Lee, a prediction: Yer going to make out very well on these options before expiry as Silver is about to do a big cliff dive IMHO. 20 or under at expiration is possible (25-30% chance) although 18 looks like a bit of a stretch (5% perhaps) even if my scenario plays out. In any event, if Silver sees a major tumble in the coming weeks, your puts will make you some hay. Just keep in mind that this is all simply the ramblings of a Crazy Canuck here, lol...