Thursday’s “options activity in SLV seemed to correspond with the “sentiment” in SLV, at least judging by its year to date asset flows, that some institutional players are leaning long. We noticed out of the
money upside calls trade in SLV yesterday during the volatile session, specifically the July 21.50 strikes,” wrote Paul Weisbruch of Street One Financial in a note. [Chart of the Day: Not So Precious Metals]
The double-leveraged ProShares UltraShort Silver (NYSEArca: ZSL) is up 7.4% in the past week.
iShares Silver Trust
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of SLV.