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

CNBC Options Action's Dan Nathan spoke on the show about unusually high options activity in SPDR Gold Trust (ETF) GLD. He said that call options volume was three times higher than the put options volume. When the ETF was trading at $120, one trade caught Nathan's attention. There was a buyer of 20,000 contracts of the May 130/138 call spread for $0.38. The break even for the trade is at $130.38 or 8.6 percent higher from the current price. Nathan added that the open interest in SPDR Gold Trust (ETF) is levered toward calls and contracts with the highest open interest are the September 125 calls, June 125 calls and May 125 calls.