Silver Is Flying, But Options Say Slow Down

When gold looks poor

Silver up double the gold surge. Impressive.

Source: LSEG Workspace

Silver/gold

The silver/gold ratio at 5 year highs...

Source: LSEG Workspace

Hotties

Hunger for silver remains huge.

Source: GS

Reaching extremes

Silver weekly RSI at levels seen three times over the past 20 years.

Source: LSEG Workspace

Beyond extreme

Silver monthly RSI at 89! Our screens can't find a more extreme reading.

Source: LSEG Workspace

Silver options mania taking a break

Is "under the hood" options pricing telling us silver has gone ahead of itself? Call put skew has come down notably since the "panic upside grab". Watch silver volatility closely here as it could start to pressure the spot market (just as it did in late October, chart 2).

Source: GS

Source: LSEG Workspace