The largest block of those calls , a single print of 7,500, went for $1.86. Those contracts ended the session trading for $1.93 to $1.96, according to the Heat Seeker.
Calls fix the price investors must pay for shares in the fund. They can provide significant leverage, doubling or tripling in price from a move of just 10 percent in the stock, but can also expire worthless if a rally doesn’t occur.
The ETF rose 0.42 percent to $47.53 yesterday. Plenty of other gold miners have been lighting up our systems as the recent selloff in the industry has brought value hunters out of the woodwork.
Total volume in the fund was almost 123,000 contracts, nearly twice its daily average.
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Jon ‘DRJ’ Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.com. Najarian owns GDX call spreads.