Mining ETF to Target as Gold Prices Rise

GLD yesterday came within a chip shot of its record highs

Deputy Editor
Mar 9, 2022 at 3:17 PM
facebook X logo linkedin

Commodity prices have turned red-hot since Russia's invasion of Ukraine, as investors turn to safe-haven assets while supply concerns linger. One name that's experienced an exceptional rise on the charts recently is gold mining exchange traded fund (ETF) SPDR Gold Shares (GLD), which yesterday came within a hair's breadth of its Aug. 6, 2020 all-time high of $194.45. Unsurprisingly, this lines up with gold's surge toward it's own August 2020 all-time high, with gold prices just yesterday rising above the key $2,000 level.

Though GLD was last seen down 2.4% to trade at $186.92, and falling just below the +10% year-to-day breakeven level, the security boasts a 16.2% year-over year lead. February also saw SPDR Gold Shares stock nab its best month since May 2021, adding 6.1% as it was guided higher by the short-term 10-day moving average.

GLD Chart March 9

Call traders have ramped up their positions on the stock, too. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock sports a 10-day call/put volume ratio of 4.80, which stands higher than all other readings from the past year. This implies a healthier-than-usual appetite for calls of late. 

Short interest has also risen along with the stock. In fact, short interest added 47.2% in the most recent reporting period, and makes up 3.4% of the stock's available float. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI