Precious Metals Boom: $5k on Calls

Original Reddit post

Author bought far-dated out-of-the-money Sprott Inc (SII) calls betting on a precious metals and ETF boom.

SII — LONG The author bought 10 far-dated August calls on Sprott Inc (SII) at a $135 strike, well out of the money at purchase, betting that an ETF boom combined with a precious metals boom will drive a big boom for this precious metals ETF company. The catalyst is continued strength in precious metals and ETF flows, with the position already up over $7.5k. The main risk is that the strike was well out of the money at purchase, so the trade depends on a large move in the underlying.

Reasoning: ETF boom + precious metals boom = big precious metals ETF company BIG BOOM!!