GOLD Options History — May 2020

In May 2020, GOLD traded between $11.91 and $14.06. ATM implied volatility averaged 49.7%, placing in the 34.5% IV rank vs the trailing year. The 30-day expected move averaged 14.4%. IV traded below realized volatility by 0.2% (HV 20d: 49.8%). Max pain ranged from $10.50 to $12.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.50.

Notable Days

  • 2020-05-27: Highest Volume — 136,478 contracts
  • 2020-05-05: Largest IV drop — 4.7% change
  • 2020-05-04: Highest IV Rank — 40.5%
  • 2020-05-01: Largest Expected Move — 16.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.22$11.91$14.06$13.47$11.99
Max Pain$11.61$10.50$12.50$10.50$12.00
ATM IV49.7%46.8%53.8%52.8%47.7%
Expected Move14.4%13.4%16.7%16.7%13.6%
HV 20d49.8%44.5%57.7%54.3%52.5%
HV 60d74.6%73.5%75.5%73.5%74.0%
IV Rank34.5%30.4%40.5%39.1%31.7%
IV Percentile81.1%76.6%86.1%85.7%76.6%
Term Structure-0.3%-3.2%2.1%-0.6%-1.3%
VWIV51.0%47.2%60.2%60.2%49.3%
Skew 25d1.1%-0.3%3.9%3.9%1.0%
Skew 10d2.0%-3.4%6.3%-3.4%5.0%
Call IV 25d49.9%47.0%53.7%52.4%49.0%
Put IV 25d51.1%47.6%56.3%56.3%50.0%
Bid-Ask Spread %5.043.2213.553.8613.55
Gamma HHI0.120.080.420.230.09
Net GEX6.1M1.7M15.5M12.2M3.9M
Net DEX-564.4M-783.1M-284.7M-643.7M-311.9M
Net VEX-3.4M-3.6M-3.1M-3.2M-3.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.201.610.750.35
Total Volume89,413.843,950136,478102,56457,162
Total OI1,789,985.21,662,6661,915,3101,676,9421,915,310

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-05-01$13.47$10.5052.8%16.7%54.3%39.1%60.2%3.9%-0.6%12.2M-643.7M-3.2M0.753.86N/AN/A58,70843,856848,624828,318
2020-05-04$13.69$10.5053.8%15.4%53.3%40.5%53.9%1.1%-1.3%6.4M-667.2M-3.1M0.525.90N/AN/A70,00436,552819,948842,718
2020-05-05$14.01$11.0051.3%14.9%52.9%36.9%52.5%2.9%-0.7%7.3M-725.3M-3.2M0.725.16N/AN/A65,35246,842846,076863,878
2020-05-06$13.24$11.5051.6%15.0%57.4%37.3%52.9%1.9%0.5%5.4M-583.9M-3.3M0.333.87N/AN/A68,83022,906874,646897,034
2020-05-07$13.68$11.5050.8%14.6%57.7%36.1%51.8%2.4%0.2%8.0M-666.9M-3.4M0.204.76N/AN/A57,96611,688888,550909,382
2020-05-08$13.67$11.5049.0%14.1%51.0%33.5%50.0%0.7%0.1%9.2M-677.5M-3.3M0.413.32N/AN/A40,52816,780916,116911,198
2020-05-11$13.09$11.5050.2%14.3%44.5%35.2%50.1%0.9%0.1%4.8M-549.2M-3.3M0.624.39N/AN/A63,30039,278879,192902,986
2020-05-12$12.98$11.0050.5%14.1%44.7%35.7%49.7%-0.3%-1.9%5.0M-542.4M-3.3M0.205.05N/AN/A36,6687,282903,182893,132
2020-05-13$13.10$11.0048.8%14.5%44.7%33.2%50.1%1.7%2.1%5.1M-563.8M-3.3M0.296.07N/AN/A70,15820,656910,944896,134
2020-05-14$13.57$11.0050.9%14.8%46.0%36.3%51.5%1.6%0.8%9.9M-672.3M-3.4M0.224.86N/AN/A56,74612,318941,980911,358
2020-05-15$14.01$11.0049.8%14.3%46.1%34.7%51.4%1.4%-0.2%15.5M-783.1M-3.3M0.393.22N/AN/A83,52832,814946,008914,214
2020-05-18$13.62$12.0047.9%13.7%47.1%32.0%48.7%0.4%0.9%5.2M-599.2M-3.4M0.384.79N/AN/A55,91221,482843,094841,578
2020-05-19$14.06$12.0048.7%13.9%47.9%33.2%50.6%0.0%-0.6%6.5M-689.6M-3.4M0.794.14N/AN/A43,75034,368865,144856,378
2020-05-20$13.65$12.5049.0%14.1%45.0%33.6%49.7%0.3%-0.8%5.0M-605.2M-3.4M1.614.29N/AN/A41,42466,620881,404881,742
2020-05-21$13.18$12.5047.9%13.7%46.7%32.0%48.4%-0.3%-0.1%2.8M-510.1M-3.5M0.525.09N/AN/A87,45245,652896,344879,356
2020-05-22$13.19$12.5046.8%13.4%46.6%30.4%47.2%0.6%-0.3%3.6M-535.9M-3.5M0.264.45N/AN/A35,6449,202934,750874,412
2020-05-26$12.33$12.5047.6%13.8%52.2%31.5%49.1%0.3%-3.2%2.0M-366.2M-3.4M0.554.63N/AN/A75,53241,434905,296909,982
2020-05-27$11.91$12.2549.2%14.2%53.2%33.8%51.1%0.9%-0.1%1.7M-284.7M-3.5M0.524.33N/AN/A89,51246,966939,428933,570
2020-05-28$12.01$12.0048.8%14.0%53.3%33.3%52.0%1.7%0.4%3.2M-310.5M-3.6M0.315.12N/AN/A56,14017,264969,026927,272
2020-05-29$11.99$12.0047.7%13.6%52.5%31.7%49.3%1.0%-1.3%3.9M-311.9M-3.6M0.3513.55N/AN/A42,47814,684980,914934,396