Surge In GLD December $145 Call Volume

[Ares]

While it is not surprising that 9 out of the top 10 option classes in GLD are calls, what is odd is that the most actively traded call by a substantial margin are the December $145 strikes. In other words, specs are betting that gold will move $60 higher in the next three weeks. Judging by today's 4% move in silver, the less valuable cousin may have a comparable move.

<img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/gono/GLD%20Options.jpg"/>

http://www.zerohedge.com/article/surge-gld-december-145-call-volume

[Bigjon]

While it is not surprising that 9 out of the top 10 option classes in GLD are calls, what is odd is that the most actively traded call by a substantial margin are the December $145 strikes. In other words, specs are betting that gold will move $60 higher in the next three weeks. Judging by today's 4% move in silver, the less valuable cousin may have a comparable move.



http://www.zerohedge.com/article/surge-gld-december-145-call-volume


From my experience usually when there is a big call position staked out, prices fall.

I believe the big call position might be insurance for someone who wants to go short in a massive way.