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Traders Are Betting On A Huge Spike In GLD

Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today points out well-timed options plays in the world’s largest ETF, as well as some very bullish bets being placed on the biggest gold ETF.

SPY, VXX Bets Pay Off Quickly

We saw some well-timed February options activity late last week that seems to have predicated today’s move lower in equities, as well as a spike in the VIX.

SPY February 229 puts traded in decent size late last week, as did February 20 calls in VXX (iPath S&P 500 VIX Short-Term Futures ETN) and both trades are in the money in very short order.

Traders Hoping For Gold Spike

In other activity, GLD (SPDR Gold) April 125 calls traded in decent size as well, and although these options are notably out-of-the-money at present levels (~$114), the trading is still interesting given the sentiment and the “feel” today post-weekend. GLD flows recently have actually suggested some liquidation, with more than $350 million leaving the fund in recent days.

The SPDR Gold Trust ETF (NYSE:GLD) was trading at $113.94 per share on Monday morning, up $0.45 (+0.40%). Year-to-date, GLD has gained 3.95%, versus a 1.56% rise in the benchmark S&P 500 index during the same period.

GLD currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #1 of 33 ETFs in the Precious Metals ETFs category.

QQQ Loses Funds Ahead Of Apple Earnings

Finally, in our last piece of fund flows news, QQQ saw noticeable profit taking last week via heavier redemption flows, with more than $1.8 billion leaving the fund ahead of #1 weighted AAPL earnings, which will come tomorrow after the close. AAPL currently occupies a whopping 10.84% of QQQ’s holdings.

Disclaimer: The content of this article is excerpted from a daily newsletter from Street One Financial. While ETF Daily News may edit the contents and add a relevant title to the piece, the author, Paul Weisbruch, does not endorse or recommend any issuer or security mentioned herein.

About the Author: Paul Weisbruch

paul-weisbruchPaul Weisbruch is the VP of ETF/Options Sales and Trading at Street One Financial. Prior to joining the team at Street One, Paul served as the Director of RIA and Institutional ETF Sales at RevenueShares ETFs from December 2007 until November of 2009. Before RevenueShares, Paul was employed by Susquehanna International Group from 2000 until 2007 serving in roles including OTC/NYSE Institutional Block Trading, Nasdaq/OTC Market Making, ETF/Derivatives Intelligence and Strategy, Algorithmic Trading, as well as acting as the PHLX Floor Specialist in the ETFs, SPY and DIA.Paul has been actively involved in the ETF space from both a product and trading standpoint since 2000. Additionally, Paul has well forged relationships with national RIAs, institutional pension fund managers and consultants, mutual fund and hedge fund managers, and also the ETF media. Co-authoring the “S1F ETF Daily” since 2009, the daily piece has become a must for many portfolio managers in the ETF space, with segments regularly appearing in the likes of Barron’s, WSJ, and for instance.

He holds his Series 4 (Registered Options Principal), 6, 7, 55 (Equity Trader), 63, and 65 licenses. He graduated from the University of Pittsburgh (B.S. – Economics), graduating magna cum laude, and has an MBA from Villanova University.

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