Mike Khouw Sees Bullish Options Activity In SPDR Gold Trust

CNBC Options Action's Mike Khouw spoke on the show about unusually high options activity in SPDR Gold Trust (ETF) GLD.

He noticed that the call options volume was three times higher than the average daily call options volume, and that there was activity in the April 145 call options.

Khouw said that the ETF hasn't traded at $145 since early 2013. The traders paid $0.60 for the April 145 calls and the break even for the trade is $145.60 -- 20 percent higher at April expiration.

Khouw added that some traders might be hedging their currency exposure with gold.