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Options Action: Gold

The Vix is often called the fear index but perhaps the true measure of fear is actually gold.

And recently options traders have been making big bets that gold will go higher as global fears spread.

So how can you get in on the action for less?

Brian Stutland of Stutland Equities suggests a trade in the GLD that could double your money by May. It follows:

GLD options chain - GLD $114
Buying May 114-strike call for $2.15
Selling May 116-strike call for $1.25

How Brian's Trade Make's Money
Profits capped at $116
Profit above $114.90
Losses below

Learn more about this trade. Watch the video now!




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Trader disclosure: On Apr 29, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (INTC), (GS), (AGU), (BTU), (NUE), (MSFT), (C); Karabell Owns (GOOG), (AAPL), (RIMM), (GS); Grasso Owns (NDAQ), (DYN), (LPX), (ASTM), (ABK), (BAC), (BGP), (C), (CVGI), (JPM), (NEM), (PRST), (PFE), (BA), (T), (CSCO), (X); Najarian Owns (AKAM) Call Spread; Najarian Owns (C) Calls; Najarian Owns (CBS) Call Spread; Najarian Owns (CELG); Najarian Owns (GOOG) Calls; Najarian Owns (JEF) Calls; Najarian Owns (KGC) Calls; Najarian Owns (PFE); Najarian Owns (PG) Calls; Najarian Owns (YHOO) Call Spread; Najarian Owns (XOM) Call Spread; Finerman's Firm Is Short (IJR), (IWM), (MDY); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC), (BAC) Preferred; Finerman Owns (GOOG); Finerman's Firm And Finerman Own (JPM); Finerman's Firm Owns (MCD); Finerman's Firm And Finerman Own (RIG), (RIG) Calls; Finerman's Firm Owns (YUM); Finerman's Firm Owns (GLW); Najarian Owns (XOM) Call Spread; Stutland Owns (GLD) Using Bull Option Spreads; Kelly Owns (FXE) Puts; Kelly Owns (AUY) Calls

For Anthony Scaramucci
Scaramucci Owns (AAPL), Skybridge Owns (AAPL); Scaramucci Owns (BAC), Skybridge Owns (BAC); Scaramucci Owns (C), Skybridge Owns (C); Scaramucci Owns (GOOG), Skybridge Owns (GOOG); Scaramucci Owns (GS), Skybridge Owns (GS); Scaramucci Owns (HPQ), Skybridge Owns (HPQ); Scaramucci Owns (INTC), Skybridge Owns (INTC); Scaramucci Owns (JPM), Skybridge Owns (JPM); Scaramucci Owns (MCD), Skybridge Owns (MCD); Scaramucci Owns (VIA.B), Skybridge Owns (VIA.B); Scaramucci Is Long U.S. Dollar, Skybridge Is Long U.S. Dollar; Scaramucci Owns (MRK), Skybridge Owns (MRK)

For Maynard Um
UBS AG, Affiliates Or Subsidiaries Own 1% Or More Of (AAPL)
(DELL), (HPQ), (MOT) Is Or In Past 12 Months Has Been An Investment
Banking Client Of UBS Securities LLC
(AAPL), (DELL), (MOT) Is Or In Past 12 Months Has Been A Client Of UBS Securities LLC (Non-Securities Services)
UBS Securities LLC Has Received Compensation From (AAPL), (DELL), (HPQ), (MOT) In Past 12 Months

For Brian Stutland
Stutland Equities Is A VIX Market Maker, Has A Long Position, Is Short Volatility

For Brian Kelly
Kanundrum Capital Owns (AUY)
Kanundrum Capital Owns (GFI)
Kanundrum Capital Owns (TLT)
Kanundrum Capital Owns U.S. Dollar
Kanundrum Capital Is Short (DB)
Kanundrum Capital Is Short (BCS)
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short Yen
Kanundrum Capital Is Short Franc
Kanundrum Capital Is Short (CLF)
Kanundrum Capital Is Short (AA)

For Steve Grasso
Stuart Frankel And Its Partners Own (AMR)
Stuart Frankel And Its Partners Own (BAX)
Stuart Frankel And Its Partners Own (DYN)
Stuart Frankel And Its Partners Own (CUBA)
Stuart Frankel And Its Partners Own (DYN)
Stuart Frankel And Its Partners Own (GERN)
Stuart Frankel And Its Partners Own (HSPO)
Stuart Frankel And Its Partners Own (MERC)
Stuart Frankel And Its Partners Own (NWS.A)
Stuart Frankel And Its Partners Own (NYX)
Stuart Frankel And Its Partners Own (PALM)
Stuart Frankel And Its Partners Own (PDE)
Stuart Frankel And Its Partners Own (PFE)
Stuart Frankel And Its Partners Own (PRST)
Stuart Frankel And Its Partners Own (RDC)
Stuart Frankel And Its Partners Own (TLM)
Stuart Frankel And Its Partners Own (XRX)
Stuart Frankel And Its Partners Own (SDS)
Stuart Frankel And Its Partners Are Short (QQQQ)
Stuart Frankel And Its Partners Are Short (CL)
Stuart Frankel And Its Partners Are Short (AAPL)


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