My bi-directional trade on SLV

I like SLV, I think it is a good inflation hedge that has a history of having sudden bullish movements.
But it's not at historical lows either and everything is possible. So, here is my trade:
1) Long SLV
2) Puts Strike 20 Jul 18

Such put protection is usually expensive. But looking at options prices, EVERYONE thinks SLV will only go up. This means that out of the money puts are pretty cheap.
My potential trade outcomes:
1) Silver goes way up and I make a ton of money on long SLV and because puts are cheap, loss on them will be insignificant
2) SLV crashes to lows for whatever reason. I make 15x on my puts that will more than offset any losses on my long and I'd be happy to go long again at those levels.
3) Nothing happens - in this case, I just lose my put money, but because they are cheap...see #1.

Sounds like a deal to me!

I marked this one "Long" because I make money either way (or at least not lose much).