SLW – Silver Wheaton (Last:10.50)

We hold four September 10- June 10 calendar spread for a net credit  of 0.10, a position that cannot lose  and which has the potential to produce a gain of around $500. We are also bidding 0.25 for four July 12.5 calls in order to build more edge into our position across a wider range of prices.  Continue to bid 0.25 for the calls today, but step up to 0.30 on the opening.  The stock looks like it needs to consolidate for at least another day or two before leaping anew. By exceeding a Hidden Pivot resistance yesterday at 10.72 (30m chart, where A=7.07), Silver Wheaton shortened the odds of another bullish thrust.