GOLD Options History — October 2008

In October 2008, GOLD traded between $11.72 and $20.80. ATM implied volatility averaged 115.0%, placing in the 82.1% IV rank vs the trailing year. The 30-day expected move averaged 30.8%. IV traded below realized volatility by 14.6% (HV 20d: 129.6%). Max pain ranged from $15.00 to $22.50. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 0.58.

Notable Days

  • 2008-10-08: Highest Volume — 11,546 contracts
  • 2008-10-22: Largest IV spike — 25.8% change
  • 2008-10-02: Highest IV Rank — 100.0%
  • 2008-10-27: Largest Expected Move — 36.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$16.03$11.72$20.80$20.25$15.51
Max Pain$18.37$15.00$22.50$20.00$15.00
ATM IV115.0%80.2%147.8%80.2%108.6%
Expected Move30.8%23.0%36.7%23.0%31.1%
HV 20d129.6%95.3%167.8%95.3%160.9%
HV 60d95.7%75.3%115.6%75.3%115.3%
IV Rank82.1%48.4%100.0%94.8%63.6%
IV Percentile98.1%93.3%100.0%99.6%93.3%
Term Structure-9.9%-15.9%-5.1%-5.3%-8.6%
VWIV105.2%82.6%119.9%82.6%100.3%
Skew 25d11.0%1.3%24.2%7.7%18.4%
Skew 10d19.4%3.3%46.6%15.6%38.1%
Call IV 25d101.3%77.5%116.4%77.5%97.1%
Put IV 25d112.3%85.2%133.3%85.2%115.5%
Bid-Ask Spread %16.398.9333.8316.3523.27
Gamma HHI0.180.120.380.230.15
Net GEX272.4K-296.4K681.7K556.0K382.3K
Net DEX419.2K-30.3M14.9M-18.6M901.4K
Net VEX-199.6K-300.0K-104.7K-278.0K-190.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.181.720.440.34
Total Volume4,217.56586611,5463,148866
Total OI92,138.34884,33299,69284,67499,344

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-10-01$20.25$20.0080.2%23.0%95.3%94.8%82.6%7.7%-5.3%556.0K-18.6M-278.0K0.4416.35N/AN/A2,18296655,88828,786
2008-10-02$17.60$20.0098.0%28.1%106.6%100.0%100.1%8.1%-11.3%289.5K-2.5M-235.2K1.4618.08N/AN/A2,5783,76656,95028,718
2008-10-03$17.38$20.0092.5%26.5%106.7%90.5%93.3%7.2%-7.0%285.1K146.6K-221.4K1.1525.72N/AN/A1,6761,92658,13827,804
2008-10-06$16.73$22.50112.6%27.3%107.2%100.0%97.0%1.3%-6.2%261.2K1.1M-212.2K0.7410.48N/AN/A1,6681,23058,41827,560
2008-10-07$16.94$20.00111.5%28.0%100.0%98.4%97.8%3.1%-8.5%283.8K-1.2M-220.7K0.849.09N/AN/A2,4202,03458,84627,910
2008-10-08$20.80$20.00112.1%28.4%122.3%99.3%98.9%6.8%-11.5%681.7K-30.3M-300.0K0.4011.38N/AN/A8,2763,27059,79828,632
2008-10-09$19.27$20.00113.1%29.7%125.3%100.0%104.6%6.1%-12.1%539.6K-19.1M-288.4K0.2913.29N/AN/A1,68049263,37230,292
2008-10-10$17.59$20.00141.8%33.8%127.8%100.0%119.9%6.0%-10.2%360.1K-10.0M-262.3K0.5614.15N/AN/A3,7082,09063,34830,382
2008-10-13$18.38$20.00142.7%31.0%127.2%100.0%108.4%6.3%-11.8%461.1K-13.4M-268.1K1.728.93N/AN/A1,4742,53264,94830,430
2008-10-14$18.50$20.00128.5%29.4%127.2%86.2%102.7%6.1%-10.0%427.3K-10.7M-260.4K0.2411.09N/AN/A2,64264064,95831,066
2008-10-15$15.99$20.00147.8%32.6%130.4%100.0%112.9%5.9%-9.8%168.6K3.7M-212.8K0.2311.05N/AN/A2,53658266,09031,054
2008-10-16$15.03$20.00121.0%34.7%130.8%75.1%119.3%9.2%-13.5%119.5K7.5M-193.4K1.4110.91N/AN/A1,9622,77468,75230,940
2008-10-17$14.86$20.00111.5%32.0%130.5%66.3%110.5%8.5%-13.1%-296.4K13.1M-173.0K0.2518.31N/AN/A6,2801,57468,41030,916
2008-10-20$15.99$17.50102.1%29.3%119.7%57.6%96.6%16.4%-12.5%264.8K6.2M-180.3K0.2816.18N/AN/A1,88852459,28825,044
2008-10-21$14.96$17.5092.2%26.4%120.8%48.4%86.8%14.6%-5.1%189.6K10.8M-150.2K0.2718.68N/AN/A4,5881,22060,25025,174
2008-10-22$12.26$17.50116.0%33.2%136.4%70.5%114.6%5.8%-15.9%98.4K14.9M-106.2K0.7533.83N/AN/A3,3962,56263,24025,436
2008-10-23$11.72$17.50118.0%33.8%136.3%72.4%113.2%5.6%-7.4%94.9K14.1M-110.3K0.2722.22N/AN/A2,91877865,27227,002
2008-10-24$12.88$15.00121.0%34.7%143.1%75.1%118.0%24.0%-10.3%140.1K12.6M-127.8K0.2416.44N/AN/A1,99248066,58226,868
2008-10-27$11.79$15.00128.1%36.7%144.8%81.8%117.8%17.6%-11.5%93.5K14.4M-104.7K0.5813.75N/AN/A87450667,91427,034
2008-10-28$13.13$15.00118.2%33.9%152.3%72.6%111.5%24.0%-9.4%152.1K12.6M-125.0K0.1916.14N/AN/A1,04219868,18827,444
2008-10-29$15.65$15.00115.7%33.2%167.8%70.2%110.4%24.2%-11.0%362.6K1.1M-184.3K0.1818.38N/AN/A5,37495868,29427,412
2008-10-30$15.49$15.00111.3%31.9%160.9%66.1%102.3%20.8%-6.7%350.0K2.4M-186.0K0.4619.29N/AN/A2,6681,21469,54627,444
2008-10-31$15.51$15.00108.6%31.1%160.9%63.6%100.3%18.4%-8.6%382.3K901.4K-190.4K0.3423.27N/AN/A64821871,21628,128