“Options volumes in iPath S&P 500 VIX Short Term Futures ETN (NYSEArca: VXX) reached new heights [Monday], with nearly 500,000 put contracts trading and 241k calls. We have noted in the past week or so the presence of put buyers in VXX, and it is likely that some of the activity yesterday is closing activity with options players cashing in on in the money puts as the ETN sunk further to recent lows yesterday on extremely heavy volume,” said Weisbruch at Street One. [Volatility ETFs Thumped on VIX Multiyear Low, Contango]
Separately, bullish call buyers have been active in SPDR Gold Shares (NYSEArca: GLD). The bullion ETF is higher this week following dovish comments from Federal Reserve Chairman Ben Bernanke. [Gold ETFs Rise]
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.