GLD Options History — November 2025

In November 2025, GLD traded between $362.44 and $387.52. ATM implied volatility averaged 21.1%, placing in the 46.5% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded below realized volatility by 7.2% (HV 20d: 28.3%). Max pain ranged from $351.00 to $360.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 0.66.

Notable Days

  • 2025-11-12: Highest Volume — 1,487,841 contracts
  • 2025-11-10: Largest IV spike — 17.0% change
  • 2025-11-12: Highest IV Rank — 65.7%
  • 2025-11-12: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$375.50$362.44$387.52$368.72$387.52
Max Pain$358.05$351.00$360.00$360.00$360.00
ATM IV21.1%18.3%24.4%19.9%21.0%
Expected Move6.1%5.3%6.9%5.9%6.3%
HV 20d28.3%18.8%34.6%34.0%18.8%
HV 60d23.1%22.1%23.8%22.1%23.4%
IV Rank46.5%30.3%65.7%39.5%45.9%
IV Percentile85.4%73.0%95.6%83.7%84.1%
Term Structure-0.2%-0.9%0.4%0.2%-0.2%
VWIV22.0%18.8%25.3%20.8%22.2%
Skew 25d-1.2%-2.6%-0.4%-1.2%-1.2%
Skew 10d-1.9%-4.6%-0.0%-1.8%-1.4%
Call IV 25d22.1%18.9%26.2%20.8%22.0%
Put IV 25d20.9%18.3%23.6%19.6%20.8%
Bid-Ask Spread %4.293.195.734.085.73
Gamma HHI0.050.040.070.050.06
Net GEX2.16B800.4M3.42B1.66B3.42B
Net DEX-43.37B-63.61B-24.48B-33.98B-56.19B
Net VEX-215.2M-235.8M-202.7M-214.3M-216.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.660.191.900.720.55
Total Volume528,564.368273,4611,487,841403,327273,461
Total OI5,615,305.3684,952,4536,162,8915,536,3715,194,931

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-11-03$368.72$360.0019.9%5.9%34.0%39.5%20.8%-1.2%0.2%1.66B-33.98B-214.3M0.724.08234,468168,8593,437,6972,098,674
2025-11-04$362.44$360.0019.7%5.9%34.6%38.5%20.7%-0.9%0.1%800.4M-24.48B-206.7M1.084.63232,715250,3373,428,6612,123,467
2025-11-05$366.60$360.0018.5%5.3%34.4%31.2%18.8%-0.9%0.4%1.17B-30.84B-202.7M0.694.23222,520152,9373,445,1502,155,930
2025-11-06$366.27$351.0018.3%5.3%33.9%30.3%19.2%-0.6%0.3%1.23B-30.43B-206.7M1.905.19144,787274,4263,449,6322,140,228
2025-11-07$367.94$351.0018.4%5.3%33.8%30.6%19.1%-0.6%0.3%1.85B-33.41B-204.4M0.704.93281,150197,1273,488,4442,158,042
2025-11-10$378.38$355.0021.5%6.2%34.4%48.8%22.5%-1.6%-0.0%2.16B-49.94B-213.9M0.314.14666,200206,6193,344,6322,116,319
2025-11-11$379.82$357.0021.6%6.2%34.2%49.2%22.0%-1.6%-0.1%2.56B-53.33B-221.8M0.523.69264,316138,3813,543,7652,136,167
2025-11-12$386.00$358.0024.4%6.9%34.2%65.7%25.3%-2.6%-0.2%3.03B-63.61B-229.4M0.193.371,250,925236,9163,570,6612,162,093
2025-11-13$383.02$358.0023.6%6.7%33.4%61.2%24.2%-1.8%-0.2%3.08B-59.88B-235.8M0.693.74295,841204,3253,873,0602,187,988
2025-11-14$376.05$359.0022.8%6.5%33.4%56.2%23.4%-1.5%-0.3%2.28B-45.96B-228.0M0.544.59367,420196,7483,931,2252,231,666
2025-11-17$370.73$359.0022.4%6.4%30.8%53.8%23.4%-1.5%-0.8%1.67B-36.06B-215.3M0.444.89460,486202,9653,718,9842,183,091
2025-11-18$374.34$359.0022.5%6.4%22.1%54.7%23.6%-1.3%-0.9%2.05B-42.46B-220.6M0.374.11272,04099,4343,673,3592,190,891
2025-11-19$374.88$359.0022.5%6.5%22.1%54.8%23.1%-1.2%-0.8%2.18B-42.87B-217.0M0.773.73277,845212,7133,646,3722,205,704
2025-11-20$375.10$359.0021.6%6.2%22.1%49.1%22.2%-0.6%-0.8%2.07B-42.19B-212.9M0.925.39282,601261,2323,626,9812,196,281
2025-11-21$373.40$359.0020.4%5.9%22.1%42.7%21.2%-0.4%-0.8%1.74B-38.71B-210.1M0.744.96274,073202,1113,631,8292,206,950
2025-11-24$379.97$359.0020.8%6.2%20.2%44.9%22.3%-1.0%-0.4%2.55B-44.26B-209.8M0.363.19368,224132,5883,170,8201,781,633
2025-11-25$380.13$360.0020.8%6.2%19.9%44.5%21.8%-1.1%-0.3%2.50B-45.45B-209.6M0.483.75187,81289,6503,291,1161,780,011
2025-11-26$383.25$360.0020.3%6.1%19.8%42.1%21.4%-1.2%-0.2%3.09B-50.05B-212.5M0.543.23297,953160,5183,355,6491,812,699
2025-11-28$387.52$360.0021.0%6.3%18.8%45.9%22.2%-1.2%-0.2%3.42B-56.19B-216.5M0.555.73176,52496,9373,395,5901,799,341