How to play further gains in copper using options on this mining stock

The sharp rally in gold and silver can be read as a market referendum on the credibility of paper money. Large, persistent government deficits imply that future financing may rely on a mix of higher taxes, financial repression and — most relevant here — central banks keeping borrowing costs contained. When investors suspect that debt sustainability depends on rates staying below inflation, real yields compress and non-yielding stores of value become more attractive. Excessively easy monetary policy reinforces that logic. If the market believes liquidity will be expanded whenever growth or asset prices falter, the perceived "policy put" also implies a long-run bias toward currency dilution. Even if near-term inflation cools, repeated balance-sheet expansion and low real rates can revive fea