Market Vectors Gold Miners (GDX) $44.16 -2.21%
Market Vector Mining Fund (GDX) slips 65 cents to $44.51 and recent trades on the ETF include an Aug 42.5 – 47 bearish risk-reversal for 17 cents, 10000X on NYSE-ARCA. The investor sold calls to buy puts and open a new position. The miners are down this morning after gold slipped $12 to $1576.4 an ounce. The bearish combo doesn’t look tied to stock and appears to be in anticipation of a move lower in the underlying shares through the August expiration (52 days).
Category: All ETFs
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
