Silver (SLV) has been on a monster run over the past few weeks, but is reaching overbought levels on a 14 day RSI basis that have coincided with significant tops in the past. Once SLV begins to drop, the profit taking could be the driver for a sharp downmove.
Consider taking a long put position out in June to position for a counter trend pullback with defined risk.
TRADE IDEA
Buy SLV June 17.50 puts @ 1.00 to open
These expire 6/17/16
