6798 JNUG Jan13 7/9 call spreads went up in two blocks on the AMEX

Shares of Direxion Daily Junior Gold Minors (JNUG) are up 1.01 to 8.58.  JNUG is in the lower end of the 52 week range.

• Paper traded 6798 JNUG Jan13 7/9 call spreads for 1.00. 
• The ADV is 13k contracts. 
• The open interest is 11K and 1400 contracts.

The volume went up in two blocks on the AMEX marked spread.This trade is most likely a call rollup from the 7s to the 9s with a very short term outlook.There is huge open interest on the 7s so the trader is trying to ride it higher with the big pop in the stock.

• IV 30 is trading for 196%. 
• HV10 is trading for 225%. 
• IV 30 is below the HV 10.

JNUG is the Junior Gold Miner index that is levered to the upside.