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Home/News Feed/Trader bets on gold crash with big options trade amid fading rate cut hopes.

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Trader bets on gold crash with big options trade amid fading rate cut hopes.

Market News

29 Apr 2026

CNBC

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Bearish

A trader executed a large options trade betting on a significant drop in gold prices by mid-July, selling calls and buying puts on the SPDR Gold ETF (GLD). This contrarian move comes as gold struggles after a strong rally, with GLD falling from its all-time high of $510 to around $419. The trade reflects concerns over fading hopes for near-term interest rate cuts, influenced by higher oil prices and uncertainty around the Federal Reserve's policies. If GLD stays below $450 by July expiration, the trader profits, signaling skepticism about gold's short-term outlook.

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