A massive trade just happened in gold. The options market is buzzing

Gold is up 15% this month, rallying alongside higher interest rates and quietly on pace for its best month since 2008. The biggest trade in the entire options market today says that run is coming to an end. Twenty minutes after the market opened Monday, someone sold almost 116,000 420-strike calls in the SPDR Gold Shares ETF (GLD) expiring Sept. 18, contracts that are currently in-the-money, collecting a total premium of $202 million [1].

Sources

1. cnbc.com · A massive trade just happened in gold. The options market is buzzing Aug 24, 2026

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