Triple Witch Week, Currency Rollovers, and the Precious Metals Options Board!

Posted at 9:46 AM (CST) by & filed under General Editorial.

Great and Wonderful Monday Morning Folks,

      Gold was higher just a few minutes ago as we watched the usual de-excitement being added to the trade before the Comex Open with Gold now up only 30 cents at $1,481.50 after it hit $1,483.20 with the low not that far away at $1,477.40, making this a tight $5.80 trading range. Silver is leading at present with its trade at $17.075 up 6.3 cents after hitting $17.140 with the low at $16.955. The December US Dollar, which ends today to allow the March contract to lead us to the next disaster in print, is now trading at 97.005, down 16.6 points after dipping to 96.930 with the high up at 97.150. All of this was done before 5 am PST, the Comex open, the London close, and after a weekend of bad press at the campaign gatherings for any lifelong members still running for office.

      In Venezuela, Gold now has a value of 14,796.48 proving a gain of 38.95 Bolivar since Friday morning with Silver at 170.537 showing a 0.050 Bolivar loss. In Argentina, the Peso has Gold valued at 88,508.22 giving those that hold a 145.56 A-Peso gain with Silver at 1,020.35 Peso’s showing a slight drop of 1.61 in value. The Turkish Lira has Gold’s value pegged at 8,666.75 giving the holder a 96.24 T-Lira gain with Silver at 99.8918 Lira, proving a gain of 0.8321 in T-Lira value.

      The December Silver Delivery requests now show a demand count of 611 fully paid for contracts waiting for physicals, or papers that go to London via the EFP’s, or some sort of Algo trick that uses the delivery contract to push the prices lower with one or two pieces of fake delivery demands, proving a reduction of 24 from Friday’s count. Last week’s final day of activity showed 23 contracts traded, closely equaling the drop in demand. This morning’s activity shows a Volume of 12 up on the board with a high/low/last trade at $16.98 proving all these purchases were done at one price with a bid and ask price spread of a penny between $16.995 and $17.005 with quantities that will more than double the Volume posted already. Hello there Mr. Resolute Buyer, is it you that is waiting for 3,055,000 Ounces of real Silver?

      The Total Paper Count called “Open Interest” in Silver now stands at 203,933 Overnighters proving a 503 count drop from Friday morning and again, as the prices moved higher proving the point that without all these additional pieces of paper being added into the mix over the past 4 years, prices would have already been substantially higher.

      Silvers Options Board still has some interesting points to look over. The total count for January’s Options is now at 18,858 purchased Calls as of Friday’s close, showing the overall count increased 4,042 from our last November 11th count. From this total we were able to prove 3,084 more purchases were made, at and below the $18 strike, making this new total 6,609, with 1,588 of these purchases, at and below $17 making that total 1,784 (a big gain over the months’ time). In short, most of the Call Option purchases that were made over the past month, is within a dollar range of the current market price. Is this part of how they stymie the trade?

      February’s Silver overall “Call” count now stands at 10,814 purchases proving a 4,805-count gain. Inside this addition, 2,865 more Calls were purchased at or below the $18 strike making the new overall total 4,276. From this count we were able to prove that an additional 1,112 more Calls were bought at and under the $17 Strike bringing that total to 1,375 purchased Calls. Once again, another huge gain at the current price of the Futures.

     March Silver’s Call Option count gained 4,728, making its new total 25,850. Inside this number we were able to show 1,142 more purchases at and below the $18 Strike with 190 of those, at and below the $17 strike. April’s trade also increased with the overall count now at 2,488, proving an increase of 1,879 overall with 142 of these at and below $18 with 13 of the 142, at and below the $17 Strike Price.

      Also, of note this is the Triple Witch Week. Today we roll out of the currencies, then the debt instruments get milked slowly the rest of the month, with Thursday’s Option expiration for the paper markets, then the settling out the Futures in S&P/Dow/Nasdaq/ and Single Stock Futures. We also have the tariffs being applied to Chinese products and another 100 billion in Repos! Yup every reason in the world to hold Silver and Gold is right here.

     Enjoy the day, and keep the attitudes positive no matter what, and as always …

Stay Strong!

J. Johnson