Silver Wheaton Corporation Call Options Update 18 March 2010
Wednesday, March 17, 2010 at 05:46PM
Silver Prices in Silver Mining Companies
SLW Chart 18 March 2010.JPG

Just a quick note to update you on the Call Options that we purchased on Silver Wheaton Corporation (SLW) which are the JUNE 2010 series at a strike price of $15.00 and $16.00, for which we paid a price of $2.02 and $1.60 respectively per contract.

As we write these contracts are trading at $2.17 and $1.59 respectively, so having dipped below water after we acquired them, they are now moving in the right direction. Silver Wheaton is up 2.77% today for a gain of $0.44 to $16.31 on the back of silver which is up to $17.47.

The US Dollar has been trying to rally without success however, it is still clinging on, just below the '80' level which in turn is hampering golds move north and so on, as we suggested when we posted an article on the 11th February 2010, entitled: Silver Wheaton Corporation: Buy This Dip, when SLW stood at $14.38, today it stands at $16.31, so its up 13.4% in just over a month.

We are holding on tight to these options as they are now 'in the money' which means that they are both above their respective strike prices and should move, more or less, dollar for dollar if SLW can continue to make progress from this point.

Silver Wheaton Corporation trades on the New York Stock Exchange and the Toronto Stock Exchange under the symbol of SLW and is currently trading at $16.31.

The Company has a market capitalization of $5.57 billion, with 341.28 million shares outstanding, a 52 week trading range of $6.15 to $17.80 with an average volume of 7-8 million shares traded.

Have a good one.

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