GOLD Options History — December 2019

In December 2019, GOLD traded between $8.44 and $9.30. ATM implied volatility averaged 27.6%, placing in the 11.9% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 5.2% (HV 20d: 22.4%). Max pain ranged from $7.50 to $8.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.36.

Notable Days

  • 2019-12-03: Highest Volume — 138,492 contracts
  • 2019-12-03: Largest IV spike — 5.5% change
  • 2019-12-03: Highest IV Rank — 24.8%
  • 2019-12-03: Largest Expected Move — 9.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.81$8.44$9.30$8.44$9.30
Max Pain$7.57$7.50$8.00$8.00$7.50
ATM IV27.6%25.5%30.7%29.1%27.2%
Expected Move8.1%7.3%9.4%8.8%7.7%
HV 20d22.4%19.8%24.3%22.7%22.9%
HV 60d28.5%26.6%30.5%30.5%26.6%
IV Rank11.9%1.8%24.8%17.6%10.5%
IV Percentile9.3%0.8%34.9%18.7%6.7%
Term Structure0.6%-0.2%1.3%0.5%0.5%
VWIV28.6%25.4%32.8%31.2%28.4%
Skew 25d-0.7%-1.8%0.6%0.6%-0.2%
Skew 10d-1.2%-3.1%0.7%0.4%-0.9%
Call IV 25d28.7%26.0%31.5%29.5%27.9%
Put IV 25d28.0%26.0%31.1%30.1%27.7%
Bid-Ask Spread %8.414.2416.949.614.24
Gamma HHI0.190.150.290.150.18
Net GEX9.5M6.2M13.6M6.6M10.1M
Net DEX-373.4M-473.4M-258.7M-259.4M-473.4M
Net VEX-1.9M-2.0M-1.7M-2.0M-1.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.360.110.730.530.20
Total Volume57,724.1919,622138,49284,16060,582
Total OI2,038,917.6191,915,9102,175,9381,995,5001,929,046

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-12-02$8.44$8.0029.1%8.8%22.7%17.6%31.2%0.6%0.5%6.6M-259.4M-2.0M0.539.61N/AN/A55,00429,1561,084,878910,622
2019-12-03$8.63$8.0030.7%9.4%22.9%24.8%32.8%-0.4%0.4%8.4M-329.7M-2.0M0.478.21N/AN/A94,11444,3781,107,656914,632
2019-12-04$8.54$8.0029.3%8.7%23.1%18.2%30.7%-0.9%0.5%7.7M-296.4M-2.0M0.629.08N/AN/A16,54210,2341,117,496938,458
2019-12-05$8.59$7.5028.3%8.4%22.0%14.1%29.7%-0.7%0.9%8.3M-311.1M-2.0M0.307.89N/AN/A24,1587,3541,111,578941,344
2019-12-06$8.45$7.5027.1%8.1%19.8%8.6%28.8%-0.6%0.8%6.7M-266.0M-2.0M0.739.92N/AN/A20,69215,1921,132,648943,036
2019-12-09$8.44$7.5028.4%8.3%19.8%14.5%29.4%-0.4%0.4%6.2M-258.7M-2.0M0.497.25N/AN/A42,47220,8441,110,004935,990
2019-12-10$8.56$7.5028.4%8.3%20.4%14.4%29.8%-0.3%0.6%8.0M-307.7M-2.0M0.305.23N/AN/A15,1144,5081,135,738944,464
2019-12-11$8.81$7.5028.7%8.5%22.5%18.8%31.4%-1.0%1.1%10.6M-402.6M-1.9M0.287.71N/AN/A58,91016,2361,135,984945,156
2019-12-12$8.78$7.5028.2%8.3%22.1%16.2%29.4%-1.2%0.9%10.7M-385.8M-1.9M0.248.93N/AN/A42,20410,0241,143,578956,568
2019-12-13$8.81$7.5026.8%7.9%22.0%8.4%27.5%-0.8%0.8%9.8M-392.5M-1.9M0.245.83N/AN/A59,47814,0881,143,584959,446
2019-12-16$8.70$7.5026.5%7.6%22.5%6.8%27.4%-1.1%0.4%9.3M-348.8M-1.9M0.239.32N/AN/A40,2689,1981,116,698956,984
2019-12-17$8.71$7.5027.6%7.9%21.6%12.6%28.7%-1.1%0.1%8.9M-348.7M-1.9M0.116.24N/AN/A55,4786,1281,138,126960,568
2019-12-18$8.96$7.5027.8%8.0%23.3%13.7%28.1%-0.9%0.2%13.6M-461.8M-1.9M0.705.95N/AN/A29,12020,2461,176,424964,490
2019-12-19$8.86$7.5027.5%7.9%23.7%12.2%27.1%-1.8%1.3%12.7M-418.9M-1.9M0.2016.94N/AN/A53,24810,4561,177,782978,746
2019-12-20$8.73$7.5026.1%7.5%23.0%5.0%26.7%-0.9%-0.2%10.8M-373.9M-1.9M0.5712.21N/AN/A28,36216,1481,197,400978,538
2019-12-23$8.88$7.5025.5%7.3%23.3%1.8%25.4%-0.0%0.6%10.6M-374.1M-1.8M0.318.61N/AN/A43,07213,2721,039,514881,564
2019-12-24$9.12$7.5026.2%7.5%24.3%5.4%26.3%-0.7%0.8%11.9M-452.8M-1.8M0.1311.34N/AN/A82,12810,4641,050,144888,830
2019-12-26$9.18$7.5026.6%7.7%23.2%7.5%27.0%-1.1%0.3%10.4M-456.5M-1.8M0.248.87N/AN/A48,16611,4501,028,238894,084
2019-12-27$9.18$7.5026.6%7.7%22.8%7.4%27.1%-0.8%0.7%9.3M-451.8M-1.8M0.387.34N/AN/A25,7829,7101,030,778900,546
2019-12-30$9.29$7.5027.3%7.7%22.9%11.3%27.7%-1.0%0.5%9.5M-470.6M-1.7M0.305.85N/AN/A29,4448,7841,021,844894,066
2019-12-31$9.30$7.5027.2%7.7%22.9%10.5%28.4%-0.2%0.5%10.1M-473.4M-1.8M0.204.24N/AN/A50,6489,9341,031,794897,252