Dan Nathan Sees Unusual Options Activity In Market Vectors Gold Miners ETF

On CNBC's Options Action, Dan Nathan spoke about unusual options activity in Market Vectors Gold Miners ETF GDX. Call options volume was seven times higher than the put options volume and there was one bullish trade that caught Nathan's attention. When the ETF was trading at $13.90, there was a buyer of the 20,000 contracts of the June 15/20 call spread for $1 each. The total premium amounts to $2 million and the trade breaks even at $16 or approximately 14 percent from the closing price on Thursday. Maximal gain is $4, or $8 million if the ETF jumps to $20 at the June expiration.