SLW – Silver Wheaton (Last:18.97)

We hold 800 shares with an adjusted cost basis of 12.95.  Our last covered write expired in May, but we’ll start using the strategy again if and when SLW consolidates above $20. In the meantime, SLW would need to push above 20.46 to hold the pull of gravity at bay. Otherwise, the stock looks vulnerable to a shakeout beneath late May’s 17.00 low.