Along this channel, SLV can find itself at 22-26 by Jan 2021 option expiration date. Those call spreads are at $032 now. I did 20-25s at $0.51. At the 22 lower channel line, that's still at 4:1 play. Of course, options trading is risky and not appropriate for everyone. But for me, a good time to continue adding to the 2021 position in light of my earlier post.
Note
One reason I was a little eager to buy some options here is this chart. If you observe the BBW indicator, it is a measurement of volatility. The daily chart shows it to be extremely low. Several weeks ago, the Jan 2021 20-25 option spread was trading at $0.70 or so at 16.37. This morning, got it for nearly 20 cents less, same SLV price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.