Loading ...“Today’s bullish bias echoes a broader trend seen among GLD options traders. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 95,263 calls were bought to open in the past two weeks, compared to just 49,669 puts. The July series, in particular, has been popular in recent sessions, with almost 41,500 contracts collectively added at the July 126, 128, and 131 calls in the past five days.”
I don’t watch CNBC anymore but I imagine the Najarian brothers on “Fast Money” were going crazy bullish about the options action on GLD.
Personally, without silver and the shares running ahead, I think those option players are going to get wiped out.
Maybe the basis for a new poll. Where will gold close at the end of June? Below $1300, Above $1300, Above $1320, Above $1350, Above $1400? Below $1280?