Monday, 11 April 2011
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Silver Options Trader Bets $1 Million on Price Drop by July
A trader's almost $1 million bet that an exchange-traded fund tracking silver will decline by July was today's biggest single options trade on U.S. exchanges as futures on the metal reached a 31-year high. The 100,000 puts, or options to sell 100 shares each of theiShares Silver Trust (SLV) at $25 by July, changed hands at the ask price of about 10 cents and exceeded the open interest of 6,054
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