What call surge means for gold miners
Chris McKhann | email@example.com
The Market Vector's Gold Miners Fund has been rallying off its recent lows and yesterday drew heavy activity in longer-term calls.
The GDX finished yesterday's session at $56.18, down 0.46 percent on the day. The exchange-traded fund has been rallying since hitting a 52-week low of $49.22 at the end of 2011. However, the recent gains have brought shares only back to where they were in mid-December.
Option volume was above average and led by action in the January 2013 80 calls, where a trader bought 15,000 contracts for the ask price of $1.08, according to optionMONSTER's Heat Seeker system. The previous open interest was 9,289, so this was a new opening position.
A minute later, the largest GDX stock print of the day traded as a block of 225,000 shares was sold for $56.10. That trade, if tied to the call purchase, would create an overall position that is neutral on the stock's direction and instead focused on changes in volatility.
Buyers dig into gold miners again
January 22, 2015
Bullish call spreads targeted the Market Vectors Gold Miners Fund yesterday even as it gave up the session's gains.
Midday index, ETF option volumes
January 20, 2015
Total option volume is running strong at 6.3 million so far today, with relatively bearish sentiment in the primary indexes and ETFs, according to optionMONSTER data systems.
Will gold miners continue to shine?
January 13, 2015
The Market Vectors Gold Miners Fund is up 16 percent in the last month in what seems to indicate that sentiment is finally shifting in favor of the beaten-down industry.
Gold miners attract long-term bet
January 12, 2015
A big call spread is looking for a long-term bullish in the Market Vectors Gold Miners Fund, which just posted its highest close since late October.