I sold about a quarter of my…

I sold about a quarter of my SLV puts.  I sold the puts with the highest strike prices so that now my natural stop loss on the remaining SLV position is lower.   In other words, I sold a SLV puts with a $37 strike price and kept some puts with lower strike prices, averaging around $34.  SLV is now trading at $33.92 or so, and while the lower strike price puts also have time value and volatility premium in them, they effectively stop me out somewhere in the mid $30s, rather than, say the $37 where these puts I just sold would stop me out as their time value and volatility premiums have ebbed as they have gotten to be deeper in the money.

Put another way, in the most the simple terms, I did just cover part of our silver short to lock in some profits.