Bullish Gold Positioning Surges as $GLD Call-Put Open Interest Gap Nears 2-Year High

The gap between call and put open interest on the gold ETF ($GLD) hit approximately 2.4 million contracts this week, its highest level since February, according to the post.
The gap has widened by about 1.0 million contracts since Japan's intervention to support the yen three weeks ago, with the increase accelerating after the U.S. Treasury unexpectedly doubled its planned buybacks of long-dated government debt on Wednesday. That level is more than triple the 2021-2024 average of roughly 0.8 million contracts, though still below the roughly 2.8 million contracts recorded in January and February, when gold prices first surpassed $5,500 per ounce.
The post attributes the shift to renewed macro and currency uncertainty driving investors to increasingly bet on gold's rise.