Unusual dark pool activity was detected in GDX stock in after-hours trading on December 30, 2019.

The large dark pool order looks like a buy order because of how the price of GDX responded immediately after the print. Also, bullish options flow was detected in GDX stock which suggests the institutional trader was front-running the unusually large dark pool order.

Back on December 11, 2019, TheFly reported that a gold bull laid out $2.4M for 100-day upside vertical. Customer paid 53c for 45K March 30/33 call spreads on NYSE-Arca as the underlying ETF traded at $27.81. Both legs open, with the high strike currently 19% out of the money. If GDX were to reach that strike by expiry, the position would be worth $13.5M.

This is the seasonally strong time of year for gold which spans from mid-December through mid-February.


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