Silver Wheaton is screaming higher in after-hours trading, so we may get a chance to short eight December 15 calls for 0.45 against the eight Dec 12.50 calls that we own for, effectively, 0.15 apiece. Our original cost basis was 0.45, but we were able to reduce that by 0.30 by selling half of the original 16-call position near the top of yesterday’s steep rally. The trade was featured as a Pick of the Day, so I am hopeful that many of you were able to take advantage of what looked, from the get-go, like an easy opportunity. From a Hidden Pivot perspective, the highest blowoff target I can identify for today lies at 11.14, a Hidden Pivot that comes from the lesser charts.
Next Hidden Pivot Seminar: June 5-6
Signup before 6/1 and save $50. Use coupon code 7D5629