GOLD Options History — April 2008

In April 2008, GOLD traded between $22.25 and $27.63. ATM implied volatility averaged 55.6%, placing in the 74.5% IV rank vs the trailing year. The 30-day expected move averaged 16.1%. IV traded below realized volatility by 13.3% (HV 20d: 68.9%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.63.

Notable Days

  • 2008-04-29: Highest Volume — 12,888 contracts
  • 2008-04-10: Largest IV spike — 9.2% change
  • 2008-04-14: Highest IV Rank — 84.3%
  • 2008-04-04: Largest Expected Move — 17.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.42$22.25$27.63$22.30$22.76
Max Pain$23.64$22.50$25.00$22.50$25.00
ATM IV55.6%50.5%59.3%59.1%53.6%
Expected Move16.1%14.5%17.3%16.9%15.4%
HV 20d68.9%46.9%83.9%74.4%46.9%
HV 60d63.8%60.7%69.1%66.1%62.4%
IV Rank74.5%61.2%84.3%83.7%69.4%
IV Percentile83.8%64.3%96.4%95.2%73.8%
Term Structure-2.1%-4.4%2.0%0.2%-3.4%
VWIV57.1%51.3%60.5%59.7%53.7%
Skew 25d4.8%2.4%6.5%5.5%3.4%
Skew 10d9.6%0.3%16.6%9.4%0.3%
Call IV 25d55.0%50.5%58.9%56.9%52.5%
Put IV 25d59.8%55.9%62.8%62.4%55.9%
Bid-Ask Spread %14.189.7919.1616.3615.98
Gamma HHI0.380.320.520.340.32
Net GEX1.5M840.0K2.0M907.0K1.2M
Net DEX-66.6M-116.1M-17.8M-25.8M-26.6M
Net VEX-331.8K-362.4K-271.6K-271.6K-345.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.121.310.150.89
Total Volume5,491.3641,07812,88810,4543,768
Total OI90,406.90977,87699,62877,87699,628

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-04-01$22.30$22.5059.1%16.9%74.4%83.7%59.7%5.5%0.2%907.0K-25.8M-271.6K0.1516.36N/AN/A9,1141,34054,58623,290
2008-04-02$24.75$22.5057.0%16.3%83.9%78.3%59.2%5.9%2.0%1.3M-57.6M-316.1K0.3510.82N/AN/A6,3942,23657,66623,914
2008-04-03$25.68$22.5058.9%16.9%83.4%83.3%58.5%4.4%0.1%1.5M-72.3M-337.2K1.1413.10N/AN/A2,9323,33261,43024,832
2008-04-04$25.89$22.5058.6%17.3%82.9%82.5%59.8%3.9%-4.4%1.5M-73.5M-335.7K0.5510.52N/AN/A1,9881,09262,16826,268
2008-04-07$26.55$22.5055.3%16.7%82.6%73.9%60.2%4.6%-3.0%1.6M-84.3M-334.7K0.7511.96N/AN/A2,7782,08262,69426,564
2008-04-08$26.48$22.5053.1%16.5%76.2%68.1%60.3%5.2%-3.2%1.6M-82.8M-338.7K0.8812.69N/AN/A1,2801,12662,99227,358
2008-04-09$26.39$22.5052.1%16.5%72.4%65.5%60.5%6.0%-2.8%1.6M-81.3M-335.5K0.6712.94N/AN/A64443463,06827,612
2008-04-10$26.45$22.5056.9%16.3%72.4%78.0%57.5%5.8%-2.6%1.7M-82.7M-332.1K0.5414.21N/AN/A2,6461,44062,81627,572
2008-04-11$25.49$22.5058.2%16.7%73.5%81.3%58.2%4.2%-2.6%1.7M-69.9M-334.2K1.3113.73N/AN/A1,4481,90064,47628,240
2008-04-14$26.21$22.5059.3%17.0%74.2%84.3%58.4%6.5%-3.3%1.9M-82.1M-333.0K0.4718.67N/AN/A1,81085065,25627,728
2008-04-15$26.34$22.5056.6%16.2%73.7%77.3%58.4%4.9%-2.6%1.9M-85.7M-331.3K0.1214.72N/AN/A9,9541,18465,80027,604
2008-04-16$27.63$22.5056.9%16.3%74.7%78.1%58.4%4.8%-2.6%2.0M-116.1M-336.7K0.4212.86N/AN/A5,8682,46670,46227,670
2008-04-17$27.10$25.0056.7%16.3%66.6%77.5%58.0%4.8%-2.8%1.9M-95.4M-334.8K0.3811.74N/AN/A2,8181,07666,70628,620
2008-04-18$26.70$25.0054.8%15.7%63.6%72.5%56.6%6.0%-1.5%1.4M-88.8M-331.9K0.4817.81N/AN/A2,8421,37667,13228,824
2008-04-21$26.64$25.0054.5%15.6%63.4%71.8%56.4%3.5%-1.5%1.4M-74.7M-328.2K0.8414.83N/AN/A2,2241,86658,19223,866
2008-04-22$26.59$25.0052.8%15.2%58.5%67.4%53.6%3.7%-1.0%1.4M-74.5M-325.4K0.6619.16N/AN/A2,0181,33658,19223,866
2008-04-23$25.63$25.0053.9%15.5%58.1%70.3%54.3%4.6%-2.8%1.4M-62.1M-333.9K0.7916.14N/AN/A2,9262,32060,40225,720
2008-04-24$24.00$25.0054.2%15.5%58.1%70.8%55.4%4.9%-1.6%1.1M-40.2M-323.6K0.8611.40N/AN/A4,8844,19861,04827,176
2008-04-25$23.84$25.0050.5%14.5%58.1%61.2%51.3%5.6%-0.2%1.1M-37.4M-347.3K0.8214.79N/AN/A2,6642,19663,93629,502
2008-04-28$23.59$25.0055.0%15.8%58.0%73.1%52.2%4.5%-3.8%1.1M-34.6M-362.4K0.319.79N/AN/A2,34672665,03431,192
2008-04-29$22.25$25.0054.4%15.6%60.2%71.4%55.7%2.4%-2.8%840.0K-17.8M-328.9K0.3617.65N/AN/A9,4763,41266,43031,420
2008-04-30$22.76$25.0053.6%15.4%46.9%69.4%53.7%3.4%-3.4%1.2M-26.6M-345.6K0.8915.98N/AN/A1,9921,77669,58630,042