GOLD Options History — April 2020

In April 2020, GOLD traded between $9.46 and $13.51. ATM implied volatility averaged 58.7%, placing in the 47.4% IV rank vs the trailing year. The 30-day expected move averaged 16.8%. IV traded below realized volatility by 20.8% (HV 20d: 79.4%). Max pain ranged from $9.00 to $10.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.53.

Notable Days

  • 2020-04-23: Highest Volume — 176,422 contracts
  • 2020-04-13: Largest IV spike — 16.2% change
  • 2020-04-03: Highest IV Rank — 64.2%
  • 2020-04-01: Largest Expected Move — 18.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.96$9.46$13.51$9.46$12.88
Max Pain$9.76$9.00$10.50$9.50$10.50
ATM IV58.7%50.8%70.4%58.8%51.5%
Expected Move16.8%14.7%18.7%18.7%15.6%
HV 20d79.4%53.9%104.4%102.0%56.5%
HV 60d70.9%66.2%73.1%66.2%73.1%
IV Rank47.4%36.2%64.2%47.5%37.1%
IV Percentile90.8%85.3%94.8%93.7%85.3%
Term Structure0.2%-18.7%18.5%-18.7%-0.6%
VWIV60.2%51.9%65.8%65.2%55.9%
Skew 25d4.5%-2.0%32.8%-0.8%-1.4%
Skew 10d-3.8%-72.2%27.2%-10.8%2.1%
Call IV 25d58.4%48.3%70.9%70.9%52.2%
Put IV 25d62.9%48.4%92.0%70.2%50.8%
Bid-Ask Spread %10.103.5936.2636.265.20
Gamma HHI0.090.080.150.080.08
Net GEX5.2M1.9M7.9M1.9M6.2M
Net DEX-467.6M-702.6M-129.1M-129.1M-541.5M
Net VEX-3.0M-3.2M-2.9M-2.9M-3.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.530.091.871.090.49
Total Volume86,756.66735,082176,42258,43854,736
Total OI1,514,718.191,373,7321,665,2921,373,7321,665,292

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$9.46$9.5058.8%18.7%102.0%47.5%65.2%-0.8%-18.7%1.9M-129.1M-2.9M1.0936.26N/AN/A27,92630,512723,674650,058
2020-04-02$10.12$9.0066.4%18.0%104.3%58.5%65.8%17.9%18.5%3.6M-225.8M-2.9M0.8124.75N/AN/A41,19633,430728,438673,534
2020-04-03$9.97$9.5070.4%17.1%104.4%64.2%62.8%32.8%3.1%4.4M-196.7M-3.0M0.5620.24N/AN/A22,51012,572732,130685,280
2020-04-06$10.31$9.5064.4%17.1%103.9%55.6%63.0%24.8%-6.9%3.2M-245.1M-3.0M0.5618.00N/AN/A36,50420,528709,360678,366
2020-04-07$10.09$9.5054.1%16.6%103.8%40.9%59.2%-0.9%12.0%2.8M-206.0M-2.9M0.3417.53N/AN/A28,4029,744718,476691,996
2020-04-08$10.23$9.5059.9%16.7%102.3%49.2%59.4%9.8%14.0%3.5M-234.7M-3.0M1.8714.85N/AN/A14,50427,114734,822696,040
2020-04-09$11.17$9.5053.4%16.5%97.3%39.9%60.9%-2.0%0.6%4.4M-384.8M-3.0M0.2711.13N/AN/A97,14825,898740,838715,782
2020-04-13$12.24$9.5062.1%17.8%94.9%52.3%63.3%-0.2%-0.1%4.4M-522.4M-3.0M0.474.25N/AN/A104,13448,966732,124724,126
2020-04-14$12.27$9.5060.5%17.2%94.8%50.1%61.8%0.3%-1.8%4.7M-525.8M-3.0M0.305.53N/AN/A76,82222,764752,518755,416
2020-04-15$12.30$9.5058.8%16.9%91.7%47.6%59.5%0.1%-1.1%5.1M-533.1M-3.1M0.515.12N/AN/A34,02217,450774,780762,218
2020-04-16$12.48$9.5058.4%16.7%74.3%47.0%60.2%2.8%-0.3%5.7M-561.0M-3.0M0.564.30N/AN/A50,78828,552784,464771,054
2020-04-17$12.24$9.5056.6%16.2%73.1%44.5%56.5%1.4%0.7%4.9M-525.5M-3.1M1.053.59N/AN/A44,55446,970791,728779,124
2020-04-20$12.57$9.5061.3%17.1%67.0%51.1%60.2%3.6%-3.8%4.8M-520.7M-3.0M0.346.15N/AN/A48,91816,440736,080764,856
2020-04-21$12.49$10.0061.5%18.1%63.5%51.4%63.7%1.8%-2.0%4.9M-513.3M-3.1M0.095.59N/AN/A113,39210,436749,900759,928
2020-04-22$13.26$10.0059.0%16.8%56.5%47.9%59.4%1.0%-0.5%7.9M-670.7M-3.0M0.345.25N/AN/A130,07844,388792,396760,072
2020-04-23$13.40$10.0059.3%17.3%56.3%48.3%61.7%-0.0%-1.1%7.4M-683.4M-3.1M0.234.99N/AN/A143,61432,808804,774784,734
2020-04-24$13.51$10.0057.7%17.0%56.3%46.0%59.6%-0.7%-1.4%7.6M-702.6M-3.1M0.434.81N/AN/A75,74432,300837,422796,172
2020-04-27$13.44$10.5054.0%16.2%55.4%40.8%58.5%-0.1%0.4%6.9M-645.1M-3.0M0.304.87N/AN/A52,60615,952807,338796,368
2020-04-28$13.46$10.5052.6%15.5%55.5%38.8%55.0%2.0%-2.6%7.4M-643.3M-3.2M0.194.75N/AN/A49,8949,600821,582803,926
2020-04-29$13.28$10.5050.8%14.7%53.9%36.2%51.9%2.1%-4.5%7.2M-609.9M-3.0M0.354.88N/AN/A65,15622,818815,126806,770
2020-04-30$12.88$10.5051.5%15.6%56.5%37.1%55.9%-1.4%-0.6%6.2M-541.5M-3.2M0.495.20N/AN/A36,69018,046844,210821,082