If I hear right, and I could be wrong, but rumor has it if you purchase a contract for say $150k (depending on the price at the time of purchase) and when it's due to expire the comex knows they can't fulfill it, they then pay you 30% of the 150K (=$45K) because they may not be able to fill it... I'm sure 30 of us guys can come up with $5K each and purchase one of these contracts as a collective group? I see it's a WIN-WIN for every little guy in the merry bunch of 30. If they pay out, we get our hands hand the shiny stuff at a good rate and if it goes the other way we're all up $1.5K each (nice) Perhaps someone has suggested this before but I thought I would throw this to the floor. I'm sure there are much more astute people than I am who may have considered this before but have flagged perhaps pitfalls in the idea. I understand that those 30 would have to come from one city to make this work. ---------------------------------------------------------------------------------------------------------- Past post from: Turk:- Yes, the rich guys ARE moving in - but they are doing something more clever than just moving the price up. They are waiting until options expiry and registering for physical silver delivery - knowing that there isn't really any silver left. At expiry time they are offered a cash settlement instead of the metal - with a bonus of 30-50 percent. So they take the cash, and will be back again next time. It's a cash cow for them and they aren't in a hurry to break the bank. Making 50% ever few months is not bad. THAT's why the price is all over the place. --------------------------------------------------------------------------------------------------------
Funny, I was looking at what's involved in futures trading this arvo Didn't get far other than finding out it's possible.
I know it would be a challenge but think of the positives on the journey.... Us 30 would all know how to buy a contract. Sure, we will run into bumps along the learning curve but if it was easy everyone would be doing it A problem shared is easily overcome as a collective group.
You get 5k of silver? I don't see a problem, although I also don't have 5k of spare fiat lying around to put my money where my mouth is
I would expect we take delivery 30 way split. Just remember, when I posted this idea above I wasn't looking for questions that can't be answered. I was envisaging people in the group to know their little bit about answering that part of the challenge. Someone posted in times gone by to own a bloody silver mine in Outback WA for Gods sake I think this may be a little easier.
They wont give it out in nice 5k parcells, you'll get a couple of 1000oz bars or something, get out the hacksaw!
Dabloodymess- 1.5K return on 5K = 30% return better than any bank deposit. I'm sure you can find the $$$$
Its a bit beyond my means right now, moving interstate and going back to uni hasn't exactly seen me rolling in money
Guys, If servicing info in the paper market is anything to go by... you might not have much time left. Very slack deliveries this month... Due to massive amount standing for delivery (taking time to process)?? or Due to lack of metal to distribute?? You be the judge. Harvey has a few words on this below: ------------------------- Thus the total number of silver oz standing in this delivery month of March is as follows: 4,900,000 oz (served) + 4,480,000 (to be served) = 9,380,000 oz On Friday we had 9,355,000 oz so a few more silver bugs standing for the metal surfaced. This is the first time in silver comex history that we have seen an amount still standing equal to the amount already served. There are 8 days left so an average of 560,000 oz must be serviced on each and every trading day until the end of this month. It is quite obvious that the comex does not have the silver available for servicing our patient longs.
Just remember when you read and actually digest this topic you must say to yourself " I want to be apart of this and kick it along" otherwise we'll get bogged down in talk, talk and not actually doing this. So, here goes who on this forum has any idea about the first step in purchasing a silver contract? Maybe a person on this forum knows a person who actually has purchased a contract? It's obviously that person we want to speak too first. Once we find out this we have begun the first step. I know it will gather up speed after knowing this first step. I also know " he who dares wins " When it comes to the $5K I reckon we'll all find a way to get that $$ together once we know more
I thought only the big players (non-commercials) got this treatment? I doubt someone with 1 contract would get the same offer. Would be happy to be proven wrong though!
Yeah, I thought the same rbaggio. One contract can be delivered on...surely. Having said that 'that' let me say this 'this'::: I'm interested.
Futures contracts are marked to market and settled on a daily basis. If there is a sharp decline in the price it can trigger a margin call and you will need to bring your account back up to it's initial margin before the start of the next trading day. Therefore you need to be cashed up to to start playing the futures market to weather any price declines. If you can't make the margin call your position will be liquidated. If you want to play that aspect of the market, CFD's, Options trading are another way of leveraging yourself into silver/gold market and you don't need 150k to do it. All these are highly speculative plays, so make sure you do your own research and know the risks before you start trading any of these instruments, otherwise you can get wiped out quite easily.
Okay fellow stackers, MB trading in the US through the CME Globex trading platform offer full Comex contracts on all metals plus offer a mini version of the Gold Silver and Copper contracts which are half the size of the respective standard sized contracts. I have emailed their director, [email protected] and left a message on their answering service as its in the middle of the night there (1.30am). As more info with exact details become avail to me i will post on this thread.
Heres a start.(but make a cuppa first) http://buying-gold.goldprice.org/2008/10/how-to-buy-gold-and-silver-on-comex.html
