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Maybe. They could be preparing for the inception of the various Asian exchanges...Looks like the amplitude of the drops since August are getting steeper. Desperation?
Looks like the amplitude of the drops since August are getting steeper. Desperation?
Not my chart. Got it from Jesse´s café AmericainWell, if you have a nice predictable indicator like this, with known relative timing, you can sure clean up trading - this seems to have a pretty high hit rate, only a couple times would you not have made good money going short just before, then covering and back to long just after. Good money management is always key, and with it done right, you don't need much better than a 50% good call rate to clean up. Might be criminal manipulation, but if it's this transparent, we can make money off those crooks - justice of a sort.
And this is much better than 50%.
And oh, real nice chart work, SA!
Well, if you have a nice predictable indicator like this, with known relative timing, you can sure clean up trading - this seems to have a pretty high hit rate, only a couple times would you not have made good money going short just before, then covering and back to long just after. Good money management is always key, and with it done right, you don't need much better than a 50% good call rate to clean up. Might be criminal manipulation, but if it's this transparent, we can make money off those crooks - justice of a sort.
And this is much better than 50%.
And oh, real nice chart work, SA!
I think miners do and don't use options to hedge, according to management philosophy. In fact, if trading their stocks, finding that out would be a very important part of one's due diligence homework. It would surely indicate whether to expect them to act as instant leverage on the gold spot price, or not. If they do it too much, they add risk due to them not being as good a trader as someone else, and I've seen plenty of that hubris in other markets.
No requirements to my knowledge.I don't know that anything predictable ruins options markets, there's no requirement to roll them at any given instant, right? Not to make a pun, but I thought you had the option...
Hehe. Thanks. No I´ll leave you to that opportunity. I do the same thing with some small Swiss companies over hereI don't guess my dinky local bank has "the stuff" to do that - if they did, I'd probably take them to the cleaners on it. As is, I make fair money trading their stock, since it seems only me and about 50 tellers and managers trade it, and they seem to be pretty clueless at it. Makes for a great swing trade, and it's like poker in that I know the other players and their "tells". PM me if you want their ticker - no point ruining this nice little game.
No opex manipulation this month, interesting...
Might have to do with the relatively small open interest.
I think without the FED announcement, we would have seen a different outcome.I'm right now feeling dumb I didn't trust my system more when it started to flash "buy" a few days ago (the rationalization is it wasn't a strong signal and did reverse once). Missed that nice big one day runup, and now...maybe more risky to enter.
Today is opex, that's the weird thing...This close to Op Ex it makes me suspicious to see PM's rise. What is it....Tuesday for expiry? We should be getting creamed right now. Something is up. Either they destroy PM's in the access market or they go after them in London and New York on Monday-Tuesday. Either way, we'll likely give back two or more dollars on silver.
You've probably confused options with futures datesUm.....the calendar shows it to be Tuesday, but I could definitely have made a mistake. If it's today, then it is all the more confusing since the historical norm is for silver to be taken directly to the woodshed the day before and day of OP/EX.
... "Someone" doesn't want gold over 1800.
http://www.zerohedge.com/contributed/2012-21-24/central-banks-still-significant-buyers-gold-dip
Gold may struggle to make gains over the coming trading session ahead of the expiry of monthly US options. However, sharp gains could be seen after option expiration – as has often been the case in recent years.
Reuters report that traders said that because the underlying June futures price was trading roughly between $1,550 and $1,600, where most at-the-money open interest was clustered, it was not clear which would exert a greater “gravitational pull” on the gold price.
Most open interest, which reflects investor positioning, is located at $1,550 and $1,600, with a firm bias towards the $1,550 level where gold may be guided towards.
Puts, options that give the holder the right, but not the obligation to sell a predetermined amount of an asset at a set price by a certain date, outnumber calls, or buy options, by nearly 2:1
I can't proove you wrong but the violence of the move up on friday suggests that it was somebody with the power to move the market whereever he wants it to go in the short run. That's typical for an options underwriter.I don't understand impact of options very well but didnt Fridays surge in PMs happen just a few minutes before they 'officially' announced that the EU summit could not agree a budget - which makes sense as bullish for gold.
I would have bought on Friday but judging from the pattern (and not understanding the role options have yet) the people manipulating to the downside will just short heavily on Mon morning when US market opens to activate all new stop losses as normal, no?
And I can put my order for PMs in round noon.
http://en.wikipedia.org/wiki/Option_style#American_and_European_optionsThe key difference between American and European options relates to when the options can be exercised:
A European option may be exercised only at the expiration date of the option, i.e. at a single pre-defined point in time.
An American option on the other hand may be exercised at any time before the expiration date.
I don't understand impact of options very well but didnt Fridays surge in PMs happen just a few minutes before they 'officially' announced that the EU summit could not agree a budget - which makes sense as bullish for gold.
I would have bought on Friday but judging from the pattern (and not understanding the role options have yet) the people manipulating to the downside will just short heavily on Mon morning when US market opens to activate all new stop losses as normal, no?
And I can put my order for PMs in round noon.
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