Woke up at noon to find silver busting out another all-time high at $41.88 from a $1.22 gain just today due to inflation woes and poor job outlooks.
When all goes to hell, commodities go through the roof yo.
Even though it's an all-time high since 1980, this price is not sustainable after today ends. The price will come down I strongly believe and correct to the 41.40 level at least, if not to the support/resistences of $40.50 as tested from the prior days.
I could also be reading this trend wrong since it "looks" still bullish with higher highs and higher lows.
Yet, knowing the fickle small silver market, I think it'll come down. If I'm wrong, stop limits in place and we're all good.
In summary:
SLV put option (bearish) / May 11 expiration / $42.00 strike
1 contract, paid $258.00 + $5.00 commission
Well re-post when I sell. w00t w00t
Wish I had more dough to straddle this trade. I prefers non-directional.
No comments:
Post a Comment