GOLD Options History — March 2019

In March 2019, GOLD traded between $6.15 and $7.25. ATM implied volatility averaged 28.2%, placing in the 23.6% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded below realized volatility by 3.6% (HV 20d: 31.8%). Max pain ranged from $6.50 to $6.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.66.

Notable Days

  • 2019-03-25: Highest Volume — 136,116 contracts
  • 2019-03-11: Largest IV drop — 8.1% change
  • 2019-03-04: Highest IV Rank — 33.7%
  • 2019-03-04: Largest Expected Move — 9.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.61$6.15$7.25$6.15$6.86
Max Pain$6.50$6.50$6.50$6.50$6.50
ATM IV28.2%25.2%31.4%29.3%27.9%
Expected Move8.3%7.6%9.0%8.6%7.6%
HV 20d31.8%27.4%35.5%32.5%29.9%
HV 60d381.9%381.7%382.0%381.9%381.8%
IV Rank23.6%14.0%33.7%27.1%22.5%
IV Percentile40.5%22.2%65.1%45.6%37.7%
Term Structure0.5%-0.5%2.9%0.3%-0.4%
VWIV29.1%26.9%32.0%30.6%26.9%
Skew 25d1.1%-0.2%2.6%1.8%0.6%
Skew 10d2.5%-3.3%11.9%3.1%-0.5%
Call IV 25d28.4%25.2%30.9%29.9%28.6%
Put IV 25d29.6%26.1%33.0%31.6%29.2%
Bid-Ask Spread %4.492.6517.023.403.04
Gamma HHI0.170.130.200.150.18
Net GEX3.1M560.3K7.2M560.3K3.9M
Net DEX-107.5M-268.7M7.7M7.7M-149.7M
Net VEX-2.1M-2.4M-1.6M-2.0M-2.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.660.251.720.770.64
Total Volume50,793.8120,646136,11641,36632,122
Total OI1,704,693.2381,640,5521,789,1541,662,0641,789,154

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-03-01$6.15$6.5029.3%8.6%32.5%27.1%30.6%1.8%0.3%560.3K7.7M-2.0M0.773.40N/AN/A23,34018,026925,124736,940
2019-03-04$6.24$6.5031.4%9.0%32.9%33.7%32.0%1.3%0.1%4.4M-92.4M-1.6M0.573.90N/AN/A26,14814,904909,232731,320
2019-03-05$6.33$6.5029.6%8.5%33.2%27.9%29.9%2.1%0.5%1.8M-31.5M-2.1M1.472.78N/AN/A11,68017,122922,890743,134
2019-03-06$6.20$6.5030.1%8.8%33.8%29.6%30.6%0.6%0.8%1.1M-9.2M-2.1M0.902.65N/AN/A10,8469,800927,486757,998
2019-03-07$6.29$6.5030.3%8.6%34.4%30.2%30.1%1.5%-0.3%1.6M-19.1M-2.1M0.483.00N/AN/A15,1807,278930,220763,042
2019-03-08$6.45$6.5031.0%8.6%35.5%32.5%30.6%2.6%1.5%2.1M-58.8M-2.2M0.2517.02N/AN/A43,68811,044931,340766,154
2019-03-11$6.57$6.5028.5%8.7%35.2%24.6%30.2%0.5%-0.2%2.8M-43.9M-2.4M1.504.20N/AN/A35,87453,650941,444765,944
2019-03-12$6.61$6.5028.1%8.6%35.0%23.2%29.7%2.0%0.1%3.4M-99.1M-2.2M0.294.48N/AN/A17,8145,244954,644768,824
2019-03-13$6.67$6.5027.1%8.3%35.1%20.0%28.9%1.3%0.1%4.1M-121.6M-2.2M0.354.00N/AN/A42,23814,780960,574774,002
2019-03-14$6.55$6.5027.0%8.4%33.3%19.6%28.9%0.8%-0.2%2.9M-81.5M-2.2M0.713.94N/AN/A23,43216,626969,810781,728
2019-03-15$6.55$6.5025.7%8.2%33.3%15.5%28.2%0.9%-0.2%1.9M-101.6M-2.1M0.556.22N/AN/A28,20815,586975,114787,924
2019-03-18$6.47$6.5025.2%7.8%33.6%14.0%27.4%1.3%2.1%1.2M-54.6M-2.1M0.663.36N/AN/A28,04818,472900,842742,544
2019-03-19$6.43$6.5025.5%7.9%28.7%15.1%28.0%0.7%0.9%894.0K-54.3M-2.1M1.723.56N/AN/A14,99825,862918,152755,520
2019-03-20$6.55$6.5026.6%8.1%29.4%18.5%28.2%0.1%2.0%1.8M-80.7M-2.2M0.388.01N/AN/A34,20413,142923,550743,848
2019-03-21$6.63$6.5027.1%8.1%27.4%19.9%28.1%0.1%2.9%2.3M-104.5M-2.2M0.353.84N/AN/A25,3648,852929,298751,316
2019-03-22$6.82$6.5028.6%8.4%28.1%24.8%29.2%-0.2%2.3%3.5M-160.5M-2.2M0.363.38N/AN/A41,55015,118937,298757,992
2019-03-25$7.13$6.5029.5%8.4%28.3%27.5%30.5%1.7%-0.4%5.1M-228.5M-2.2M0.403.62N/AN/A97,28438,832925,224753,696
2019-03-26$7.25$6.5027.8%7.9%28.4%22.2%27.8%1.5%-0.3%6.4M-268.4M-2.3M0.363.24N/AN/A73,61026,360961,732781,774
2019-03-27$7.14$6.5028.2%8.0%28.9%23.6%27.7%1.7%-0.5%6.0M-236.6M-2.3M0.354.00N/AN/A32,18811,422969,938777,942
2019-03-28$6.94$6.5028.2%8.0%31.4%23.7%28.1%1.3%-0.0%7.2M-268.7M-1.8M0.792.68N/AN/A37,23629,498978,498775,352
2019-03-29$6.86$6.5027.9%7.6%29.9%22.5%26.9%0.6%-0.4%3.9M-149.7M-2.3M0.643.04N/AN/A19,54612,576992,110797,044