A seller with a ton of supply evidently sat on Silver Wheaton yesterday, capping the stock even as Silver futures went bonkers.  Assuming bulls prevail, we can look for the SLW to reach 28.61, a Hidden Pivot, over the near term.  We hold 800 shares with a 12.95 cost basis, and I am once again going to suggest doing a covered write if and when the stock approaches the target. Short eight November 29 calls for around 1.55-1.60, stopping yourself out if SLW touches 28.81. The best way to get a fair price for the calls is to monitor the option bid/asked spread when SLW gets within 25 or so cents of the target.  By the time it finally gets there, you’ll know the market for November 29 calls well enough to offer them advantageously. I’ve included a snapshot of an option calculator that I used to approximate a fair price.  The 43.6 volatility — the heart of the solution — was interpolated from TradeStation data. _______ UPDATE (3:10 p.m. EDT): In the chat room a moment ago, I recommended buying four Nov 27 puts for 1.72 against our long position in the stock. (Note: The order was filled about 20 minutes later.)