GLD

Put this on the watchlist. As you know, options are finally available on GLD and surprisingly, even though they're brand new, the spreads are relatively tight (about $0.10). And they trade at every point.

Check out the Open Interest around the Jul 90 Calls.

And of course the chart itself.

These continuation patterns, as you can see, generally resolve themselves in the direction of the overall existing trend but to reduce risk it's necessary to establish some sensible entry/exit points. i.e. a breakout above/below the upper/lower trendline and then a stop on the opposite side of said trendline. GLD will be something to keep your eye on ahead of this weeks Fed meeting and with regards to further inflation concerns.

Open Interest ahead of the Fed

Not everyone is on the sidelines to 'wait and see' what the Fed does. Here are a couple of screenshots that highlight open interest at a critical time (rate cuts, S&P at 1400, etc).
1) A list of stocks with the highest open interest
2) A list of options with the highest open interest

The difference is that the first list shows the total open interest of all options associated with the stock (i.e. S & P 500 INDEX). The second list shows the specific option in the option chain with the highest open interest (i.e. SPY MAY 132.00 P).

The first list can be used to get an idea of what stock/index option traders are hedging/speculating on, while the second list can sometimes provide an idea of the magnitude in the expected move of the underlying - think back to March, when there was an explosion of deep out-of-the-money BSC Puts.