About the time that spot silver was smacked lower by the action in the futures markets, some punter placed a rather hefty bet on a near term 'out-of-the-money' May 18 calls on AGQ, the ultra silver long ETF.
It was trading around 25.50 at the time.
It *could* be a hedge on some silver short, but it is a rather hefty one given the strike and the timeframe.
Of course this is a pittance compared to the bets being made in the barely regulated and highly opaque derivatives markets.
