Crypto Whales Are Loading Up — Are You?
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On CNBC's Options Action, Mike Khouw spoke about unusually high bullish options activity in SPDR Gold Trust (ETF) (NYSE: GLD). Call options outnumbered puts 5 to 1 in the ETF on Tuesday and call options volume was 1.3 times higher than the average daily call options volume.
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The most of the call options volume was the result of one trade. A trader bought 66,000 contracts of the September 135/140 call spread for $0.96, paying around $6 million in premium for the trade. The breakeven for the trade is at $135.96 or 5 percent higher from the closing price on Tuesday. The trader can maximally make $4.04, if the stock jumps 8.1 percent to $140, by the September expiration.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.