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Re: Silver short squeeze [Re: cfowler] #7165306
02/01/21 04:46 PM
02/01/21 04:46 PM
Joined: Apr 2014
Posts: 7,081
MO
cfowler Online content OP
trapper
cfowler  Online Content OP
trapper

Joined: Apr 2014
Posts: 7,081
MO
Price above spot is $10 currently for eagles.


I trap for fun. I skin 'em for the money!
Grinners For Life-Lifetime Member, MO Chapter, Den #1
~You Grin, You're In~
Re: Silver short squeeze [Re: Snowpa] #7165308
02/01/21 04:53 PM
02/01/21 04:53 PM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,129
McGrath, AK
Originally Posted by Snowpa
I will proceed with caution these guys are pro's


X2 and a lot more moving parts than the GME situation


Mean As Nails
Re: Silver short squeeze [Re: cfowler] #7165328
02/01/21 05:37 PM
02/01/21 05:37 PM
Joined: Feb 2013
Posts: 213
Virginia
T
Turkeyeggsaver Offline
trapper
Turkeyeggsaver  Offline
trapper
T

Joined: Feb 2013
Posts: 213
Virginia
I’ve been trading stocks for 35 years and options for 20 years. I bought AG, SLV and AGQ on Friday and sold Feb. covered calls out of the money on all 3 positions. I bought March calls in AG and SLV today. With the crazy and uncertain times we are in now, I wanted to own some silver plays. White 17, how big is the short interest in silver? I heard it was about 170 days. If this is true the shorts are playing with Fire. I’ve always thought the shorts are some of the most sophisticated investors out there but they get burnt too. TSLA and GME are proof of it. If silver closes above $35 I say the shorts will panic. I think some panicked today. IMO, it won’t take long to know how this is going to play out. Silver will attract the speculative and conservative investor world wide. Wishing you the best of good buys and tight chains.

Re: Silver short squeeze [Re: cfowler] #7165366
02/01/21 06:36 PM
02/01/21 06:36 PM
Joined: May 2016
Posts: 3,491
Southern Illinois
F
Foxpaw Offline
trapper
Foxpaw  Offline
trapper
F

Joined: May 2016
Posts: 3,491
Southern Illinois
I would say the easy money made last week may buy some an education if they think they can control the long side of silver. While there may be a lot of little guys buying at the sound of the trumpet, but when 1st notice day comes around they will be acting by them selves and not as a group.Most likely they will bail and not take the chance with getting notice and have to retender, that gets expensive. Or they could just pretend they are still King, at least till the truck backs up to their door and asks where do you want this silver?

https://www.cftc.gov/dea/options/other_lof.htm



SILVER - COMMODITY EXCHANGE INC. Code-084691
Disaggregated Commitments of Traders - Options and Futures Combined, January 26, 2021
-------------------------------------------------------------------------------------------------------------------------------------------------------------
: : Reportable Positions : Nonreportable
: : Producer/Merchant/ : : : : Positions
: Open : Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Interest : Long : Short : Long : Short :Spreading : Long : Short :Spreading : Long : Short :Spreading : Long : Short
-------------------------------------------------------------------------------------------------------------------------------------------------------------
: :(CONTRACTS OF 5,000 TROY OUNCES) :
: : Positions :
All : 190,750: 8,354 61,104 30,448 52,090 8,859 67,430 23,110 4,066 17,617 7,375 23,347: 30,628 10,799
Old : 190,750: 8,354 61,104 30,448 52,090 8,859 67,430 23,110 4,066 17,617 7,375 23,347: 30,628 10,799
Other: 0: 0 0 0 0 0 0 0 0 0 0 0: 0 0
: : :
: : Changes in Commitments from: January 19, 2021 :
: -2,937: 143 2,074 -116 653 -376 306 -2,521 901 259 744 -4,155: 101 -257
: : :
: : Percent of Open Interest Represented by Each Category of Trader :
All : 100.0: 4.4 32.0 16.0 27.3 4.6 35.4 12.1 2.1 9.2 3.9 12.2: 16.1 5.7
Old : 100.0: 4.4 32.0 16.0 27.3 4.6 35.4 12.1 2.1 9.2 3.9 12.2: 16.1 5.7
Other: 100.0: 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0: 0.0 0.0
: : :
: : Number of Traders in Each Category :
All : 222: 11 25 16 22 22 56 12 29 49 31 37:
Old : 222: 11 25 16 22 22 56 12 29 49 31 37:
Other: 0: 0 0 0 0 0 0 0 0 0 0 0:
:-------------------------------------------------------------------------------------------------------------------------------------------------------
: Percent of Open Interest Held by the Indicated Number of the Largest Traders
: By Gross Position By Net Position
: 4 or Less Traders 8 or Less Traders 4 or Less Traders 8 or Less Traders
: Long: Short Long Short: Long Short Long Short
:----------------------------------------------------------------------------------------------------
All : 19.0 32.5 28.1 42.9 18.9 30.6 27.5 40.5
Old : 19.0 32.5 28.1 42.9 18.9 30.6 27.5 40.5
Other: 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Re: Silver short squeeze [Re: cfowler] #7165409
02/01/21 07:36 PM
02/01/21 07:36 PM
Joined: Apr 2014
Posts: 7,081
MO
cfowler Online content OP
trapper
cfowler  Online Content OP
trapper

Joined: Apr 2014
Posts: 7,081
MO
I’m waiting to see if we can break above $30 spot price. If there’s any steam in the engine that barrier will be broken. If we hit $35, things will get more interesting.

As White 17 said, lot of moving parts. The big names have been manipulating the silver market for years. JPM leads in that regard, and has a large position in the comex. Lot of moving parts can sometimes create problems.


I trap for fun. I skin 'em for the money!
Grinners For Life-Lifetime Member, MO Chapter, Den #1
~You Grin, You're In~
Re: Silver short squeeze [Re: Michigander] #7165432
02/01/21 07:51 PM
02/01/21 07:51 PM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
Originally Posted by Michigander
Fake hype. Manistream media trying to push up silver to help their hedge fund buddies that got beat down on GME.


Nothing could be further from reality


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Silver short squeeze [Re: Turkeyeggsaver] #7165546
02/01/21 09:14 PM
02/01/21 09:14 PM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,129
McGrath, AK
Originally Posted by Turkeyeggsaver
I’ve been trading stocks for 35 years and options for 20 years. I bought AG, SLV and AGQ on Friday and sold Feb. covered calls out of the money on all 3 positions. I bought March calls in AG and SLV today. With the crazy and uncertain times we are in now, I wanted to own some silver plays. White 17, how big is the short interest in silver? I heard it was about 170 days. If this is true the shorts are playing with Fire. I’ve always thought the shorts are some of the most sophisticated investors out there but they get burnt too. TSLA and GME are proof of it. If silver closes above $35 I say the shorts will panic. I think some panicked today. IMO, it won’t take long to know how this is going to play out. Silver will attract the speculative and conservative investor world wide. Wishing you the best of good buys and tight chains.



Steven or some of the other guys would be a far better source on PM's than I am. BUT........... as you know short interest is reported biweekly. The last numbers I saw were on January 15th 2021. On that date SLV was reporting 24 million shares short. That really isn't much in the overall scheme of things. Less than one day's trading under normal volume. Much less on days like today.

Also, I remember seeing a graph of total short interest at around 53%. The thing is.............it is normal to see fairly substantial short futures interest, but almost all of it is from the producers locking in forward sales of their production.

I think the Reddit crowd might be biting off more than they can chew in this instance. AG is a world-wide market where GME was not.

Not only that but two weeks ago the market-ready physical silver was three times as much as needed to cover the futures at that point. The millennials may not realize that the biggest source of silver is jewellery and flatware that can enter the market in a heartbeat.

It might be entertaining to watch them try to do what the Hunt brothers couldn't. That's another thing. Most of them aren't old enough to recall the Hunts !

I have been trading stocks since 1961 and options since 1989.

I don't want any part of this trade.


Mean As Nails
Re: Silver short squeeze [Re: cfowler] #7165567
02/01/21 09:25 PM
02/01/21 09:25 PM
Joined: Dec 2008
Posts: 1,745
eastern washinghton
7
70sdiver Offline
trapper
70sdiver  Offline
trapper
7

Joined: Dec 2008
Posts: 1,745
eastern washinghton
You absolutely right not even thinking about a silver play at this point.



Re: Silver short squeeze [Re: cfowler] #7165643
02/01/21 10:22 PM
02/01/21 10:22 PM
Joined: Feb 2008
Posts: 277
NE Indiana
L
Larry Hall Offline
trapper
Larry Hall  Offline
trapper
L

Joined: Feb 2008
Posts: 277
NE Indiana
I think buying in now might be playing with fire. I’m thinking about taking some profit on paper silver and miners and sitting on a bit of cash while this plays out. I’ve got a long term core position I’m holding tight, but tofar, to fast comes to mind right here. My .02 anyway.

Re: Silver short squeeze [Re: cfowler] #7165777
02/01/21 11:49 PM
02/01/21 11:49 PM
Joined: Sep 2015
Posts: 181
Georgia
W
Wiz Offline
trapper
Wiz  Offline
trapper
W

Joined: Sep 2015
Posts: 181
Georgia
It will be interesting to see if this pans out they way the online experts are trying to report. I wonder how many new traders blew up their accounts last week on GME, AMC, and KOSS and will be out of the game. I also wonder how many of those blind squirrels played and won by luck alone only to get sucked into their greed on the silver train this week. That might change the volume quite a bit from what its been over the past 9 months or so.

Re: Silver short squeeze [Re: cfowler] #7165837
02/02/21 01:28 AM
02/02/21 01:28 AM
Joined: Jul 2009
Posts: 2,459
Oregon
H
H2ORat Offline
trapper
H2ORat  Offline
trapper
H

Joined: Jul 2009
Posts: 2,459
Oregon
My only play on silver will be do decide whether or not to sell the 50 or so ounces that I bought when it dropped below 5$ back in the 80s/90s

Re: Silver short squeeze [Re: cfowler] #7165839
02/02/21 01:30 AM
02/02/21 01:30 AM
Joined: Jan 2014
Posts: 20,914
North East Kansas
Marty Offline
trapper
Marty  Offline
trapper

Joined: Jan 2014
Posts: 20,914
North East Kansas
its all rigged......a few players gonna win no matter what.


E
'Honey Badger Militia'
Sleep, the anti woke adote.
Re: Silver short squeeze [Re: white17] #7165943
02/02/21 08:01 AM
02/02/21 08:01 AM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
Originally Posted by white17
Originally Posted by Turkeyeggsaver
I’ve been trading stocks for 35 years and options for 20 years. I bought AG, SLV and AGQ on Friday and sold Feb. covered calls out of the money on all 3 positions. I bought March calls in AG and SLV today. With the crazy and uncertain times we are in now, I wanted to own some silver plays. White 17, how big is the short interest in silver? I heard it was about 170 days. If this is true the shorts are playing with Fire. I’ve always thought the shorts are some of the most sophisticated investors out there but they get burnt too. TSLA and GME are proof of it. If silver closes above $35 I say the shorts will panic. I think some panicked today. IMO, it won’t take long to know how this is going to play out. Silver will attract the speculative and conservative investor world wide. Wishing you the best of good buys and tight chains.



Steven or some of the other guys would be a far better source on PM's than I am. BUT........... as you know short interest is reported biweekly. The last numbers I saw were on January 15th 2021. On that date SLV was reporting 24 million shares short. That really isn't much in the overall scheme of things. Less than one day's trading under normal volume. Much less on days like today.

Also, I remember seeing a graph of total short interest at around 53%. The thing is.............it is normal to see fairly substantial short futures interest, but almost all of it is from the producers locking in forward sales of their production.

I think the Reddit crowd might be biting off more than they can chew in this instance. AG is a world-wide market where GME was not.

Not only that but two weeks ago the market-ready physical silver was three times as much as needed to cover the futures at that point. The millennials may not realize that the biggest source of silver is jewellery and flatware that can enter the market in a heartbeat.

It might be entertaining to watch them try to do what the Hunt brothers couldn't. That's another thing. Most of them aren't old enough to recall the Hunts !

I have been trading stocks since 1961 and options since 1989.

I don't want any part of this trade.



If anyone wants to take part in this trade the best way is to go out and buy a ten ounce bar and help dry up the physical. It's a can't lose proposition, silver goes down you still have your physical and eventually it will go back up to these levels. Only loss would be opportunity from that capital.

The biggest short in silver is the futures market, there are multiples more paper silver ounces traded in a year than production. If the WSB crowd could drive up the physical supply it could have a major impact on prices. Problem as i see it is there is a massive amount of silver out there whether it be bullion, 90 percent coinage or .925 sterling.

It's predicted that it would take silver to $500 to break JP Morgan of their silver shorts. Is that impossible? I say not only is it possible but probable. Can't say for sure if this is the run that will do it but eventually the FED will print too much money.

As it stands this morning silver is below the opening bell on Sunday. If the WSB crowd wants to tackle this they are going to need a big set of balls. Never underestimate the power of the bullion banks and central banks to suppress the price of silver. This squeeze will take some time.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Silver short squeeze [Re: cfowler] #7165955
02/02/21 08:21 AM
02/02/21 08:21 AM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
Another thing that makes it harder to squeeze silver is it doesn't take long for the CME to react to rising prices. They have already raised margin requirements by 18 percent to purchase futures.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Silver short squeeze [Re: cfowler] #7166086
02/02/21 10:53 AM
02/02/21 10:53 AM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
That little run up didn't last long lol.

Takes big cajones to be long in the pm game


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Silver short squeeze [Re: cfowler] #7166099
02/02/21 11:02 AM
02/02/21 11:02 AM
Joined: May 2016
Posts: 3,491
Southern Illinois
F
Foxpaw Offline
trapper
Foxpaw  Offline
trapper
F

Joined: May 2016
Posts: 3,491
Southern Illinois
They added 5694 contracts yesterday, so the shorts must not have been too scared, yet anyway. Don't squeeze the Charmin !

https://www.cmegroup.com/market-data/volume-open-interest/metals-volume.html

Re: Silver short squeeze [Re: cfowler] #7166118
02/02/21 11:17 AM
02/02/21 11:17 AM
Joined: May 2012
Posts: 5,895
michigan,USA
S
seniortrap Offline
trapper
seniortrap  Offline
trapper
S

Joined: May 2012
Posts: 5,895
michigan,USA
I always ask people who swear to buy silver and gold for your portfolio, with that gold, how would you purchase groceries. Silver in American coin would work. Still its only face value then.

"Oh yes, you would have a deep portfolio, but starving to death"!

Sorry I digress.


Vietnam--1967 46th. Const./Combat Engineers

"Chaotic action is preferable to orderly inaction."
"After the first shot, all plans go out the window!"
Re: Silver short squeeze [Re: seniortrap] #7166123
02/02/21 11:22 AM
02/02/21 11:22 AM
Joined: Nov 2017
Posts: 11,194
Maine, Aroostook
Posco Offline
trapper
Posco  Offline
trapper

Joined: Nov 2017
Posts: 11,194
Maine, Aroostook
Originally Posted by seniortrap
I always ask people who swear to buy silver and gold for your portfolio, with that gold, how would you purchase groceries. Silver in American coin would work. Still its only face value then.

"Oh yes, you would have a deep portfolio, but starving to death"!

Sorry I digress.


I'm guessing you have something tangible after the smoke clears. That's assuming you survive long enough.

Re: Silver short squeeze [Re: seniortrap] #7166127
02/02/21 11:23 AM
02/02/21 11:23 AM
Joined: Oct 2011
Posts: 2,786
Western Shore Delaware
SJA Offline
trapper
SJA  Offline
trapper

Joined: Oct 2011
Posts: 2,786
Western Shore Delaware
Originally Posted by seniortrap
I always ask people who swear to buy silver and gold for your portfolio, with that gold, how would you purchase groceries. Silver in American coin would work. Still its only face value then.

"Oh yes, you would have a deep portfolio, but starving to death"!

Sorry I digress.



I'll buy all the silver minted coins you want to sell me at face value right now!


"Humans are the hardest people to get along with."
Dr. Phillip Snow
Re: Silver short squeeze [Re: cfowler] #7166129
02/02/21 11:24 AM
02/02/21 11:24 AM
Joined: May 2012
Posts: 5,895
michigan,USA
S
seniortrap Offline
trapper
seniortrap  Offline
trapper
S

Joined: May 2012
Posts: 5,895
michigan,USA
Maybe you will providing you live long enough past the smoke!


Vietnam--1967 46th. Const./Combat Engineers

"Chaotic action is preferable to orderly inaction."
"After the first shot, all plans go out the window!"
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