We have seen call activity in Market Vectors Gold Miners (NYSEArca: GDX) over the past few weeks, as these options players have surfaced periodically during the recent run up in Gold prices and related Miners.

Earlier this year, many market observers lamented that the Miners were not participating with Gold spot prices, as ETFs like GDX were truly down in the dumps in terms of performance.

GDX has rallied a substantial 31.7% from early July lows and is now firmly up 6.53% YTD versus SPDR Gold (NYSEArca: GLD) having risen 12.99% during this same time period. GDX currently is by far the largest fund in its sub-category, holding $10.5 billion in assets.

Other funds in this space that have rallied substantially recently include Market Vectors Junior Gold Miners (NYSEArca: GDXJ), PowerShares Global Gold and Precious Metals Portfolio (NasdaqGM: PSAU), iShares MSCI Global Gold Miners (NYSEArca: RING) and Global X Pure Gold Miners (NYSEArca: GGGG).

For those looking to incorporate leverage into directional trading strategies in the Miners space, Direxion Daily Gold Miners Bull 3X (NYSEArca: NUGT) and Direxion Daily Gold Miners Bear 3X (NYSEArca: DUST) offer such exposure.