The Accumulator Trade 2 Update 19 March 2011

On March 8th, 2011 we purchased a tranche of Call Options in Silver Wheaton Corporation (SLW) to open trade 2 of The Accumulator. They are as follows:

100 contracts, June 2011, Call Options, strike price of $50.00 for $3.05 for a cost of $30,500.00 and 100 contracts, June 2011, Call Options, strike price of $55.00 for $1.84 for a cost of $18,400.00.

Today, we doubled our position with a purchase of 100 contracts respectively for $1.38 and $0.76, lowering our average cost to $2.21 and $1.33 and increasing our holding to 200 contracts in each series.

That's it for now.

Don't forget to enter our competition, 20 ozs of Endeavour Silver has to won by someone – it could be you!




Many thanks to those of you who have recently signed up for our options trading service, its very much appreciated, a gentle reminder for those of you who are still thinking about it, the new pricing structure will apply as of 2nd April 2011.

Our model portfolio is up 138.05% since inception, Average return of 41.27% per trade, 67 closed trades, 65 closed at a profit or a 97% success rate. Average trade open for 43.21 days.






The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today, before we decide to cap membership.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.


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Comments

[Di]

everybody trades as he/she wants to. I just wanted to state that I am trading short ( short and strong )

Good luck to all the gold bugs!

[CRAIG WALENGA]

call option price $3.87

[Greek Fire]

Are you guys still expecting to make 100% on these trades? Or is it more like the March 42s situation where you wanted to make it out with minimal losses? Or somewhere in between?

Thanks!

[Ed Galla]

Entry into Endeavour contest:

Price for May $10 call will be $1.18

[Silver Prices]

Ed,

Your are in the wrong place, please go to the competition page as this entry does not count.