GOLD Options History — March 2010

In March 2010, GOLD traded between $36.00 and $39.18. ATM implied volatility averaged 35.4%, placing in the 6.0% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 2.4% (HV 20d: 37.7%). Max pain ranged from $37.50 to $37.50. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 23 of 23 days. Put/call ratio averaged 0.80.

Notable Days

  • 2010-03-22: Highest Volume — 28,056 contracts
  • 2010-03-08: Largest IV spike — 11.0% change
  • 2010-03-11: Highest IV Rank — 11.4%
  • 2010-03-10: Largest Expected Move — 10.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.46$36.00$39.18$37.10$38.41
Max Pain$37.50$37.50$37.50$37.50$37.50
ATM IV35.4%32.1%37.8%37.8%32.1%
Expected Move10.2%9.2%10.9%10.8%9.2%
HV 20d37.7%32.6%48.9%48.9%32.9%
HV 60d40.7%38.9%42.4%41.7%39.7%
IV Rank6.0%0.0%11.4%11.2%0.0%
IV Percentile2.1%0.0%4.8%2.0%0.0%
Term Structure2.0%0.4%2.9%0.4%2.9%
VWIV35.8%31.4%39.0%38.7%31.4%
Skew 25d2.1%0.9%3.1%2.8%2.1%
Skew 10d3.9%1.4%5.3%3.7%3.5%
Call IV 25d34.8%31.0%37.1%37.1%31.0%
Put IV 25d37.0%33.1%39.9%39.9%33.1%
Bid-Ask Spread %11.907.1020.5112.8810.47
Gamma HHI0.200.120.380.150.34
Net GEX1.3M-370.6K4.4M-331.8K4.4M
Net DEX-21.3M-80.9M2.4M1.4M-80.9M
Net VEX-508.3K-640.4K-426.6K-434.3K-634.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.800.134.741.390.42
Total Volume7,919.8261,71228,0566,3726,664
Total OI117,268.08793,840139,958107,992120,984

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-03-01$37.10$37.5037.8%10.8%48.9%11.2%38.7%2.8%0.4%-331.8K1.4M-434.3K1.3912.88N/AN/A2,6623,71054,99253,000
2010-03-02$37.97$37.5036.9%10.6%45.9%9.2%37.0%2.7%0.7%226.6K-8.9M-464.0K0.6010.28N/AN/A2,5901,54256,18454,252
2010-03-03$39.18$37.5035.1%10.1%47.0%5.1%35.9%2.4%1.5%1.0M-29.5M-461.1K0.7011.92N/AN/A4,1642,90457,45653,592
2010-03-04$37.91$37.5037.4%10.7%47.8%11.1%36.6%2.3%0.5%349.4K-11.5M-454.4K0.9312.37N/AN/A2,6242,45057,79655,052
2010-03-05$38.77$37.5033.3%10.3%41.8%0.6%36.2%2.4%2.8%881.5K-22.8M-461.5K0.407.10N/AN/A3,6661,46458,35256,802
2010-03-08$37.97$37.5037.0%10.8%41.6%10.0%38.2%2.3%2.2%382.5K-11.5M-454.4K0.327.85N/AN/A1,29641658,64657,256
2010-03-09$37.84$37.5036.1%10.8%40.1%7.7%37.6%2.9%2.1%205.4K-8.3M-441.7K0.367.32N/AN/A2,01472658,95857,410
2010-03-10$37.16$37.5036.6%10.9%38.5%9.1%37.4%2.5%2.1%-153.5K-1.2M-447.8K0.569.19N/AN/A2,7421,53660,25457,694
2010-03-11$37.83$37.5037.5%10.8%37.9%11.4%37.2%3.1%2.1%545.9K-11.6M-461.1K0.387.89N/AN/A1,86070661,94858,580
2010-03-12$37.32$37.5036.5%10.5%35.9%8.8%37.0%2.1%2.8%63.0K-4.2M-449.9K1.558.91N/AN/A9921,53861,76058,790
2010-03-15$36.91$37.5037.0%10.6%35.3%10.1%39.0%2.1%2.5%-370.6K2.4M-426.6K3.039.80N/AN/A9182,78261,46058,694
2010-03-16$38.05$37.5036.2%10.4%33.6%8.1%35.9%2.7%2.1%799.9K-13.8M-434.8K0.1510.77N/AN/A6,32695461,44460,266
2010-03-17$37.94$37.5036.7%10.5%33.5%9.2%36.6%2.4%1.3%1.1M-17.4M-452.2K0.1510.28N/AN/A20,7463,19465,41460,526
2010-03-18$37.48$37.5035.0%10.0%33.7%4.9%35.0%2.0%2.4%2.0M-25.2M-500.4K4.7413.48N/AN/A3,18615,11075,41461,624
2010-03-19$36.34$37.5034.8%10.0%35.1%4.5%34.9%2.1%1.8%926.7K-3.1M-488.7K0.2814.39N/AN/A12,1843,36076,27463,684
2010-03-22$36.83$37.5033.8%9.7%35.4%1.9%34.6%1.8%2.2%1.5M-18.3M-529.5K0.2711.90N/AN/A22,1125,94454,67639,164
2010-03-23$37.11$37.5033.7%9.7%33.0%1.6%33.9%1.5%1.9%2.0M-35.5M-603.1K0.6212.25N/AN/A3,3922,10463,16243,930
2010-03-24$36.01$37.5035.7%10.2%34.9%6.8%35.4%1.3%1.9%1.8M-21.0M-594.7K0.5716.61N/AN/A3,7782,14865,47644,514
2010-03-25$36.00$37.5034.9%10.0%34.0%4.7%35.0%0.9%2.3%2.1M-22.3M-609.2K0.3218.54N/AN/A2,56881068,12446,290
2010-03-26$37.04$37.5033.6%9.6%35.2%1.4%33.5%1.2%2.3%2.6M-40.4M-621.0K0.1312.44N/AN/A13,7381,77267,69046,650
2010-03-29$37.30$37.5033.3%9.5%33.7%0.6%33.3%1.8%2.4%4.1M-56.8M-640.4K0.1916.54N/AN/A3,78671874,53847,956
2010-03-30$37.15$37.5032.4%9.3%32.6%0.0%32.7%1.1%2.3%3.8M-49.1M-624.5K0.3320.51N/AN/A1,70056072,46047,978
2010-03-31$38.41$37.5032.1%9.2%32.9%0.0%31.4%2.1%2.9%4.4M-80.9M-634.8K0.4210.47N/AN/A4,7021,96272,80648,178