2. Silver shorts must deliver physical silver for options that expire. A short seller agrees to sell silver to in the future. The person agreeing to buy in the future is the long buyer. The short seller is paid the difference in price if silver goes down. The short seller can deliver physical silver to a warehouse or settle in cash or shares in an ETF. It is unethical for the seller too not settle in the commodity. (http://about.ag/futures.htm)

3. Long positions wonder if they will receive physical silver, if there options expire. Will the sellers force them to settle in cash?

4. The spot price of silver is determined by supply and demand factors. Supply and demand do not have to be real to determine spot price. Perceived shortages can cause price increases (http://www.silverdoctors.com/silver/)

5. In 1991, silver traded at $3.5 dollars an ounce and between, 1988 and 2005 silver never traded above $9 an ounce. Short selling was sustained long term to keep silver prices artificially low.

6. Silver maintains certain levels of value because it has consistent demand.

7. Mexico, Peru, and Bolivia account for 80% of silver production

8. Comdex does not have enough physical gold to deliver physically. In 2015, Comdex had 29 million ounces in long/short contracts and 160,000 ounces of deliverable silver in inventory. There were 180 long/short ounces in future contracts to every one ounce of silver. Banks are creating short sells contracts keeping prices low. (http://investmentresearchdynamics.com/how-come-no-one-will-attack-the-comex-gold-short/)

9. A comdex silver contract is 5000 ounces of silver per contract. To prevent delivery of the physical silver, the trader buys a long contract to cancel out the short sell contract then buys a short contract with a future maturity date. (http://www.coinweek.com/bullion-report/how-could-silver-short-sellers-cover-their-positions/)