GLD Options History — April 2018

In April 2018, GLD traded between $124.78 and $128.08. ATM implied volatility averaged 10.9%, placing in the 38.9% IV rank vs the trailing year. The 30-day expected move averaged 3.1%. IV traded below realized volatility by 1.0% (HV 20d: 11.9%). Max pain ranged from $125.50 to $128.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.73.

Notable Days

2018-04-11: Highest Volume — 329,110 contracts
2018-04-11: Largest IV spike — 11.8% change
2018-04-18: Highest IV Rank — 56.1%
2018-04-11: Largest Expected Move — 3.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$126.58	$124.78	$128.08	$127.30	$124.78
Max Pain	$126.83	$125.50	$128.00	$125.50	$126.00
ATM IV	10.9%	9.6%	12.4%	11.2%	9.7%
Expected Move	3.1%	2.7%	3.5%	3.2%	2.8%
HV 20d	11.9%	9.4%	13.2%	12.3%	9.4%
HV 60d	11.4%	11.2%	11.5%	11.3%	11.3%
IV Rank	38.9%	23.5%	56.1%	37.1%	26.7%
IV Percentile	62.8%	15.5%	91.7%	71.8%	16.3%
Term Structure	-0.0%	-0.2%	0.2%	-0.0%	0.0%
VWIV	12.0%	10.4%	13.7%	12.3%	10.9%
Skew 25d	-2.3%	-3.5%	-1.3%	-2.1%	-1.4%
Skew 10d	-4.2%	-6.3%	-2.5%	-4.0%	-2.5%
Call IV 25d	12.7%	10.8%	15.0%	12.9%	10.8%
Put IV 25d	10.4%	9.2%	11.5%	10.7%	9.4%
Bid-Ask Spread %	5.79	1.94	8.15	6.77	5.98
Gamma HHI	0.08	0.07	0.11	0.08	0.07
Net GEX	465.3M	202.5M	772.2M	459.9M	209.8M
Net DEX	-3.70B	-5.57B	-1.62B	-4.03B	-1.62B
Net VEX	-32.1M	-34.5M	-29.7M	-31.3M	-29.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.73	0.35	1.04	0.67	0.58
Total Volume	169,935.762	114,249	329,110	171,817	127,064
Total OI	2,456,491.238	2,149,967	2,822,487	2,149,967	2,532,169

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2018-04-02	$127.30	$125.50	11.2%	3.2%	12.3%	37.1%	12.3%	-2.1%	-0.0%	459.9M	-4.03B	-31.3M	0.67	6.77	102,998	68,819	1,388,233	761,734
2018-04-03	$126.27	$125.50	10.5%	3.0%	12.7%	28.1%	10.7%	-1.7%	-0.0%	408.7M	-3.09B	-30.8M	0.90	6.41	63,007	56,645	1,429,772	775,487
2018-04-04	$126.41	$125.50	10.7%	3.0%	12.1%	30.3%	11.9%	-1.8%	-0.0%	435.6M	-3.27B	-31.0M	0.62	6.55	83,992	52,452	1,445,605	783,907
2018-04-05	$125.74	$128.00	10.2%	3.0%	12.0%	23.5%	11.4%	-1.3%	0.0%	332.7M	-2.50B	-30.4M	1.01	3.98	60,813	61,631	1,454,391	789,230
2018-04-06	$126.43	$128.00	10.6%	3.0%	12.1%	29.9%	11.1%	-1.8%	-0.1%	432.7M	-3.28B	-30.7M	0.71	5.45	113,519	80,294	1,469,789	797,479
2018-04-09	$126.70	$128.00	10.8%	3.1%	12.2%	31.3%	11.4%	-2.1%	0.1%	476.4M	-3.70B	-30.9M	0.84	4.44	62,914	52,903	1,469,228	800,108
2018-04-10	$127.12	$128.00	11.1%	3.2%	12.2%	35.7%	13.4%	-2.7%	-0.0%	545.7M	-4.31B	-31.2M	0.38	5.05	157,413	60,418	1,483,489	802,046
2018-04-11	$128.08	$128.00	12.4%	3.5%	12.4%	53.2%	12.9%	-3.4%	-0.1%	721.4M	-5.57B	-32.5M	0.59	8.15	206,713	122,397	1,598,008	812,870
2018-04-12	$126.57	$128.00	11.4%	3.3%	13.2%	39.6%	12.3%	-2.7%	0.1%	475.4M	-3.72B	-33.4M	0.66	5.81	133,705	87,573	1,650,541	852,227
2018-04-13	$127.52	$127.00	11.9%	3.4%	13.2%	46.4%	13.1%	-3.5%	0.2%	625.7M	-4.98B	-34.5M	0.75	7.04	91,142	67,996	1,695,776	867,372
2018-04-16	$127.65	$127.00	11.8%	3.4%	13.2%	44.7%	13.2%	-3.2%	-0.2%	672.9M	-5.13B	-33.3M	0.68	6.55	88,887	60,083	1,671,527	851,900
2018-04-17	$127.73	$127.00	11.7%	3.4%	13.2%	44.7%	13.7%	-3.2%	-0.2%	683.2M	-5.23B	-33.0M	0.35	1.94	170,517	59,052	1,688,253	861,209
2018-04-18	$127.83	$127.00	12.0%	3.5%	13.0%	56.1%	12.7%	-3.4%	-0.0%	772.2M	-5.52B	-33.5M	0.78	6.71	118,018	91,545	1,787,422	870,765
2018-04-19	$127.57	$127.00	11.6%	3.3%	11.4%	52.8%	12.4%	-2.9%	-0.2%	723.6M	-5.30B	-33.7M	1.04	6.28	97,835	101,358	1,841,819	910,128
2018-04-20	$126.66	$127.00	10.7%	3.1%	11.6%	37.9%	11.9%	-2.7%	-0.2%	391.4M	-4.04B	-32.7M	0.84	5.64	110,908	92,772	1,875,849	946,638
2018-04-23	$125.54	$127.00	10.7%	3.1%	11.1%	38.6%	11.4%	-2.1%	-0.1%	295.1M	-2.45B	-32.2M	0.78	4.74	93,476	72,826	1,629,285	816,713
2018-04-24	$126.29	$126.00	10.9%	3.1%	11.2%	53.7%	12.2%	-2.3%	-0.1%	399.1M	-3.30B	-33.1M	0.71	6.14	66,677	47,572	1,653,375	839,681
2018-04-25	$125.48	$126.00	10.5%	3.0%	11.2%	44.8%	11.1%	-2.1%	-0.1%	284.9M	-2.48B	-32.5M	0.79	6.92	73,205	57,501	1,674,228	853,650
2018-04-26	$124.91	$126.00	10.1%	2.9%	10.1%	35.4%	10.6%	-1.5%	0.0%	202.5M	-1.76B	-31.7M	0.93	5.51	65,098	60,233	1,701,134	865,998
2018-04-27	$125.50	$126.00	9.6%	2.7%	10.3%	25.9%	10.4%	-1.7%	0.1%	223.0M	-2.45B	-31.7M	0.65	5.61	76,965	49,715	1,714,001	873,280
2018-04-30	$124.78	$126.00	9.7%	2.8%	9.4%	26.7%	10.9%	-1.4%	0.0%	209.8M	-1.62B	-29.7M	0.58	5.98	80,509	46,555	1,677,722	854,447