Shares of iShares Silver Trust (SLV) are down .34 to 19.16 today.? SLV is at the low end of the 52 week range.
Today paper traded 48500 SLV Jan 2015 27/38 calls spreads for .36.? ADV is 73770 contracts.? The OI is 8100 and 53006 contracts.
The volume traded in one block.? The Sell side (38?s) look closing and the buy side (27?s) look opening.? The trader looks like they are reestablishing a long position at a lower price.? There is a similar roll on the Jan 2015 30/40 strikes.
30-day implied volatility is 26%.? ?10-day implied volatility is 22%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
The iShares Silver Trust (the Trust) owns silver transferred to the Trust in exchange for shares issued by the Trust (Shares). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust.