts and sell some OTM covered calls. I am primarily trying to cash in selling time value and volatility. The commodities I pick; oil, gold and silver, I am confident they won’t breakdown given it seems the Fed is pursuing a weak dollar policy and these ETFs are US denominated.

Seems to be working for now, just wondering what others maybe doing to capitalize on this strange market. I find it untenable to be long equities outside my core positions.
 

danmand

Well-known member
Nov 28, 2003
46,353
4,776
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I forgot to mention that I write covered calls on Gold mining stocks.
 

daywalker11

Mongerer
Dec 27, 2011
507
107
43
Toronto
I forgot to mention that I write covered calls on Gold mining stocks.
So you are bullish on gold overall? Or do you see value in the industry at current levels in specific names?

I see gold as a hedge against inflation but I don’t like picking winners. Either way I accept that GDX would fly if we get a serious bid in gold.
 

danmand

Well-known member
Nov 28, 2003
46,353
4,776
113
So you are bullish on gold overall? Or do you see value in the industry at current levels in specific names?

I see gold as a hedge against inflation but I don’t like picking winners. Either way I accept that GDX would fly if we get a serious bid in gold.
I am, I cannot see how the debt bubble and the feverish printing of $USs and Euros will not end bad. I will not touch the stock market now, except Gold shares and retirement/health care REITs.

I have a basket of senior gold miners, and I write covered calls on my portfolio.
 

Spacealien2

Well-known member
Apr 29, 2012
1,838
177
63
Heaven
I started doing earning gambling - OTM naked calls/puts expiring in one week. Hoping for the earning report swing my way.

Got two out of two in the money so far. One of them (CALM) gave me 900% return. The other (CMC) gave nearly zero (at break even).
 
Ashley Madison
Toronto Escorts