What I mean by strike is, that given the current market we can pretty much predict that it's going over $5 to initiate your loan. If it goes too high then I would want the loan terminated and the LTC returned.
I could see something like 5,000 LTC @ 5% until 9/4/13 if LTC sells at $12 then LTC loan would be immediately resolved. This allows you to double your LTC and still guarantees loan repayment; however, you plan on shorting -- so I'm not sure if it's suitable. It's difficult to speculate what will happen 'if' gox picks up ltc.. I would be hard pressed to loan, right now.
I could see something like 5,000 LTC @ 5% until 9/4/13 if LTC sells at $12 then LTC loan would be immediately resolved. This allows you to double your LTC and still guarantees loan repayment; however, you plan on shorting -- so I'm not sure if it's suitable. It's difficult to speculate what will happen 'if' gox picks up ltc.. I would be hard pressed to loan, right now.
I understand now. My assumption was that the strike would be whatever price I decide to exercise my contract at (I will pay back the loan as soon as I do this).
If the lender would like some influence over this, then that could be negotiated. What I will say is that I plan on doing so before $12 anyway.
5,000 would be more coins than I am looking for. If someone is interested in helping me with this I will do some maths and work out how many I would like, but it would be a fair bit less than that.
