Options trading in iShares Silver Trust (NYSEArca: SLV) jumped on Monday as silver rallied close to its nominal high from 1980, according to reports.

Monday’s trading was tilted toward bullish call options to buy the silver exchange traded fund (ETF), The Wall Street Journal reported.

Call options with the right to purchase the silver ETF at $50 a share by mid-May were Monday’s most active contract, according to the report.

The nearly $17 billion silver ETF closed Monday at $45.83 a share amid heavy trading volume.

Reuters reported other trades in iShares Silver Trust on Monday suggest some options traders may be betting on a big correction in silver prices.

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