Along this channel, SLV can find itself at 22-26 by Jan 2021 option expiration date. Those call spreads are at $032 now. I did 20-25s at $0.51. At the 22 lower channel line, that's still at 4:1 play. Of course, options trading is risky and not appropriate for everyone. But for me, a good time to continue adding to the 2021 position in light of my earlier post.
Comment:
One reason I was a little eager to buy some options here is this chart. If you observe the BBW indicator, it is a measurement of volatility. The daily chart shows it to be extremely low. Several weeks ago, the Jan 2021 20-25 option spread was trading at $0.70 or so at 16.37. This morning, got it for nearly 20 cents less, same SLV price.