Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

SLW (Silver Wheaton) Selling Weekly 38 Covered Upside Calls to Open

SLW (Silver Wheaton)                                           

Adding to our SLW position here, putting on another 1/3 ...we are also selling covered weekly 38 calls against half of what we just put on - $.60 Sold Calls to Open that expire this Friday. The other half we will sell toward $40 and we will still have 2/3 to 1/3 of our CORE postion on for a move back toward the old highs of 47.60 .      
Selling $.60 on a $37.63 stock is a 1.6% return for 4 days, should the stock get called away the result is a 2.5% return in 4days (Assuming you know how to manage your principal risk through scaling into positions and the proper out of the money put options. This is how we compound our money and have our capital work for us... possible 10% return a month compounded weekly best case scenario and 4% a month is our worst case - this is our strategic cashflow trading plan.                            SLW Daily Chart