SLW – Silver Wheaton (Last:7.62)

We bought four September 10 calls yesterday for 0.65 apiece. Sit with them for now, since we’ll need a strong rally to allow us to short something against them for a sum that would eliminate our risk. Immediate prospects for this appeared to dim at day’s end when the stock created a bearish impulse leg on the lesser charts, dipping beneath an April 23 low by a few cents.