Taking a Shot at Silver

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Silver is coiled up perfectly and looks ready to rip. 

I think this trade is literally leaving the station right now. 

I’m going to use the ~25 delta calls, but bring the timeframe down on one of the trades to make sure we hit big if we nail this entry.

First up, let’s play the metal itself via the iShares fund $SLV. 

I’m buying the $SLV 6/20 $32 calls for roughly $0.30.

I’m also buying the $AG 7/18 $7 calls for roughly $0.18.

The First Majestic calls will give us more time and plenty of juice. This is one of the most direct leveraged vehicles for betting on silver.

Sorry, there are no charts for this one. We wanted to get it out fast. We’ll send a more detailed note later.