GLD Options History — May 2023

In May 2023, GLD traded between $180.22 and $190.50. ATM implied volatility averaged 15.5%, placing in the 33.1% IV rank vs the trailing year. The 30-day expected move averaged 4.6%. IV traded above realized volatility by 2.1% (HV 20d: 13.3%). Max pain ranged from $175.00 to $183.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.56.

Notable Days

2023-05-30: Highest Volume — 370,375 contracts
2023-05-02: Largest IV spike — 12.1% change
2023-05-04: Highest IV Rank — 63.1%
2023-05-04: Largest Expected Move — 5.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$185.15	$180.22	$190.50	$184.00	$182.37
Max Pain	$178.09	$175.00	$183.00	$182.00	$179.00
ATM IV	15.5%	13.8%	17.9%	14.8%	13.8%
Expected Move	4.6%	4.2%	5.2%	4.4%	4.3%
HV 20d	13.3%	12.0%	14.4%	13.0%	12.1%
HV 60d	16.1%	15.5%	16.5%	16.0%	16.4%
IV Rank	33.1%	13.0%	63.1%	24.8%	13.0%
IV Percentile	48.3%	12.3%	90.9%	36.5%	12.3%
Term Structure	0.1%	-0.4%	1.1%	-0.1%	-0.0%
VWIV	16.9%	15.2%	19.2%	16.9%	15.6%
Skew 25d	-1.8%	-2.4%	-0.9%	-0.9%	-1.1%
Skew 10d	-3.2%	-4.3%	-1.5%	-1.6%	-2.0%
Call IV 25d	17.0%	14.9%	19.8%	15.8%	14.9%
Put IV 25d	15.2%	13.8%	17.3%	14.8%	13.8%
Bid-Ask Spread %	1.70	1.29	2.62	2.62	1.77
Gamma HHI	0.07	0.04	0.16	0.08	0.05
Net GEX	788.8M	209.3M	1.55B	659.5M	467.1M
Net DEX	-9.61B	-15.56B	-4.60B	-8.40B	-6.40B
Net VEX	-66.6M	-75.1M	-58.4M	-64.0M	-59.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.12	0.91	0.14	0.42
Total Volume	173,685.818	72,580	370,375	277,027	101,351
Total OI	3,323,533.864	3,016,298	3,635,650	3,016,298	3,274,938

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
2023-05-01	$184.00	$182.00	14.8%	4.4%	13.0%	24.8%	16.9%	-0.9%	-0.1%	659.5M	-8.40B	-64.0M	0.14	2.62	242,861	34,166	2,130,625	885,673
2023-05-02	$187.39	$182.00	16.6%	4.9%	14.2%	47.0%	17.8%	-2.0%	-0.1%	918.1M	-11.89B	-69.4M	0.34	2.08	166,609	57,420	2,188,257	900,864
2023-05-03	$188.34	$183.00	16.0%	4.7%	12.8%	40.1%	16.8%	-1.8%	-0.0%	1.11B	-13.11B	-71.0M	0.72	2.51	71,129	51,526	2,257,018	919,349
2023-05-04	$190.50	$175.00	17.9%	5.2%	13.4%	63.1%	19.1%	-2.4%	-0.0%	1.21B	-15.56B	-75.1M	0.45	2.03	163,873	73,302	2,304,403	942,200
2023-05-05	$187.51	$175.00	16.3%	4.9%	14.4%	43.4%	17.8%	-2.2%	0.2%	1.55B	-12.25B	-72.3M	0.41	1.78	176,100	71,420	2,343,037	972,136
2023-05-08	$187.82	$175.00	16.5%	4.9%	14.1%	46.0%	17.7%	-2.2%	0.6%	1.02B	-12.58B	-71.9M	0.56	1.33	52,414	29,550	2,352,989	949,912
2023-05-09	$189.03	$175.00	16.5%	4.9%	14.2%	46.2%	18.1%	-2.3%	0.6%	1.13B	-13.96B	-72.3M	0.24	1.44	170,605	40,266	2,391,365	963,058
2023-05-10	$188.57	$176.00	16.2%	4.8%	14.1%	41.6%	17.2%	-2.1%	0.7%	1.20B	-13.70B	-72.5M	0.49	1.32	74,478	36,568	2,441,490	979,030
2023-05-11	$187.28	$176.00	15.6%	4.6%	13.6%	35.0%	17.0%	-1.8%	0.7%	1.04B	-11.94B	-70.9M	0.83	1.29	60,393	50,416	2,477,839	991,414
2023-05-12	$186.93	$176.00	15.2%	4.5%	12.2%	29.6%	17.2%	-1.9%	1.1%	933.7M	-11.60B	-68.9M	0.63	1.44	106,450	66,824	2,495,027	1,001,830
2023-05-15	$187.20	$176.00	15.5%	4.5%	12.0%	33.5%	15.8%	-2.1%	-0.4%	1.01B	-11.91B	-68.3M	0.74	1.42	89,654	65,928	2,484,134	991,873
2023-05-16	$184.94	$178.00	15.6%	4.5%	12.7%	35.1%	16.4%	-1.7%	-0.4%	733.9M	-9.09B	-66.4M	0.70	1.69	111,592	77,982	2,498,363	1,013,724
2023-05-17	$184.19	$178.00	15.0%	4.3%	12.7%	27.5%	15.9%	-1.7%	-0.2%	648.6M	-8.30B	-65.6M	0.91	1.65	70,967	64,359	2,513,811	1,031,955
2023-05-18	$181.82	$178.00	14.6%	4.2%	13.3%	22.8%	15.7%	-1.1%	-0.2%	209.3M	-5.52B	-62.5M	0.88	1.56	135,131	118,332	2,532,754	1,040,000
2023-05-19	$183.44	$178.00	15.0%	4.3%	13.3%	27.0%	16.2%	-1.8%	-0.4%	710.3M	-7.84B	-64.6M	0.44	1.65	129,051	56,381	2,584,464	1,051,186
2023-05-22	$183.26	$178.00	15.4%	4.5%	13.2%	31.9%	17.2%	-1.8%	0.0%	607.2M	-7.53B	-63.5M	0.69	1.55	43,024	29,556	2,246,945	872,442
2023-05-23	$183.47	$179.00	15.5%	4.6%	13.1%	33.0%	16.6%	-2.1%	-0.1%	617.2M	-7.71B	-64.0M	0.71	1.38	61,319	43,548	2,262,636	890,296
2023-05-24	$182.16	$180.00	15.3%	4.6%	13.2%	30.6%	17.0%	-1.9%	-0.0%	514.9M	-6.62B	-63.9M	0.65	1.61	57,337	37,386	2,297,792	913,996
2023-05-25	$180.22	$180.00	14.7%	4.4%	13.7%	23.4%	19.2%	-1.5%	-0.1%	288.4M	-4.60B	-60.3M	0.28	1.86	192,927	53,185	2,310,633	929,232
2023-05-26	$180.84	$180.00	14.2%	4.3%	13.8%	18.0%	15.2%	-1.1%	0.1%	347.8M	-4.90B	-60.4M	0.90	1.52	60,857	54,476	2,324,538	950,726
2023-05-30	$182.05	$179.00	14.1%	4.3%	14.0%	16.2%	16.2%	-1.2%	-0.1%	436.8M	-6.04B	-58.4M	0.12	1.91	329,692	40,683	2,282,334	931,457
2023-05-31	$182.37	$179.00	13.8%	4.3%	12.1%	13.0%	15.6%	-1.1%	-0.0%	467.1M	-6.40B	-59.0M	0.42	1.77	71,390	29,961	2,325,404	949,534