Bulls think it’s time for silver to shine

Silver has been basing out, and investors think it’s going higher.

optionMONSTER’s tracking systems detected a strong bullish tone in the iShares Silver exchange-traded fund. Put selling is the strongest theme as trades accept income now in return for betting that the recent lows will hold.

The September 27 puts mostly fetched $0.61 to $0.63. The September 26s traded for $0.31 and the September 25.50s brought in $0.21 to $0.22. More than 5,000 contracts traded at all three strikes.

Those investors are now on the hook to buy shares in the fund if it falls below the respective strike prices on expiration five weeks from now. The strategy often reflects a belief that a stock or ETF has established a bottom.

Read More at Option Monster

— Option Monster

You May Also Like

About the Author: Option Monster