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@dirkdiggler $G - earnings out Weds. Tempted to go long Puts as they've missed 3 out of the last 4 qtrs. Probably won't....just sayin..... #options
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@dirkdiggler $DGC up 3.4% - Had to close my Call position for a so-so profit (don't trust this market....) #options
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@dirkdiggler Opened a long Put position here at $DGC session highs ($27.07) - negative divergence on the intra-day chart oscillators. NOT going to give this much room.....will close position if the market presses higher from here. #options
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@dirkdiggler $DGC Puts - entry couldn't have been better. Already profitable at the close. If the market opens down tomorrow, I'll close it out. DGC P 18NOV16 $27.00's #options
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@dirkdiggler $DGC weak at the open, now down 4.0%. #options
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@Newton Hello @Powderhound! How are things? Love the $pvg comments there. Did you know there are #options on pretium traded on montreal exchange? #loadup lol.
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@dirkdiggler I do believe we have $ABX, $G and $AEM earnings on deck (any minute) #options
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@dirkdiggler I exited my $DGC Puts and am now long DGC C 18NOV16 $26's @hihosilver #options
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@dirkdiggler Oh what a difference a day makes. $DGC plus 4% #options
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@Newton Looking at $lun #options here. A bit of volume in some calls today, but puts still have largest open interest... particularly in a November 2016 5 strike. Pretty cheap too https://www.m-x.ca/nego_cotes_in_en.php?symbol=LUN&instrument=LUN+++161118P5.00#cote Maybe good contrarian play there.
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@Newton http://cdn.ceo.ca/1c1ff5r-IMG_20161031_144815.png+ little screenshot of $lun #options. Some light volume in January 2016 5 and 6 strikes.
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@Newton Yeah, I like a bit of #options action @JamesKwantes especially with bigger companies like $lun. Long-term maturities are intriguing to me, particularly when they are cheap. Sucks to pay premium, but potential for big returns interests me. Something about getting junior-like returns off a senior's larger capital base... discussed it with #JonathanJones at #haywood as a way of "following the elephants" in their more developed companies but still (trying) to get bigger returns. Tl;dr yes, but selectively.
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@Newton I think #options on $lun are interesting given potential for game-changer news around Tenke ...
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@Newton @newstracker the long-term refers to expiry date of #options. Nothing about #bonds. For example, https://www.m-x.ca/nego_cotes_in_en.php?symbol=LUN&instrument=LUN+++170421C6.00#cote those expiry in April 2016 with 6 strike. Currently out of the money. Getting filled at 0.50 makes for a bit of expensive option (implied volatility is above 30-day historical) but big spread is interesting. Could get filled at 0.25 or 0.30 maybe. Costs $30 for each contract, call on 100 shares. Pretty cheap premium, really...
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@Newton Ha! I did not know #options were used in the Dutch tulip #bubble. Thanks @jameskwantes. Totally believe it though. The scene about "side bets" in #bigShort film may help give you a sense for why it can get out of hand, if you don't already know...
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@Newton Would be happy to talk #options with you when you're able @jamesKwantes there are variety of ways to use them. @dirkdiggler has helpful comments on his personal style. Short-term and smart. There may be some good ways to use them in newsletter. For example, put options on $nsu around the $rmc takeover. Help people hold new shares post-acquisition...
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@Newton fwiw most juniors are just like #options anyways. As in, likely to expire worthless. Bit of stretch, but I will tag #jokes here.
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@Newton I got more interested in #options after learning that there are ones on $pvg https://www.m-x.ca/nego_cotes_en.php?symbol=pvg*
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@dirkdiggler $DGC $26.00 Calls go from way otm to nicely itm in a matter of a session and a bit. Here's the quandary: even though $gold is supportive and recent price action in the stock is constructive, we have 3rd qtr earnings out after the close today. Do we hold, do we self half, do we take profits and not look back before the close? You see these........these are the questions (Peter Griffin voice) #options
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@dirkdiggler @Newton: there is a nice strategy for playing options called the 'free trade' ~ it's very simple; requires the right timing, but it's something you might want to try. #options
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@Newton Random question @dirkdiggler and others... $cco #options? https://www.m-x.ca/nego_cotes_en.php?symbol=CCO* seems to have a lot of cheap calls out there. Also has fair amount of OI on many strikes/expiries -- more than $lun options for example.
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@Newton Example of the 23 strikes for January 2018... https://www.m-x.ca/nego_cotes_in_en.php?symbol=CCO&instrument=CCO+++180119C23.00#cote $cco anyone ever put out bids for nasty #options like this with #nobid?
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@Newton Random thought here for you -- something about #torque. Leverage and optionality (even convexity) are useful phrases for talking about resource projects, but you generally have to be "out of the money" to get that. #options. Being in the money can reduce your convexity, but it also gives you more immediate upside. Comes to mind when looking at $rab as #copper producer that is currently in operation but has plans to scale-up. Could prove to be good timing for future copper bull market... tl;dr look to current copper produce for torque off immediate prices.
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@dirkdiggler No such thing as 'be right, sit tight', especially when you're using leverage, in this current political / economic backdrop (ie) holding a long Call position over the weekend in any of the Producer's would've been an extremely bad plan......it's all about booking what profit the market affords you, not being greedy.....and dodging bullets. $Gold $GDX $ABX $AEM #options
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@dirkdiggler Great example of a 'Death Cross', critiqued earlier by @Goldfinger ~ http://stockcharts.com/h-sc/ui?s=DGC.TO&p=D&yr=1&mn=0&dy=0&id=p45906759195 ~ we'll see if there's any follow-through-downside-destruction. The oscillators not quite in the extreme oversold zone. Another questionable chart pattern is the 'Key Reversal' or 'Shooting Star' in Candle terminology...... Larry Williams did a back-study on Key Reversal's a number of years back (mainly on commod's and the $SPX ) and discovered that they were not necessarily reliable indicators of a trend change. #options
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@Newton $lun move also substantial with #copper. Not as large as $cum, but what about #options on lun?
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@dirkdiggler 'Death Cross' update on $DGC from a post 2 days ago https://ceo.ca/options?1d6860041a86 ~ A zoom in of the price action since the actual 'Death Cross' (a signal said to yield inconsistent results) http://stockcharts.com/h-sc/ui?s=DGC.TO&p=D&yr=0&mn=2&dy=0&id=p30558544755 ~ So far, a trade using the 'Death Cross' as a trigger would be profitable. #options
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@dirkdiggler $DGC? Check my 'Death Cross' update @Newton. #options
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@Newton FWIW the $DGC #options have 35K OI on calls, 7K on puts. https://www.m-x.ca/nego_cotes_en.php?symbol=DGC* Could look at that as bullish sentiment because large buying of calls, or you could look at that as bearish with large selling of calls. Could be covered call writing or even naked, as in "collect whatever premium you can on calls as price is collapsing"...
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@Newton Yes, @dirkdiggler. The value involved in a lot of these single-stock #options markets is strikingly small... https://ceo.ca/index?de4e70b3d11a
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@thenewjew Has anyone else here thought of making an option play into volatility indexes? If the $Trump election has buoyed the indexes to record highs heading into a particularly challenging series of events (Italian referendum, Fed rate hike, etc.) it might be an interesting play. I am currently researching $VIX, $VXX, VXZ, VIXY, VIXM
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@Newton $LUN #options https://www.m-x.ca/nego_cotes_in_en.php?symbol=LUN Some big size in the December 6/7 strikes...
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@thenewjew In case anyone (shout out to @vaughan) is interested here are the 2 plays I ended up deciding on based on my research of volatility indexes, including (on the TSE:) $HVU, $HUV, $VIXC; (on the NYSE:) $VIX, $VXX, $XIXY, $TVIX :
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@thenewjew VIXC way down (14%) great time to load up calls @vaughn
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@thenewjew Today's play: VIXY 061617 40 C
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@Lee @thenewjew Regarding todays play... VIXY 061617 40C. Hmmmm. 197 days to expiration... Deep OTM... 0 Open Interest and 2 Volume... Bid .65 and Ask 1.75 Wide,Wide,Bid to Ask. How do you justify such a trade?
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@Newton Another #update on that $ASR article: @Newton/an-obvious-trade-idea-put-options-on-alacer-gold http://cdn.ceo.ca/1c4bl3o-2016-12-05-ASRoptions.jpg+ the shares moved down and some of the puts have done OK but I don't see any 3x moves. #options
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@Newton Speaks to the danger of playing #options in long term, h/t @dirkdiggler
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@dirkdiggler might be an 'option' @BS - if you can find a series with enough OI and a reasonable bid/ask spread. Volume is so limited though. looking at the Apr $3.00 Calls - the bid ask is a little less ridiculous than most strikes/months. $CNL #options
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@dirkdiggler I don't believe in options as long term plays @Newton. If they're otm and 6 to 12 months out, by the time they go itm, there's a good chance your time value will have eroded sufficiently, and you'll still end up losing money. There needs to be a short term catalyst imo. Of course there are exceptions: $TCK would have been a brilliant long term Call play. #options
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@Newton Roger that, @dirkdiggler. I recall that from prior discussions and was intrigued to see it borne out in case of $ASR recent price declines. I wrote an article back in July when #Turkey political problems happened suggesting 'obvious trade idea' of put options on the company and just checked back in recently. Nasty price decline since, though partly due to operational problems at mine.
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@Newton I don't know of good ways to play short side of market in junior space, but think that put #options can be good for that on some bigger names.
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@Newton And a different question for you here @dirkdiggler. You say "there needs to be a short term catalyst" -- any comment on what that may be? I think I've seen you refer to charts and news. Maybe strangest part of question: do you ever play for unexpected news?
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@dirkdiggler Earnings reports are often good for large price shocks @Newton: look at $DGC's recent qtr....A Put position placed at the close before the report was released would've given you fantastic multi-bagger gains over the following day(s). NFP numbers and their impact on the $gold price are good catalysts, if speculating on the large Producer's. Interest rate decisions (like the one we'll see on Thursday) MIGHT be a good way to speculate on severe price shocks, up or down. Unless you are a gifted number cruncher or have unique insights, all of the above scenarios can be little more than coin tosses. #options
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@dirkdiggler The market deplores uncertainty. Current $Gold sector participants are probably best described as 'twitchy F*uckers'. Tomorrow will likely remove much of the uncertainty; uncertainty that hangs over our collective (twitching) domes like a thunderhead. I'm positioning myself in some highly leveraged #warrants, perhaps some Calls and or Bull-Call spreads. #options But that's just $ME
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@newstracker The $100 December 2018 call option -- a contract that gives the right to buy Dec. 2018 futures at $100 per barrel -- was the most traded contract on Tuesday across the whole ICE Brent market, the latest sign of resurgent optimism in oil. https://www.bloomberg.com/news/articles/2016-12-21/oil-seen-at-100-by-end-2018-in-lottery-ticket-options-trade #oil #options #trading
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@dirkdiggler The $ABX 30DEC16 $21.00 Calls are up 1000%+ on this move. They went from no-where-near-the-money to suddenly-in-the-money with only a session and a half until expiry. Crazy action in #Options $gold
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@ylr $THO CALL THO 02/17/17 15$ could generate 900%+ gains in just a few days. http://cdn.ceo.ca/1c7stm7-Advanced_Chart_%40THO%20%20%20170217C00015000_CA.png+ #ylr #gold #options
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@ylr $CCO on the 5m chart. Back tested the 15.60 support. 10/20 sma about to golden cross Now wants to break the down trend and head back to 17$ #ylr #uranium #options http://cdn.ceo.ca/1c8cfi7-Advanced_Chart_CCO_CA.png+
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