SLV – Short Naked Put

Precious metals have been hammered pretty bad over the past 9 months or so as evidenced by the chart below.


There is certainly an argument to be made about not catching a falling knife.  However, I see some support coming around the 16.80 – 18 level, which also confluences with the 78.6% Fib Retracement of the last significant move up.
Looking to sell some naked puts.  If price rallies or stays at current levels you can pocket the premium.  With a premium of 32c, the BE point is 16.68 (if prices decline, you can own SLV at that price).  The other option is to close out the position.


This entry was posted in Commodities, ETF, Options, Short Put, Silver. Bookmark the permalink.

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