Leaderboard

No I don't because the long term floor (4 years) is $17.40. If things got that low in the next 60 days, I would just average down. If things got REALLY bad (2008 levels), and the price broke 15 and headed to 13, I would then buy as much as the January 2016 DITM calls as I could afford. The 2008 prices don't support market demand. Unlike gold, silver is actually used in industry. This is a back of the napkin calculation, but if the amount of silver currently used in industry drops 30% (due to 30% decline in the economy), and NO silver was being used for currency, speculation, jewelry, or a value store (e.g. gold), the price shouldn't ever be down at the 2008 levels. (for someone who REALLY believes that position see http://www.financialsense.com/contributors/ryan-jordan/silver-industrial-demand-best-yet-to-come). Could it happen, sure. If I average down because SLV drops to the mid to low 17s, at that point I probably will put in a stop-loss. If the stop-loss is hit, then I'll be out of the current positions and re-enter the long dated January 2016 puts at the lower level. Again, highly speculative, high risk position.