With just a little more oomph, Silver Wheaton will create its first bullish impulse leg  in more than six weeks on the daily chart. To be more precise, it will take a stab above a 37.72 peak recorded May 10 on the way down to do the trick.  That would make for clear sailing to 41.805, and thence open a path to its ‘D’ sibling at 51.18.  We hold 300 shares @ 42.01 against three June 40 puts with a 4.00 basis.  Continue to offer three June 40 calls short for 3.10. This would lock us into a risk-free “conversion” while recouping a substantial piece of a currently unrealized loss of around $1800.