Sat, Sep 3, 2011 - 2:38pm
First off, just want to say thanks for all the valuable information on this site. I'm learning quite a lot though I do have some specific questions on how to fully benefit from this bull market.
Some background, I'm just out of college and I do freelance work, photo, video, advertising etc. I don't make a ton of money but I have enough spare cash to invest (or save) and I want to be able to maximize my profit making potential. I've been buying physical for almost a year now and will continue to accumulate steadily. However, I've been trading options a bit and I see the potential to turn a small amount of fiat into a larger amount of physical. So far my strategy has been to buy contracts pretty far into the future, usually at least four months or so. I have some Oct 44 and Jan 50 SLV calls right now, bought them several months ago.
My question is, what is the best way to play the options game? Are there better ETF's to play? When is the best time to buy or sell? Do I wait until close to expiration or should I sell once I make a decent profit? Should I buy contracts near the money, in the money, or ways out of the money?
I have plenty of other questions about mining stocks, IRA's, etc. But I'll hold off for now. Again, thanks for all the great info on here, hopefully this young bloke will be able to share valuable information someday soon, for now, I could use a good mentor. ;-)
Edited by: Yossarian on Nov 8, 2014 - 5:08am