Alan Knuckman iShares Silver Trust ETF Trade

Alan Knuckman of Bulls-Eye suggested on Bloomberg Markets a bullish options strategy in iShares Silver Trust (ETF) SLV.

He believes that silver could move higher after the recent pullback and he wants to buy the January 15 call in the ETF for $3.25. The call options is deep in the money and it's going to behave pretty similar to the underlying for much lower capital investment, explained Knuckman. The trade breaks even at $18.25, which is $0.53 or 3 percent above the current stock price.

If iShares Silver Trust (ETF) returns to its 52-week high, close to $20, the call is going to gain 60 percent, said Knuckman.