GOLD Options History — September 2019

In September 2019, GOLD traded between $8.53 and $9.92. ATM implied volatility averaged 36.0%, placing in the 42.7% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded below realized volatility by 2.8% (HV 20d: 38.9%). Max pain ranged from $8.50 to $9.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.70.

Notable Days

  • 2019-09-05: Highest Volume — 153,564 contracts
  • 2019-09-05: Largest IV spike — 5.7% change
  • 2019-09-05: Highest IV Rank — 49.5%
  • 2019-09-09: Largest Expected Move — 10.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.01$8.53$9.92$9.73$8.64
Max Pain$9.03$8.50$9.50$8.50$9.00
ATM IV36.0%33.9%37.6%35.9%37.5%
Expected Move10.1%9.6%10.5%10.1%10.0%
HV 20d38.9%22.2%44.4%22.2%43.9%
HV 60d35.3%31.1%36.5%31.2%34.8%
IV Rank42.7%35.6%49.5%44.7%45.2%
IV Percentile78.9%65.1%85.7%81.3%85.3%
Term Structure0.4%-1.3%2.3%-0.1%0.1%
VWIV36.1%34.2%38.9%35.5%35.2%
Skew 25d-0.9%-2.1%0.7%-0.4%0.7%
Skew 10d-2.5%-5.5%1.0%-1.7%-1.1%
Call IV 25d37.4%35.9%39.2%37.2%38.4%
Put IV 25d36.5%34.2%39.0%36.7%39.0%
Bid-Ask Spread %3.122.354.042.852.97
Gamma HHI0.140.120.180.180.13
Net GEX7.0M2.9M9.9M9.5M2.9M
Net DEX-434.7M-734.3M-277.9M-685.5M-277.9M
Net VEX-2.6M-2.8M-2.6M-2.7M-2.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.700.202.940.590.25
Total Volume74,778.531,388153,56474,98471,008
Total OI2,395,920.82,187,2642,552,1222,396,4522,241,772

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-09-03$9.73$8.5035.9%10.1%22.2%44.7%35.5%-0.4%-0.1%9.5M-685.5M-2.7M0.592.85N/AN/A47,02027,9641,369,2501,027,202
2019-09-04$9.92$8.5035.3%9.7%22.5%42.8%34.2%-0.3%0.4%9.9M-734.3M-2.7M0.403.06N/AN/A31,17812,5021,369,8721,050,658
2019-09-05$9.22$9.5037.4%10.3%34.7%49.5%38.3%-1.8%0.1%6.5M-490.3M-2.7M0.383.68N/AN/A111,41842,1461,367,4801,052,148
2019-09-06$8.97$9.5036.8%10.2%36.1%45.6%37.6%-0.9%-0.3%5.7M-406.3M-2.8M2.282.64N/AN/A46,490106,1781,395,1761,061,332
2019-09-09$8.73$9.5037.6%10.5%37.3%48.5%38.9%-0.4%-1.0%6.9M-358.6M-2.6M0.383.11N/AN/A58,12022,3341,389,178988,364
2019-09-10$8.61$9.0037.4%10.5%37.5%47.8%38.1%-1.4%-0.6%6.6M-318.5M-2.7M0.532.35N/AN/A41,48222,0801,411,872996,558
2019-09-11$8.66$9.0036.1%10.2%37.5%43.3%36.3%-0.5%-0.5%7.2M-335.1M-2.6M0.432.82N/AN/A50,29821,4261,428,9541,005,566
2019-09-12$8.57$9.0036.0%10.0%37.6%42.8%36.4%-2.1%-1.3%7.0M-308.5M-2.6M0.442.76N/AN/A41,39018,2581,445,3161,019,734
2019-09-13$8.60$9.0034.9%9.9%37.5%38.8%35.4%-1.6%-0.4%7.3M-316.0M-2.6M0.252.56N/AN/A41,39010,1461,465,3461,029,338
2019-09-16$8.53$9.0034.9%9.9%37.5%38.8%35.8%-1.1%0.9%7.4M-297.6M-2.6M2.943.09N/AN/A34,484101,5381,465,1401,025,368
2019-09-17$9.03$9.0035.7%10.2%42.9%41.9%36.5%-1.6%-0.3%9.4M-501.3M-2.6M0.202.72N/AN/A75,51414,9921,478,9841,031,626
2019-09-18$8.82$9.0035.7%10.2%42.3%41.8%36.1%-0.7%0.2%7.5M-408.3M-2.6M0.633.81N/AN/A39,87425,1161,483,1461,035,634
2019-09-19$9.14$9.0033.9%9.6%44.4%35.6%35.0%-1.7%1.7%9.8M-537.3M-2.6M0.482.94N/AN/A37,74418,1601,493,2081,050,438
2019-09-20$9.19$9.0034.0%9.8%44.4%35.9%34.7%-1.5%-0.7%7.2M-541.4M-2.6M0.853.73N/AN/A46,67639,8741,491,4441,060,678
2019-09-23$9.31$9.0035.5%9.9%44.0%41.0%35.5%-0.5%2.3%7.3M-487.7M-2.6M0.603.45N/AN/A36,28221,5961,292,560894,704
2019-09-24$9.40$9.0036.9%10.3%44.1%45.8%36.8%-0.3%1.7%7.8M-514.3M-2.6M0.903.30N/AN/A30,51227,5021,313,030921,898
2019-09-25$9.10$9.0036.4%10.0%43.7%42.9%35.8%-0.2%2.1%5.7M-418.2M-2.6M0.633.25N/AN/A28,25417,8621,310,330939,064
2019-09-26$9.08$9.0035.8%9.7%43.6%39.1%34.2%-1.3%1.4%5.6M-415.2M-2.6M0.504.04N/AN/A20,95610,4321,316,098934,352
2019-09-27$8.87$9.0036.9%10.0%43.3%43.0%35.4%-0.3%2.0%3.7M-341.3M-2.6M0.433.31N/AN/A31,74813,6261,322,418943,180
2019-09-30$8.64$9.0037.5%10.0%43.9%45.2%35.2%0.7%0.1%2.9M-277.9M-2.6M0.252.97N/AN/A56,91014,0981,306,932934,840