Dan Nathan Sees Unusual Options Activity In SPDR Gold Trust (ETF)

, Dan Nathan spoke about an unusually high bullish options bet in

that he noticed on Thursday. Gold closed the session sharply higher and the options trading volume was 4 times higher than the average options trading volume. Calls outnumbered puts 4 to 1. When the ETF was trading at $118.50, a trader sold to close 20,000 contracts of the March 133 calls and bought 20,000 contracts of the March 140 calls for $0.30. Nathan explained that the trade breaks even 18 percent higher from current levels.