Over 30, 000 GDX Aug 26 weekly 28 puts traded for .29, via auto execution across multiple exchanges.?
Market Vectors Gold Miners ETF, trading 31.41 (up .47) with an IV30 of 42% and an HV10 of 38.5, is seeing bearish put action.? Traders have been buying up the August 26 weekly 28 puts paying .29, via auto execution across multiple exchanges.? GDX is an active stock trading 147,000 contracts a day and has an OI of 2.3 million. A customer is banging at these puts buying as many as they can, and so far over 30,000 of these puts have traded with most around .29, opening.
This could be a customer seeing up a hedge as if the stock is below 28 the customer would be stopped out.? It also could be a customer that thinks over the next few weeks GDX is going to be backing off its recent run higher.?
This trade is bearish GDX and bullish GDX vol.