you ever notice that the 3rd day after options expiry tend to be a short term bottom for the metals and miners? That's the day the piper comes looking so people are forced to sell. If its true then look for the low of this move sometime this afternoon. Just an observation, my Chrystal ball is just a opaque as everyone else's.
I'm not playing the options in silver.. I've observed what you say through a Futures perspective and the dynamics of the week during rollover.. hopefully you know a little about futures trading for this explanation:
As you probably now, the futures prices determines the prices of silver, not the spot price nor the options. spot price and options do influence the futures price though, and have their place. .
During the rollover from the front month to the back month in the Futures, delivery notices are issued for those wanting physical delivery. Three days before "First Notice" day on futures is options expiry, the Tuesday usually. During the week players are rolling their positions from front month to the back month in Futures and Friday (really more like the Monday) everything becomes stable again and if a pop is to happen, that's a pretty good pop day (either up or down) but i wouldnt say all one way (bullish).
I've seen everything settle and it falls like a rock; and I've seen everything settle and pops like a rocket; i've seen everything settle and it starts one way only to have headline news like bernanke speak and it shoots the opposite way in a NY minute.