GLD (GOLD) is on a Gap Mode

Large gaps are not sustainable for long periods of time, so usually they are followed by a counter wave. After the counter wave is done the stock will continue to go down trend or be flat for period of time. This counter wave gives an opportunity for option traders to buy contracts at cheaper premium. Also to put into consideration is that April options expiration date is approaching, which also influences options to get cheaper according to my friend JR.
Sources;

investopedia.com/terms/g/gap.asp
onlinetradingconcepts.com/TechnicalAnalysis/Candlesticks/Windows.html