GOLD Options History — December 2009

In December 2009, GOLD traded between $38.90 and $44.23. ATM implied volatility averaged 42.5%, placing in the 5.3% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded above realized volatility by 3.7% (HV 20d: 38.8%). Max pain ranged from $35.00 to $37.50. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 1.24.

Notable Days

  • 2009-12-01: Highest Volume — 27,278 contracts
  • 2009-12-28: Largest IV spike — 8.6% change
  • 2009-12-07: Highest IV Rank — 14.3%
  • 2009-12-08: Largest Expected Move — 13.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$40.83$38.90$44.23$44.23$39.57
Max Pain$35.57$35.00$37.50$37.50$37.50
ATM IV42.5%38.2%48.3%43.1%38.8%
Expected Move12.2%10.9%13.6%12.4%11.1%
HV 20d38.8%29.8%45.3%35.7%39.8%
HV 60d43.4%40.1%45.2%42.6%40.1%
IV Rank5.3%0.0%14.3%4.0%1.1%
IV Percentile5.5%0.0%25.0%2.8%0.8%
Term Structure3.1%1.4%4.8%1.7%4.2%
VWIV43.1%37.2%48.8%43.6%39.7%
Skew 25d3.4%2.2%4.3%3.1%2.3%
Skew 10d6.4%4.8%8.0%6.4%5.1%
Call IV 25d41.4%36.2%46.1%42.5%38.6%
Put IV 25d44.7%40.1%49.5%45.6%40.9%
Bid-Ask Spread %7.643.8111.419.373.81
Gamma HHI0.170.120.520.190.13
Net GEX2.5M-5.4M6.4M6.4M1.5M
Net DEX-137.9M-267.7M-78.6M-267.7M-84.4M
Net VEX-741.6K-859.1K-651.1K-859.1K-651.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.240.154.010.580.54
Total Volume11,120.2732,78027,27827,2783,840
Total OI196,930.818145,214232,728203,580158,222

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-12-01$44.23$37.5043.1%12.4%35.7%4.0%43.6%3.1%1.7%6.4M-267.7M-859.1K0.589.37N/AN/A17,2889,990122,88680,694
2009-12-02$44.02$37.5042.1%12.1%29.8%2.9%43.2%3.3%2.1%6.2M-252.6M-855.5K0.658.46N/AN/A6,9884,514123,78082,828
2009-12-03$42.94$37.5045.5%13.0%31.3%8.5%47.1%4.3%1.4%5.5M-219.8M-857.5K2.2111.41N/AN/A5,94413,162125,43683,850
2009-12-04$41.11$35.0046.4%13.5%36.1%10.4%46.3%3.3%2.2%3.4M-156.3M-840.1K1.108.52N/AN/A10,75811,854127,86090,422
2009-12-07$41.17$35.0048.3%13.6%34.7%14.3%48.8%4.3%2.4%3.5M-154.7M-824.6K1.748.29N/AN/A5,7349,986129,52091,940
2009-12-08$39.76$35.0046.2%13.6%36.7%10.7%48.0%3.5%2.0%2.2M-113.0M-793.4K2.085.23N/AN/A6,19812,894130,49294,076
2009-12-09$40.69$35.0044.6%13.4%37.5%8.2%46.6%4.0%2.1%3.3M-143.2M-794.9K0.566.11N/AN/A4,2542,390131,79692,108
2009-12-10$40.49$35.0045.3%13.0%36.1%9.7%45.5%3.3%2.9%3.2M-138.2M-768.0K1.396.34N/AN/A2,0682,880132,19291,728
2009-12-11$40.40$35.0044.8%12.8%35.7%8.7%46.6%3.4%3.2%2.8M-133.9M-745.1K1.718.44N/AN/A2,2243,800132,20092,084
2009-12-14$41.30$35.0043.4%12.5%36.1%6.0%45.7%3.6%3.7%3.6M-162.1M-726.2K1.407.21N/AN/A1,8722,628131,33692,282
2009-12-15$40.01$35.0043.9%12.6%35.4%7.0%44.2%3.6%3.4%1.3M-120.9M-687.7K1.106.74N/AN/A4,3844,824131,81692,164
2009-12-16$41.27$35.0042.5%12.2%37.3%4.3%43.4%3.1%4.2%3.6M-164.4M-721.5K2.239.51N/AN/A3,0506,806133,54092,710
2009-12-17$38.90$35.0044.1%12.7%42.7%7.4%44.1%2.2%2.9%119.5K-78.6M-685.6K1.127.48N/AN/A7,6488,546133,64896,284
2009-12-18$40.19$37.5042.4%12.1%44.6%3.9%42.5%3.4%3.7%-5.4M-140.0M-694.5K0.518.07N/AN/A8,5824,384137,46295,266
2009-12-21$39.78$35.0039.3%11.3%44.7%0.0%39.4%2.8%4.1%1.7M-90.5M-662.0K0.458.41N/AN/A6,1222,74486,84858,366
2009-12-22$40.03$35.0038.9%11.1%44.6%0.0%38.2%3.5%4.1%1.9M-95.8M-667.3K0.156.81N/AN/A13,2542,02089,21659,308
2009-12-23$41.07$35.0038.2%10.9%45.3%0.0%37.2%3.9%4.6%2.6M-115.6M-695.0K0.936.69N/AN/A7,8367,28891,15460,216
2009-12-24$40.74$35.0038.2%11.0%44.1%0.1%38.5%3.7%4.8%2.8M-113.6M-736.1K0.826.53N/AN/A1,5241,25695,82265,216
2009-12-28$40.64$35.0041.5%11.9%43.1%6.3%40.9%3.4%2.3%2.2M-105.6M-702.2K0.897.91N/AN/A2,3722,12092,52265,278
2009-12-29$40.22$35.0039.4%11.3%43.2%2.4%39.5%3.6%3.7%1.9M-97.0M-684.0K1.149.43N/AN/A1,8142,06093,30665,606
2009-12-30$39.73$35.0038.9%11.2%39.8%1.5%39.1%2.6%3.6%1.5M-84.8M-663.1K4.017.39N/AN/A9483,79892,92066,078
2009-12-31$39.57$37.5038.8%11.1%39.8%1.1%39.7%2.3%4.2%1.5M-84.4M-651.1K0.543.81N/AN/A2,4941,34693,08465,138