GOLD Options History — August 2018

In August 2018, GOLD traded between $31.48 and $36.52. ATM implied volatility averaged 26.4%, placing in the 43.2% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 0.5% (HV 20d: 25.9%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 9 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 1.74.

Notable Days

2018-08-15: Highest Volume — 9,326 contracts
2018-08-09: Largest IV drop — 35.4% change
2018-08-07: Highest IV Rank — 97.7%
2018-08-03: Largest Expected Move — 8.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$33.79	$31.48	$36.52	$36.33	$32.59
Max Pain	$37.12	$35.00	$40.00	$36.25	$35.00
ATM IV	26.4%	22.2%	35.6%	29.2%	22.6%
Expected Move	7.1%	6.3%	8.7%	8.4%	6.5%
HV 20d	25.9%	19.0%	31.1%	19.9%	30.2%
HV 60d	22.6%	19.8%	24.3%	21.6%	24.3%
IV Rank	43.2%	18.5%	97.7%	59.8%	20.7%
IV Percentile	51.2%	14.7%	99.6%	80.2%	19.4%
Term Structure	0.9%	-5.1%	3.4%	-4.0%	1.6%
VWIV	25.1%	22.5%	30.5%	29.3%	23.9%
Skew 25d	-0.1%	-1.2%	0.8%	-0.9%	-1.2%
Skew 10d	-0.3%	-9.0%	2.5%	-1.3%	-0.6%
Call IV 25d	25.4%	22.5%	31.2%	29.9%	24.2%
Put IV 25d	25.2%	22.5%	30.4%	29.0%	23.0%
Bid-Ask Spread %	20.26	9.71	78.29	24.03	78.29
Gamma HHI	0.14	0.11	0.18	0.14	0.14
Net GEX	-164.9K	-991.7K	331.4K	298.1K	222.5K
Net DEX	41.7M	23.6M	61.5M	24.0M	41.2M
Net VEX	-227.9K	-287.0K	-164.8K	-283.3K	-221.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.74	0.79	2.72	2.48	1.67
Total Volume	6,958.348	5,402	9,326	6,508	6,234
Total OI	64,754.522	59,294	71,684	60,454	66,730

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-08-01	$36.33	$36.25	29.2%	8.4%	19.9%	59.8%	29.3%	-0.9%	-4.0%	298.1K	24.0M	-283.3K	2.48	24.03	N/A	N/A	1,868	4,640	36,310	24,144
2018-08-02	$35.99	$36.25	29.7%	8.5%	19.9%	63.0%	30.5%	0.4%	-4.6%	168.3K	28.3M	-273.6K	2.72	22.95	N/A	N/A	1,684	4,588	36,598	24,372
2018-08-03	$36.52	$36.25	30.2%	8.7%	20.6%	65.6%	30.3%	-1.0%	-5.1%	331.4K	23.6M	-287.0K	2.14	30.89	N/A	N/A	2,434	5,210	36,884	25,006
2018-08-06	$35.48	$40.00	34.5%	7.3%	22.7%	91.0%	25.6%	0.2%	0.6%	-169.3K	35.1M	-259.1K	1.91	17.43	N/A	N/A	2,356	4,508	37,148	25,714
2018-08-07	$35.23	$40.00	35.6%	7.2%	22.7%	97.7%	25.5%	0.4%	1.1%	-269.4K	37.9M	-250.2K	2.59	18.37	N/A	N/A	1,774	4,600	37,858	26,150
2018-08-08	$35.66	$40.00	35.4%	7.3%	19.0%	96.9%	25.6%	-0.1%	1.5%	-231.5K	34.8M	-259.6K	1.80	19.75	N/A	N/A	2,742	4,928	38,044	26,630
2018-08-09	$35.68	$38.75	22.9%	6.3%	19.0%	22.5%	22.5%	0.0%	3.4%	-482.3K	37.2M	-251.6K	1.94	23.34	N/A	N/A	2,608	5,060	38,722	26,914
2018-08-10	$34.98	$38.75	22.2%	6.5%	19.6%	18.5%	23.1%	-0.5%	3.3%	-799.3K	44.8M	-233.1K	1.97	18.82	N/A	N/A	2,458	4,836	38,860	26,868
2018-08-13	$34.63	$38.75	28.2%	6.7%	19.6%	53.9%	23.6%	0.4%	2.7%	-991.7K	48.7M	-219.0K	1.69	14.35	N/A	N/A	2,718	4,604	39,360	27,066
2018-08-14	$33.70	$38.75	27.0%	6.6%	21.4%	46.8%	24.0%	-0.0%	3.0%	-887.6K	55.3M	-200.0K	1.28	12.97	N/A	N/A	2,870	3,672	40,106	27,168
2018-08-15	$31.81	$37.50	26.1%	7.5%	28.5%	41.6%	26.5%	-0.3%	2.1%	-529.9K	61.5M	-164.8K	1.59	21.18	N/A	N/A	3,600	5,726	41,038	27,282
2018-08-16	$31.48	$36.25	25.8%	7.4%	28.5%	39.6%	25.9%	-0.7%	2.1%	-692.3K	58.9M	-169.9K	1.36	21.47	N/A	N/A	3,458	4,718	42,854	27,302
2018-08-17	$32.30	$36.25	24.9%	7.1%	30.1%	34.3%	25.3%	0.8%	2.7%	-351.0K	51.5M	-201.6K	1.16	17.28	N/A	N/A	3,510	4,078	44,340	27,344
2018-08-20	$32.30	$36.25	25.1%	7.2%	29.8%	35.3%	25.5%	-0.3%	0.9%	-336.9K	47.9M	-197.0K	1.20	16.26	N/A	N/A	3,302	3,978	33,794	25,500
2018-08-21	$32.55	$36.25	24.6%	7.0%	29.5%	32.2%	24.9%	0.0%	0.7%	-156.7K	44.9M	-207.5K	1.10	9.71	N/A	N/A	3,302	3,632	35,324	25,670
2018-08-22	$32.84	$36.25	23.9%	6.9%	29.7%	28.7%	24.6%	-0.3%	0.8%	-96.3K	43.0M	-215.1K	1.23	11.56	N/A	N/A	3,004	3,686	35,792	25,794
2018-08-23	$32.32	$36.25	23.6%	6.8%	29.9%	26.4%	24.0%	-0.2%	1.7%	-87.2K	46.4M	-202.3K	1.16	12.44	N/A	N/A	3,212	3,736	36,068	25,856
2018-08-24	$32.90	$36.25	23.5%	6.7%	31.0%	26.1%	23.5%	-1.0%	1.8%	122.3K	40.4M	-223.4K	0.79	10.75	N/A	N/A	4,688	3,712	37,510	25,918
2018-08-27	$33.20	$36.25	23.4%	6.7%	31.1%	25.2%	24.1%	0.4%	1.3%	310.0K	37.2M	-238.2K	2.03	11.22	N/A	N/A	1,782	3,620	39,976	26,054
2018-08-28	$32.77	$36.25	23.0%	6.6%	31.0%	22.9%	23.2%	0.7%	1.8%	256.9K	41.3M	-225.4K	2.01	14.23	N/A	N/A	1,878	3,784	40,144	26,190
2018-08-29	$33.07	$36.25	22.8%	6.5%	31.1%	22.0%	23.1%	-0.0%	1.1%	303.6K	37.2M	-230.4K	2.00	10.47	N/A	N/A	1,834	3,664	40,336	25,960
2018-08-30	$32.80	$35.00	23.0%	6.6%	31.1%	23.0%	22.7%	0.3%	1.3%	274.4K	39.0M	-228.7K	2.10	28.21	N/A	N/A	1,856	3,890	40,658	25,998
2018-08-31	$32.59	$35.00	22.6%	6.5%	30.2%	20.7%	23.9%	-1.2%	1.6%	222.5K	41.2M	-221.4K	1.67	78.29	N/A	N/A	2,338	3,896	40,720	26,010