Using Unusual Options Activity to Identify Opportunities: iShares Silver Trust (SLV)

At SetYourStop, we’ve built our reputation on identifying market opportunities through actionable insights. One of the key tools we use is scanning for unusual options activity. When large institutional players—or “smart money”—make bold bets in the options market, it often reveals expectations about future price movement. By combining this data with technical chart setups, we provide our clients with a clear roadmap to potential opportunities.

Recently, our unusual activity scanner flagged a compelling series of bullish bets on iShares Silver Trust (SLV), a popular ETF tracking the price of silver. Over three consecutive days, we highlighted this activity in our daily reports, using both options data and technical charts to give our clients an edge. Below is a breakdown of the activity and our analysis.

Note: All charts referenced in this email are taken directly from the reports mentioned.

December 3rd: A Major Bullish Bet on SLV

On December 3rd, our Unusual Options Activity Scanner flagged a significant bullish trade in SLV. A large call option purchase stood out—over $1.1 million in premiums for a strike price well above the current spot price. This caught our attention, as such a move often indicates expectations of a substantial price increase.

We immediately featured this in our daily report, pairing the options data with a technical chart setup of SLV. The textbook-basing pattern made this setup even more compelling, which suggested a potential breakout was imminent. In that report, we also included correlated assets like the SIL Silver Miners ETF and PAAS (Pan American Silver), providing other setups poised to break out higher.

December 4th: More Bullish Signals Confirm the Trend

The following day, SLV experienced another wave of bullish options activity, including a notable multi-sweep trade on $29 strike calls expiring in March 2025 and a put sale at the same strike. These trades reinforced the bullish sentiment, signaling both upside potential and confidence in price stability above $29.

In the December 4th Unusual Options Report, we featured SLV’s updated chart, along with key correlated assets like PSLV (Sprott Physical Silver Trust) in the Canadian section of the report. We also included IAU (iShares Gold ETF) after spotting unusual options activity there, and highlighted Wesdome Gold (WDO.TO) as it was positioned for a breakout. These additions provided our clients with a comprehensive, well-rounded perspective on opportunities across the silver and gold markets.

By combining options data with the technical setups on these charts, we offered a clear and actionable view of a developing opportunity.

December 5th: Momentum Builds Further

On December 5th, the bullish momentum in SLV persisted, with another round of unusual options activity—this time focusing on $28-strike calls expiring in June 2025, involving nearly $2 million in premiums. The alignment of these bullish bets with SLV’s technical chart further solidified the case, and we continued to share related chart setups in our daily reports as the data unfolded.

In addition, we highlighted SILJ (Junior Silver Miners ETF) this AM in the Workspace. These showed tight setups with the potential for explosive moves at the open. By consistently presenting actionable data as it emerged, our clients could track the trade in real-time and see how the silver market’s price action aligned with the unusual options data.

Why It Matters

These trades weren’t just random bets—they were high-conviction plays by traders with significant capital at stake. By combining this option data with technical analysis, we identified a clear opportunity in SLV and the broader silver market, providing our clients with actionable insights backed by both data and strategy.

The results? A clearer understanding of how to spot opportunities in real-time using options activity and technical setups.

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At SetYourStop, we provide institutional-level, data-driven research to help our clients make smarter decisions. Our daily reports are packed with unusual options activity, chart setups, and actionable insights to keep you ahead of the market.

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