$SLV 20260227 80.0 CALL$
$iShares Silver Trust(SLV)$
As the silver market finally bounced back, Muthu boy gazed at his gleaming coins with a grin. He leaned against the counter of his prata shop, seriously considering flipping the sign to ‘CLOSED’ for the afternoon to celebrate the windfall.


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Comments
I only break even at $84, because I paid $4 for the option.
Before expiry, the option still has time value and leverage. During this period, the effective leverage is roughly 5×.
So if silver jumps 20%, the option value can rise by around 100%, allowing me to sell it at close to $8 before expiry.
以SLV 27 Feb看涨期权为例:
Theta为每天13.5美分,包括周末
最后交易价格:3.10美元
周末(3天):
周一理论值3.10美元−(3 × 0.135)≈2.69美元。
现在危险的部分👀
以约7.4倍的杠杆,如果白银仅下跌3%,
期权可能会跌至2.47美元左右,即立即损失约20%。
为了达到收支平衡,白银需要上涨约2%。
这已经要求很高了,只是为了归零。
这就是为什么短期评级是残酷的。
最好购买长期评级:
较少的θ衰变
有更多时间应对波动
精神上更轻松——你不必每天都在与时间赛跑
时间是你真正的选择优势。
没有时间,你很容易惊慌失措,最终做出错误的评级。 @Ah_Meng
Great article, would you like to share it?