I like to layer the put strikes across the months and the prices I have outlined here.
Selling December 12 puts.
Selling February 13 puts.
Selling March 14 puts.
Selling April 15 puts.
I haven't checked to confirm that all of these options are available, but you get the idea. If you are unfamiliar with options and this is uncomfortable for you, then I suggest reading about it and learning. I'd be happy to teach you.
Either way, this is a long term trade that projects out six months in total. I believe the stop loss is acceptable at roughly a 75% retracement of the current advance from the low near $11 this summer.
Now that we have had a nice selloff after infinity was announced, I'm imagining a slow rebuilding process that occurs over the next few months where people essentially forget about silver and gold , but during that time long term buyers will accumulate their positions and the market will be set-up for the next big advance into mid-year next year. I think it could happen no matter who chosen as President of the U. S.A.
Tim 5:11PM EST, Thursday, October 18, 2012