David Bartosiak's Market Vectors Junior Gold Miners ETF Trade

Speaking on Bloomberg Markets, David Bartosiak of Zacks.com said that gold had a really sharp move higher since June and he added that he's looking to fade a move in gold. He thinks it's a part of the Brexit trade and the "risk off" trade.

He wants to use Market Vectors Junior Gold Miners ETF GDXJ to bet against the uptrend in gold and his strategy involves selling the July 48.50/49.50 call spread for $0.45. If the stock trades below $48.50 at the July expiration, Bartosiak is going to make a profit of $0.45. If it trades above $48.95, he's going to start to lose money and his maximal loss is $0.55.