With gold near August lows, traders bet on more pain for one mining stock $AEM (via OptionsAction)
on Tuesday after falling nearly 4% in the last week on rising optimism around trade talks. Still up nearly 16% for the year, gold has seen elevated inflows in recent months as investors flocked to the historically "safe" asset amid broader uncertainty in the stock market.
"The buyer of those puts is obviously making a bet that the stock's going to decline below that $50 strike price by at least the $1.20 that they paid," Khouw said.
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