What does the XAU options chain show right now?

As of Oct 14, 2026, PHLX Gold/Silver Sector Index (XAU) has 3.1K contracts outstanding and 2.0K traded today, with ATM IV of 41.4%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.

What expirations are available for XAU options?

The nearest expiration is 37 days out, followed by 65 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.

How tight are XAU options bid/ask spreads?

Average bid/ask spread across the chain is 38.37%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.

PHLX Gold/Silver Sector Index (XAU) Options Chain

The options chain displays all available contracts with end-of-day quotes, Greeks, volume, and open interest for each strike and expiration, and streams live quotes for traders who connect a broker. It is the primary tool for options trade selection.

Snapshot as of Oct 14, 2026.

Spot Price: $339.50
Total OI: 3.1K
Total Volume: 2.0K
Front Expiration: 37 days
Second Expiration: 65 days
ATM IV: 41.4%
Avg Bid/Ask Spread: 38.37%

As of Oct 14, 2026, PHLX Gold/Silver Sector Index (XAU) has 3.1K open contracts and 2.0K contracts traded. The nearest expiration is 37 days out, followed by 65 days. ATM implied volatility is 41.4%. Average bid/ask spread across the chain is 38.37%: wider spreads, size positions conservatively. The options chain aggregates every listed strike and expiration, letting traders evaluate skew, term structure, and liquidity in a single view.

How XAU options chain Data Feeds Strategy Selection

Strategy selection on PHLX Gold/Silver Sector Index options does not derive from any single metric in isolation. The options chain view above sits inside a broader read: ATM IV currently sits at 41.4% and dealer gamma exposure is negative, so dealer hedging amplifies directional moves. Combine the options chain 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.

How to read the XAU chain depth

The listed-expirations table below shows every expiration available for PHLX Gold/Silver Sector Index options with its days-to-expiration count and ATM implied volatility. Front-month expirations carry the most volume, the highest gamma, and the tightest bid-ask spreads; longer-dated tenors carry less liquidity but more vega exposure. XAU front expiration sits at 37 days - the typical hedging horizon for monthly options. The backwardated slope of -0.005 means near-dated IV is pricing acute event risk.

XAU chain mechanics and execution

Options are listed at standardized strike intervals (typically $1 for sub-$25 underlyings, $2.50-$5 for mid-cap, $10-$50 for large-cap), and the deltas of each listed strike are determined by where IV lies relative to the strike's moneyness. Average bid/ask spread on the XAU chain is 38.37% - a measure of liquidity. Tighter spreads on liquid strikes mean lower transaction costs; wider spreads on long-dated or far-OTM strikes mean execution drag can dominate the math. The chain table on the SPA side shows the full per-strike, per-expiration grid; this SSR page summarizes the listed expirations and the front-month context to anchor the structural read.

Using the XAU chain to build structures

Strategy selection starts with the chain: directional theses use single-leg calls or puts, range-bound theses use credit spreads or iron condors, vol theses use straddles or strangles, calendar theses use diagonal spreads. XAU's current 11.87% expected move anchors wing placement - structures with wings at the implied band collect the modal-outcome premium under lognormal assumptions. Cross-reference with the gamma-exposure profile to understand where dealer hedging will reinforce or fight your position, and with the volatility-skew chart to confirm the strikes you're trading sit at the IV levels your strategy assumes.

Learn how the options chain is reported and how to read the data →

XAU listed expirations

Per-expiration ATM implied volatility for XAU options. Each row is one listed expiration with its days-to-expiration count and ATM IV pulled from the same term-structure feed that powers the SPA's expiration filter. Front-month expirations carry the highest gamma, the tightest bid-ask spreads, and the most volume; longer-dated tenors carry less liquidity but more vega.

Expiration	DTE	ATM IV
Oct 16, 2026	2	46.5%
Nov 20, 2026	37	41.4%
Dec 18, 2026	65	40.9%
Dec 31, 2026	78	40.3%
Mar 19, 2027	156	40.6%
Mar 31, 2027	168	40.3%
Jun 17, 2027	246	40.8%
Jun 30, 2027	259	40.8%
Sep 30, 2027	351	40.9%

Frequently asked XAU options chain questions

What does the XAU options chain show right now?: As of Oct 14, 2026, PHLX Gold/Silver Sector Index (XAU) has 3.1K contracts outstanding and 2.0K traded today, with ATM IV of 41.4%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
What expirations are available for XAU options?: The nearest expiration is 37 days out, followed by 65 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
How tight are XAU options bid/ask spreads?: Average bid/ask spread across the chain is 38.37%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.