On That $2 Million Bet Of $1,800 Gold By October

Some days ago, the broader media made a big deal out of an option trade worth $1 million that bet on a 37% drop ($25) in silver by July. We discussed it here. Yet the same media has been oddly silent on what over the past two days has been a trade that is double in capital at risk and involves gold futures. As can be seen on the charts below, between April 12 and 13, someone has made a bet that gold would jump to $1,800 by October, having purchased about 3,000 October $1,800 calls in GC. We are eager to hear how this particular trade that goes against the MSM's perpetual bias against precious metals is spun (if at all).

April 12:

April 13:

h/t David



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