There is a very long-term short position from a time when silver was near $50.  This short position was done throughPSLV. The position is short from an average price of $22.02.  As of this writingPSLV is trading at $5.56 and has traded as low as $5.23.The reason it was done through PSLV is because PSLV was trading at a substantial premium to the underlying value of physical silver.

At the time of the post we wrote,

Aggressive investors who want to initiate a very long-term position may consider building up to 100% if PSLV rises from here over $21.50 and then not touch it for years and not use stops on this very long-term position.