Mostly: Classical

[amarksp]

but there is a good chance we could see some unusual volatility over the next two or three trading sessions. Looking ahead at the calendar, it is very important to notice the options expiry date for December gold and silver contracts. With the shortened trading week next week due to the Thanksgiving Holiday, December gold and silver options will expire on Tuesday November 22. Investors have been buying the December calls throughout the year, and there is a MOUNTAIN of call options out there. Between the strike prices of $440 and $490 there are 49,750 call options. Each option represents 100 ounces of gold, therefore after rounding, there is well in excess of FIVE MILLION ounces of gold on option for the December contract. The $450 strike price alone has 10,510 calls against it. At $470, $475, and $480 there are approximately 6,000 calls at each strike price. In the next few trading days, every five dollars up or down is a very big deal. If the call writers can cram the price down into options expiry next week, they can save themselves many millions of dollars!