GLD Options Traders Turn Bearish, With June 2028 Put Betting on 40% Drop

Options traders in the SPDR Gold Shares (GLD) ETF have turned sharply bearish, with a popular June 2028 put implying a wager that GLD falls about 40% from current levels. According to BeInCrypto, $200 million in GLD options premium traded Wednesday, with $130 million tied to puts; eight of the 10 most active contracts were puts and most were bought. GLD is down 25% from its February intraday record, while gold has fallen 26.5% since its January peak, erasing $9.75 trillion in market value.