Silver: Record Overbought, Volatility at Extremes
Parabolic
Silver trends have become steeper and stepper.
Source: LSEG Workspace
Divergence
Early negative RSI divergence is emerging, worth watching closely. The last time we saw similar RSI divergences was just ahead of the mid-October sell-off.
Source: LSEG Workspace
Again
Silver weekly RSI (86!) at record highs, right at mid October "panic" levels.
Source: LSEG Workspace
Impressive
Silver’s monthly RSI is at 88, record highs, at least based on our historical price data.
Source: LSEG Workspace
Extreme
Silver volatility is back at extreme levels. These are not sustainable, and any pause or downtick in the underlying is likely to trigger volatility reset as traders monetize upside calls, risking renewed pressure on spot.
Source: LSEG Workspace
Silver options mania
Silver 3M call skew 100%tile, put skew 1%tile. Upside panic is extreme.
Source: Nomura
You are fired
Good luck explaining to the boss why you missed one of the most spectacular silver squeezes, especially when your job is to trade silver. We’re still waiting for the full update on silver speculators, but the latest data (as of Dec 4) suggests they clearly missed the squeeze.
