To The Moon

$GLD 20260331 455.0 PUT$ The real reason why Gold and Silver fell at US market opening yesterday was Comex suddenly in reased the margin requirements for Gold and Silver by 20% and 30% respectively at 5am ET.  Sold the put at 455 which is the 50D SMA level. 

$SLV 20260331 90.0 CALL$ Selling a covered call at 90. For SLV to reach 90, silver will have to be around 98/oz.  If it retrace to this level, happy to take back my capital and ride out the bull run. If not, good income as IV percentile is now at 98%

$MIU.HK 20261230 28.00 CALL$ Bought the leaps call as PEGI ratio for Xiaomi is below 1.  The intrinsic value of the call is 28+9.9=37.9 so I am paying about $2.4 of extrinsic value for a 10 month leaps call

$TCH.HK 20260330 480.00 PUT$ Thinking of buying leaps call for tencent but the current iv percentile is too high so decided to sell cash secured put at 18% delta.

$INDA 20260320 54.0 CALL$ Selling covered call at 29% delta

$SLV 20270115 55.0 CALL$ Since 9 Feb, Comex silver vault has lost over 12.6M oz of silver and it has dropped from 101.3M oz to 88.7M oz (as at 18 Feb). The current registered to delivery silver is 3.21 and the first notice for the physical delivery in Mar is on 27 Feb. Paper speculators typically roll their contracts or close out before that. I expect high volatility in the week starting 23 Feb when Shanghai Gold exchange reopen after the CNY holidays.

$SLV 20270115 55.5 CALL$ Bought this call as Shanghai Gold exchange closed today at around USD 81/oz (6.5%) higher than current comex price. In addition, 5Moz of silver was drained from Comex vaults on Wednesday 11 Feb bringing their registered stock to about 93Moz compared to the 350Moz of delivery order for Mar 2026. I believe silver will surge after CNY holidays 

$SLV 20260220 84.5 CALL$ Comex registered silver inventory has dropped below 100Moz on 10 Feb with over 3M oz leaving it's vault on 1 day. Their open contracts accounts for 340Moz so the ratio is about 3.5.  Without the Chinese market to act as a counterweight, I think silver price will be pushed down aggressively to flush out investors without deep pockets. After CNY holidays, I expect silver to rebound strongly as the physical supply is very tight.