GLD Options History — November 2023

In November 2023, GLD traded between $179.49 and $189.55. ATM implied volatility averaged 12.2%, placing in the 24.7% IV rank vs the trailing year. The 30-day expected move averaged 3.6%. IV traded below realized volatility by 0.2% (HV 20d: 12.4%). Max pain ranged from $175.00 to $181.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.60.

Notable Days

2023-11-02: Highest Volume — 464,279 contracts
2023-11-28: Largest IV spike — 13.9% change
2023-11-01: Highest IV Rank — 35.4%
2023-11-01: Largest Expected Move — 4.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$184.02	$179.49	$189.55	$183.56	$188.68
Max Pain	$178.19	$175.00	$181.00	$175.00	$181.00
ATM IV	12.2%	11.2%	13.4%	13.4%	12.5%
Expected Move	3.6%	3.3%	4.0%	4.0%	3.7%
HV 20d	12.4%	10.4%	15.3%	15.1%	11.2%
HV 60d	12.1%	11.5%	12.6%	11.5%	12.5%
IV Rank	24.7%	16.1%	35.4%	35.4%	27.2%
IV Percentile	30.8%	17.1%	46.8%	40.9%	37.3%
Term Structure	0.0%	-0.3%	0.4%	0.1%	-0.0%
VWIV	12.9%	11.1%	15.0%	14.4%	13.1%
Skew 25d	-1.1%	-2.5%	-0.6%	-1.7%	-1.8%
Skew 10d	-2.0%	-4.7%	-1.1%	-3.0%	-3.1%
Call IV 25d	13.1%	11.9%	15.0%	14.7%	13.7%
Put IV 25d	12.0%	11.1%	13.0%	13.0%	11.9%
Bid-Ask Spread %	1.89	1.14	3.91	3.18	1.60
Gamma HHI	0.07	0.05	0.10	0.08	0.07
Net GEX	775.6M	259.7M	1.16B	847.6M	1.04B
Net DEX	-8.76B	-12.53B	-4.95B	-9.83B	-11.29B
Net VEX	-50.9M	-55.9M	-47.4M	-55.9M	-52.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.60	0.11	0.95	0.65	0.53
Total Volume	160,401.762	50,338	464,279	88,706	106,517
Total OI	3,077,067.19	2,760,317	3,317,754	3,100,823	3,047,315

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
2023-11-01	$183.56	$175.00	13.4%	4.0%	15.1%	35.4%	14.4%	-1.7%	0.1%	847.6M	-9.83B	-55.9M	0.65	3.18	53,721	34,985	2,036,810	1,064,013
2023-11-02	$184.03	$177.00	12.8%	3.8%	15.0%	30.0%	14.5%	-1.5%	0.1%	915.8M	-10.22B	-54.1M	0.26	2.17	368,560	95,719	2,046,434	1,068,513
2023-11-03	$184.72	$177.00	12.5%	3.7%	15.0%	27.5%	13.2%	-1.1%	0.1%	999.2M	-10.89B	-54.4M	0.45	3.91	116,993	52,718	2,081,626	1,086,070
2023-11-06	$183.45	$177.00	11.7%	3.5%	14.6%	20.2%	12.5%	-0.8%	0.4%	841.6M	-9.13B	-50.9M	0.71	2.38	75,907	53,799	2,048,075	1,068,079
2023-11-07	$182.55	$178.00	11.7%	3.4%	14.8%	20.8%	12.3%	-0.8%	0.2%	667.1M	-7.90B	-50.6M	0.70	2.83	69,323	48,379	2,047,499	1,100,250
2023-11-08	$180.72	$178.00	12.3%	3.6%	15.3%	26.2%	13.0%	-0.7%	0.3%	451.8M	-6.17B	-51.8M	0.57	2.85	103,644	59,408	2,081,332	1,121,618
2023-11-09	$181.57	$178.00	12.5%	3.7%	15.3%	27.4%	13.2%	-0.9%	0.4%	573.3M	-7.29B	-52.7M	0.31	1.90	98,337	30,254	2,114,058	1,123,987
2023-11-10	$179.49	$177.00	12.4%	3.6%	11.6%	26.5%	13.2%	-0.8%	0.3%	259.7M	-4.95B	-51.5M	0.82	1.86	71,865	59,160	2,141,873	1,128,684
2023-11-13	$180.49	$178.00	12.6%	3.6%	11.6%	28.5%	12.9%	-0.7%	-0.1%	454.9M	-6.04B	-50.6M	0.59	1.17	67,047	39,649	2,086,072	1,116,263
2023-11-14	$182.12	$178.00	12.3%	3.5%	12.0%	26.1%	12.5%	-1.0%	-0.2%	685.8M	-8.00B	-50.6M	0.53	1.21	66,544	35,013	2,102,822	1,118,185
2023-11-15	$181.72	$178.00	11.6%	3.3%	10.9%	19.8%	11.1%	-0.9%	0.0%	641.3M	-7.58B	-48.6M	0.85	1.24	48,956	41,754	2,115,423	1,127,640
2023-11-16	$183.69	$178.00	11.8%	3.4%	10.6%	21.2%	12.1%	-1.3%	-0.2%	938.7M	-9.77B	-48.5M	0.71	1.52	120,955	85,819	2,123,055	1,138,574
2023-11-17	$183.63	$178.00	11.7%	3.4%	10.6%	20.2%	11.9%	-1.0%	-0.1%	725.7M	-9.67B	-49.3M	0.74	1.14	63,716	46,915	2,155,708	1,162,046
2023-11-20	$183.34	$178.00	11.2%	3.3%	10.4%	16.3%	11.5%	-0.8%	-0.3%	642.0M	-6.73B	-47.4M	0.66	1.33	55,501	36,632	1,817,265	943,052
2023-11-21	$185.34	$178.00	12.1%	3.5%	11.1%	23.7%	13.4%	-1.0%	-0.3%	794.7M	-8.35B	-50.0M	0.95	1.52	104,133	98,531	1,829,609	960,526
2023-11-22	$184.56	$179.00	11.6%	3.4%	11.1%	19.7%	12.3%	-0.7%	-0.2%	747.8M	-7.63B	-48.9M	0.85	1.60	36,551	31,189	1,867,818	979,114
2023-11-24	$185.45	$179.00	11.2%	3.3%	11.3%	16.1%	11.8%	-0.6%	-0.2%	824.5M	-8.43B	-47.8M	0.71	1.55	29,378	20,960	1,881,671	999,078
2023-11-27	$186.66	$179.50	11.5%	3.4%	10.7%	18.5%	12.6%	-1.2%	0.1%	944.1M	-9.40B	-48.0M	0.37	1.47	94,426	34,556	1,844,858	966,404
2023-11-28	$189.19	$180.00	13.1%	4.0%	11.4%	32.3%	14.3%	-2.3%	-0.2%	1.13B	-12.15B	-51.5M	0.47	1.43	181,746	85,621	1,892,750	983,857
2023-11-29	$189.55	$180.50	13.3%	4.0%	11.1%	34.1%	15.0%	-2.5%	-0.2%	1.16B	-12.53B	-52.3M	0.11	1.74	401,176	42,380	1,961,679	1,038,706
2023-11-30	$188.68	$181.00	12.5%	3.7%	11.2%	27.2%	13.1%	-1.8%	-0.0%	1.04B	-11.29B	-52.9M	0.53	1.60	69,772	36,745	1,998,158	1,049,157