GOLD Options History — January 2008

In January 2008, GOLD traded between $18.61 and $24.35. ATM implied volatility averaged 55.2%, placing in the 86.0% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded below realized volatility by 0.8% (HV 20d: 56.0%). Max pain ranged from $17.50 to $22.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.56.

Notable Days

  • 2008-01-24: Highest Volume — 16,374 contracts
  • 2008-01-08: Largest IV spike — 14.2% change
  • 2008-01-16: Highest IV Rank — 100.0%
  • 2008-01-17: Largest Expected Move — 17.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.66$18.61$24.35$19.07$23.86
Max Pain$20.12$17.50$22.50$17.50$22.50
ATM IV55.2%43.2%60.6%43.9%54.7%
Expected Move15.9%12.4%17.4%12.6%15.7%
HV 20d56.0%37.0%66.9%37.6%66.4%
HV 60d51.1%44.6%55.8%44.6%55.3%
IV Rank86.0%51.1%100.0%53.1%82.4%
IV Percentile93.4%71.0%100.0%72.5%92.9%
Term Structure-2.7%-6.0%5.0%3.4%-2.4%
VWIV56.3%46.8%64.2%46.8%56.0%
Skew 25d3.0%-1.0%7.2%3.3%5.4%
Skew 10d6.7%-2.0%14.8%11.1%10.5%
Call IV 25d55.0%44.2%60.2%44.2%55.4%
Put IV 25d58.0%46.7%67.3%47.5%60.8%
Bid-Ask Spread %17.237.2928.327.2921.26
Gamma HHI0.340.280.420.400.33
Net GEX1.0M785.0K1.2M1.1M1.2M
Net DEX-79.8M-105.2M-49.9M-55.7M-93.7M
Net VEX-207.1K-223.7K-178.4K-207.9K-200.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.560.121.550.270.75
Total Volume7,679.2381,30616,3742,7803,050
Total OI84,02674,01095,80474,01089,046

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-01-02$19.07$17.5043.9%12.6%37.6%53.1%46.8%3.3%3.4%1.1M-55.7M-207.9K0.277.29N/AN/A2,19658452,80821,202
2008-01-03$19.32$17.5043.2%12.4%37.0%51.1%47.0%0.9%5.0%1.0M-59.3M-203.8K0.2218.53N/AN/A1,47632652,71421,516
2008-01-04$18.61$17.5046.9%14.1%39.7%62.7%48.3%0.9%-1.6%1.1M-49.9M-208.6K0.3612.24N/AN/A95834853,26821,650
2008-01-07$18.61$17.5047.3%14.2%39.7%64.2%49.8%1.2%-1.9%1.2M-50.8M-204.3K0.4310.53N/AN/A2,4181,03053,84621,692
2008-01-08$20.61$17.5054.1%15.1%52.9%85.4%53.6%-0.3%-2.0%955.9K-75.6M-196.1K0.4112.91N/AN/A11,2184,60054,17222,182
2008-01-09$20.50$20.0053.1%15.7%52.8%82.2%55.5%-1.0%-3.2%962.4K-71.6M-202.4K0.8714.01N/AN/A3,7263,22655,39824,802
2008-01-10$21.14$20.0055.9%16.0%53.2%91.1%55.7%1.7%-5.7%914.7K-80.0M-192.6K0.3717.59N/AN/A9,1363,34255,64625,556
2008-01-11$21.85$20.0055.4%15.9%53.9%89.6%56.4%2.0%-4.6%949.3K-88.7M-198.4K0.7019.23N/AN/A3,5822,49857,63626,472
2008-01-14$23.19$20.0055.8%16.0%52.6%91.0%58.5%-0.9%-5.6%849.8K-105.2M-178.4K0.199.94N/AN/A10,5902,04058,08428,102
2008-01-15$21.93$20.0056.6%16.2%57.6%93.5%57.6%0.5%-3.8%899.1K-89.9M-201.6K0.4416.63N/AN/A7,9283,45859,61628,932
2008-01-16$20.61$20.0059.5%17.1%60.0%100.0%59.6%0.2%-6.0%896.4K-75.0M-223.7K1.5521.55N/AN/A2,7104,18864,08830,766
2008-01-17$20.44$20.0060.6%17.4%59.5%100.0%59.0%2.0%-5.1%785.0K-66.8M-212.7K0.3924.40N/AN/A9,3283,66459,88230,100
2008-01-18$21.02$20.0060.0%17.2%59.7%98.1%58.8%3.9%-5.5%853.0K-77.7M-223.2K0.6120.06N/AN/A2,0501,24464,01631,788
2008-01-22$22.36$20.0059.3%17.0%62.4%96.0%63.1%5.5%-2.2%891.4K-76.5M-212.0K1.1218.98N/AN/A5,9026,63254,62023,544
2008-01-23$22.66$20.0060.5%17.3%61.6%99.6%64.2%7.2%-3.4%987.3K-81.7M-221.2K0.9416.20N/AN/A4,1863,93256,92623,812
2008-01-24$24.35$22.5057.5%16.5%64.6%90.9%61.2%5.3%-1.2%965.7K-101.3M-203.1K0.1213.21N/AN/A14,6681,70657,80225,922
2008-01-25$24.27$22.5057.4%16.5%64.6%90.6%58.7%6.2%-1.2%1.1M-103.1M-216.9K0.8913.48N/AN/A4,3423,84661,48426,320
2008-01-28$23.50$22.5059.9%17.2%66.6%97.9%58.7%6.9%-3.1%1.1M-91.7M-220.8K0.6120.76N/AN/A5,8663,57861,98227,752
2008-01-29$23.36$22.5058.9%16.9%66.9%94.9%56.8%7.0%-3.2%1.2M-89.4M-216.8K0.3228.32N/AN/A1,28641661,86028,016
2008-01-30$23.64$22.5058.0%16.6%66.7%92.1%56.3%5.5%-4.1%1.2M-93.2M-204.4K0.1924.62N/AN/A3,35863261,55027,976
2008-01-31$23.86$22.5054.7%15.7%66.4%82.4%56.0%5.4%-2.4%1.2M-93.7M-200.6K0.7521.26N/AN/A1,7401,31061,01228,034