SPDR Gold Options Traders Betting On Stock Surging This Much By May Expiration

Gold futures rose sharply on Monday amid the regional banking crisis, with SPDR Gold Shares GLD also settling higher during the session.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said SPDR Gold Shares traded at 6.9 times the average daily call volume on Monday.

There were buyers of 49,400 of the May 185/200-call spreads at an average price of $2.25 per contract, Khouw mentioned.

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The trader expects GLD to surge as much as 12.5% by May expiration.

Price Action: SPDR Gold gained 2.3% to close at 177.86 on Friday.

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