GLD June 400 calls: small upside exposure near support

Buy June $400 calls as a small gold-recovery position. This contract recorded $14.37M of ask-side buying, with open interest rising about 36%, although the latest large print was a sale. Shares sit near $363 support; longer-dated volatility has no obvious event spike. The downtrend remains intact, and dollar strength or higher real yields could prevent a recovery.

• GLD, long call, 2-4 months, opened Oct 26, 2026. It closed at -22.9%.

Updated 2026-11-02 17:49 UTC