Mike Khouw Sees Unusual Options Activity In SPDR Gold Trust ETF

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

He said that the put to call ratio was four times higher than its daily average. Traders were buying the October 118 puts and paying $0.40 for them. The trade breaks even at $117.60 or 2.63 percent lower from the current stock price.