On the day, 24,827 SLV July 19.5 calls have been bought on the offer.?
iShares Silver Trust, trading 15.61 (down .15) with an IV30 of 23.82 and an HV10 of 18.53, is seeing bullish call action in July.? Traders are buying up the July 19.5 calls for .33 via autoexecution.?? On the day, 24,827 of these calls have been bought almost all of them on the offer.? Based on open interest this is an opening trade.? The other strike du-jour also opening was the purchase of the March 16.5 calls paying up to .40, another 22,500 of these have traded on the day.
The July trade is long at more than 20% out of the money and relies on the SLV moving above 19.83 between now and July expiration.? This is a tall task and smells a bit of a newsletter trade given the volume.
These trades are aggressively bullish volatitly and the underlying in SLV.