Market Overview

Large 3-way Call Spread in GLD

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It looks like someone is taking advantage of today's rise in the SPDR Gold Shares (NYSEArca: GLD) and unwinding a long August 160-175 call spreading 15k times, then using the proceeds to continue a Bullish sentiment with the purchase of 30k September 172 calls. The August spread was sold for $1.00 with the September contracts purchased at $.70. The last time GLD traded above the $172 price level was late February 2012.

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