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J. Johnson’s Latest – The Silver Options Board Is In Play!
August 20, 2019

Great and Wonderful Turnaround Tuesday Folks,    

      So it looks like, at this early stage in the morning, that there was only a 2 day (Friday/Monday) pullback in precious metals with green showing up on the monitors with Gold leading at $1,516.70, up $5.10 after being pushed down to $1,503 with the high close by at $1,518.80. Silver is trading in the positive as well and with another change upcoming most likely by tomorrow as the Open Interest in December Silver is about to surpass September in rather early fashion (before the options expiration) with September Silver now at $17.00, up 6 cents and close by it’s high at $17.03 with the low just 1 penny above yesterday’s low at $17.83. The US Dollar has remained Steady Eddie during this change up with the trade at 98.27, up 4.9 points and right close to the high at 98.30 with the low close by at 98.165. All of this activity occurred before 5 am pst, the Comex Open, and London’s EFP closing.    


      We have green lights in all emerging currency markets that we watch with the Venezuelan Bolivar showing Gold trading at 15,148.04 Bolivar showing a 123.84 gain in value with Silver adding 1.698 Bolivar with the price at 169.788. Argentina’s Peso now has Gold valued at 83,179.99 adding 695.07 A-Pesos with Silver at 932.327 proving an additional 9.50 A-Pesos being added to the price as the trade heads to and above the 1,000 Peso mark again. Over in Turkey, Gold is now at 8,677.64 proving the addition of 254.62 in T-Lira value with Silver now at 97.2593, it too adding 3.0324 T-Lira’s.   

      August Silvers Deliveries are still stuck at 2 fully paid for contracts, as we observed during yesterday’s trade a Volume of 1. We think this wound up being a spread trade that turned into a delivery as we observe this morning Zero Volume, but those trades in parenthesis are still there showing a bunch of numbers with no additional activity. It appears that yesterday was nothing but another attempt by the shorts to scare out a few longs which failed, with the Overall Open Interest now at 230,789 proving the addition and failure of 3,426 more shorts being added to the game that now needs to be extracted, and by the end of the month too!