Options Trading News

March 17, 2014  Mon 11:01 AM CT

Traders are looking for the iShares Silver Fund to break out of its recent range.

More than 73,000 SLV options have changed hands today, already topping the its full-session average for the last month. Much of the action was in the July 22 calls, where 40,000 contracts have been purchased with the largest block of 25,000 going for $0.77, according to optionMONSTER's Heat Seeker system system. This is clearly fresh buying, as the volume was well above the strike's previous open interest of 12,965.

Just before those trades, our scanners show that 7,250 March 20 calls were sold for the bid price of $0.65. So part of today's action could be traders rolling positions from March to July. (See our Education section)

The SLV is down 0.47 percent to $20.52 in midday trading. The exchange-traded fund is in the middle of its recent range between $20 and $21 for the last month. Shares were above $23 back in August.
Share this article with your friends



The fastest money in the market
View full report »

Premium Services

Education & Strategy

The art of trading

As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

View more education articles »