GLD Options History — January 2019

In January 2019, GLD traded between $121.03 and $124.81. ATM implied volatility averaged 9.6%, placing in the 21.5% IV rank vs the trailing year. The 30-day expected move averaged 2.8%. IV traded above realized volatility by 1.0% (HV 20d: 8.5%). Max pain ranged from $117.00 to $120.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.91.

Notable Days

2019-01-03: Highest Volume — 255,307 contracts
2019-01-04: Largest IV drop — 12.3% change
2019-01-03: Highest IV Rank — 64.6%
2019-01-03: Largest Expected Move — 3.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$122.21	$121.03	$124.81	$121.23	$124.81
Max Pain	$119.67	$117.00	$120.00	$117.00	$119.00
ATM IV	9.6%	8.8%	11.5%	10.8%	9.2%
Expected Move	2.8%	2.6%	3.3%	3.1%	2.7%
HV 20d	8.5%	6.9%	9.3%	8.1%	8.5%
HV 60d	8.7%	8.2%	9.8%	9.8%	8.2%
IV Rank	21.5%	5.1%	64.6%	48.6%	14.2%
IV Percentile	24.1%	1.2%	90.1%	75.8%	10.7%
Term Structure	0.1%	-0.0%	0.2%	0.0%	0.1%
VWIV	10.1%	9.3%	11.8%	11.0%	9.8%
Skew 25d	-1.3%	-2.8%	-0.4%	-2.5%	-1.3%
Skew 10d	-2.2%	-4.7%	-0.4%	-4.2%	-2.4%
Call IV 25d	10.7%	9.4%	13.5%	12.7%	10.2%
Put IV 25d	9.4%	8.9%	10.6%	10.3%	8.9%
Bid-Ask Spread %	2.94	2.15	4.02	3.57	2.61
Gamma HHI	0.09	0.07	0.18	0.07	0.11
Net GEX	603.5M	420.6M	696.8M	619.1M	687.4M
Net DEX	-6.54B	-8.02B	-3.83B	-6.31B	-8.02B
Net VEX	-30.6M	-32.3M	-27.7M	-27.7M	-31.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.91	0.46	2.32	0.63	0.73
Total Volume	144,682.333	61,910	255,307	190,428	139,489
Total OI	2,692,131.429	2,112,077	3,236,580	2,615,173	2,356,315

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
2019-01-02	$121.23	$117.00	10.8%	3.1%	8.1%	48.6%	11.0%	-2.5%	0.0%	619.1M	-6.31B	-27.7M	0.63	3.57	116,702	73,726	1,762,335	852,838
2019-01-03	$122.26	$118.00	11.5%	3.3%	8.2%	64.6%	11.8%	-2.8%	0.1%	669.1M	-7.40B	-29.0M	1.05	2.85	124,660	130,647	1,809,533	900,148
2019-01-04	$121.49	$119.00	10.1%	2.9%	8.7%	33.2%	11.0%	-2.0%	0.0%	629.2M	-6.77B	-28.9M	0.60	2.32	154,947	92,356	1,847,190	947,070
2019-01-07	$121.78	$120.00	10.0%	2.9%	8.7%	32.2%	10.8%	-1.6%	0.1%	635.7M	-7.04B	-29.6M	0.46	2.84	71,524	32,587	1,872,296	944,900
2019-01-08	$121.44	$120.00	9.5%	2.7%	8.7%	19.5%	10.1%	-1.5%	0.0%	611.9M	-6.70B	-29.4M	0.72	2.28	81,715	59,174	1,909,029	984,785
2019-01-09	$122.31	$120.00	10.0%	2.9%	8.9%	31.2%	10.6%	-1.5%	0.0%	696.8M	-7.78B	-30.1M	1.03	3.32	105,060	107,825	1,943,478	1,010,205
2019-01-10	$121.66	$120.00	9.4%	2.7%	9.2%	17.5%	9.8%	-1.3%	0.2%	656.1M	-7.06B	-30.5M	0.75	3.11	61,798	46,286	1,984,279	1,067,786
2019-01-11	$121.72	$120.00	9.3%	2.7%	9.2%	16.4%	9.6%	-1.1%	0.2%	668.1M	-7.04B	-30.8M	1.79	3.42	59,366	106,121	1,996,893	1,075,901
2019-01-14	$122.08	$120.00	9.4%	2.7%	9.0%	17.5%	10.2%	-1.2%	0.0%	635.6M	-7.31B	-30.7M	0.95	3.47	48,058	45,525	1,987,073	1,110,042
2019-01-15	$121.92	$120.00	9.4%	2.7%	8.9%	17.2%	9.9%	-1.2%	0.0%	607.1M	-6.92B	-31.2M	1.07	2.93	56,689	60,574	2,012,203	1,136,819
2019-01-16	$122.20	$120.00	9.3%	2.7%	8.8%	15.7%	10.2%	-1.1%	-0.0%	615.9M	-7.05B	-31.9M	0.96	2.26	54,846	52,477	2,023,276	1,165,984
2019-01-17	$122.13	$120.00	9.2%	2.6%	8.8%	12.6%	9.3%	-1.1%	-0.0%	636.3M	-7.15B	-32.1M	0.84	2.15	63,587	53,512	2,039,267	1,178,187
2019-01-18	$121.12	$120.00	9.3%	2.7%	9.3%	16.2%	9.9%	-0.6%	-0.0%	604.3M	-5.69B	-32.3M	0.79	2.76	114,972	90,596	2,046,013	1,190,567
2019-01-22	$121.34	$120.00	9.2%	2.7%	8.1%	13.0%	9.6%	-0.6%	0.0%	434.4M	-4.28B	-31.0M	0.64	4.02	55,955	35,691	1,293,785	818,292
2019-01-23	$121.31	$120.00	9.0%	2.6%	7.9%	8.0%	9.5%	-0.6%	0.1%	455.9M	-4.22B	-31.1M	1.04	2.51	40,356	41,917	1,320,921	840,228
2019-01-24	$121.03	$120.00	8.8%	2.6%	6.9%	5.1%	9.3%	-0.4%	0.1%	420.6M	-3.83B	-31.4M	0.82	3.39	38,164	31,394	1,332,855	851,449
2019-01-25	$122.77	$120.00	9.3%	2.7%	8.4%	16.7%	9.7%	-0.9%	0.1%	536.9M	-5.90B	-31.3M	0.51	2.91	125,865	64,369	1,344,526	850,599
2019-01-28	$123.19	$120.00	9.0%	2.6%	8.2%	10.2%	10.0%	-0.9%	0.1%	608.1M	-6.24B	-30.3M	2.32	2.44	18,637	43,273	1,351,411	830,359
2019-01-29	$123.92	$120.00	9.6%	2.8%	8.3%	21.3%	10.1%	-1.4%	0.1%	608.3M	-6.88B	-31.1M	0.81	3.42	90,980	73,546	1,372,711	861,320
2019-01-30	$124.63	$120.00	9.5%	2.8%	8.5%	19.5%	10.3%	-1.4%	0.0%	635.9M	-7.75B	-30.8M	0.60	3.18	108,273	65,090	1,412,288	899,604
2019-01-31	$124.81	$119.00	9.2%	2.7%	8.5%	14.2%	9.8%	-1.3%	0.1%	687.4M	-8.02B	-31.2M	0.73	2.61	80,760	58,729	1,441,893	914,422