GLD Options History — July 2025

In July 2025, GLD traded between $301.40 and $316.10. ATM implied volatility averaged 15.8%, placing in the 20.5% IV rank vs the trailing year. The 30-day expected move averaged 4.6%. IV traded above realized volatility by 2.0% (HV 20d: 13.8%). Max pain ranged from $300.00 to $301.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.62.

Notable Days

2025-07-16: Highest Volume — 512,555 contracts
2025-07-22: Largest IV spike — 7.8% change
2025-07-22: Highest IV Rank — 36.5%
2025-07-22: Largest Expected Move — 5.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$307.77	$301.40	$316.10	$307.50	$303.32
Max Pain	$300.09	$300.00	$301.00	$301.00	$300.00
ATM IV	15.8%	14.6%	17.9%	15.8%	14.6%
Expected Move	4.6%	4.3%	5.2%	4.6%	4.3%
HV 20d	13.8%	12.3%	14.9%	14.8%	13.0%
HV 60d	21.3%	18.5%	24.9%	24.9%	18.5%
IV Rank	20.5%	11.3%	36.5%	20.5%	11.3%
IV Percentile	44.4%	18.3%	79.8%	44.0%	18.3%
Term Structure	-0.1%	-0.3%	0.0%	-0.1%	-0.1%
VWIV	16.3%	15.2%	18.2%	16.1%	15.2%
Skew 25d	-0.8%	-1.3%	-0.4%	-0.4%	-0.4%
Skew 10d	-1.0%	-1.7%	-0.1%	-0.1%	-0.3%
Call IV 25d	16.4%	15.1%	18.5%	16.2%	15.1%
Put IV 25d	15.6%	14.7%	17.5%	15.7%	14.7%
Bid-Ask Spread %	2.73	2.37	4.13	2.37	2.73
Gamma HHI	0.07	0.04	0.10	0.06	0.05
Net GEX	1.45B	404.8M	2.37B	1.39B	777.4M
Net DEX	-17.28B	-25.35B	-9.15B	-17.32B	-11.67B
Net VEX	-102.1M	-108.3M	-95.5M	-104.6M	-95.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.62	0.24	1.03	0.71	0.73
Total Volume	273,272.955	161,888	512,555	199,361	180,267
Total OI	3,586,176.455	3,293,855	3,986,202	3,352,521	3,635,476

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
2025-07-01	$307.50	$301.00	15.8%	4.6%	14.8%	20.5%	16.1%	-0.4%	-0.1%	1.39B	-17.32B	-104.6M	0.71	2.37	116,421	82,940	2,090,001	1,262,520
2025-07-02	$309.13	$301.00	16.0%	4.5%	14.7%	21.9%	16.0%	-0.6%	-0.1%	1.63B	-19.10B	-101.4M	0.47	2.37	243,465	114,275	2,097,464	1,286,351
2025-07-03	$307.08	$300.00	15.2%	4.4%	14.7%	16.0%	15.6%	-0.7%	0.0%	1.24B	-16.30B	-103.9M	0.88	3.07	86,286	75,602	2,190,679	1,294,115
2025-07-07	$307.69	$300.00	15.8%	4.5%	14.7%	20.8%	16.4%	-1.0%	0.0%	1.45B	-17.21B	-101.2M	0.60	2.63	144,993	87,273	2,179,327	1,256,893
2025-07-08	$304.42	$300.00	15.1%	4.3%	14.5%	15.3%	15.5%	-0.7%	-0.0%	947.0M	-13.30B	-97.3M	0.62	2.37	169,436	104,226	2,187,028	1,272,167
2025-07-09	$305.43	$300.00	14.9%	4.3%	14.5%	13.4%	15.5%	-0.5%	-0.0%	1.25B	-14.84B	-98.3M	0.29	2.69	233,507	66,581	2,233,538	1,302,406
2025-07-10	$306.06	$300.00	15.0%	4.3%	14.5%	14.4%	15.3%	-0.5%	0.0%	1.44B	-16.23B	-100.9M	0.81	2.64	89,646	72,298	2,331,049	1,300,402
2025-07-11	$309.38	$300.00	15.9%	4.6%	14.9%	21.2%	16.1%	-1.1%	-0.0%	2.14B	-21.00B	-103.6M	0.29	2.51	298,871	85,907	2,356,181	1,309,893
2025-07-14	$308.15	$300.00	16.0%	4.6%	14.4%	21.6%	16.1%	-1.1%	-0.1%	1.76B	-18.84B	-101.3M	0.78	2.66	113,859	88,308	2,367,210	1,297,789
2025-07-15	$306.65	$300.00	15.4%	4.4%	13.4%	17.3%	15.4%	-0.7%	-0.1%	1.33B	-16.42B	-96.8M	0.72	2.44	157,150	113,187	2,380,745	1,322,625
2025-07-16	$308.29	$300.00	16.4%	4.7%	12.8%	24.6%	17.5%	-1.3%	-0.1%	1.74B	-18.97B	-107.6M	0.24	3.43	412,391	100,164	2,452,829	1,387,408
2025-07-17	$307.62	$300.00	15.9%	4.6%	12.8%	21.0%	16.1%	-0.8%	-0.0%	1.60B	-18.11B	-107.7M	0.91	2.99	184,543	167,159	2,593,006	1,393,196
2025-07-18	$308.44	$300.00	15.7%	4.5%	12.7%	19.6%	15.9%	-0.9%	-0.0%	1.67B	-19.52B	-100.2M	1.03	2.56	127,939	132,409	2,580,632	1,371,950
2025-07-21	$312.94	$300.00	16.7%	4.8%	13.8%	26.7%	17.1%	-1.1%	-0.2%	2.37B	-22.29B	-100.1M	0.46	2.46	226,241	104,001	2,095,157	1,198,698
2025-07-22	$316.10	$300.00	17.9%	5.2%	14.1%	36.5%	18.2%	-0.9%	-0.3%	2.16B	-25.35B	-105.7M	0.54	2.64	228,148	122,054	2,134,273	1,221,386
2025-07-23	$312.08	$300.00	17.3%	5.0%	13.6%	31.2%	17.8%	-1.2%	-0.0%	1.74B	-21.33B	-108.3M	0.60	2.80	178,394	106,811	2,238,537	1,290,303
2025-07-24	$310.48	$300.00	16.5%	4.8%	13.7%	25.9%	16.8%	-1.0%	-0.1%	1.68B	-19.49B	-108.0M	0.59	2.40	110,316	64,686	2,264,842	1,283,524
2025-07-25	$307.48	$300.00	15.9%	4.6%	14.2%	21.2%	16.4%	-0.8%	-0.1%	1.09B	-15.75B	-104.8M	0.51	2.46	214,701	108,583	2,303,267	1,307,919
2025-07-28	$305.36	$300.00	15.5%	4.6%	12.8%	18.3%	16.5%	-0.8%	-0.2%	996.9M	-13.38B	-100.3M	0.83	2.93	133,404	110,780	2,276,686	1,289,008
2025-07-29	$305.99	$300.00	15.3%	4.5%	12.3%	16.6%	16.4%	-0.9%	-0.1%	1.18B	-14.54B	-99.9M	0.36	2.69	119,332	42,668	2,277,980	1,327,382
2025-07-30	$301.40	$300.00	15.1%	4.5%	12.9%	14.9%	16.2%	-0.4%	-0.1%	404.8M	-9.15B	-98.0M	0.61	4.13	182,127	110,656	2,309,850	1,344,190
2025-07-31	$303.32	$300.00	14.6%	4.3%	13.0%	11.3%	15.2%	-0.4%	-0.1%	777.4M	-11.67B	-95.5M	0.73	2.73	104,379	75,888	2,309,188	1,326,288