GOLD Options History — November 2020

In November 2020, GOLD traded between $11.30 and $14.73. ATM implied volatility averaged 37.4%, placing in the 17.0% IV rank vs the trailing year. The 30-day expected move averaged 11.0%. IV traded below realized volatility by 6.1% (HV 20d: 43.5%). Max pain ranged from $13.00 to $14.00. Net GEX was positive for 8 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.43.

Notable Days

  • 2020-11-09: Highest Volume — 236,336 contracts
  • 2020-11-04: Largest IV drop — 8.6% change
  • 2020-11-02: Highest IV Rank — 27.3%
  • 2020-11-02: Largest Expected Move — 13.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.74$11.30$14.73$13.53$11.54
Max Pain$13.57$13.00$14.00$14.00$13.00
ATM IV37.4%33.6%44.6%44.6%37.3%
Expected Move11.0%9.5%13.8%13.8%11.0%
HV 20d43.5%27.3%49.6%30.1%47.3%
HV 60d37.8%35.5%43.1%42.2%36.6%
IV Rank17.0%11.5%27.3%27.3%16.8%
IV Percentile29.0%24.2%47.2%47.2%27.8%
Term Structure-0.1%-1.2%0.8%-0.5%-0.2%
VWIV39.4%34.9%48.6%48.6%40.3%
Skew 25d-1.1%-3.0%1.3%1.3%-3.0%
Skew 10d-2.6%-5.2%1.0%1.0%-4.6%
Call IV 25d38.9%35.3%45.1%44.5%39.4%
Put IV 25d37.8%34.0%45.8%45.8%36.4%
Bid-Ask Spread %3.562.1714.0914.093.41
Gamma HHI0.100.080.140.100.08
Net GEX1.5M-6.1M17.9M4.5M1.8M
Net DEX-160.7M-858.1M139.9M-364.4M51.1M
Net VEX-3.9M-4.2M-3.6M-4.2M-4.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.430.310.760.310.31
Total Volume142,735.362,184236,33662,184187,366
Total OI2,600,732.12,435,4962,827,0342,435,4962,685,422

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-11-02$13.53$14.0044.6%13.8%30.1%27.3%48.6%1.3%-0.5%4.5M-364.4M-4.2M0.3114.09N/AN/A47,43214,7521,230,8501,204,646
2020-11-03$13.88$14.0043.6%13.6%27.3%25.9%48.0%-0.0%0.6%7.0M-481.2M-4.2M0.382.84N/AN/A61,02823,3441,230,8501,204,646
2020-11-04$13.69$14.0039.9%12.0%27.7%20.5%43.1%0.0%-0.7%7.1M-424.8M-4.1M0.377.68N/AN/A55,95620,6601,264,8141,214,676
2020-11-05$14.73$14.0038.1%10.9%37.6%18.0%39.0%-0.6%0.1%17.9M-858.1M-4.0M0.343.25N/AN/A170,14058,0081,282,1661,218,064
2020-11-06$14.45$14.0036.4%10.7%37.6%15.6%37.9%-0.4%0.8%17.4M-741.8M-4.0M0.462.59N/AN/A68,51831,7701,299,5001,224,698
2020-11-09$13.43$14.0037.0%10.7%46.1%16.3%38.4%-0.1%0.3%763.9K-293.1M-3.8M0.453.20N/AN/A163,21673,1201,250,6361,205,662
2020-11-10$13.03$14.0037.7%11.2%47.1%17.4%39.8%0.2%0.7%-998.8K-175.0M-3.9M0.392.70N/AN/A91,79635,5761,316,3781,224,094
2020-11-11$12.88$13.5037.4%10.7%46.8%16.9%38.6%1.0%0.0%-2.6M-108.1M-3.9M0.432.91N/AN/A87,08237,8801,347,5821,243,320
2020-11-12$12.94$13.5038.2%11.0%46.4%18.1%39.1%-0.4%-0.2%-2.2M-142.9M-4.0M0.332.66N/AN/A53,66217,6681,379,1661,259,492
2020-11-13$12.97$13.5036.8%10.6%46.5%16.1%37.9%-1.3%0.3%-6.1M-155.6M-3.9M0.462.26N/AN/A66,39630,5521,387,7921,264,302
2020-11-16$12.95$13.5035.4%10.2%46.2%14.0%36.6%-1.1%-0.3%-4.0M-136.8M-3.8M0.552.45N/AN/A66,44836,5221,360,2001,255,662
2020-11-17$12.69$13.5035.5%10.2%46.6%14.3%37.5%-2.6%-0.1%-3.7M-50.5M-3.7M0.342.32N/AN/A125,92443,4221,374,6981,263,112
2020-11-18$12.26$13.5036.0%10.3%47.5%14.9%37.7%-1.8%-0.6%-1.1M66.9M-3.7M0.592.75N/AN/A141,75483,9241,439,8921,272,264
2020-11-19$12.04$13.5035.8%10.3%47.6%14.7%37.6%-2.5%-0.5%-838.3K133.1M-3.7M0.762.82N/AN/A77,87459,5421,482,1461,305,268
2020-11-20$12.12$13.5033.6%9.5%47.8%11.5%34.9%-1.2%0.6%1.4M89.1M-3.8M0.442.17N/AN/A91,41040,5021,513,5341,313,500
2020-11-23$11.62$13.5035.8%10.5%49.6%14.7%37.9%-1.9%-0.5%-523.1K55.2M-3.7M0.352.68N/AN/A149,15651,7681,346,4321,174,010
2020-11-24$11.38$13.0036.8%10.8%49.0%16.1%38.4%-2.2%-0.4%-1.3M104.9M-3.6M0.412.68N/AN/A146,91260,7981,392,7101,201,730
2020-11-25$11.40$13.0036.3%10.6%47.5%15.4%37.9%-2.6%-0.4%-126.8K77.4M-3.7M0.442.44N/AN/A97,81643,3601,457,9401,224,980
2020-11-27$11.30$13.0035.7%10.6%47.0%14.6%38.3%-2.5%-1.2%-4.1M139.9M-3.8M0.473.31N/AN/A96,36045,2921,451,5021,246,306
2020-11-30$11.54$13.0037.3%11.0%47.3%16.8%40.3%-3.0%-0.2%1.8M51.1M-4.0M0.313.41N/AN/A142,92044,4461,446,4721,238,950