Bullion Bulls Beating Bears With ETF Calls Outpacing Puts: Chartby
Open interest on call options to buy the SPDR Gold Shares exchange-traded fund is outpacing ownership of puts for the right to sell the ETF by close to the most since at least mid-2008, which is as far back as the Bloomberg-compiled data go. The difference between the two has retreated a bit after hitting a record on Feb. 18. Option traders’ bullishness ascended even as bullion posted its first weekly drop in five on concern that its best annual start since 1980 is overdone. The metal has rallied on concerns that the global economy may weaken.