Volume Spike Investor

The SPDR Gold Shares (NYSE: GLD) is again seeing unusually high interest in the call options out in the AUG08 CALLS and in the SEP08 CALLS.  In fact, this ETF has the top 3 spots for the most active call options at the CBOE.  Below are the two most actives for August and one for September:

Call Strike             Volume   OpInt
AUG08 $100.00    10,677    5,124
AUG08 $105.00    20,283    1,410
SEP08 $100.00     20,560    112,697

With options expiring Friday this could just be newer positions being established and others being rolled out, but we’d note that this ETF is rarely the most active contract on the CBOE.

We noticed some of the Gold Calls yesterday also being among the most actives.

Jon Ogg
July 15, 2008