Implied Volatility Mover
Implied volatility in the options on the SPDR Gold Fund (GLD) is up sharply again Monday, as the yellow metal suffers a very steep decline. GLD, which is an exchange-traded fund that represents ownership in the actual metal, is down $10.55 to $133.40 in heavy trading of 60.5 million shares and has now suffered a two-day 11.7 percent plunge. Options on the ETF are seeing very heavy trading as well. 270,000 calls and 300,000 puts so far and 30-day implied volatility is moving up 66 percent to 33.
Volume Signals
Sprint (S) options volume is running 10X the (22-day) average, with 418,000 contracts traded and call volume accounting for 64 percent of the volume.
SPDR Gold Trust (GLD) options volume is 2.5X, the average daily, with 463,000 contracts traded and put option volume representing 52 percent of the activity..
iShares Silver Fund (SLV) options volume is running 3X the average daily, with 344,000 contracts traded and put volume accounting for 51 percent of the activity.
Increasing options activity is also being seen in Goldcorp (GG), Newmont (NEM), and SPDR Metals and Mining ETF (XME).
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