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Precious metals are shaping up, and silver looks ready to play catch-up.

One good way to add some exposure here is through Pan American Silver $PAAS.

The stock has been carving out a nice base since last summer and is pushing toward the top of its range. 

If silver moves, PAAS will move—and it should come with a lot more juice.

The setup is clean, our risk is well-defined, and the upside potential is solid. If we’re right about silver, PAAS will be one of the best ways to play it.

Here’s the play:

We’re buying the $PAAS 4/17 $27 calls for approximately $0.45-0.55 per contract....