Silver prices have been falling in the last month and the iShares Silver Trust (ETF) (NYSE:SLV) has fallen 25% since Jan 11th, but is silver now due for a correction?

Since last Friday the SLV has managed to inch back almost 3%, which is why we are interested and thinking about the shiny metal ETF.

Friday could have been a key reversal in Silver prices, for the day silver closed at $15.078 up 25 cents or 1.7%. Remember that a key reversal occurs when a market breaks to a new low for the move, but closes higher that day, then the next day rises above the previous day's close. Merely stating the definition gives us an answer, not by the Comex closes, but by the aftermarket.

This week silver has found its way back to the mid to low $15 range, thus what better way to play the entry point than with the SLV.  We turn to Benzinga.com with a creative way to bank coin on the SLV.

Benzinga.com - Silver Implied Volatility Looks Attractive
Silver Implied Volatility (NYSE: SLV) has popped up to 40% during the course of the last couple of weeks.

This very high level and priced in fear factor is definitely creating an opportunity for a strangle.

The 17-13 March Strangle, which expires in 39 days, is trading around 30 cents. Although the market could be in for a bumpy ride, this level of volatility should compensate you for the potential ups and downs.
 

iShares Silver Trust (ETF) (NYSE:SLV) is a grantor trust. The purpose of the Trust is to own silver transferred to the Trust in exchange for shares issued by the Trust. Each iShare represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist primarily of silver held by the custodian on behalf of the Trust. The objective of the Trust is for the value of the iShares to reflect, at any given time, the price of silver owned by the Trust at that time, less the Trust’s expenses and liabilities