Looks like there’s some GLD options in them thar hills. Or something like that. This from Steven Sears in Barrons (hat tip EL).
ONE OF THE BEST THINGS about StreetTracks Gold Trust (GLD) is that it trades at about $86. It’s one of the worst things, too, because investors have not been able to use options to hedge and speculate on GLD’s journey from a 52-week low of $63.39 to a high of $100.44.
All of that is about to change.
After about four years of waiting, wanting, and whining, options on GLD could be listed as early as May 30, according to the Chicago Board Options Exchange.
CBOE, like other options exchanges, is waiting for the Securities and Exchange Commission to issue an approval order for what is arguably one of the most-anticipated options products to be launched in the past five years.
The introduction of options on GLD is expected to be followed by options on other commodities, such as silver, furthering blending the securities and commodities markets.
I plead guilty to some of the whining, so glad this may finally happen. Really glad in SLV, assuming that one comes next, just tough to trade heads on when it gaps $5-$7 at least one day each week.
