SPDR Gold Shares (GLD) Options Greeks
Options Greeks measure sensitivity to various factors: Delta (price), Gamma (delta change), Theta (time decay), and Vega (volatility). They are essential for risk management and position sizing.
SPDR Gold Shares (GLD) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $155.84B, listed on AMEX, carrying a beta of 0.16 to the broader market. The investment objective of SPDR Gold Trust (the "Trust") is for the shares to reflect the performance of the price of gold bullion, less the Trust's expensesThe first US traded gold ETF and the first US-listed ETF backed by a physical assetFor many investors, the costs associated with buying GLD shares in the secondary market and the payment of the Trust's ongoing expenses may be lower than the costs associated with buying, storing and insuring physical gold in a traditional allocated gold bullion account public since 2004-11-18.
Snapshot as of May 15, 2026.
- Spot Price
- $418.08
- Net Gamma
- $420.6M
- Net Delta
- -$13.43B
- Net Vega
- -$236.0M
- ATM IV
- 23.3%
- Gamma Concentration
- 0.03
As of May 15, 2026, SPDR Gold Shares (GLD) aggregate Greeks are net delta -$13.43B, net gamma $420.6M, net vega -$236.0M, ATM IV 23.3%. Gamma concentration is 0.03: gamma is more dispersed, reducing any single-strike pinning force. Delta measures directional exposure, gamma measures the rate of delta change, and vega measures sensitivity to implied volatility. Net aggregate Greeks summarize the total dealer book across all strikes and expirations.
How GLD options greeks Data Feeds Strategy Selection
Strategy selection on SPDR Gold Shares options does not derive from any single metric in isolation. The options greeks view above sits inside a broader read: ATM IV currently sits at 23.3% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the options greeks data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how options Greeks is reported and how to read the data →
Frequently asked GLD options greeks questions
- What are the GLD aggregate Greek exposures?
- As of May 15, 2026, SPDR Gold Shares (GLD) snapshot Greeks are net delta -$13.43B, net gamma $420.6M, net vega -$236.0M. These aggregate the dealer book across all listed strikes and expirations under the standard customer-versus-dealer sign convention.
- What does the GLD net dealer delta tell us?
- Net dealer delta of -$13.43B represents the directional exposure dealers carry from their option inventory. Dealers continuously hedge this exposure with stock, futures, or correlated instruments, so the size of net delta is also the size of hedge flow that will execute as spot moves.
- How do GLD Greeks inform hedging?
- Delta tracks first-order directional exposure; gamma tracks how quickly delta changes; vega tracks IV sensitivity. Aggregated dealer Greeks let traders read the dealer-positioning regime: long-gamma regimes mean-revert moves; short-gamma regimes amplify them. Vega exposure indicates how dealer P&L responds to vol shocks and hence the direction of vol-shock hedging flows.