May Silver Open Interest at 49,418 With Only 5 Days to Go!

April 24, 2011 By 2 Comments
If silver nearing $48 was not enough to ruin Blythe and Dimon’s holiday weekend, CME group reports silver’s May open interest has now jumped up to 49,419, with only 5 days to go before May’s first notice day!
As the cartel prefers to keep OI under 35,000, nearly 50,000 contracts, while not unprecedented, is definitely a MAJOR concern for our banking friends. 

Does this mean that we can expect a take-down attempt this week down to the $40-$42 area in an attempt to induce front-month contract holders to roll? Expect them to pull out all the stops, as we don’t see how The Morgue will be able to stay out of the Morgue if 50,000 contracts stand for May delivery!

From CME Group:
Month Open High Low Last Change Settle Estimated
Volume 		Prior Day
Open Interest
APR 11 – – – – UNCH – – 66
MAY 11 – – – – UNCH – – 49,418

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Comments

  1. Anonymous says:
    April 25, 2011 at 1:30 AM

    $49.80 bitchez! Hope you enjoyed your holiday blythe!

  2. Anonymous says:
    April 25, 2011 at 9:57 AM

    How much $$$ that 49k contracts will be? Bye bye JPMoran…

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