Insanity move in Silver
Updated
Multiple gap ups outside of the Bollinger Band, mixed with running through multiple longer term and intermediate term Fibonacci levels. Avg short entry at 21.40 looking for a short term top. Not looking to hold short long term, just a trade.
Comment
Short calls worked amazing this morning with the IV drop. The long put spread covered the short end on the IV drop, road the long part on the way up. Overall the puts didnt pay as well as one would hope, but profitable. Short stock +.45 Mostly out of the trade now.
Comment
Looking for re-entry on the put side if IV drops to better levels depending on the backdropComment
Next put target 21.91 at the 1618.
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