Will gold miners finally rebound?
Chris McKhann | firstname.lastname@example.org
A big call spread is looking for a rebound off six-year lows for the Market Vectors Gold Miners Fund.
optionMONSTER systems show that a trader bought 6,000 February 22 calls for $0.66 and sold the same number of February 25 calls for $0.16, below the listed bid price at the time. Volume was above previous open interest at both strikes, so this is new positioning.
The trader paid $0.50, which is the maximum risk in the trade. He or she stands to make $2.50 if the GDX is above $25 at expiration.
The GDX is up 2.53 percent today to a session high of $20.91. The exchange-traded fund fell to $20.24 yesterday, its lowest price since November 2008.
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.