Silver “Spoofed” Below $28 Strike Price With Large Option Position

With less than one day left…

by Chris Marcus of Arcadia Economics

With less than one day left in what some long-time silver veterans are calling the most important COMEX options expiration and delivery period in silver history, the price appears to have been “spoofed” to right under the $28 level.

Of course the significance of the $28 level is tied to the COMEX silver options board, where there is a large call option open interest on the 28-strike that expires this Tuesday.

Traditionally the banks are short the options, which means that if that is indeed the case again this time, they would have to start paying out on those calls if the price rises above the $28 mark by expiration.

For those who have been following the silver market for a while, that’s usually when the silver market sees one of those infamous “spoofs,” that former CFTC commissioner Bart Chilton confirmed in detail in this shocking interview, yet that the current commissioners seemingly remain stunningly oblivious to.

Perhaps how Tuesday’s trading plays out will be the most current barometer of just how tight the banks’ control of the price still is at this point. Because according to past history, you would expect that they’d be throwing the kitchen sink in at this point to keep the price of silver below $28 today (let alone $29 where there’s another large call option position, or $30 – where there’s a really large position).

For a primer of what to expect, see the video below.

In either case, it should be an exciting day of trading in the silver world. Especially just one day before the latest COMEX silver delivery period begins.

To find out more, click to watch the video now!

Click image below to watch the full episode: