Those of you who have followed this blog for a few years will know how important options expiry is for gold and silver. The story is always the same, gold and silver prices begin to decline about 5 trading days before options expiry and magically close just below a key options strike price. All of those poor speculators who thought they had major in the money call options are fleeced by the big trading houses such as JP Morgan, Goldman Sachs and HSBC. February 23rd is March options expiry and todays pullback signals the start of options madness week. One thing that has changed recently is that the normal bounce back in price no longer occurs the day after option expiry, it runs all the way through 1st day notice for futures contracts, which this month is February 26th. This extended pattern that has emerged in recent months may suggest that the physical market is very tight and the large bullion banks are holding the prices down longer to discourage speculators for taking physical delivery. Expect gold to be pushed below the important strike price of $1100 and silver $15.75 in the next week. Use any weakness as an opportunity to accumulate discounted gold and silver courtesy of the bullion banks. Conversely if we see strength into option expiry it could mean the bank shorts are in trouble. The upside breakout could be spectacular. Either way not a time for the feint hearted.

[Editors note 24/2 - options expired today with gold at $1099 and silver at $15.73.....banksters win again. Such blatant criminal market manipulation]

2010 Key COMEX dates (add 1 day for Australian dates)

Feb. 23 Comex March silver options expiry

Feb. 23 Comex March copper options expiry

Feb. 24 Comex February gold futures last trading day

Feb. 24 Comex February silver futures last trading day

Feb. 24 Comex February copper futures last trading day

Feb. 24 Comex March E-mini copper futures last trading day

Feb. 24 Comex March miNY silver futures last trading

Feb. 24 Nymex February platinum futures last trading day

Feb. 24 Nymex February palladium futures last trading day

Feb. 24 Nymex March Asian gold futures last trading day

Feb. 24 Nymex March Asian platinum futures last trading day

Feb. 24 Nymex March Asian palladium futures last trading day

Feb. 26 Comex March silver futures first notice day

Feb. 26 Comex March copper futures first notice day

Feb. 26 Nymex March palladium futures first notice day

March 17 Nymex April platinum options expiry

March 25 Comex April gold options expiry

March 25 Comex April copper options expiry

March 29 Comex April miNY gold futures last trading

March 29 Comex March silver futures last trading day

March 29 Comex March copper futures last trading day

March 29 Comex April E-mini copper futures last trading day

March 29 Nymex March palladium futures last trading day

March 29 Nymex April Asian gold futures last trading day

March 29 Nymex April Asian platinum futures last trading day

March 29 Nymex April Asian palladium futures last trading day

March 31 Comex April gold futures first notice day

March 31 Comex April copper futures first notice day

March 31 Nymex April platinum futures first notice day

April 27 Comex May silver options expiry

April 27 Comex May copper options expiry

April 28 Comex April gold futures last trading day

April 28 Comex April copper futures last trading day

April 28 Comex May E-mini copper futures last trading day

April 28 Comex May miNY silver futures last trading day

April 28 Nymex April platinum futures last trading day

April 28 Nymex May Asian gold futures last trading day

April 28 Nymex May Asian platinum futures last trading day

April 28 Nymex May Asian palladium futures last trading day

April 30 Comex May silver futures first notice day

April 30 Comex May copper futures first notice day

May 25 Comex June gold options expiry

May 25 Comex June copper options expiry

May 26 Comex June miNY gold futures last trading day

May 26 Comex May silver futures last trading day

May 26 Comex May copper futures last trading day

May 26 Comex June E-mini copper futures last trading day

May 26 Nymex June Asian gold futures last trading day

May 26 Nymex June Asian platinum futures last trading day

May 26 Nymex June Asian palladium futures last trading day

May 28 Comex June gold futures first notice day

May 28 Comex June copper futures first notice day

May 28 Nymex June palladium futures first notice day

June 16 Nymex July platinum options expiry

June 24 Comex July silver options expiry

June 24 Comex July copper options expiry

June 28 Comex June gold futures last trading day

June 28 Comex June copper futures last trading day

June 28 Comex July E-mini copper futures last trading day

June 28 Comex July miNY silver futures last trading day

June 28 Nymex June palladium futures last trading day

June 28 Nymex July Asian gold futures last trading day

June 28 Nymex July Asian platinum futures last trading day

June 28 Nymex July Asian palladium futures last trading day

June 30 Comex July silver futures first notice day

June 30 Comex July copper futures first notice day

June 30 Nymex July platinum futures first notice day

July 27 Comex August gold options expiry

July 27 Comex August copper options expiry

July 28 Comex August miNY gold futures last trading day

July 28 Comex July silver futures last trading day

July 28 Comex July copper futures last trading day July 28 Comex August E-mini copper futures last trading day

July 28 Nymex July platinum futures last trading day

July 28 Nymex August Asian gold futures last trading day

July 28 Nymex August Asian platinum futures last trading day

July 28 Nymex August Asian palladium futures last trading day

July 30 Comex August gold futures first notice day

July 30 Comex August copper futures first notice day

Aug. 26 Comex September silver options expiry

Aug. 26 Comex September copper options expiry

Aug. 27 Comex August gold futures last trading day

Aug. 27 Comex August copper futures last trading day

Aug. 27 Comex September E-mini copper futures last trading day

Aug. 27 Comex September miNY silver futures last trading day

Aug. 27 Nymex September Asian gold futures last trading day

Aug. 27 Nymex September Asian platinum futures last trading day

Aug. 27 Nymex September Asian palladium futures last trading day

Aug. 31 Comex September silver futures first notice day

Aug. 31 Comex September copper futures first notice day

Aug. 31 Nymex September palladium futures first notice day

Sept. 27 Comex October gold options expiry

Sept. 27 Comex October copper options expiry

Sept. 28 Comex October miNY gold futures last trading day

Sept. 28 Comex September silver futures last trading day

Sept. 28 Comex September copper futures last trading day

Sept. 28 Comex October E-mini copper futures last trading day

Sept. 28 Nymex September palladium futures last trading day

Sept. 28 Nymex October Asian gold futures last trading day

Sept. 28 Nymex October Asian palladium futures last trading day

Sept. 28 Nymex October Asian platinum futures last trading day

Sept. 30 Comex October gold futures first notice day

Sept. 30 Comex October copper futures first notice day

Sept. 30 Nymex October platinum futures first notice day

Oct. 26 Comex November copper options expiry

Oct. 27 Comex October gold futures last trading day