GLD Options History — January 2025

In January 2025, GLD traded between $243.13 and $258.38. ATM implied volatility averaged 14.0%, placing in the 44.2% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded above realized volatility by 0.7% (HV 20d: 13.3%). Max pain ranged from $235.00 to $250.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.70.

Notable Days

2025-01-30: Highest Volume — 407,672 contracts
2025-01-30: Largest IV spike — 9.3% change
2025-01-30: Highest IV Rank — 52.1%
2025-01-30: Largest Expected Move — 4.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$250.38	$243.13	$258.38	$245.43	$258.38
Max Pain	$243.25	$235.00	$250.00	$235.00	$250.00
ATM IV	14.0%	13.4%	14.8%	14.0%	14.7%
Expected Move	4.0%	3.7%	4.3%	3.8%	4.3%
HV 20d	13.3%	11.0%	15.2%	14.9%	12.4%
HV 60d	16.6%	16.3%	16.7%	16.5%	16.6%
IV Rank	44.2%	38.3%	52.1%	43.9%	51.3%
IV Percentile	33.7%	21.0%	50.8%	34.9%	49.2%
Term Structure	0.0%	-0.5%	0.3%	0.1%	-0.1%
VWIV	14.3%	13.5%	15.4%	13.6%	15.1%
Skew 25d	-0.2%	-1.0%	0.3%	-0.4%	0.1%
Skew 10d	-0.1%	-1.6%	0.7%	-0.5%	0.3%
Call IV 25d	14.4%	13.6%	15.5%	14.3%	14.9%
Put IV 25d	14.1%	13.3%	15.0%	13.9%	14.9%
Bid-Ask Spread %	4.47	1.94	10.29	2.08	7.36
Gamma HHI	0.07	0.04	0.20	0.05	0.07
Net GEX	1.04B	481.0M	1.56B	804.3M	1.52B
Net DEX	-12.88B	-17.03B	-8.49B	-10.76B	-16.87B
Net VEX	-62.3M	-68.4M	-57.6M	-58.7M	-68.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.70	0.45	1.28	0.46	0.45
Total Volume	191,591.9	60,258	407,672	174,038	342,445
Total OI	2,607,657.85	2,153,528	3,115,893	2,654,826	2,595,628

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
2025-01-02	$245.43	$235.00	14.0%	3.8%	14.9%	43.9%	13.6%	-0.4%	0.1%	804.3M	-10.76B	-58.7M	0.46	2.08	118,826	55,212	1,612,495	1,042,331
2025-01-03	$243.44	$235.00	13.4%	3.7%	15.2%	38.3%	13.5%	-0.4%	0.3%	503.1M	-9.02B	-58.2M	1.08	1.94	60,571	65,428	1,663,780	1,061,856
2025-01-06	$243.13	$240.00	13.7%	3.9%	15.0%	41.2%	14.0%	-0.3%	0.1%	481.0M	-8.49B	-57.9M	0.55	2.74	38,935	21,323	1,656,246	1,063,337
2025-01-07	$244.37	$240.00	13.6%	3.9%	15.1%	40.3%	13.8%	-0.4%	0.2%	648.0M	-9.88B	-58.5M	0.72	2.40	52,371	37,691	1,662,663	1,068,279
2025-01-08	$245.60	$240.00	13.9%	4.0%	14.9%	43.6%	15.0%	-0.4%	0.2%	825.9M	-11.20B	-59.0M	0.61	2.84	120,290	73,213	1,680,631	1,081,494
2025-01-10	$248.19	$240.00	14.6%	4.2%	14.6%	50.6%	14.9%	-1.0%	0.1%	964.4M	-13.81B	-59.4M	0.77	5.29	141,747	108,620	1,675,383	1,103,435
2025-01-13	$245.59	$243.00	14.3%	4.0%	14.6%	47.0%	14.6%	-0.4%	-0.2%	667.6M	-10.61B	-57.6M	0.57	3.22	142,725	81,423	1,692,723	1,115,847
2025-01-14	$246.78	$243.00	14.1%	4.0%	13.9%	45.6%	14.1%	-0.2%	-0.3%	894.2M	-11.97B	-58.5M	0.94	3.03	122,149	114,765	1,731,679	1,104,087
2025-01-15	$248.79	$243.00	14.4%	4.1%	13.4%	48.7%	14.2%	-0.1%	-0.2%	1.29B	-15.39B	-61.8M	0.73	3.34	122,782	89,024	1,823,106	1,181,252
2025-01-16	$250.62	$245.00	14.3%	4.0%	13.6%	47.8%	14.3%	-0.4%	-0.5%	1.43B	-17.03B	-62.1M	0.60	9.34	125,342	74,797	1,832,063	1,200,375
2025-01-17	$249.53	$245.00	13.9%	3.9%	13.7%	43.3%	14.0%	-0.2%	-0.3%	1.56B	-15.37B	-62.9M	0.55	10.29	181,431	100,090	1,867,761	1,248,132
2025-01-21	$252.97	$245.00	13.9%	4.0%	11.5%	43.6%	14.1%	-0.1%	-0.0%	1.15B	-12.54B	-64.4M	0.81	3.66	90,826	74,019	1,322,954	830,574
2025-01-22	$254.31	$245.00	13.8%	4.0%	11.5%	42.8%	14.3%	-0.1%	0.0%	1.22B	-13.61B	-65.1M	0.97	3.78	57,379	55,791	1,359,624	871,735
2025-01-23	$253.93	$245.00	13.5%	3.9%	11.3%	39.7%	14.0%	0.1%	0.0%	1.18B	-12.95B	-65.2M	1.28	4.08	58,951	75,401	1,361,463	886,678
2025-01-24	$255.81	$245.00	13.5%	3.9%	11.0%	39.9%	14.1%	0.3%	0.0%	1.18B	-14.54B	-66.0M	0.61	5.36	141,421	86,855	1,388,825	940,804
2025-01-27	$253.05	$247.00	13.7%	4.0%	12.1%	41.9%	14.0%	-0.0%	0.2%	880.3M	-11.38B	-65.7M	0.69	3.29	101,807	70,618	1,397,834	942,354
2025-01-28	$255.22	$246.00	13.8%	4.0%	12.2%	42.8%	14.4%	-0.1%	0.1%	1.14B	-13.53B	-65.7M	0.59	3.79	55,843	32,832	1,411,911	928,336
2025-01-29	$254.34	$246.00	13.5%	3.9%	11.8%	39.7%	14.3%	0.0%	0.2%	1.07B	-12.54B	-65.5M	0.64	5.68	79,849	51,374	1,421,038	943,679
2025-01-30	$258.05	$247.00	14.8%	4.3%	12.4%	52.1%	15.4%	-0.2%	0.0%	1.31B	-16.02B	-65.0M	0.47	5.88	278,205	129,467	1,440,418	940,347
2025-01-31	$258.38	$250.00	14.7%	4.3%	12.4%	51.3%	15.1%	0.1%	-0.1%	1.52B	-16.87B	-68.4M	0.45	7.36	236,087	106,358	1,583,439	1,012,189