GLD Options History — November 2009

In November 2009, GLD traded between $103.95 and $116.62. ATM implied volatility averaged 20.8%, placing in the 16.1% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 4.8% (HV 20d: 16.0%). Max pain ranged from $100.00 to $105.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.67.

Notable Days

  • 2009-11-23: Highest Volume — 379,289 contracts
  • 2009-11-03: Largest IV spike — 15.1% change
  • 2009-11-27: Highest IV Rank — 27.7%
  • 2009-11-27: Largest Expected Move — 6.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$110.67$103.95$116.62$103.95$115.64
Max Pain$102.10$100.00$105.00$102.00$105.00
ATM IV20.8%17.7%23.8%18.8%23.4%
Expected Move6.0%5.4%6.8%5.4%6.7%
HV 20d16.0%13.7%17.3%16.8%14.5%
HV 60d15.4%15.1%15.7%15.2%15.2%
IV Rank16.1%7.0%27.7%8.9%26.6%
IV Percentile34.6%13.5%54.8%21.0%53.2%
Term Structure0.6%0.2%1.4%1.0%0.2%
VWIV21.7%19.6%24.6%19.8%24.6%
Skew 25d-0.4%-1.5%0.9%-0.2%0.8%
Skew 10d-0.2%-2.8%2.4%0.7%2.0%
Call IV 25d21.9%19.7%24.0%19.7%23.7%
Put IV 25d21.5%19.1%24.9%19.5%24.5%
Bid-Ask Spread %3.802.925.314.423.41
Gamma HHI0.090.070.140.080.08
Net GEX412.0M268.4M563.8M268.4M520.0M
Net DEX-10.55B-13.49B-5.79B-5.79B-13.21B
Net VEX-45.5M-54.1M-40.1M-40.1M-53.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.271.200.980.94
Total Volume236,635.198,630379,289219,645175,689
Total OI3,760,447.83,153,5644,235,3063,153,5644,235,306

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-11-02$103.95$102.0018.8%5.4%16.8%8.9%19.8%-0.2%1.0%268.4M-5.79B-40.1M0.984.42110,967108,6782,017,0221,136,542
2009-11-03$106.46$102.0021.7%6.2%16.7%16.6%22.4%-0.4%0.5%300.5M-7.74B-43.3M0.654.45176,070114,1482,063,7951,212,165
2009-11-04$107.10$102.0021.8%6.2%16.7%18.4%22.6%-1.1%0.8%325.3M-8.20B-43.8M0.895.31148,791132,8852,113,7571,257,913
2009-11-05$106.98$102.0019.1%5.5%16.3%11.1%19.6%-1.0%1.1%352.5M-8.19B-43.4M0.543.5191,79249,6342,169,7291,318,942
2009-11-06$107.43$100.0017.7%5.5%16.0%7.0%19.7%-1.5%0.8%380.8M-8.61B-42.5M0.414.7099,09140,4612,200,8351,335,303
2009-11-09$108.19$100.0018.8%5.6%16.0%10.2%19.9%-1.0%0.5%400.7M-9.11B-41.1M0.604.32134,79281,0142,216,6251,362,745
2009-11-10$108.39$100.0018.5%5.6%15.9%9.2%20.2%-1.4%0.6%416.2M-9.15B-42.8M0.373.6372,02426,6062,236,5661,398,321
2009-11-11$109.60$100.0018.9%5.8%16.2%10.3%20.4%-1.4%0.4%440.0M-10.30B-41.4M0.464.03112,03851,5882,263,6651,399,176
2009-11-12$108.21$100.0020.5%5.9%16.2%15.0%21.7%-1.1%0.2%411.9M-9.07B-44.1M1.193.4978,26993,1462,310,0451,426,219
2009-11-13$109.74$100.0019.8%5.7%16.7%13.0%20.4%-0.2%0.7%445.9M-10.34B-42.5M1.202.9287,123104,4452,321,6861,474,357
2009-11-16$111.63$100.0021.7%6.2%17.3%18.5%22.5%-0.4%0.5%455.4M-11.82B-43.5M0.653.59166,609108,3652,344,4841,503,821
2009-11-17$111.97$102.0020.9%6.0%16.7%16.1%21.2%-0.5%0.8%437.1M-11.96B-43.9M0.493.40191,03794,0942,373,7801,547,186
2009-11-18$112.25$103.0021.6%6.2%16.7%18.0%22.1%-0.6%0.6%469.6M-12.68B-46.6M0.623.71203,209125,9782,478,5851,581,203
2009-11-19$112.30$103.0021.3%6.1%16.8%17.4%21.8%-0.3%0.6%454.3M-12.58B-45.7M0.554.05151,00982,8822,525,2931,639,031
2009-11-20$112.94$103.0021.8%6.3%16.5%18.7%22.5%-0.3%0.8%563.8M-13.04B-48.3M0.923.61140,613128,9302,564,6141,659,183
2009-11-23$114.29$103.0022.7%6.5%14.9%21.1%23.2%0.1%0.4%388.2M-11.56B-48.5M0.563.27242,905136,3842,307,7451,355,072
2009-11-24$114.73$105.0020.6%5.9%14.7%15.3%21.3%0.4%1.4%404.5M-11.66B-50.2M0.782.98106,75183,4772,389,7501,442,558
2009-11-25$116.62$105.0022.6%6.5%13.7%22.7%23.3%0.2%0.7%414.3M-13.49B-50.2M0.413.05268,158111,0232,455,4721,471,758
2009-11-27$115.06$105.0023.8%6.8%14.8%27.7%24.1%0.9%0.2%391.5M-12.47B-54.1M0.274.15237,03364,9942,565,1471,533,560
2009-11-30$115.64$105.0023.4%6.7%14.5%26.6%24.6%0.8%0.2%520.0M-13.21B-53.6M0.943.4190,48585,2042,691,7601,543,546