Pete Najarian has spotted unusual options action in the metals space. What does he make of it?
Money has been rotating into precious metals for the past several days now with the price of gold well above the psychologically important $1,700 level.
And if Najarian is interpreting the latest options action correctly, the rotation shows no signs of stopping - at least not in silver.
Looking at the SLV he’s spotted over a quarter million contracts trading with calls outpacing puts at a ratio of 2 to 1.
Also he says the SSRI December 20 calls have been extremely active.
Najarian takes the action to mean – silver and related equities could soon make a sharp move higher.
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