Langlui's Big Board and Options Plays

[loanwolf]

I'm not sure I understand this trade ????

SLW is basically what I would call a "precious metals holding company"
In other words they have contracts or agreements for the purchase of silver and other PM's at dirt low prices to my understanding. So to me wether silver goes up or down at this point, I think they are way ahead of the game.

SLV to me is more of a direct investment in Silver itself at current market prices.

I could be way off on this and looking for some insight.
It just seems there's too much room for this trade to go the opposite way vs just strangling SLW or SLV by its respective self.