GLD Options History — July 2019

In July 2019, GLD traded between $130.64 and $136.39. ATM implied volatility averaged 13.6%, placing in the 68.7% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded below realized volatility by 3.1% (HV 20d: 16.7%). Max pain ranged from $128.00 to $132.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.59.

Notable Days

2019-07-19: Highest Volume — 341,511 contracts
2019-07-08: Largest IV drop — 14.2% change
2019-07-18: Highest IV Rank — 100.0%
2019-07-18: Largest Expected Move — 4.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$133.50	$130.64	$136.39	$130.64	$133.26
Max Pain	$131.32	$128.00	$132.00	$128.00	$132.00
ATM IV	13.6%	11.0%	16.3%	13.3%	11.5%
Expected Move	4.0%	3.2%	4.7%	3.9%	3.5%
HV 20d	16.7%	14.1%	18.7%	14.6%	14.1%
HV 60d	12.5%	11.1%	13.5%	11.1%	13.5%
IV Rank	68.7%	37.4%	100.0%	66.2%	42.9%
IV Percentile	94.5%	83.7%	100.0%	97.2%	86.9%
Term Structure	-0.2%	-0.7%	-0.0%	-0.2%	-0.2%
VWIV	14.1%	11.8%	16.2%	13.8%	13.1%
Skew 25d	-3.3%	-4.2%	-2.6%	-2.6%	-3.0%
Skew 10d	-5.6%	-7.0%	-4.4%	-5.0%	-5.3%
Call IV 25d	15.7%	13.2%	19.2%	15.2%	13.5%
Put IV 25d	12.4%	10.2%	15.0%	12.6%	10.5%
Bid-Ask Spread %	2.29	1.77	3.55	2.33	3.12
Gamma HHI	0.06	0.05	0.08	0.05	0.08
Net GEX	585.5M	328.7M	846.9M	328.7M	536.4M
Net DEX	-8.71B	-13.38B	-5.89B	-5.89B	-7.02B
Net VEX	-43.3M	-45.7M	-40.4M	-41.8M	-42.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.59	0.39	1.02	0.76	0.48
Total Volume	187,087.818	87,857	341,511	245,024	262,823
Total OI	3,024,797.045	2,839,612	3,346,728	2,839,612	2,999,966

Daily Data (22 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
2019-07-01	$130.64	$128.00	13.3%	3.9%	14.6%	66.2%	13.8%	-2.6%	-0.2%	328.7M	-5.89B	-41.8M	0.76	2.33	139,574	105,450	1,812,060	1,027,552
2019-07-02	$133.40	$128.00	15.0%	4.5%	16.0%	87.1%	15.9%	-3.4%	-0.3%	567.8M	-9.31B	-44.7M	0.45	2.06	180,422	81,959	1,865,171	1,031,461
2019-07-03	$133.64	$128.00	15.1%	4.5%	16.0%	88.4%	15.6%	-3.3%	-0.4%	597.4M	-9.69B	-45.5M	0.83	2.17	69,649	57,493	1,921,343	1,068,708
2019-07-05	$132.17	$131.00	14.3%	4.0%	16.8%	79.2%	14.4%	-3.4%	-0.3%	446.8M	-7.88B	-44.3M	0.83	2.49	95,817	79,967	1,919,788	1,090,844
2019-07-08	$131.58	$131.00	12.3%	3.5%	16.9%	54.3%	12.1%	-2.9%	-0.0%	485.8M	-7.00B	-40.4M	1.02	2.05	76,157	77,754	1,877,526	1,044,112
2019-07-09	$131.76	$131.00	12.8%	3.6%	16.4%	59.9%	12.6%	-3.0%	-0.2%	509.9M	-7.32B	-42.0M	0.73	2.12	78,203	57,187	1,909,429	1,080,851
2019-07-10	$133.78	$132.00	14.1%	3.9%	16.9%	76.0%	13.4%	-3.9%	-0.4%	642.9M	-9.85B	-42.7M	0.61	1.78	96,103	58,682	1,940,188	1,108,008
2019-07-11	$132.75	$132.00	12.9%	3.7%	17.4%	61.5%	13.3%	-3.0%	-0.0%	587.2M	-8.49B	-42.2M	0.52	2.31	96,554	49,902	1,955,709	1,135,780
2019-07-12	$133.53	$132.00	14.0%	4.0%	17.3%	75.5%	14.0%	-3.3%	-0.2%	707.5M	-9.43B	-43.1M	0.49	2.74	110,278	54,358	1,972,890	1,150,508
2019-07-15	$133.40	$132.00	13.8%	3.9%	17.4%	73.1%	14.7%	-3.3%	-0.0%	606.2M	-9.15B	-42.7M	0.51	1.77	61,999	31,564	1,960,346	1,116,895
2019-07-16	$132.42	$132.00	13.4%	3.8%	17.7%	67.7%	14.1%	-3.2%	-0.2%	511.3M	-7.74B	-41.9M	0.55	1.83	115,920	63,787	1,962,630	1,129,514
2019-07-17	$134.54	$132.00	15.2%	4.4%	18.3%	90.4%	15.0%	-3.8%	-0.7%	664.2M	-10.56B	-43.2M	0.39	2.38	204,279	79,176	1,995,825	1,155,639
2019-07-18	$136.39	$132.00	16.3%	4.7%	18.7%	100.0%	16.2%	-4.2%	-0.2%	846.9M	-13.38B	-45.7M	0.43	3.55	168,734	72,129	2,074,827	1,189,649
2019-07-19	$134.47	$132.00	14.7%	4.2%	17.3%	81.4%	15.4%	-3.8%	-0.3%	684.9M	-10.38B	-45.2M	0.57	2.24	217,460	124,051	2,121,434	1,225,294
2019-07-22	$134.51	$132.00	14.0%	4.1%	17.1%	73.1%	15.1%	-3.6%	-0.3%	614.9M	-8.97B	-44.5M	0.68	2.05	76,608	52,031	1,929,160	947,075
2019-07-23	$133.71	$132.00	13.0%	3.8%	16.7%	60.9%	13.7%	-3.0%	-0.3%	536.8M	-7.83B	-45.0M	0.58	1.79	106,667	61,918	1,958,609	973,197
2019-07-24	$134.32	$132.00	13.5%	4.0%	16.7%	66.3%	14.3%	-3.3%	-0.3%	587.1M	-8.49B	-44.3M	0.52	1.79	69,198	36,258	1,976,468	997,093
2019-07-25	$133.40	$132.00	12.5%	3.7%	16.6%	54.6%	13.4%	-3.0%	-0.2%	478.5M	-7.32B	-43.5M	0.42	2.16	128,742	53,954	1,997,652	1,004,720
2019-07-26	$133.71	$132.00	11.0%	3.2%	16.6%	37.4%	11.8%	-2.9%	-0.0%	553.1M	-7.74B	-42.4M	0.63	2.57	130,200	81,983	2,036,147	1,023,781
2019-07-29	$134.62	$132.00	12.3%	3.7%	16.7%	52.7%	13.5%	-3.4%	-0.2%	690.9M	-8.84B	-42.8M	0.47	1.98	59,624	28,233	1,975,478	945,714
2019-07-30	$135.01	$132.00	13.2%	4.2%	15.1%	63.4%	14.3%	-3.1%	-0.3%	695.0M	-9.33B	-43.0M	0.48	3.09	177,385	85,700	1,981,118	955,376
2019-07-31	$133.26	$132.00	11.5%	3.5%	14.1%	42.9%	13.1%	-3.0%	-0.2%	536.4M	-7.02B	-42.1M	0.48	3.12	177,951	84,872	2,024,290	975,676