Breakout of Silver
Cập nhật
I've been long since before the previous low, but it's finally coming to fruition. I still have a lot to learn about doing nothing and just observing, but hey, at least the upward thesis was correct :).
Target & risk management:
First target is around 26-27, looking for a continuous run up until 35.
Stop loss now is 23.50, would move this up to this downward resistance line crossed today 15/12
Position:
Heavy GDX call options expiring march 2021 (precious metals will run up together, but I expect Silver to outperform)
PAAS long exp. april 2021 - looks like one of the strongest runners
LONG XAGUSD - margin position via Interactive Brokers
Why wait: At this point my GDX call position is -25%, I expect this is from the Implied Volatility. Price usually tightens before running up.
Whatever your view, be open to change your mind! (or loose money)
Target & risk management:
First target is around 26-27, looking for a continuous run up until 35.
Stop loss now is 23.50, would move this up to this downward resistance line crossed today 15/12
Position:
Heavy GDX call options expiring march 2021 (precious metals will run up together, but I expect Silver to outperform)
PAAS long exp. april 2021 - looks like one of the strongest runners
LONG XAGUSD - margin position via Interactive Brokers
Why wait: At this point my GDX call position is -25%, I expect this is from the Implied Volatility. Price usually tightens before running up.
Whatever your view, be open to change your mind! (or loose money)
Bình luận
Option position is now +35%. Fallback to 24usd is possible but unlikely. I expect 25 usd to hold and keep all positions open.
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