business π Major gold options trade signals shift
Gold has surged 15% this month, nearing its best month since 2008, despite rising interest rates. A massive trade on Monday involved selling 116,000 in-the-money 420-strike calls for $202 million in GLD. The trader then bought 430-strike calls for $144 million, netting $58 million. This shift suggests waning confidence from a major trader before key events like PCE inflation and Jackson Hole. Experts predict a high probability of a short-term pullback for gold. π