We’re long the September 10-June 10 calendar spread four times for a 0.10 CREDIT,  and we also hold four July 12.50 calls bought more recently for 0.30. Our intention was to spread off the latter, so let’s try it today by offering four June 12.50 calls for 0.20, day order.  The spread could widen to as much as 1.00 at expiration, implying that our risk:reward would approach 1:10.  Would you lay 10:1 that Silver Wheaton won’t rally another 1.60 over the next two weeks?  We’ll have the other side of that bet if we get the short sale off. (Note: As of yesterday’s close, the stock looked like it could conceivably pop to 11.56 before the week ends.) _______ UPDATE (noon):  Silver Wheaton has come down only moderately today even though silver has been hit hard. The slippage in the stock was sufficient, however, to all but kill the June 12.50 calls we were trying to short. Leave the order in next week nonetheless, since the two weeks that remain till June expiration could produce a death rattle.