GOLD Options History — April 2009

In April 2009, GOLD traded between $20.80 and $28.45. ATM implied volatility averaged 65.9%, placing in the 24.0% IV rank vs the trailing year. The 30-day expected move averaged 19.0%. IV traded below realized volatility by 3.4% (HV 20d: 69.3%). Max pain ranged from $22.50 to $27.50. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.85.

Notable Days

  • 2009-04-03: Highest Volume — 21,432 contracts
  • 2009-04-06: Largest IV spike — 16.9% change
  • 2009-04-06: Highest IV Rank — 29.6%
  • 2009-04-06: Largest Expected Move — 20.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.70$20.80$28.45$28.45$24.20
Max Pain$24.29$22.50$27.50$25.00$22.50
ATM IV65.9%59.4%72.0%60.6%63.1%
Expected Move19.0%17.0%20.4%17.4%18.1%
HV 20d69.3%57.8%78.8%61.1%74.8%
HV 60d67.2%63.6%70.1%67.6%67.6%
IV Rank24.0%17.9%29.6%19.0%21.4%
IV Percentile50.7%40.5%64.7%44.8%40.5%
Term Structure-1.1%-3.8%3.8%3.4%-2.4%
VWIV65.6%60.0%68.7%60.0%65.5%
Skew 25d8.8%8.0%9.9%9.3%8.1%
Skew 10d17.0%13.8%20.1%20.1%17.5%
Call IV 25d62.2%56.0%65.0%56.0%61.0%
Put IV 25d71.0%65.4%74.8%65.4%69.1%
Bid-Ask Spread %12.619.2416.8416.6716.84
Gamma HHI0.140.100.300.160.12
Net GEX475.8K-364.1K1.3M1.3M696.7K
Net DEX-33.1M-96.9M12.6M-96.9M-42.7M
Net VEX-498.0K-573.5K-399.9K-555.1K-493.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.850.093.850.670.27
Total Volume7,159.1431,77421,43217,97810,136
Total OI114,966.85791,756127,22491,756111,758

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-04-01$28.45$25.0060.6%17.4%61.1%19.0%60.0%9.3%3.4%1.3M-96.9M-555.1K0.6716.67N/AN/A10,7547,22467,29024,466
2009-04-02$27.05$25.0059.4%17.0%61.2%17.9%60.0%8.2%3.8%1.2M-79.7M-573.5K0.4412.10N/AN/A5,0202,22673,90430,114
2009-04-03$24.92$27.5061.6%19.0%68.7%19.9%66.8%8.8%-0.1%871.1K-52.1M-535.2K0.9813.19N/AN/A10,82010,61276,06030,590
2009-04-06$23.34$27.5072.0%20.4%72.4%29.6%68.4%9.9%-1.9%329.3K-26.3M-525.0K1.0811.80N/AN/A4,8765,27280,86638,140
2009-04-07$23.94$25.0064.6%19.2%66.8%22.8%68.2%9.3%-0.6%435.7K-33.6M-551.8K0.5610.06N/AN/A4,4262,47082,64840,480
2009-04-08$23.63$25.0067.2%20.0%65.7%25.2%66.1%9.4%-0.5%387.7K-29.2M-538.5K0.7413.06N/AN/A1,10882083,24040,500
2009-04-09$22.76$25.0067.8%19.4%67.0%25.7%66.8%9.3%-0.7%200.6K-17.0M-503.8K0.5810.70N/AN/A2,4661,42483,91640,818
2009-04-13$22.96$25.0070.4%20.2%67.0%28.2%67.4%9.7%-2.1%171.0K-17.7M-492.0K1.849.54N/AN/A1,4942,74883,05241,194
2009-04-14$22.76$25.0070.0%20.1%67.1%27.8%68.7%9.5%-1.6%-7.1K-14.8M-487.5K3.8512.91N/AN/A3661,40883,75642,936
2009-04-15$23.00$25.0067.7%19.4%65.8%25.7%66.5%8.8%-1.8%-112.0K-15.5M-490.2K1.3714.86N/AN/A1,8842,58883,71443,510
2009-04-16$21.95$25.0065.9%18.9%64.7%24.0%65.1%8.4%-0.1%-364.1K-258.0K-441.3K0.5612.95N/AN/A2,4861,40082,50043,414
2009-04-17$20.80$25.0067.7%19.4%57.8%25.6%64.8%8.0%-0.6%143.9K12.6M-399.9K0.549.24N/AN/A3,3421,81682,96643,594
2009-04-20$22.89$25.0067.6%19.4%68.9%25.5%66.5%8.9%-2.3%416.3K-26.3M-461.1K0.409.82N/AN/A7,3622,97271,18031,450
2009-04-21$21.75$22.5066.0%18.9%70.3%24.1%67.0%8.6%-1.4%308.9K-16.0M-432.3K0.649.69N/AN/A4,1462,66273,24432,810
2009-04-22$22.16$22.5065.4%18.7%70.9%23.5%63.5%8.8%-1.5%368.3K-19.8M-452.3K0.6412.61N/AN/A1,28482075,48234,516
2009-04-23$23.21$22.5066.0%18.9%72.3%24.1%63.6%8.4%-1.4%544.5K-32.3M-483.2K0.5112.07N/AN/A4,5942,35875,95434,670
2009-04-24$25.11$22.5062.6%18.0%78.5%20.9%63.3%8.3%-1.0%901.1K-56.1M-529.6K1.0916.41N/AN/A2,8423,10076,70235,016
2009-04-27$24.57$22.5066.1%19.0%78.2%24.2%66.1%8.2%-2.9%799.2K-48.7M-519.0K0.5812.62N/AN/A1,46885077,72836,148
2009-04-28$23.82$22.5066.5%19.1%78.8%24.6%66.8%8.0%-3.8%639.1K-37.7M-490.1K0.0911.77N/AN/A11,2241,01677,75036,220
2009-04-29$24.34$22.5065.5%18.8%77.2%23.6%67.1%9.1%-3.6%691.7K-44.0M-502.3K0.4815.90N/AN/A3,0161,44273,61436,394
2009-04-30$24.20$22.5063.1%18.1%74.8%21.4%65.5%8.1%-2.4%696.7K-42.7M-493.4K0.2716.84N/AN/A7,9742,16275,08036,678