On CNBC's "Options Action", Mike Khouw spoke about high options volume in SPDR Gold Trust (ETF) GLD. He said that the call options volume was twice the average daily call options volume.
Khouw noticed a big trade in the December expiration. A trader bought 35,000 contracts of the December 135/160 call spread for 42 cents. The trade breaks even at $135.42 or 16.22 percent above the closing price on Wednesday. It can maximally make a profit of $24.58. Khouw added that there has been some interest from institutional buyers in both of these strikes since the beginning of the year.
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