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Hawk’s Nest

Precious Metals Name with Strong Chart Sees Bullish Call Buyer

by | Nov 23, 2022

Wheaton Precious Metals (WPM) buyer of 1000 Jan 2024 $38 calls $7.20 offers after seeing the Jan 2024 $40 calls bought in size earlier this week and recent accumulation continues in the metals name as gold and silver start to trend higher since early November. WPM is forming a big cup and handle look with YTD VWAP resistance at 39 trying to be cleared this week and potential for upside into the 42.50 level which is an untested VPOC from early this year. The $17B silver miner It produces over 26 million ounces and sells over 29 million ounces of silver mined by other companies as a by-product of their main operations.