Hello all,
About 6 months ago I started VERY slowly buying some gold (USGOLD) and silver (SLV) stocks to potentially hedge against some of the uncertainty around the value of the dollar and fear of the tech/AI bubble popping.
Early last month I had finally gotten the courage to start options trading as I have been keeping up with markets more and trying to learn the ins and outs of how it works.
I ended up getting:
– GLD Feb 20’26 495 Call
– SLV Feb 27’26 104 Call
– SLV Mar 06’26 95 Call
At the time, I thought these were fairly cautious calls with where the market was, but then silver dropped ~ 40% and gold ~15%…. I understand that it was to some extent a correction (plus some market manipulation), but overall I feel that silver and gold are or should be good long term options for calls, due to the huge demand and countries wanting to de-dollarize their wealth.
I guess, as a newer options trader, I’m looking for some general (non-financial) advice on strategies a what to do with these current calls. Should I try to roll them out farther? Or cut losses? Not sure where to go from here.
Any advice on currently owned silver and gold calls
byu/CyphersWolf inoptions
Posted by CyphersWolf
4 Comments
Nobody knows. You need a plan before you buy. Good luck.
De-dollarizing doesn’t mean only buy gold and silver. When a nation trades with the US, they transact in USD then buy US treasuries. Trade isn’t going fall, it’s going to shift towards other countries trading with each other. They will thus transact in Euro or Yuan then buy European or Chinese treasuries.
Then you have peak uncertainty, gold and silver are up because there is already expectation for moving away from USD. But what if Trump loses the midterms, thus he has less power on trade, what if he makes a deal with China like he made the deal with India just a few days ago? Expectations will go the other way.
To trade options in such a volatile environment is basically gambling at the casino. Maybe you get lucky and sell at the right time, or don’t. Nobody is going to predict that with a lot of certainty.
If you don’t know what you’re doing, just cut your losses before the investment goes to zero
>At the time, I thought these were fairly cautious calls with where the market was
Long options are not supposed to be cautious. (I’m assuming based on your post that you’re long).
>Should I try to roll them out farther? Or cut losses? Not sure where to go from here.
Rolling them out should cost you money, no? As a long trader. What you really should have done is sold them when gold ripped to 500.
Long options are NOT a buy/hold “investment” like stocks, they are a get in / get out tool. The sooner you internalize that, the better you’ll do.