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Silver Plunges Six Percent as Volatility Shakes Out Late Longs

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Published: January 30, 2026

The Gamma Flush

The extreme volatility has triggered a 'gamma flush' in the options market, where dealers selling calls were forced to unwind hedges as prices dropped, accelerating the downside move.

Industrial Pause

While the structural deficit remains, physical buyers in the solar sector have paused procurement at these elevated levels, removing the primary support that had driven the price past $109.