Silver (September 2017)
Buy 1 GSIU7 14.00 Put for 0.043 or better. The total risk is $215.00 plus commissions and fees.
US Treasury Secretary Mnuchin has affirmed President Trumps plans for Tax reforms in the works by the end of this year. So far, the Trump administration has claimed that the US Dollar should be weaker yet the action so far supports the dollar. The overbought status of Silver with record speculative positioning may be due for a correction.
We monitor the options position and will attempt to double the premium on the trade.
The minimum tick is 0.001 equivalent to $5.00.
To close the position!
Sell 1 GSIU7 14.00 Put for 0.086 or better. The total dollar value would then be $430.00 less commissions and fees.
The Expiration of the option is August 28th, 2017
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This is a long shot as most options expire worthless. The odds favor the writer or granter of the option. The reason to buy options typically may be for the prescribed risk factor except in the case that an option goes into the money and is exercised. It would then become a futures position requiring margin.
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