On May 9th we entered SLV Jun $25C looking for a multi-bagger in six weeks to expiration. The pattern remains the same, ergo the progress has been sluggish, but still positive. SLV Daily SLV Jun 21 $25C The PPI and CPI numbers this week show inflation steady, which does not bode well for a rate cut anytime soon. That Silver and Gold are holding up in the face of no rate cuts is consistent with their bull market thesis. More importantly is the Wave 3 spike to $27.24 on April 24th. That level should get taken out next, paving the way for the run to $30 and points north. Anything that falls short of that scenario puts this trade on Alert for an early exit. For anyone looking to add now, here is a new idea with more time and just as excellent risk:reward parameters: SLV Jul 19th $27C Target (TGT) Reversing back down after a weak rally into the Fib retracement zone is a classic prelude to a fresh impulse wave down, targeting a break below $140. The initial Wave 1 down was $180 --->$155, so $140 is the minimum downside expected from the next leg down, but it could be much lower. TGT Jun 21 $150P These puts were up 93% as of May 2nd, now up 38% which is close if not exceeding a 50% trailing stop exit strategy. The trade still looks good to me: If so disposed, here is a July $150P that adds a little more time for TGT to fall into the Wave 5 target indicated on the chart between $140-135. TGT Jul 19th $150P
