rewrite this title The Daily Breakdown: Silver Volatility Heats Up Amid Record Run

We’re into the last week of 2025 as silver’s rally is hitting a roadblock and as Apple bulls look for a bounce. The Daily Breakdown digs in.

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Weekly Outlook

We’ve reached Week 52 of 2025, and with the Santa Claus Rally window now open, bulls are hoping for additional gains during another abbreviated trading week. US stock markets will operate as normal from Monday through Wednesday, will be closed on Thursday for New Year’s Day, and Friday will mark the first trading day of 2026.

There are few economic events to focus on this week, and no major earnings reports on the calendar. That leaves investors watching the assets showing the most pronounced moves as year-end approaches.

Silver Isn’t Just for Second Place

Silver has captured Wall Street’s attention lately. Prices are up more than 150% so far this year, following an 18% gain just last week. While silver is off to a rough start this week — down about 5% — expectations for volatility continue to rise alongside prices. Currently riding a five-week winning streak, with gains of more than 50% over that span, the key question is whether silver can end the year on a high note or finally post a red week.

383.1 million shares of the SLV ETF traded last week, its highest total since February 2021.

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The Setup — Apple

Since its August low, Apple has been on a steady march higher, with support coming into play before the stock tested its 50-day moving average. Now AAPL shares are actually testing the 50-day, giving bulls reason to believe a bounce could be in store. 

If the stock can find support near the $270 level, bulls might look for a bounce back toward the recent highs. However, if support fails to materialize, a larger correction could continue to play out in Apple. 

Options

As of December 26th, the options with the highest open interest for AAPL stock — meaning the contracts with the largest open positions in the options market — were the January $270 calls. 

Investors who are bullish could consider calls or call spreads as one way to speculate on further upside, while bearish investors could consider puts or put spreads to speculate on a further move to the downside. For options traders, it may be advantageous to have adequate time until the option’s expiration. 

To learn more about options, consider visiting the eToro Academy.

What Wall Street’s Watching

GOLD

Silver has been on fire, but gold has done well too as it recently hit record highs. Riding a three-week win streak, bulls have seen the GLD ETF and the gold miners ETF — the GDX — rise in recent weeks as well. So far, the metal is up almost 70% so far this year. Check out the charts for the GLD. 

BTC

After a strong return through Q3, Bitcoin has wavered in Q4 and is currently down about 23% for the quarter — though it’s down just 6.5% year to date. That said, price action has been relatively quiet in recent weeks, with BTC down less than 1% since November 24. Now bulls are asking the key question: Will Bitcoin reawaken in Q1 and provide a lift to Ethereum, Solana, and other major cryptoassets? IBIT remains the largest ETF by assets, while also supporting options trading. 

XLF

The Financial Select Sector SPDR Fund — XLF — hit new 52-week highs last week, as stocks like JPMorgan, Bank of America, and Morgan Stanley all pushed to fresh annual highs on Friday. Those gains continue to power the sector higher. Up 15% so far this year, financials remain firmly on bulls’ radar as we head into 2025.

Disclaimer:

Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.