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

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On CNBC's Options Action, Dan Nathan spoke about an unusually high bullish options bet in SPDR Gold Trust (ETF) (NYSE: GLD) that he noticed on Thursday. Gold closed the session sharply higher and the options trading volume was four times higher than the average options trading volume. Calls outnumbered puts 4 to 1.

When the ETF was trading at $118.50, a trader sold to close 20,000 contracts of the March 133 calls and bought 20,000 contracts of the March 140 calls for $0.30. Nathan explained that the trade breaks even 18 percent higher from current levels.

 

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Posted-In: CNBC Dan Nathan Options ActionOptions Markets Media

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