Calls Sold in Base Metals ETF

Shares of the PowerShares DB Base Metals ETF (NYSE:

) are trading higher on the session by 2.17% to $20.27, but one trader is betting that the ETF will not rise over $24.35 over the next few months. The October $24 all was just sold 1,334 times in a single block, very near the bid price, for $0.35. The ETF is struggling to hold the 200-day moving average currently, as well as the $20 support level. If it cannot than a move toward $17.50 seems likely. The PowerShares DB Base Metals ETF seeks to track the price and yield performance, before fees and expenses, of the Deutsche Bank Liquid Commodity Index - Optimum Yield Industrial Metals Excess Return.