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SLV trade idea

This is very similar to something I did about 18 months ago. This is going to kind of be a set it and forget it trade. I'll obviously follow the price of SLV but this isn't a short-term trade. I am basically buying an 18/20 bull call spread and financing it buy selling a strangle. I'm very comfortable owning silver at $13, and I'm not worried about my risk to the upside because I would close the trade out should SLV pass the short call at $20. It looks like I can put the trade on for close to break even, which is the goal. Maintenance margin will diminish as time goes on. Looks like initial margin is about $2400. Max return is $2 if SLV is above $20, so max return for a 10 lot would be $2000/2400 = 83%. I think this return is worth the risk so I'm planning on putting this trade on soon.

SLV is essentially in a long-term range here with the majority of the action over the last year between 15.5/18.5. Backing out to a two year chart below it looks like the long uptrending channel is now in a sideways consolidation range. 


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