GLD Options History — February 2009

In February 2009, GLD traded between $88.32 and $97.80. ATM implied volatility averaged 35.5%, placing in the 30.2% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded above realized volatility by 6.3% (HV 20d: 29.2%). Max pain ranged from $85.00 to $92.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 19 of 19 days. Put/call ratio averaged 0.53.

Notable Days

  • 2009-02-20: Highest Volume — 386,358 contracts
  • 2009-02-12: Largest IV spike — 13.6% change
  • 2009-02-18: Highest IV Rank — 39.7%
  • 2009-02-18: Largest Expected Move — 11.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$92.63$88.32$97.80$88.84$92.63
Max Pain$88.95$85.00$92.00$85.00$91.00
ATM IV35.5%31.4%39.9%35.3%35.3%
Expected Move10.4%9.5%11.4%10.1%10.1%
HV 20d29.2%25.0%34.0%34.0%27.4%
HV 60d32.3%28.2%34.6%34.6%28.2%
IV Rank30.2%21.5%39.7%29.9%29.8%
IV Percentile51.6%39.5%65.4%48.8%48.4%
Term Structure2.2%1.3%3.6%2.9%2.4%
VWIV37.4%34.3%40.7%38.6%35.9%
Skew 25d-3.1%-5.0%-0.4%-3.4%-0.6%
Skew 10d-6.0%-9.7%0.7%-7.1%-1.4%
Call IV 25d38.9%34.8%43.9%38.1%36.1%
Put IV 25d35.8%32.6%38.9%34.7%35.5%
Bid-Ask Spread %12.568.7716.0412.6213.71
Gamma HHI0.100.070.170.120.07
Net GEX137.1M70.7M242.8M81.2M70.7M
Net DEX-3.30B-6.08B-1.86B-1.93B-2.38B
Net VEX-24.2M-30.5M-16.7M-16.7M-30.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.530.131.020.460.65
Total Volume169,612.36897,883386,358142,822158,834
Total OI1,628,235.4211,074,8541,934,6061,074,8541,903,328

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-02-02$88.84$85.0035.3%10.1%34.0%29.9%38.6%-3.4%2.9%81.2M-1.93B-16.7M0.4612.6297,88944,933744,082330,772
2009-02-03$88.47$85.0034.1%9.8%33.1%27.3%37.5%-2.8%2.6%82.6M-1.86B-17.1M0.1315.32176,74722,478777,240354,616
2009-02-04$89.18$85.0033.2%9.5%33.1%25.3%35.2%-2.8%3.6%102.7M-2.12B-17.8M0.1613.71119,79519,005892,833363,142
2009-02-05$90.12$85.0033.3%9.6%31.1%25.6%34.3%-2.2%3.3%128.2M-2.55B-18.9M0.4716.04133,87062,773982,163373,779
2009-02-06$89.59$88.0031.4%10.5%30.7%21.5%36.8%-4.5%1.5%131.9M-2.57B-21.5M1.0210.0057,28258,4151,078,103422,116
2009-02-09$88.32$88.0032.0%10.1%31.1%22.9%37.0%-4.5%1.9%101.1M-1.99B-21.5M0.1511.43139,49421,2031,098,171472,058
2009-02-10$90.21$88.0031.6%10.1%27.7%21.9%35.5%-3.7%1.3%147.1M-2.73B-22.4M0.7712.5455,37642,5071,125,315479,428
2009-02-11$92.29$89.0032.7%10.5%28.4%24.4%37.3%-3.9%1.5%170.3M-3.48B-22.9M0.308.77148,50444,3571,126,204504,368
2009-02-12$93.17$90.0037.2%10.7%27.3%33.9%37.5%-4.3%1.8%177.7M-3.84B-23.8M0.4511.48101,41145,5561,145,583517,711
2009-02-13$92.55$90.0035.2%10.1%27.8%29.7%36.0%-3.9%2.6%185.3M-3.68B-24.5M0.7412.1660,19944,4381,198,235539,892
2009-02-17$95.45$90.0039.5%11.3%28.1%38.8%39.9%-3.9%1.8%222.2M-4.87B-24.8M0.5912.8692,08254,1501,202,151559,194
2009-02-18$96.91$90.0039.9%11.4%27.7%39.7%40.7%-5.0%1.7%222.3M-5.51B-25.9M0.7712.40117,76790,4201,242,811585,665
2009-02-19$95.77$90.0036.4%10.4%28.2%32.3%36.7%-3.9%2.4%242.8M-4.97B-25.8M0.3911.69122,38647,4171,274,976621,661
2009-02-20$97.80$90.0037.2%10.7%28.7%34.0%38.2%-3.4%2.5%195.8M-6.08B-26.8M0.5013.13257,838128,5201,310,878623,728
2009-02-23$97.73$91.0038.8%11.1%25.0%37.4%39.7%-2.3%1.6%103.6M-3.93B-29.3M0.8110.2564,88952,5681,102,635547,374
2009-02-24$94.73$91.0036.8%10.6%28.1%33.1%37.7%-1.7%2.5%89.3M-3.05B-29.3M0.4912.17144,37771,3821,142,514569,081
2009-02-25$93.15$92.0037.8%10.8%28.8%35.1%38.9%-0.4%1.3%77.3M-2.62B-30.5M0.6114.76104,53963,8511,234,438610,398
2009-02-26$93.06$92.0036.2%10.4%28.4%31.8%37.0%-1.8%1.7%72.6M-2.46B-30.3M0.6413.6995,02960,3541,237,555642,275
2009-02-27$92.63$91.0035.3%10.1%27.4%29.8%35.9%-0.6%2.4%70.7M-2.38B-30.5M0.6513.7196,54962,2851,245,231658,097