Spot Silver in USD/oz Lost 9% Last Night (49.30-44.72), Bounced Back - Chart

Last night (4/25), Spot Silver in USD/oz hit an intraday high of $49.30 and an intraday low of $44.72 (-9.2%). It has since bounced back to $45.59. SLV's run looked exhausted on the chart and needed downside protection (imho), at least in the short term. Yesterday I saw an interesting SLV put spread that traded in October out-of-the-money. There are a few events coming up that could increase silver volatility: Bernanke's press conference on Wednesday, the debt limit vote and end of QE2. Inflation reads, margin hikes and China FX reserve diversification could also affect silver trading. In the next few days I'll go over SLV in more detail with charts, recent option trades, implied volatility, articles and embedded videos. Watch the price of spot silver live below courtesy of Kitco (refresh browser).

SILVER SPOT USD/OZ (source: Kitco.com)

[Most Recent Quotes from www.kitco.com]

Comments

  1. Silver updates:

    Is It Too Late to Play Silver? (Zacks) http://www.zacks.com/commentary/17631/Is+It+Too+Late+to+Play+Silver%3F+1763100

    Silver Rally Is No Bubble as Price Will Top Record, Coeur CEO Wheeler Says
    http://www.bloomberg.com/news/2011-04-28/silver-rally-is-no-bubble-as-price-will-top-record-coeur-ceo-wheeler-says.html

    ReplyDelete
  2. Careful with this silver volatility. Spot silver plunged to $43.6 tonight. Here is a chart of the move so far. I'll do a new post. http://www.flickr.com/photos/dvolatility/5678062294/

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