COMEX Gold Options Speculation

There is an increasing amount of chatter regarding a surge in open interest for deeply out-of-the-money options on COMEX gold. Whether or not there's anything substantial behind these speculative trades remains to be seen. COMEX Gold Options Open Interest And Market Speculation Let's start with what we know. Below is a screenshot from the CME website that shows total open interest in call options on Dec26 COMEX gold. As I type, that contract is trading at about $4100, but as you can see, there are a substantial number of open call options from $10,000 to $20,000. For these to be...