GOLD Options History — February 2007

In February 2007, GOLD traded between $11.32 and $12.34. ATM implied volatility averaged 32.6%. The 30-day expected move averaged 9.5%. IV traded above realized volatility by 8.8% (HV 20d: 23.8%). Max pain ranged from $11.25 to $11.25. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 0.61.

Notable Days

  • 2007-02-09: Highest Volume — 7,616 contracts
  • 2007-02-27: Largest IV spike — 27.6% change
  • 2007-02-27: Largest Expected Move — 10.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.71$11.32$12.34$11.78$11.45
Max Pain$11.25$11.25$11.25$11.25$11.25
ATM IV32.6%29.6%38.2%33.8%37.2%
Expected Move9.5%8.5%10.9%9.7%10.7%
HV 20d23.8%19.6%38.0%25.9%37.4%
Term Structure2.8%-1.8%4.9%1.6%0.1%
VWIV32.4%29.7%37.0%32.1%37.0%
Skew 25d3.9%0.9%6.6%3.2%4.3%
Skew 10d8.6%-3.1%14.8%-3.1%8.7%
Call IV 25d30.8%27.6%36.8%30.6%36.1%
Put IV 25d34.7%31.4%41.1%33.8%40.4%
Bid-Ask Spread %17.4510.3637.7220.1613.42
Gamma HHI0.600.490.790.590.52
Net GEX636.1K485.5K1.0M554.8K554.7K
Net DEX-8.2M-13.7M-4.2M-9.0M-5.1M
Net VEX-36.9K-41.1K-34.2K-35.2K-36.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.610.001.691.051.18
Total Volume1,462.842707,6166201,178
Total OI31,443.05327,45038,05627,45032,532

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-02-01$11.78$11.2533.8%9.7%25.9%0.0%32.1%3.2%1.6%554.8K-9.0M-35.2K1.0520.16N/AN/A30231820,7246,726
2007-02-02$11.66$11.2532.0%10.1%24.8%0.0%34.9%6.6%3.8%563.2K-8.1M-35.3K0.3610.36N/AN/A47017020,9566,992
2007-02-05$11.65$11.2533.8%10.0%23.8%0.0%34.6%4.9%3.4%584.6K-8.0M-34.3K1.5415.67N/AN/A6961,07021,2646,894
2007-02-06$11.68$11.2532.5%9.9%23.7%0.0%33.9%4.5%3.2%568.8K-7.9M-35.3K1.6910.60N/AN/A6221,05021,5167,742
2007-02-07$11.65$11.2531.8%9.4%23.7%0.0%31.3%3.1%4.0%580.3K-7.0M-35.2K1.0519.63N/AN/A9741,02621,7048,440
2007-02-08$11.80$11.2533.1%9.5%22.2%0.0%29.7%6.0%2.9%607.7K-7.7M-37.3K0.7820.34N/AN/A72856622,5449,370
2007-02-09$11.68$11.2532.2%9.2%22.7%0.0%32.3%2.5%4.3%576.4K-6.6M-36.5K0.1220.75N/AN/A6,82279422,3929,780
2007-02-12$11.52$11.2533.3%9.6%22.4%0.0%32.8%4.0%3.7%1.0M-9.3M-41.1K0.3214.91N/AN/A2066628,2089,848
2007-02-13$11.63$11.2532.8%9.4%22.5%0.0%31.8%3.5%3.3%746.1K-8.5M-39.4K0.0022.98N/AN/A70025,4389,868
2007-02-14$11.63$11.2533.3%9.5%22.5%0.0%30.4%4.9%2.7%601.1K-7.4M-37.1K0.0621.91N/AN/A3122024,1069,868
2007-02-15$11.74$11.2531.4%9.0%21.0%0.0%30.9%3.3%4.4%607.9K-9.6M-37.6K0.0911.58N/AN/A2722424,1849,302
2007-02-16$11.62$11.2531.2%9.0%20.5%0.0%31.3%2.5%4.9%590.9K-8.6M-36.8K0.3811.74N/AN/A63424224,3649,256
2007-02-20$11.48$11.2532.6%9.3%20.7%0.0%31.4%5.0%2.2%514.8K-4.9M-34.2K0.3424.23N/AN/A2689221,7207,576
2007-02-21$11.90$11.2531.3%9.0%19.9%0.0%31.3%0.9%1.6%662.3K-8.8M-36.9K0.5412.72N/AN/A1,54484021,6887,598
2007-02-22$11.91$11.2530.0%8.6%19.6%0.0%29.8%3.2%2.6%697.3K-9.5M-38.2K0.0114.70N/AN/A8461022,6567,838
2007-02-23$12.11$11.2529.6%8.5%20.0%0.0%29.8%4.2%3.0%757.6K-11.4M-39.2K1.1710.61N/AN/A68279822,9707,848
2007-02-26$12.34$11.2529.9%8.6%20.8%0.0%32.9%4.4%2.5%818.8K-13.7M-39.4K0.1217.54N/AN/A7989623,2408,374
2007-02-27$11.32$11.2538.2%10.9%38.0%0.0%36.7%4.3%-1.8%485.5K-4.2M-34.8K0.7137.72N/AN/A1,8601,32823,4868,406
2007-02-28$11.45$11.2537.2%10.7%37.4%0.0%37.0%4.3%0.1%554.7K-5.1M-36.7K1.1813.42N/AN/A54063824,1488,384