2/4 But the stress is still real. The chart below recalculates SLV's "fair value" at 4 PM ET using spot prices to eliminate the timing lag. When we do that, the "timing" 19% discount vanishes, revealing the real discount: -1.7%. @dampedspring @EricBalchunas @SantiagoAuFund https://t.co/ptOcMNoJb2