SLV stock is currently trading at $15.44, up 51 cents on the day. These shares have rallied almost 100% since reaching a 52-week low on Oct. 27 last year (the stock sank to $8.85), and one customer is betting that SLV stock will climb higher than $14, but stay below $19 come January expiration.
Current open interest of the Jan 2010 13 puts is 6,900. The Jan. 2010 14 calls are home to current open interest of 4,000, while current open interest of the Jan. 2010 19 calls is 20,700.
The investor sold the Jan. 2010 13 puts at 80 cents per contract, and bought the Jan. 2010 14-19 call spread for $3.45.