GOLD Options History — December 2020

In December 2020, GOLD traded between $11.21 and $12.01. ATM implied volatility averaged 37.1%, placing in the 16.3% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded above realized volatility by 4.6% (HV 20d: 32.5%). Max pain ranged from $11.00 to $13.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 0.38.

Notable Days

  • 2020-12-31: Highest Volume — 229,654 contracts
  • 2020-12-23: Largest IV drop — 5.5% change
  • 2020-12-21: Highest IV Rank — 18.6%
  • 2020-12-21: Largest Expected Move — 11.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.60$11.21$12.01$11.95$11.40
Max Pain$11.18$11.00$13.00$13.00$11.00
ATM IV37.1%35.1%38.5%36.4%37.4%
Expected Move10.7%10.0%11.4%10.8%10.5%
HV 20d32.5%24.2%49.2%49.2%24.8%
HV 60d36.2%34.8%37.5%37.5%34.8%
IV Rank16.3%12.9%18.6%15.5%16.2%
IV Percentile24.7%15.9%30.2%25.4%23.8%
Term Structure0.4%-0.8%1.4%0.5%0.3%
VWIV39.1%36.0%41.3%40.1%39.5%
Skew 25d-2.9%-4.5%-1.7%-3.4%-1.8%
Skew 10d-6.8%-12.0%-2.6%-5.1%-4.7%
Call IV 25d39.7%36.7%41.9%39.5%39.1%
Put IV 25d36.8%34.7%38.6%36.1%37.3%
Bid-Ask Spread %5.092.8010.612.858.15
Gamma HHI0.090.070.150.080.09
Net GEX5.5M237.8K12.2M6.4M4.4M
Net DEX-27.6M-124.0M149.5M-105.4M-7.4M
Net VEX-4.2M-4.3M-3.9M-4.3M-4.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.171.120.231.12
Total Volume124,264.09156,746229,654179,628229,654
Total OI2,820,121.8182,564,8243,014,7022,778,7582,723,768

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$11.95$13.0036.4%10.8%49.2%15.5%40.1%-3.4%0.5%6.4M-105.4M-4.3M0.232.85N/AN/A146,47633,1521,508,7641,269,994
2020-12-02$12.01$13.0037.6%11.2%47.9%17.2%39.8%-2.0%0.8%7.3M-124.0M-4.3M0.302.80N/AN/A85,44025,4601,531,6241,289,788
2020-12-03$11.80$11.0037.5%11.1%48.0%17.1%39.4%-3.2%1.4%5.8M-44.5M-4.3M0.254.70N/AN/A103,10225,3841,555,8721,297,092
2020-12-04$11.72$11.0036.8%10.7%37.4%16.1%38.3%-2.1%1.1%9.3M-21.9M-4.3M0.364.07N/AN/A78,69028,6581,579,0161,307,888
2020-12-07$11.95$11.0038.3%10.9%38.8%18.2%39.7%-3.9%-0.2%5.2M-97.6M-4.3M0.254.21N/AN/A104,88825,8281,538,1141,299,364
2020-12-08$11.94$11.0037.5%10.8%30.6%17.2%39.0%-3.6%-0.3%6.3M-105.8M-4.3M0.455.09N/AN/A70,62231,5721,568,5421,305,860
2020-12-09$11.68$11.0037.4%10.6%29.9%17.0%39.2%-3.1%-0.8%3.5M-2.8M-4.3M0.394.59N/AN/A82,93832,7021,594,7741,319,826
2020-12-10$11.56$11.0037.5%10.7%29.8%17.1%40.1%-1.9%0.1%1.9M47.1M-4.2M0.284.20N/AN/A68,33219,0661,602,0401,327,666
2020-12-11$11.44$11.0037.2%10.8%29.6%16.7%41.3%-3.1%0.4%1.2M78.1M-4.1M0.253.78N/AN/A75,79419,1261,622,7061,331,900
2020-12-14$11.21$11.0036.3%10.4%29.9%15.4%40.0%-4.0%1.1%237.8K149.5M-4.0M0.373.82N/AN/A70,27425,9401,593,1281,316,636
2020-12-15$11.42$11.0037.8%10.8%31.3%17.5%40.4%-4.5%-0.3%2.5M57.8M-4.1M0.353.78N/AN/A91,09032,2501,612,2681,321,170
2020-12-16$11.54$11.0037.7%10.8%31.3%17.4%39.6%-3.9%-0.2%4.6M10.8M-4.2M0.243.67N/AN/A78,57419,1901,648,2081,328,786
2020-12-17$11.82$11.0037.6%10.8%30.9%17.3%39.4%-3.3%-0.5%11.0M-107.4M-4.3M0.244.08N/AN/A129,98031,2021,664,7281,335,218
2020-12-18$11.69$11.0036.6%10.5%30.5%15.8%38.7%-3.1%0.5%12.2M-41.9M-4.2M0.384.08N/AN/A73,51427,8761,676,4621,338,240
2020-12-21$11.49$11.0038.5%11.4%30.8%18.6%40.5%-3.1%0.7%6.7M-68.0M-4.1M0.1710.61N/AN/A146,83625,6521,371,3861,193,438
2020-12-22$11.22$11.0038.1%11.1%28.2%18.0%40.4%-2.1%0.9%4.8M25.9M-4.0M0.284.19N/AN/A115,70232,4561,451,5541,203,292
2020-12-23$11.43$11.0036.0%10.2%28.2%14.3%36.4%-2.6%0.4%6.4M-46.7M-4.1M0.517.23N/AN/A69,20435,0881,501,7561,216,756
2020-12-24$11.44$11.0035.1%10.0%28.2%12.9%36.0%-2.1%0.9%5.1M-43.5M-4.1M0.457.45N/AN/A39,16217,5841,508,7041,234,094
2020-12-28$11.40$11.0036.0%10.4%28.0%14.2%37.7%-2.5%0.8%4.7M-32.0M-3.9M0.383.40N/AN/A95,65836,0841,389,9641,223,446
2020-12-29$11.47$11.0036.2%10.2%27.1%14.5%37.1%-2.1%0.7%4.9M-36.1M-4.0M0.397.33N/AN/A58,22422,8461,412,8641,245,900
2020-12-30$11.62$11.0036.5%10.3%24.2%14.9%37.2%-1.7%0.2%6.9M-90.6M-4.1M0.737.95N/AN/A99,48673,0541,426,1761,253,908
2020-12-31$11.40$11.0037.4%10.5%24.8%16.2%39.5%-1.8%0.3%4.4M-7.4M-4.0M1.128.15N/AN/A108,318121,3361,450,3781,273,390