Eton Park Capital Management, the hedge fund firm founded by Eric Mindich, is once again making big bets on the price of gold.

The firm purchased 3.59 million shares of the SPDR Gold Trust during the first quarter for a $422 million stake, a new position, according to a regulatory filing Monday. In addition, the fund bought call options on SPDR Gold Trust shares with a face value of more than $700 million and put option contracts with a notional value of about $617 million, the filing shows.