Next week with the March expiry on the 24th/25th should be something to watch.

JPM with Fed backing owns virtually all the shorts. JPM will do its utmost to bring down gold/ silver before / on the expiry date, but this time the longs may have enough courage to call JPM's bluff. This should be a unique opportunity to bring the Crimex to its knees with the strong ongoing market momentum.

As it is all computer triggered trading who knows whether the expected all out barrage of short calls will be met with corresponding longs. Unless JPM acts as its own long / spread counterparty to its shorts to manipulate the price down in successive waves.