Options Markets, GDX Call Options Hit A Record At 1.2 Million

Options Markets, the number of outstanding GDX call options hit a record at 1.2 million last Friday, and open interest in GDX calls was about 1.1 million at Wednesday’s close, notes a report by Dow Jones Newswires. The GDX put-call ratio hit a two-year low last Friday, and was 0.61-to-1 at Wednesday’s close. The measure is down significantly from its 2011 high in April. The shifting sentiment could mean that bullish call options now make up a significantly higher proportion of GDX positions. Six months ago, puts were in favor. Call options allow the holder to buy 100 ETF shares for a set price, while put options allow the holder to sell shares. Some observers are taking the activity in options markets as signs that gold mining stocks are finding renewed interest after badly lagging bullion prices this year. Click To See More Options Info