GLD Options History — January 2026

In January 2026, GLD traded between $397.93 and $494.72. ATM implied volatility averaged 26.7%, placing in the 68.7% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded above realized volatility by 2.1% (HV 20d: 24.6%). Max pain ranged from $350.00 to $420.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.50.

Notable Days

  • 2026-01-30: Highest Volume — 3,001,515 contracts
  • 2026-01-28: Largest IV spike — 27.9% change
  • 2026-01-26: Highest IV Rank — 100.0%
  • 2026-01-29: Largest Expected Move — 12.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$436.51$397.93$494.72$397.93$446.78
Max Pain$393.15$350.00$420.00$350.00$420.00
ATM IV26.7%21.3%42.4%22.3%40.7%
Expected Move7.7%6.0%12.9%6.6%12.7%
HV 20d24.6%20.1%44.3%20.1%44.3%
HV 60d22.9%19.1%29.8%24.9%29.8%
IV Rank68.7%46.0%100.0%52.5%93.9%
IV Percentile92.6%77.4%100.0%87.7%99.6%
Term Structure-0.6%-3.0%0.1%0.1%-3.0%
VWIV27.5%21.3%47.0%23.4%46.3%
Skew 25d-1.4%-3.1%0.0%0.0%-1.6%
Skew 10d-2.1%-6.9%1.8%1.8%-2.6%
Call IV 25d28.0%22.1%45.7%22.6%43.8%
Put IV 25d26.6%21.3%42.5%22.7%42.2%
Bid-Ask Spread %9.892.8731.183.9131.18
Gamma HHI0.090.040.180.070.04
Net GEX4.30B2.00B6.09B2.00B3.66B
Net DEX-85.96B-153.37B-45.87B-45.87B-65.15B
Net VEX-238.7M-358.4M-202.2M-202.2M-358.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.230.970.970.50
Total Volume1,115,448.05261,7023,001,515330,0953,001,515
Total OI5,346,962.94,220,9137,259,3704,832,5837,259,370

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-01-02$397.93$350.0022.3%6.6%20.1%52.5%23.4%0.0%0.1%2.00B-45.87B-202.2M0.973.91167,935162,1603,275,8511,556,732
2026-01-05$408.34$384.0023.3%6.5%21.8%58.5%23.1%-0.4%-0.1%3.38B-59.86B-204.3M0.703.58326,396229,9203,237,2491,543,891
2026-01-06$412.91$385.0023.6%6.7%22.0%60.1%23.3%-0.4%-0.1%3.80B-66.56B-208.8M0.582.87231,828134,3003,275,1811,564,427
2026-01-07$409.84$385.0023.0%6.5%22.2%56.8%23.1%-0.6%-0.0%3.29B-61.44B-207.3M0.552.96266,236147,5003,326,6161,621,966
2026-01-08$411.19$388.0022.9%6.5%22.2%55.5%22.8%-0.6%-0.1%3.71B-63.92B-207.4M0.473.44178,28283,4203,350,6781,616,122
2026-01-09$414.13$388.0022.3%6.4%22.3%52.5%22.5%-0.7%0.1%4.47B-68.68B-206.0M0.362.92569,277206,2883,407,1011,654,127
2026-01-12$422.28$390.0024.2%6.8%22.9%63.7%24.0%-1.4%-0.5%5.17B-81.02B-207.0M0.483.20556,287269,2743,463,9391,623,894
2026-01-13$421.54$390.0022.8%6.4%23.0%55.0%22.7%-1.3%-0.4%4.80B-77.62B-207.9M0.393.83414,787162,5933,493,9661,672,925
2026-01-14$425.44$390.0022.7%6.4%23.1%54.4%22.5%-1.2%-0.3%5.41B-85.28B-217.3M0.693.71297,744205,9463,667,4791,743,392
2026-01-15$423.40$390.0021.3%6.0%23.3%46.6%21.3%-0.8%-0.4%5.34B-80.24B-214.1M0.323.80506,430160,5623,656,7391,753,438
2026-01-16$421.58$390.0021.3%6.0%23.4%46.0%21.3%-0.8%-0.2%3.44B-75.82B-212.7M0.424.53816,273346,9063,774,0641,816,154
2026-01-20$436.76$390.0023.2%6.6%26.0%57.6%23.5%-1.3%-0.3%3.83B-73.29B-220.7M0.2312.821,230,472279,8852,940,5381,280,375
2026-01-21$442.91$391.0024.5%7.0%26.2%65.6%24.7%-2.0%-0.0%4.42B-82.53B-223.0M0.2917.251,724,262506,6253,167,1921,410,779
2026-01-22$452.50$400.0026.1%7.5%26.1%74.8%26.8%-2.8%-0.7%5.58B-97.78B-246.8M0.678.94490,580327,5533,756,3061,494,282
2026-01-23$458.04$400.0028.0%8.1%26.1%86.3%28.4%-2.1%-0.4%6.09B-109.45B-252.3M0.647.26563,428363,0133,947,6121,619,442
2026-01-26$464.03$400.0031.0%9.0%26.1%100.0%31.9%-2.2%-0.2%5.07B-107.04B-254.2M0.4115.761,217,917494,3553,726,6891,575,619
2026-01-27$473.45$404.0029.9%8.7%26.5%93.7%31.1%-1.8%-1.3%4.66B-120.74B-272.1M0.3524.49789,788277,2764,041,5191,653,573
2026-01-28$494.72$408.0038.3%11.4%22.2%100.0%39.9%-2.6%-1.7%4.12B-153.37B-304.1M0.3916.911,998,816786,2044,483,9691,769,605
2026-01-29$492.46$420.0042.4%12.9%22.7%100.0%47.0%-3.1%-1.5%3.69B-143.46B-347.4M0.6024.421,133,180683,7484,706,6742,009,783
2026-01-30$446.78$420.0040.7%12.7%44.3%93.9%46.3%-1.6%-3.0%3.66B-65.15B-358.4M0.5031.181,996,8921,004,6235,016,4362,242,934