SLW – Silver Wheaton (Last:20.80)

We hold 800 shares with an adjusted cost basis of 11.75 against eight May 18 calls shorted for 0.64.  Yeah, you’re right, I should have had a stink bid in to cover the calls when they dipped as low as 60 cents.  We’ll retire them at some point in the next week and retain the stock as a long-term hold. And someday we’ll feel only mildly chastened for having missed $2 or $3 of the move when the stock eventually trades for $50. For now, though, I will indulge myself one more day of being frozen at the wheel, since  yesterday high at 20.96 was an exact Hidden Pivot target on the hourly chart (A=16.71).