Big-ass gold trade?

Discussion in 'Options' started by Overnight, Sep 21, 2023.

  1. Overnight

    Overnight

    Saw this in an article about a gold trade from yesterday

    GS...
    We saw a cust sell 75,000 Oct 180 190 call spread to buy 75,000 Nov 185 195 call spread and sell 37,000 Nov 175 puts.

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    UBS...

    "Someone is rolling 1m area 180/190 call spread (in-the-money call spread) into 2m area, 185/195 out-the-money call spread and selling 2m (ish) 175 puts to partially finance. Size in OTC equivalent is 750k per leg on the call spreads and 370k on the outright put. Net that's a purchase of ~500k vega of front end optionality."

    I'm assuming those two are the same trade? And am I right in thinking this is basically a bullish view in Gold for November?