Silver has been on a surge so far this month, rising 20.54% from the beginning of May. This previous friday an option order totalling $2.63 Mil came in for SLV targeting the $28 strike expiring on 5/22. The problem with this order is it is way too enormous for the ticker causing the market makers (dealers) major issues if price continues any higher. The plan for this trade is to hedge (go against) the original trade, taking the ITM $29 Puts for 5/22. The price expectations for SLV coming into the 5/22 expiration are $30.13 to the upside and $27.47 to the downside. Liquidity zones will lay at both the expected moves. The $29/28 strike has a huge Call wall forcing the dealers to sell at that price.
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Strength hit the markets today at open resulting in SLV to be slightly green. Trading plan is still valid.
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Strong close at the end of the day signaling more downside to come. Calls got loaded even more a the $28 strike.
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If we don't get the flush by euro close we are closing the position. GG to the market makers paying out millions.
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GG great flush to end the expiration. Take profit was market close
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