Downside Play Targets Gold Fund

A big put trade hit the iShares Gold Trust early today.

optionMONSTER’s Depth Charge system shows that a block of 11,541 October 11 puts was bought for the ask price of $0.15 this morning. This is a new position, as there was no open interest at that strike before the trade appeared.

The puts aren’t tied to any trading in the underlying shares identified by our scanners so far in the session, so they could have been purchased in an outright bearish play. Alternatively, they could be hedging a long position established earlier.

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