|Over the weekend, silver’s May open interest stood at 49,418 with only 5 trading days left to entice longs to roll their contracts to July.
The cartel threw a barrage of media/blogger top calling shills, 2 margin hikes, and the kitchen sink at silver this week, as is their standard modus operandi in the week proceeding silver’s first notice day. (Much nicer for The Morgue’s bottom line to entice longs to roll than it is to have to bribe them with 80% over spot offers to accept cash during the actual delivery month!)
So, what is silver’s open interest as of Thursday, with only 1 day remaining to entice longs to roll?
Somewhere in NYC, Mr. Dimon is on the phone, and Blythe is going “Oh sh*#!”
From CME Group:
Daily Settlements for Silver Futures (FINAL)Trade Date: 04/28/2011
May Silver Open Interest at 40,365!
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