Bearish Options Activity on Market Vectors Gold Miners ETF After Worse Fundamentals

 Bearish Options Activity on Market Vectors Gold Miners ETF After Worse Fundamentals

In today’s session Market Vectors Gold Miners ETF (GDX) recorded an unusually high (4,398) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious GDX decrease. With 4,398 contracts traded and 151534 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: GDX161216P00024000 closed last at: $0.92 or 1.1% up. The ETF decreased 9.86% or $2.56 during the last trading session, hitting $23.4. Market Vectors Gold Miners ETF (NYSEARCA:GDX) has risen 39.80% since March 1, 2016 and is uptrending. It has outperformed by 30.55% the S&P500.

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