During Fridays trading session there was a dip in silver prices and also in Silver Wheaton’s stock price so we decided to take the plunge and buy some Call Options which are the September 2010 series, with a strike price of $21.00 and we paid $1.30 per contract for them. The last trade finished at $1.36 per contract.

Taking a quick look at the above chart we can see that the technical indicators have dropped considerably from being overbought to being oversold and are now heading north again. The chart also shows where we bought and sold Call Options previously, so heres hoping we get the same result.

We had trailed our intentions when we showed this chart of SLW recently and we did place an order which, although close, was not filled as prices moved up quickly, so we waited until Friday and took advantage of the dip in prices.

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 $18.89.

The Company has a market capitalization of $6.47 billion, with 342.54 million shares outstanding, a 52 week trading range of $7.12 to $21.58 with an average volume of 5-6 million shares traded, although spikes in trading have seen 14 million shares change hands.

Have a good weekend.

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The latest trade from our options team was slightly more sophisticated in that we shorted a PUT as follows:

On Friday 7th May our premium options trading service OPTIONTRADER opened a speculative short term trade on GLD Puts, signalling to short sell the $105 May-10 Puts series at $0.09.

On Tuesday the 11th May we bought back the puts for just $0.05, making a 44.44% profit in just 4 days.

Recently our premium options trading service OPTIONTRADER has been putting in a great performance, the last 16 trades with an average gain of 42.73% per trade, in an average of just under 38 days per trade. Click here to sign up or find out more.

Silver-prices.net have been rather fortunate to close both the $15.00 and the $16.00 options trade on Silver Wheaton Corporation, with both returning a little over 100% profit.

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