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Showing posts with label Silver. Show all posts
Showing posts with label Silver. Show all posts

$300 win, flat silver gold pair trade

Trade entry was posted @ https://trading-fut-opt.blogspot.com/2019/06/silver-gold-pair-trade.html

Trading silver-gold spread in details: "anatomy of silver gold pair trade".
   
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Exec Time Spread Side Qty Pos Effect Symbol Exp Type Price Order Type Spread
6/11/2019 2:04 FUTURE SELL -1 TO CLOSE /SIN19 19-Jul FUTURE 14.7 LMT 137.2
6/11/2019 2:04 FUTURE SELL -1 TO CLOSE /SIN19 19-Jul FUTURE 14.7 LMT
6/11/2019 2:04 FUTURE BUY 1 TO CLOSE /GCQ19 19-Aug FUTURE 1332.8 MKT

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Silver Gold Pair Trade

Trading silver-gold spread in details: "anatomy of silver gold pair trade".
   
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Exec Time Qty Pos Effect Symbol Exp Type Price Net Price Order Type Spread
6/10/2019 12:59 1 TO OPEN /SIN19 19-Jul FUTURE 14.65 14.65 LMT 133.9
6/10/2019 12:59 1 TO OPEN /SIN19 19-Jul FUTURE 14.65 14.65 LMT
6/10/2019 12:59 -1 TO OPEN /GCQ19 19-Aug FUTURE 1331.1 1331.1 MKT
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$300, flat silver-gold spread

I decided to take $300 & run. From the very begining, it was a difficult trade.
Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
5/23/2019 11:31 SINGLE BUY 1 TO CLOSE /GCM19 1/100 JUN 19 /OGM19 1270 CALL 15.7 15.7 LMT
5/23/2019 11:30 FUTURE SELL -1 TO CLOSE /SIN19 19-Jul FUTURE 14.61 14.61 LMT
5/23/2019 11:30 FUTURE SELL -1 TO CLOSE /SIN19 19-Jul FUTURE 14.61 14.61 LMT
5/17/2019 14:40 SINGLE SELL -1 TO OPEN /GCM19 1/100 JUN 19 /OGM19 1270 CALL 9.9 9.9 LMT
5/17/2019 14:38 FUTURE BUY 1 TO CLOSE /GCM19 19-Jun FUTURE 1276 1276 LMT
5/16/2019 13:31 FUTURE SELL -2 TO CLOSE /GCM19 19-Jun FUTURE 1286.2 1286.2 LMT
5/16/2019 11:15 FUTURE BUY 1 TO OPEN /GCM19 19-Jun FUTURE 1287.1 1287.1 MKT
5/16/2019 11:15 FUTURE BUY 2 TO OPEN /SIN19 19-Jul FUTURE 14.61 14.61 LMT



Trading silver-gold spread in details: "anatomy of silver gold pair trade".
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Trade update: Silver-Gold spread

 /GC  leg is $1000 winner. I have changed short /GC into naked /GC call to add theta decay. 

 The trade entry was posted here.
Trading silver-gold spread was described in details in "anatomy of silver gold pair trade".

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Order Type
5/17/2019 13:29 SINGLE SELL -1 TO OPEN /GCM19 1/100 JUN 19 /OGM19 1270 CALL 9.9 LMT
5/17/2019 13:19 FUTURE BUY 1 TO CLOSE /GCM19 19-Jun FUTURE 1275 LMT


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Silver - Gold spread

fixed

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type Spread
5/16/2019 13:31 FUTURE SELL -2 TO CLOSE /GCM19 19-Jun FUTURE 1286.2 1286.2 LMT 17480
5/16/2019 11:15 FUTURE BUY 1 TO OPEN /GCM19 19-Jun FUTURE 1287.1 1287.1 MKT
5/16/2019 11:15 FUTURE BUY 2 TO OPEN /SIN19 19-Jul FUTURE 14.61 14.61 LMT


Gold/Silver ratio is 88.   I am in 2/SI -/GC spread which in USD reads 10,000*/SI - 100*/GC.

Trading this pair was described in details in "anatomy of silver gold pair trade".

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type Spread
5/16/2019 11:15 FUTURE BUY 1 TO OPEN /GCM19 19-Jun FUTURE 1287.1 1287.1 MKT 17390
5/16/2019 11:15 FUTURE BUY 2 TO OPEN /SIN19 19-Jul FUTURE 14.61 14.61 LMT
5/16/2019 11:00 FUTURE BUY 1 TO OPEN /ESM19 19-Jun FUTURE 2887.75 2887.75 MKT
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a minuscule position in SLV puts

bought a minuscule position in SLV puts.  

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
10/18/2018 10:31 SINGLE BUY 3 TO OPEN SLV 18-Jan-19 12 PUT 0.05 0.05 LMT
10/18/2018 10:25 SINGLE BUY 1 TO OPEN SLV 17-Jan-20 10 PUT 0.06 0.06 LMT
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anatomy of silver gold pair trade

Gold is a monetary metal, i. e. gold is money. Gold can be used as a safe storage of value when fiat currencies are being devalued day by day. Also, rising gold price usually means that faith in banking and governmental institutions is falling and investors are looking for safe haven. Gold has few industrial uses.
Silver is used both as a monetary and industrial asset. Consequently, there is the strong silver-gold correlation.  However, because silver also has many industrial uses it is affected by the business cycle. 
A trader can try to profit form the interplay of monetary and industrial factors. From historical perspective Silver/Gold ratio is rather high,  i.e ~ 80 : 





























One /SI contract is a digital equivalent of 5,000 oz of silver. At the moment it can be hedged with ~ 62 oz of gold. 

 One /GC contract is a digital equivalent of 100 oz of gold.  60 delta /GC call against  /SI contract gives a fully hedged position.

 Naturally, a contrarian wants to short gold and long silver here but let us think some fundamentals first. 

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#silver : utilizing SKEW

Theoretically, a naked Put with a certain delta can be replaced by the same delta covered Call. Unlike SP500 selling Calls is more profitable in silver. Sometime Premium in Calls is 2-3x of that in Puts. Yesterday I converted seven contracts to utilize this difference:


Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
8/1/2018 13:04 SINGLE BUY 7 TO OPEN SLV 17-Jan-20 10 PUT 0.02 0.02 LMT
8/1/2018 13:02 STOCK BUY 700 TO OPEN SLV ETF 14.51 14.51 LMT
8/1/2018 13:01 SINGLE SELL -7 TO OPEN SLV 17-Jan-20 16 CALL 1.03 1.03 LMT
8/1/2018 12:59 SINGLE BUY 7 TO CLOSE SLV 18-Jan-19 16 PUT 1.61 1.61 LMT

Breakeven for this tranch is @13.90 now; max return is 100% on risk.
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#Silver 80% on Risk , Commodity Investing for Interest Income

Commodity prices remain under pressure in 2018. That is a good opportunity to create a small-scale commodity portfolio with interest payment similar to that in real estate investing. Uranium and Silver were selected for my portfolio. These minerals at at lows of their mining cycles.  Today I bought 500 shares of SLV, sold calls and bought protective puts. Maximum return on the risk is about 80%.

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
7/19/2018 10:57 SINGLE BUY 5 TO OPEN SLV 17-Jan-20 10 PUT 0.04 0.04 LMT
7/19/2018 10:50 STOCK BUY 500 TO OPEN SLV ETF 14.3783 14.3783 LMT
7/19/2018 10:49 SINGLE SELL -2 TO OPEN SLV 17-Jan-20 16 CALL 0.98 0.98 LMT
7/19/2018 10:49 SINGLE SELL -1 TO OPEN SLV 17-Jan-20 16 CALL 0.98 0.98 LMT
7/19/2018 10:49 SINGLE SELL -1 TO OPEN SLV 17-Jan-20 16 CALL 0.98 0.98 LMT
7/19/2018 10:49 SINGLE SELL -1 TO OPEN SLV 17-Jan-20 16 CALL 0.98 0.98 LMT


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#silver $SLV : bought Puts

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
7/16/2018 11:48 SINGLE BUY 16 TO OPEN SLV 17-Jan-20 10 PUT 0.02 0.02 LMT
7/16/2018 11:39 SINGLE BUY 6 TO OPEN SLV 29-Mar-19 12 PUT 0.06 0.06 LMT
7/16/2018 11:37 SINGLE BUY 4 TO OPEN SLV 31-Dec-18 12 PUT 0.03 0.03 LMT
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#silver $SLV : long-term income #trade

I continue selling calls against SLV which makes the trade work like a rental income.

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
7/9/2018 11:23 SINGLE BUY 6 TO OPEN SLV 17-Jan-20 9 PUT 0.01 0.01 LMT
7/9/2018 11:13 SINGLE SELL -6 TO OPEN SLV 17-Jan-20 17 CALL 1.09 1.09 LMT
7/9/2018 11:11 STOCK BUY 600 TO OPEN SLV ETF 15.1746 15.1746 LMT

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#silver $SLV : Income #Trade

Let us gobble more silver.  Recently they sell it cheap.  Selling calls against the SLV shares makes the trade to work similar to rental income.

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
7/3/2018 11:22 SINGLE BUY 9 TO OPEN SLV 28-Jun-19 10 PUT 0.01 0.01 LMT
7/3/2018 11:15 STOCK BUY 900 TO OPEN SLV ETF 15.0646 15.0646 LMT
7/3/2018 11:12 SINGLE SELL -9 TO OPEN SLV 28-Jun-19 16.5 CALL 0.76 0.76 LMT
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#silver income #trade : take $100 profit and roll

Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
6/26/2018 13:49 SINGLE BUY 7 TO OPEN SLV 17-Jan-20 10 PUT 0.03 0.03 LMT
6/26/2018 13:45 SINGLE SELL -7 TO OPEN SLV 17-Jan-20 16 PUT 1.51 1.51 LMT
6/26/2018 13:43 SINGLE BUY 7 TO CLOSE SLV 28-Sep-18 16 PUT 0.91 0.91 LMT
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#silver $SLV : take $250 profit & new entries

I continue rolling credit put spreads in silver ETF SLV. This is an income trade where interest on the invested capital is collected instead of buying a dream of the unlimited upside. The closed positions yielded 10% in 240days.
In the wake of the coming liquidity crisis, the new entries were moved far-out in time to collect more cash aka premium.


Exec Time Spread Side Qty Pos Effect Symbol Exp Strike Type Price Net Price Order Type
New entries
6/4/2018 10:10 SINGLE BUY 6 TO OPEN SLV 17-Jan-20 10 PUT 0.04 0.04 LMT
6/4/2018 10:10 SINGLE BUY 1 TO OPEN SLV 17-Jan-20 10 PUT 0.04 0.04 LMT
6/4/2018 10:04 SINGLE SELL -7 TO OPEN SLV 17-Jan-20 16 PUT 1.49 1.49 LMT
Take profit
6/4/2018 10:00 SINGLE BUY 7 TO CLOSE SLV 20-Jul-18 16 PUT 0.62 0.62 LMT
Original entries were posted back in Oct,17
10/31/2017 10:45 SINGLE SELL -1 TO OPEN SLV 20-Jul-18 16 PUT 1.09 1.09 LMT
10/31/2017 10:45 SINGLE BUY 1 TO OPEN SLV 20-Jul-18 11 PUT 0.04 0.04 LMT
10/30/2017 9:46 SINGLE BUY 1 TO OPEN SLV 20-Jul-18 11 PUT 0.03 0.03 LMT
10/30/2017 9:45 SINGLE SELL -1 TO OPEN SLV 20-Jul-18 16 PUT 1.05 1.05 LMT
10/9/2017 14:38 SINGLE BUY 2 TO OPEN SLV 20-Jul-18 10 PUT 0.03 0.03 LMT
10/9/2017 14:32 SINGLE SELL -2 TO OPEN SLV 20-Jul-18 16 PUT 1.06 1.06 LMT
10/9/2017 10:00 SINGLE BUY 1 TO OPEN SLV 20-Jul-18 11 PUT 0.04 0.04 LMT
10/9/2017 9:34 SINGLE SELL -1 TO OPEN SLV 20-Jul-18 16 PUT 1.05 1.05 LMT
10/5/2017 15:15 SINGLE SELL -1 TO OPEN SLV 20-Jul-18 16 PUT 1.21 1.21 LMT
10/5/2017 14:05 SINGLE BUY 1 TO OPEN SLV 20-Jul-18 10 PUT 0.02 0.02 LMT
10/4/2017 9:35 SINGLE BUY 1 TO OPEN SLV 20-Jul-18 10 PUT 0.03 0.03 LMT
10/4/2017 9:34 SINGLE SELL -1 TO OPEN SLV 20-Jul-18 16 PUT 1.2 1.2 LMT
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