Dollar ETF Sees Bullish Options Activity (UUP)

While options traders are feeling bearish about gold, they apparently feel good about the U.S. dollar as evidenced by the options action in the PowerShares DB U.S. Dollar Index Bullish ETF (NYSE: UUP).

Traders bought 20,000 June 23 calls in UUP and sold the same amount of June 26 calls. Options volume in UUP is just below the daily average, but the ETF itself is seeing strong volume of nearly 7.6 million shares compared to average daily trade of 5.6 million shares.