Looking at the iShares Silver Trust (SLV, quote) ETF from the viewpoint of a technical standpoint the SLV is testing its previous high of $34.05 as bullish momentum grows and possibly for the next few days.
Strong Relative Strength (RSI) along with a rising 20 day moving average is setting up the chart for a nice trade.
Bottom Line:
Consider the following option position in the iShares Silver Trust. Buy 5 NOV 12 33.5 Call Options and Sell 5 NOV 12 34.50 Call Options for $0.48.
Breakeven – $33.97
Max Loss – $235
Maxx Profit – $265
Remember to check with your broker as trading options or stocks pose risk.
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