GLD Options History — December 2023

In December 2023, GLD traded between $183.55 and $192.53. ATM implied volatility averaged 12.8%, placing in the 30.5% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded below realized volatility by 2.6% (HV 20d: 15.4%). Max pain ranged from $177.00 to $181.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.53.

Notable Days

2023-12-22: Highest Volume — 338,509 contracts
2023-12-05: Largest IV drop — 10.5% change
2023-12-04: Highest IV Rank — 46.7%
2023-12-01: Largest Expected Move — 4.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$188.54	$183.55	$192.53	$191.93	$191.25
Max Pain	$179.20	$177.00	$181.00	$181.00	$180.00
ATM IV	12.8%	11.6%	14.7%	14.5%	13.4%
Expected Move	3.7%	3.3%	4.6%	4.6%	3.8%
HV 20d	15.4%	12.6%	16.4%	12.6%	15.5%
HV 60d	14.2%	12.9%	14.8%	12.9%	14.1%
IV Rank	30.5%	20.1%	46.7%	44.9%	35.1%
IV Percentile	44.3%	27.8%	71.8%	67.5%	53.2%
Term Structure	0.1%	-0.2%	0.5%	-0.2%	0.5%
VWIV	13.7%	12.2%	17.8%	17.8%	14.0%
Skew 25d	-1.9%	-3.4%	-1.0%	-3.4%	-2.3%
Skew 10d	-3.3%	-6.3%	-1.7%	-6.3%	-4.4%
Call IV 25d	14.3%	12.5%	17.1%	17.1%	15.1%
Put IV 25d	12.4%	11.5%	14.1%	13.7%	12.8%
Bid-Ask Spread %	1.83	1.46	2.21	1.61	2.01
Gamma HHI	0.08	0.05	0.14	0.09	0.08
Net GEX	939.1M	500.6M	1.26B	1.24B	984.0M
Net DEX	-10.04B	-14.64B	-5.60B	-14.64B	-11.12B
Net VEX	-53.4M	-57.1M	-50.2M	-56.2M	-53.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.53	0.21	1.25	0.30	0.59
Total Volume	162,556.8	85,699	338,509	288,908	90,451
Total OI	3,082,517.65	2,834,855	3,340,923	3,076,824	3,007,990

Daily Data (20 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
2023-12-01	$191.93	$181.00	14.5%	4.6%	12.6%	44.9%	17.8%	-3.4%	-0.2%	1.24B	-14.64B	-56.2M	0.30	1.61	221,621	67,287	2,013,266	1,063,558
2023-12-04	$187.94	$177.00	14.7%	4.2%	15.0%	46.7%	16.0%	-2.6%	0.2%	844.5M	-10.32B	-57.1M	0.40	2.21	211,448	83,791	2,034,030	1,056,478
2023-12-05	$187.11	$178.00	13.2%	3.8%	14.8%	33.3%	14.4%	-2.3%	0.1%	861.1M	-9.47B	-55.7M	0.42	1.93	86,877	36,178	2,097,287	1,079,009
2023-12-06	$187.76	$178.00	13.1%	3.8%	14.7%	33.0%	14.3%	-2.2%	0.3%	950.8M	-10.20B	-56.3M	0.39	2.01	70,215	27,085	2,121,470	1,090,453
2023-12-07	$188.19	$178.00	12.7%	3.7%	14.0%	29.2%	13.5%	-2.0%	0.3%	978.9M	-10.55B	-55.3M	0.39	1.79	61,709	23,990	2,114,262	1,092,373
2023-12-08	$185.68	$178.00	12.1%	3.5%	15.0%	23.9%	12.9%	-1.2%	0.3%	660.1M	-7.56B	-53.1M	0.64	1.81	93,490	59,669	2,117,448	1,102,163
2023-12-11	$183.59	$178.00	12.4%	3.6%	15.0%	26.9%	12.8%	-1.3%	-0.0%	501.1M	-5.65B	-51.0M	0.65	1.46	93,919	61,417	2,100,786	1,087,029
2023-12-12	$183.55	$178.00	11.6%	3.3%	14.9%	20.1%	12.2%	-1.0%	-0.0%	500.6M	-5.60B	-50.2M	0.49	1.56	75,776	37,223	2,131,374	1,100,482
2023-12-13	$187.28	$179.00	12.1%	3.4%	16.2%	24.0%	12.2%	-1.7%	-0.1%	1.07B	-10.25B	-51.9M	0.37	1.83	123,851	45,758	2,152,216	1,117,852
2023-12-14	$188.75	$179.00	12.4%	3.6%	16.3%	26.8%	13.0%	-1.9%	0.0%	1.20B	-11.86B	-53.1M	0.50	1.56	124,298	61,689	2,169,003	1,117,458
2023-12-15	$187.16	$180.00	11.8%	3.4%	16.3%	21.9%	12.4%	-1.2%	-0.0%	946.9M	-9.90B	-51.5M	0.73	1.61	85,042	61,939	2,186,590	1,154,333
2023-12-18	$187.82	$180.00	11.9%	3.4%	16.3%	22.0%	12.5%	-1.4%	0.1%	790.0M	-8.46B	-52.0M	0.49	1.69	90,403	44,376	1,937,678	897,177
2023-12-19	$189.03	$180.00	11.9%	3.4%	16.4%	22.3%	12.4%	-1.6%	0.2%	1.09B	-9.79B	-52.7M	0.47	1.75	105,099	49,304	1,978,773	921,213
2023-12-20	$188.41	$180.00	12.1%	3.5%	16.1%	24.2%	13.3%	-1.7%	-0.0%	867.8M	-9.14B	-53.1M	0.21	2.19	167,018	35,225	1,997,929	937,900
2023-12-21	$189.47	$180.00	12.3%	3.5%	16.1%	25.9%	13.0%	-1.7%	0.1%	974.9M	-9.91B	-53.2M	0.79	1.68	84,994	66,863	1,982,992	943,444
2023-12-22	$190.24	$180.00	12.9%	3.7%	16.1%	31.0%	14.0%	-1.7%	0.0%	1.26B	-10.74B	-54.0M	0.43	1.89	236,055	102,454	2,006,969	958,426
2023-12-26	$191.59	$180.00	13.5%	3.9%	16.1%	36.1%	13.8%	-1.7%	0.3%	973.8M	-11.62B	-52.5M	1.25	1.96	38,602	48,178	1,922,895	961,726
2023-12-27	$192.53	$180.00	14.4%	4.1%	15.5%	44.2%	15.3%	-2.4%	0.3%	1.05B	-12.55B	-53.5M	0.44	1.93	123,738	54,861	1,938,105	987,596
2023-12-28	$191.59	$180.00	13.7%	3.9%	15.6%	37.6%	14.1%	-2.2%	0.4%	1.04B	-11.52B	-53.1M	0.57	2.17	63,264	35,979	1,967,207	1,003,413
2023-12-29	$191.25	$180.00	13.4%	3.8%	15.5%	35.1%	14.0%	-2.3%	0.5%	984.0M	-11.12B	-53.2M	0.59	2.01	56,753	33,698	1,986,811	1,021,179