Hello elmat, an update
Last night I shorted a wallop (enough for at least 30-days of free living) of FNV (Franco Nevada) @ 2.25/she for March put options w/ strike-price 75/shr
My reasons were a mishmash of thoughts threaded together ...
- I was skewed to HKEX (0388.hk) and Tencent (0700.hk) from which gains were realized and more to be realized, but am skewed
- I have a starter stake in paper silver and shall add this day, for I believe silver shall rise after end-January, and if so, may move strongly for a bit
- should silver move up, gold would as well but vast majority of my gold is a permanent pile in physical form and not for trading or otherwise encumbered; given so, I need some wager to play the energy that gold gives off, so that I can harvest as I wait for Teotwawki and D.I.
- I have interest in currently not-publicly-traded gold mine and do not need more mining gambles, and I believe best to have equity in a gold royalty company that knows what it is doing, so settled on FNV
- not willing to simply pay up, so shorted the puts, and would be okay if put. Should I be put, would then look for opportune moment to short covered calls. If not put, would just short put again for another round of harvesting.
- may short put in February for April expiration, to keep the harvesting regular
- interesting that FNV also engages w/ royalty streams if carbon energy ventures, and given the link between gold and energy, just interesting
- am not convinced that a generalized debacle would happen in financial market w/i Q1
Watch n brief |
