Market News

October 14, 2016  Fri 5:14 AM CT

A large trade is betting that upside potential will be limited in the iShares Silver Trust Fund.

optionMONSTER's market scanners show that 5,000 Weekly 17 calls expiring on Oct. 28 were sold in one print for $0.17 yesterday. This is clearly a new position, as volume was well above the strike's open interest of 2,123 contracts.

Short calls generate income and lock in the price where a stock must be sold. The trade is usually done in conjunction with long shares in a covered-call strategy, reflecting a belief that gains will be limited through expiration. (See our Education section)

SLV fell 0.24 percent to $16.61 yesterday and is down 14 percent in the last three months.

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President John F. Kennedy, Thanksgiving 1963

This Proclamation by JFK was delivered November 4, 1963. It proclaimed November 28, 1963 as a day of national thanksgiving.

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