"A Trader", thats so funny to me. Bet a million, ten million whatever, its free money they get from the fed, its like me giving money to my kids at skee ball, I don't really expect them to bring home a valuable prize. This is more of the same BS. This isn't a legitimate bet just another way for Blythe and the Coven to scare sheeple, and it works on the weak hands. I would not worry about silver based on the options market, this isn't like shorting CSCO's earnings for the next quarter. The Chinese, Japanese and Indians will buy any dip. The only way they are going to break Silver is if they co-ordinate an attack with other Central Banks. I don't think the rest of the world is going to play along. Just a hunch.
Bloomberg reports: "A trader’s almost $1 million bet that an exchange-traded fund tracking silver will plunge 37 percent by July was today’s biggest single options trade on U.S. exchanges as futures on the metal reached a 31-year high. The 100,000 options to buy 100 shares each of the iShares Silver Trust (SLV) at $25 by July changed hands at the ask price of about 10 cents and exceeded the open interest of 6,054 outstanding contracts before today, indicating that a buyer of a new bearish position initiated the transaction. The ETF rose to the highest intraday level since trading began five years ago, $40.33, before erasing gains. It fell 0.5 percent to $39.67 at 12:54 p.m. It hasn’t closed below $25 since November."
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