11422 GLD Mar 115/125 call spreads over Mar 110 puts went up in 3 blocks on the AMEX

Shares of SPDR Gold Trust (GLD) are up 1.08 to 114.58 today. GLD is in the middle of the 52 week range.

• Paper traded 11422 GLD Mar 115/125 call spreads over Mar 110 puts for 2.31 and 1.03. 
• The ADV is 156k per day. 
• The OI is 16187/42315 and 10462 contracts.

The volume went up in 3 blocks on the AMEX marked spread.  Pricing looks like buying the Mar 110 puts and selling the calls spreads.It could be a roll out of long calls spreads to puts but the puts are opening.It could be a cover on existing GLD shares for a nice credit which would make sense after the rally.  

• IV 30 is trading 36%. 
• HV10 is trading for 30%. 
• IV 30 is trading above the HV 10.

SPDR Gold Trust (the Trust) is an investment trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust's expenses.