#silver : utilizing SKEW

Theoretically, a naked Put with a certain delta can be replaced by the same delta covered Call. Unlike SP500 selling Calls is more profitable in silver. Sometime Premium in Calls is 2-3x of that in Puts. Yesterday I converted seven contracts to utilize this difference:

Exec Time	Spread	Side	Qty	Pos Effect	Symbol	Exp	Strike	Type	Price	Net Price	Order Type
8/1/2018 13:04	SINGLE	BUY	7	TO OPEN	SLV	17-Jan-20	10	PUT	0.02	0.02	LMT
8/1/2018 13:02	STOCK	BUY	700	TO OPEN	SLV			ETF	14.51	14.51	LMT
8/1/2018 13:01	SINGLE	SELL	-7	TO OPEN	SLV	17-Jan-20	16	CALL	1.03	1.03	LMT
8/1/2018 12:59	SINGLE	BUY	7	TO CLOSE	SLV	18-Jan-19	16	PUT	1.61	1.61	LMT

Breakeven for this tranch is @13.90 now; max return is 100% on risk.