SLV

ebitdasga

Why is SLV ripping?

RisingSerpent222

Y’all think SLV will dump below $50

PossumImposter2

Full porting SLV as soon as this shit opens

drazayn99

Chat it might finally be the time to buy GLD and SLV calls again.

Senior_Jicama_2108

!banbet SLV 54 4d

Senior_Jicama_2108

!banbet SLV 54 4d

Senior_Jicama_2108

!banbet SLV 54 4d

Far_Reputation9888

I also got sucked into the market for SLV stock seeing it go up and then as it fell I began buying only to find myself in terrible position as it continued to fall. I've learned to just sell shares with every little small increase that allows trimming the position and now I very carefully watch the Spy index and I only buy silver when the Spy is going up and silver is increasing in value when it's easy to come out ahead but I found that as the Spy drops in silver begins to decrease I continually end up in the hole so I'm making myself a firm roll to only trade on the very short-term chart take instant profits and then get out. Same with gold these are so volatile due to the influence of World War causing Energy prices to spike and affecting everything.

SirPanic12

So are we gonna forget about MU and MRVL and go back to pumping SLV and GLD, like the good old days?

Darkwolf22345

Getting absolutely fucked by SLV, dram, and SMCI without any protection and no dinner before hand

liquidtv78

was watching SPY and QQQ but the play was GLD and SLV

tika_dengu

How long before we see SLV at $120 and Oil at $60?

Ceyenne18

SLV moving up. Silver traders are well informed.

kokanee-fish

Long term (5+ years) I like silver because of the combined use as a store of wealth and an industrial material, and the high volatility is great for selling options. Short term, though, both sides of the hybrid value are working against it, with potential rate hikes pressuring the inflation hedge play and tech selloffs pressuring the industrial metal play. I'm looking towards a post-Trump future where tariffs are rolled back, inflation cools, rates come down, and we get back to investment in a clean energy economy. In that scenario, silver could really soar again -- but it's a ways off, and rates could go through several rounds of hikes before we get there. For now, a small portion of my portfolio has been getting DCA'd into KSLV (SLV + options income), which allows me to collect premium on the volatility while buying SLV exposure at prices that are bottoming out. Definitely not financial advice; this position could lose even more value over the next couple years, and is basically a bet on a Democrat takeover in 2028.

jonneh

I just can’t believe how bad it’s gotten for SNDK. This isn’t like SLV or OPEN or some other speculative bets. This is a proper company with an amazing balance sheet and ER last quarter and it gets cut in half within a few weeks. Scurry 😭

Swimming-Dingo-9695

They hadn't even recovered from their SLV losses yet.. you can't expect them to expose their greedy memory losses yet

Ornery_Ad98765

SLV to fucking zero apparently

jonneh

SNDK is the new SLV

ChreeKnowsBest

I survived SLV crashing over 30% in one day, this shit is just a Tuesday to me

Ornery_Ad98765

I sold SLV 65p last month, how long y’all think I’ll have to roll it for

GoTakeCoffee

You might want to research what happens to sectors/stocks that go parabolic and pullback significantly (GLD/SLV, Quantum, small Ai names, EV, solar, Covid biotech, etc. etc.)

Sick0h

Keep your eyes peeled. The next SLV/memory run for something is right around the corner. Just gotta figure out what it is

Fhyzikz

SLV's revenge

ramy_mousa

i wonder where are the SLV fanbois when they were saying it's going to 200

Informative-V

Silver is going to skyrocket this week so $SLV

Fhyzikz

SLV 2: SLV or Die Hard

Eastern-Joke-7537

I put on an SLV call. Trying to time that with options. My last SLV bullish calls fizzled out. Other than that, I am about to buy a few shares of individual stocks. Maybe just non-tech.

ImpressionAny1078

IV rank at 18 on SLV right now, so yeah the CC premiums are basically garbage. that's the core problem you're staring at. honestly the play most people in this situation use is selling CCs at strikes you'd actually be okay getting called away at, even if that's below cost basis. taking a smaller loss beats sitting on dead capital for 18 months hoping silver rips back to $74. what's your actual thesis for SLV recovering to those levels? if you don't have one, that's worth sitting with.

MagicJuggler

SLV below 50. Now to see if it goes another leg down or consolidates. GLD is green but xauusd remains below 4000 for now.

Ok_Cry7572

SLV 1DTE $100P: $52.3M traded at the ask today Why someone got that?

Eastern-Joke-7537

I bought an SLV call around noon. Let’s see what happens. Could be due for a bounce, but I have been thinking that for a while now.

Personal-Ebb-4717

there goes my entire YTD gain and then some, everything i own shit the bed, NFLX, NBIS, CRWV, IREN, ASTS, SLV, OKLO. Back to grinding my 9 to 5 low wage menial labor job for pennies.

Moepenmoes

Why do I still trust this sub's advice after you guys told me to buy $SLV at ATH back in january?

vermilli21

I think GLD and SLV is dead dead

Fhyzikz

SLV almost at 50. What a deal!

kvndoom

I didn't think after GLD/SLV I'd be getting bitchslapped so hard again 6 months later. They made a movie about this- One GUH After Another

Mysterious-Device-53

When SLV $300? LMAO

Kaleidoscope-That

If OP decides to sell for this reason, make sure you don't buy SLV for at least 30 days after liquidating, or you might get hit with the wash sale rule and not be able to use the loss for tax purposes.

Mrkt_My_Life-315

I’ve been doing for a long time, and when this happens, you want to do call credit spreads, at least on half your position. Sell at the money call and buy out of the money call . If SLV goes down you collect the premium difference. If SLV goes in a run you participate to the upside with the long call…and if it’s a big pop you sell covered calls on the long call position. There is always a way…

IwtfNDita

SLV is too volatile to take any kind of risk of being assigned. Yes, you’re going to get good premiums, but look where you’re at now. I only ever traded long puts or calls on SLV. Selling CSP’s & CC’s should only represent a small portion of your total portfolio. You need to make the tough decision on when to cut losses. SLV may never get back to 70. Long term charts not in your favor. Hopefully theres a nice run and you can recoup a good chunk.

Metacog_Drivel

Someone legitimately bought SLV at $109.83

stockcode123

I see SLV doesn't have much of sentiments, at around 34, they are bearish, which means prices may not be going up in near term, so you can adjust your goals, couple of options: 1. Sell and get out of position, if you think it is going down, as you see both precious metals are down quite bit. 2. continue to hold and sell covered call with ITM or slightly OTM, to recover as much cost, if it is sold, accept the loss for the rest, otherwise continue selling calls with precious metals they become valuable only when there is uncertainty, which is now mostly done, my thoughts are less chances within next year for significant recovery.

YogurtclosetMajor323

I gave up options I just buy SLV or bu silver in person

YogurtclosetMajor323

[https://youtu.be/vi1Et3clS2k?si=OEPsifx1BXjzhOKT](https://youtu.be/vi1Et3clS2k?si=OEPsifx1BXjzhOKT) how I feel about SLV

YogurtclosetMajor323

im thinking SLV leaps will be the ticket

YogurtclosetMajor323

i would love to see INTC back at 20 and SLV vack at 30 but realistically. are we gonna seee that ?

esInvests

hey man, a few general thoughts: 1. not to rub salt in the would, but really important to point out - the scenario you didn't anticipate, is the precise risk to this trade. wheel traders often describe it as, sell csps until assigned, then sell ccs until assigned. the issue is when you're assigned on the CSPs, it can trade well below your basis. but also note, this same thing can happen to the upside when the trader is upset they collected a small credit and gave up their upside. lesson learned but important to note. as for steps forward, there are a few things that can be done. i actually trade a covered strangle as part of my core allocation - this is a cousin to the wheel. rather than csps until assigned, i buy shares and sell csps simultaneously and i sell calls at a ratio against the shares to collect credit without capping my upside. like you, i have a position in IBIT that i was assigned early on. back to you though. it typically is helpful to outline the broad decisions you have: 1. close for a loss (full or partial) 2. sell CCs at or above your basis 3. sell CCs below your basis 4. hold the position 5. unassign the position 6. a hybrid to review your scenario. 1. a partial might actually make sense here because you're clearly concerned about more downside which leads me to believe you're likely oversized and over utilized. for example, with my covered strangles, a key trick to the position is having a trade allocation and utilization. the purpose is to keep money set aside to be able to scale in as things move, this gives you the best method to manage positions and also take advantage of the recovery move. within the last 52 weeks, SLV has traded in the 30 handle. I would look at my position and consider how I would react if SLV was at $25/30. while i wouldn't be happy, am i still okay? if not, need to size down. also remember, there is an opportunity cost to capital parked in a struggling position. 2. youre priced out of this currently. 3. i agree with your assessment somewhat. depending on your comfort with derivatives, i often will sell calls against my long shares below my basis at a ratio, to keep my upside intact with the intention of rolling and scaling in on the short calls if needed for better basis adjustments. if that's not viable for you, id simply skip. 4. this is also viable provided you have a plan. hope is not a plan. youd want to clearly articulate how long you're planning to give SLV to recover and you need to be able to provide an objective bull analysis (that is NOT skewed by your current position. aka, would you enter now?) without that, youre committing the sunk cost fallacy. also, you need to have a clear cut point. IF SLV continues lower, at what point do you exit. you CANNOT allow the disposition effect to take hold (the propensity to let losing trades run and cut winners too quickly). holding is a core part of the wheel and covered strangle but it requires a plan like any other part of the trade. 5. this is another choice. on your 1100 shares, your aggregate basis is 73.27. that means the current unrealized loss is -$23,224. we can convert this to required premium, aka you'd need $23,224 credit to offset this loss. your total invested capital is $80,600 currently valued at $57,376 - this is the capital you have to work with. next is to see if/where we can find that - it normally will start around your basis then depending on how far you go out in time. the benefit to unassigning into CSPs is it allows you to manage your basis dynamically and collect a little theta. again, like the thing i cautioned you against earlier, you have to consider the the downsides to things, not just what we like (this is avoiding golidlocks analysis). the risk here is your delta. if you're holding shares, if the underlying goes up, you move dollar for dollar. with the short puts, you see less of the move and even less as it moves in your favor. that means it can take a bit longer to recover comparatively IF you get a move in your direction. this is really just a super high level overview, i dont really have the context to go deeper but in general, it seems the path forward is simple: 1. analyze the underlying and build an objective thesis 2. determine based on your current position size, where your hard stop is to the downside and respect it 3. consider trimming the position from the jump anyways 4. i would either sell CCs below basis (not this does NOT change your basis, that's a fake mental trick. your basis is whatever it is) to monetize the holding. this would be at a ratio with the plan to manage it if the underlying rallies sharply. the other i'd consider is unassigning part of the position. I personally would do a hybrid but i also wouldn't be fully invested right now, i would have capital set aside in the allocation to scale in so might not be viable. good luck man

YogurtclosetMajor323

I need the profit from my SLV calls back from the beginning of this year please MM. I worked hard for those

jbaker_28

Old adage says you don’t have to make it back where you lost it, would be the first thing I’d say. Second would be, you have an opportunity to lock in anywhere from a little tax loss to a sizable chunk. And doing so would also adjust the position size down a little so you can actually sleep at night/don’t look sickly. Been there many times. It’ll sting, but it’ll lock in a tax tailwind that you can take advantage of elsewhere. You could also wash sale some shares and buy them back, and just live with whatever happens in between. Who knows. Maybe SLV is at 45.00 then. But good reminder that taking good losses is so important. And sometimes so hard to do. I’ve gone full deer in the headlights many times and it ain’t fun. Anyways. Maybe an all or nothing situation isn’t what you need. Maybe just an adjustment to what’s in front of you.

Mysterious-Device-53

SLV bols finally cut their losses, and jumped into MU at 1200 LMAO

MerryRunaround

Actually the "stock repair fallacy". This is simply adding a debit spread to a covered call. The debit spread could just as easily be placed on any ticker at all, and there are many with better potential than SLV. User would have to argue why a debit spread on SLV is the best choice. If the belief is SLV rallies user is better off not using it to sell a call.

Keizman55

Alternative Solution: In the past, I would just start selling CC’s above my cost basis, even knowing it make take months before I collect enough premium to escape at break even. A few months ago, I got caught in a similar situation OP in GLD and what I did was quite different. I had been wheeling AMAT a few months earlier but had gotten out of it before earnings, and had never gotten back in. I was a lot more positive about it’s prospects than GLD, so I closed my puts for a pretty big loss, and sold puts well ITM and collected the same amount of premium, figuring that AMAT would move up a lot more quickly. I got pretty lucky and AMAT went on a tear, even more than I expected, and my contracts are well OTM now. Even rolled on e for more premium. So instead of sitting on the GLD hoping for a turn around, I took my loss and put it into something with better prospects. BTW, SLV and GLD have similar prospects right now, which is not good for holding on and hoping. I’d be looking to redeploy into something with better short term prospects than chipping away at SLV. The key to this strategy is that you have to find a ticker with better prospects and have decent premiums (due to high volatility). Alternatively, you could take the loss, but not go too deep, just recover some of the loss, but be back in action, rather than sitting on the contracts.

scottdxxx

Trying to recover via selling covered calls is picking up pennies on the railroad track not noticing the train coming. SLV has spent 8 months out of decades above 50. Do you have any insight that suggests it should trade higher or are you just hoping? You’ve lost about $40K on a highly risky strategy. Cut your losses unless you can afford to lose another $40K if SLV settles back into $20-$30 territory.

Pristine_Cricket_633

I would sell one CC weekly at the 56 strike. If by Friday it is ITM I would Sell Another CC at the current ITM strike of 57 or whatever the current ITM strike is for the following week. The 56 that was assigned will be available in cash by Monday. I would immediately sell another CSP at or below your assigned 56 strike. It will take time, but you will get your cost basis down a little. Nothing is risk free, but you now know the risk of doing the Wheel strategy. I took losses on SLV earlier this year in the 70's. I figured if they kept silver down for decades, what is keeping them from taking it down again. Glad I did. $53 yikes. SOXL did the same thing to me In June. The volatility is insane which drives the premiums thru the roof. Everything seems easy in a bull market. GL.

madsdawud

If you like precious metals there’s the industrial side and the metal itself. SLV is an ETF for a custodian that manages some of the actual metal. Personally I’d rather hold some quality mining companies

Successful_Safe_1440

id probably just sell puts on SLV until i got liquidated

StephenMorphIQ

The early assignment is mostly a distraction. Once those puts were deep ITM, their deltas were already approaching share-like exposure. Assignment changed the wrapper from short puts to stock; the underlying move and 19-contract household concentration created the loss. I’d reset the decision at today’s mark. Across both accounts you own 1,900 SLV shares. If you had the equivalent cash today, would you choose to put that amount into SLV at this price and size? If not, holding solely to recover the old basis is anchoring. If yes, define the thesis, time horizon, and maximum additional loss before choosing an option overlay. A covered call isn’t free cost-basis repair. It’s a new trade that exchanges some recovery upside for premium. Choose the strike based on an exit you would accept now, not the historical purchase price. Every repair structure improves one part of the payoff by giving something up elsewhere.

WorldlyWar2143

no emotions in trading boss. if you wanna go long on semis with some extra risk, just hold what you can afford in something like soxl. semi trade is very expensive right now and people will shit the bed and their portfolio soon enough. look at SLV this last year. everyone was buying the top and where did that go. I know, different type of asset, different catalysts, and different reasons it pumped. but that doesn't change the fact that were trading tickers that have pumped thousands of percent this year and options on short leverage etf's are just asking for trouble.

Minimum_Curve7545

Is SLV a good long term investment ?

BusyFunny7267

Now is a good time to sell CSP to average down your position if you get assigned then it lowers your cost basis. But I personally wouldn't have more than 20% of my portfolio in SLV

spilledonwhite

Those physical etfs underperform IAU SLV and I dont know why but yeah fuck that. Less liquid too.

uncleBu

How much of your total net worth are we talking about here? If it’s a significant chunk it would be best to take the expensive lesson and move on. Commodities are highly volatile, there’s no good reason for SLV to not go below $50 (or $30) in my opinion. You are also using a strategy that can be shown in almost all cases to be ineffective. I would suggest to not go so heavy into options if you don’t know what you are doing.

Even-Celebration9384

Sell if you can match with something with gains. (I.e. if you have a gain in SPY, sell your SLV losses and sell your SPY gains so that they cancel out. Replace spy with VOO) The wheel does not make sense as a strategy especially for a commodity imo. Are we vol sellers or are we not? Why are we not selling the same deltas? Maybe for a value stock if you have a line in the sand but silver’s value is speculative. There are no cash flows to draw a line in the sand Also stop doing this. You are just handing market makers money. You have no idea what you’re doing. If you want to own silver because you like it, just buy it and put it in a safe or just buy and hold the ETF if you must.

Glum-Basis-9076

If it were me I'd buckle down for a long, long wait and start selling calls at my lowest combined cost basis. $70 strike one year out is selling for around $500, that's a 7% annual return.  Not going to lie though, SLV could easily go down to $40 and stay there for a decade. But you'll still be able to beat CD rates with those calls and some day it will suddenly double or triple again out of nowhere. 

DitmCalls

I understand the logic behind not selling calls below your cost basis. However, I at times do so. I almost always sell .10-.20 Delta contracts, rarely getting assigned. I think you can safely do so with SLV while you whittle your cost basis down. The spreads are something I also do at times, if my favorite underlyings have risen such that I am limited in the number of puts I can sell.

silverbulletusa

That is a incredibly heavy burden to carry, and I completely feel for you and your wife. Seeing a combined 1,900 shares deeply underwater brings a massive amount of stress home to the dinner table, and it is completely natural to feel anxious when a trusted system like the Wheel leaves you holding a massive bag. Please don't take this as criticism at all—I'm just looking at your numbers from an outside perspective to offer a recommendation that might help you handle the risk going forward. The spot you are in right now highlights the main structural vulnerability of the traditional Wheel strategy. It works wonderfully in sideways or steadily rising markets, but it has no native mechanism to protect you from a severe, sudden downside gap. When you get assigned early on a sharp drop, your cash is instantly transformed into fixed equity inventory, completely locking up your balance sheet while the asset continues to drill down. As you figure out your next steps with your wife, consider these operational concepts to help manage the exposure: * **Avoid the Low-Premium Danger Zone:** You are exactly right to avoid selling Covered Calls way below your cost basis just to chase pennies. Squeezing minimal premium at a $55 or $60 strike exposes you to the massive risk of locking in a catastrophic permanent loss if SLV makes a sudden, aggressive recovery. * **The Power of the Cash Runway:** For future setups, treating cash as a strategic asset rather than an uncommitted pool to be wheeled continuously is a game-changer. Maintaining an ironclad cash position—sometimes up to 84% of the time—allows you to sit completely on the sidelines during macro downturns, keeping your capital safe and fluid on the runway until the numbers are heavily in your favor. * **Enforcing a Capital Defense Shield:** The ultimate way to eliminate this specific type of anxiety is to step away from the "hold and hope" method entirely. Transitioning your framework to include strict, mechanical pre-trade checklists and rigid capital defense rules ensures that a position is automatically cut and taken off the table long before it can ever trap your core balance sheet. Take some time to clear your head and talk things through with your wife without making any emotional panic moves on your shares today. If you ever want to look at a complete, rules-based enterprise framework designed to transition your portfolio into operating strictly like the house with a heavy defensive shield, feel free to check out the pinned post on my profile. Hang in there, keep communication open with your partner, and take it one step at a time!

Cycling-Boss

This is why I had zero intention of selling puts on SLV w strike prices in the upper 60s and 70s. I also don't have the capitol for the # of contracts he sold either. Which means I took a break from SLV puts for a while until I could earn premium at a strike I was comfortable with. Point is, something you are happy to hold AND at a price you are happy to buy at. Right now I have 1 open at $60 strike that I have rolled out already and have an order to roll again. I just keep chipping away at the cost basis. Which brings me to another point, I assume he wasn't assigned the very first time he sold a put. Were there 20, 30, 50 contracts that expired worthless or closed for a profit. That needs to be figured in. Assignment will happen, but how has the OP performed overall? If you made $50k selling puts and are now taking a $20k beating its a very different story than being upside down $20k on the very first set of puts you sold on this ticker. What is the cost basis really at here?

questionr

So, together you own almost 2,000 shares of SLV, putting your position just over $100,000. That's appropriate sized if you have portfolios in the 7-figure range. But since you're stressing about one position, it seems likely that you're overly concentrated. Concentration is great if you get lucky, but bits you in the ass if you're wrong. My advice: sell calls aggressively knowing your shares will get called away to shrink your position size in a single underlying. Then, diversify.

Costheparacetemol

You could try the Stock Repair strategy: Your cost basis is $72 (ish) Current price is $55 (ish) Mid-price is therefore $63.50 Goal: get out of the underwater wheel trade as quickly as possible, without a loss; i.e. get to breakeven. Trade: For every 100 shares, open 1 long call ATM ($55) and 2 short calls at the midpoint ($63.50) Expirations: Must BOTH be the same. Optional: Set expirations as far out into the future as you need so that the credit for the 2 shorts is enough to buy the 1 long. This strategy makes sense if you think SLV will recover slowly but do not want to wait for full recovery. It does not work with you think SLV will stay flat or go down further.

sam99871

I held SLV leaps for the same reasons but I eventually decided the price was elevated because of speculation, not industrial needs. I think a lot of the speculators (including me) bailed out during the rapid fall, so hopefully it’s found a floor and won’t go too much lower unless industrial demand falls substantially.

PapaCharlie9

> I never anticipated being this far underwater. This is what every Wheel trader ends up saying, after they stay in the game long enough. A key requirement of the Wheel is that you use a ticker for which you don't mind owning shares, for potentially years, even decades. Does SLV meet that requirement? If it doesn't, you made a mistake trading the Wheel on it and should unwind the position in the most tax-advantaged way possible and never touch SLV for a Wheel again. If it does, what's the problem? If it takes a decade to recover to your entry price, you knew that was a possibility up front. I agree that selling CCs below your entry price is a mistake. That's just about the dumbest thing you can do (I haven't read other replies yet so I'm probably stepping on some toes writing this). Instead, if you believe in the long-term value of SLV, it's time to buy more shares at a discount. DCA your average price down by buying on the way down to the ultimate bottom. If you don't believe in the long-term value of SLV, again, it was a mistake to trade the Wheel on it.

adamantiumtrader

SLV isn’t a company 😂

adamantiumtrader

If you sold SLV at $100 you’d have your own Porsche too, alas your mistake was thinking a pet rock was actually worth something long term. And on top of that, not even the physical or the futures delivery, you chose a etf derivative and traded derivatives on top. Now look what happened. If you just bought the damn metal at least you’d have a shiny pet rock to play with. Now all you have is worthless paper. I like selling worthless paper, it pays my bills each and every time.

Moonwalkerq

Thank you for your time and comment. It seems a good way, Actually when it has been started to down really dip and quickly , i just stuck and watch the price. i dont know how long it can be go down, otherwise im okey with SLV, and of course we stuck all our money in SLV . Thats why i started to share this post and try to get some advise. Hey thank you.

Moonwalkerq

yeayyy thanks :) Yeah actually i just stuck in SLV . that is the thing is disturbing me . otherwise all is ok.

Moonwalkerq

Actually i havent expecting slv is going quickly and deeply down. Silver should be go up cus of technology . They re using a lot of silver for everywhere. Thats why actually i started to sell csp and cc on SLV . Normally i havent selling everything on SLV but premiums and other things forward me to SLV .

fire_alarmist

SLV/GLD will have their moment again when these retards scam too hard, the veil is pulled back and everyone realizes its all baseless retardium. Then the +10000% candles come.

Dstein99

You could keep the trade alive and bide time but you now own shares at $54, the market doesn’t care about your cost. If it causes anxiety I would take your $54/share and sell at a loss. This completely depends on your sentiment towards SLV so I can’t tell you if it’s better to sell the losing position or try to wait it out and collect premium. If you want to try to keep it alive and not lose money I see the 9/18 $75 C for around $0.50 which would be better if you want to stay closer to today and expect a sharp rise or 10/16 $75 C for around $0.91 which offers more premium for going slightly farther out. You will need the price to come up because 50 cents won’t bring your breakeven down to current price anytime soon, you’re more so collecting some pocket change while you wait for the price to come up to your breakeven. If you expect the share price to stay down here I would look into a new trade.

ThetaEdgeHQ

The piece worth separating out is that at your cost basis the covered call income everyone is suggesting barely exists. Blended you are around 73 and 71, and with SLV's volume shelf sitting in the low 50s to low 60s, any call at or above your basis is 15 to 20 points OTM and pays close to nothing. So selling calls at breakeven is not really generating income, it is capping your recovery for pennies. The only strikes with real premium are below your basis, which locks in the loss you are trying to avoid. That is the actual bind, not a strategy you ran wrong. The other thing is that the two portfolios are really one bet. 1,900 shares of SLV across the household is a single commodity position, not a wheel spread across names. Whatever you decide, size the recovery plan against the fact that it is fully concentrated in something with no earnings and no cash flow to anchor a valuation.

Level10Retard

What's the P/E on SLV?

Accurate-Exchange298

As a followup, the Volume profile bands for SLV show POC = $54.42, VAL\_HIGH = $60.17, VAL\_LOW = $50.24 These shift over time, but there is a very thin shelf above $65 as you see in the graph below, so you can probably get a little aggressive with your strikes and sell ITM calls around $68-$70 to get a slightly higher premium. As a rule, I never sell below my cost basis. https://preview.redd.it/xehbdtm5d7ch1.png?width=1367&format=png&auto=webp&s=bc5980522d3f791d14916229de17fe10e7247f65

Accurate-Exchange298

I am nor a trade advisor so what I say below is just what I would do in this situation and I am not implying that you should do the same . I am not liable for any losses so trade at your own risk. It is always unfortunate that we run into these situations at time, and it requires patience and perseverance to manage the trade and hopefully claw back to break even. Having said that, I do not know if you sell covered calls, but you can use that to reduce your cost basis over time and . The only problem is that you have to pick the right strike so that you do not get assigned. You can start with a few of those positions to test the waters if you prefer. The link below shows how I pick strikes to sell covered calls based on Volume profiles (POC/VAL\_HIG/VAL\_LOw that have helped me reduce (not eliminate completely) the risk of getting assigned. This will help you make an informed decision. [https://www.reddit.com/r/options/comments/1u3qbv1/picking\_option\_strikes\_based\_on\_delta\_is\_not/](https://www.reddit.com/r/options/comments/1u3qbv1/picking_option_strikes_based_on_delta_is_not/) Here is what I would do: Your portfolio - 1100 shares at avg cost $73.3 Safest best - Sell December $75 Covered call (Note - is is above above your cost basis) for $1.74 You get $1914 upfront and your cost basis reduces to $71.56 If SLV does not hit 75, the calls expire worthless and you can write a new call three months out again above $72 strike to lower your cost basis. If SLV hits $75 suddenly and you get assigned , they will take your shares at $75 and you will come out head with a net profit of $3784 at expiry. https://preview.redd.it/crdqqn4897ch1.png?width=597&format=png&auto=webp&s=06042123b0884a38f162ccee90b99f3ab0f382fc Your wife's portfolio: 800 shares at avg cost $70.69 Safest best - Sell December $71 Covered call (Note - is is above above your cost basis) for $2.12 You get $1696 upfront and your cost basis reduces to $68.57 If SLV does not hit 71, the calls expire worthless and you can write a new call three months out again above $69 strike to lower your cost basis. If SLV hits $71 suddenly and you get assigned , they will take your shares at $71 and you will come out head with a net profit of $1944 at expiry. (Reddit will not allow me to add a new screenshot for her trade. The only catch is that is SLV suddenly took off, your capital is stuck till expiry in December when they get assigned or if silver continues to fall... And it might take a bit to recover, but all is not lost. You can DM me if you have any questions on the post or the mechanics of it. All the best

JustGotAssigned

As you started to wheel SLV, I assume you wanted to hold long term? I would just do that and collect small premium until (if) it goes back up

solidlyaverage1

There is no magic wand to get you out of this. Either close the position (lesson learned), hold long term as an investor, or sell calls that actually bring you some premium. If SLV recovers, you can roll those short calls up and out and hopefully get them to a point where you are back above water. Holding out to sell calls at your breakeven point is not a strategy. It’s a bet. Imagine if SLV spends the next two years chopping between 50-60, and you could be selling the 60 calls over and over again collecting premiums but you don’t because 60 is below your breakeven.

Moonwalkerq

Thanks for the solid advice! The call spread idea (Stock Repair Strategy) actually sounds like a viable way to manufacture some premium and protect against a violent upward move. I'll definitely look into the option chain and run the math on the potential "dead zone" strikes to see if the risk/reward makes sense for our portfolios. To answer your question: No, we weren’t intentionally selling them ITM to get assigned. When we wrote those CSPs, SLV was trading normally and those strikes were either OTM (Out-of-the-Money) or just slightly near the money. The issue was that SLV took a massive, sudden dive, and we got hit with early assignments on almost all contracts back-to-back before we could effectively roll them out. That's why our cost basis ended up so high compared to the current $50-$55 channel.

Cagliari77

I would sell half for loss and call it tax loss harvesting. Keep the other half for a potential recovery if you want but bag holding everything is never a good idea in my opinion when that capital could be used for other investments. Sometimes some trades are losing trades. They shouldn't become a reason for unnecessary bag holding. That capital could already be making profit elsewhere and offsetting your SLV losses.

AfraidAnalyst

Glad I sold my GLD and SLV yesterday for small profit

sgemma

SLV and PPLT options… still did ok because i ran it up to about 225k and had enough sense to cash out my initial investment (20k) and about 40k profit, however that playing with house money mentality is also probably why i didn’t cash out the 90k remaining after the jan 30 crash

AfraidAnalyst

Day is better when the losses from that GLD and SLV play are erased and the 20% loss on calls I shouldn’t have sold

kvndoom

You're not suffering alone. Trust me. I'm just glad I skimmed some profits on the way up. I learned my lesson from SLV.

GrossFleshSack

GLD and SLV should follow soon if we don't dump

verified-trader

**BanBet Error** — Could not get current price for SLV

getshmoney69420

!banbet SLV -5% 3d

bigassdump

SLV round 2?

cool-lala

Bruh not 50% but 30% don't watch too much CNN and for oil Jpm and MS is manipulating the market like they did for SLV so dumb money loses sorry man leave it I shorted oil at right moment up 79% not selling anytime soon. Godspeed brother.

AfraidAnalyst

I randomly bought GLD and SLV before close

SistersOptionSeller

SLV for the agents. Your heart desires shiny metals.

CoC_Axis_of_Evil

Cash out. Weird central bank moves imminent.  Long GLD SLV SIVR SGOL

Eastern-Joke-7537

If the low from a week or two ago holds then the low could be in. Same with gold. I have a decent amount of the stuff (plus an SLV call), so I am mostly watching the tape and the charts.

CoC_Axis_of_Evil

No silver comments here. SLV might be at the bottom assuming panic market meltdowns are over with.