GOLD Options History — May 2021

In May 2021, GOLD traded between $11.03 and $12.63. ATM implied volatility averaged 32.3%, placing in the 8.7% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded below realized volatility by 1.7% (HV 20d: 34.0%). Max pain ranged from $10.50 to $11.75. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.38.

Notable Days

  • 2021-05-17: Highest Volume — 304,484 contracts
  • 2021-05-04: Largest IV spike — 37.4% change
  • 2021-05-04: Highest IV Rank — 57.6%
  • 2021-05-04: Largest Expected Move — 10.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.99$11.03$12.63$11.14$12.06
Max Pain$11.03$10.50$11.75$10.50$11.75
ATM IV32.3%29.2%45.0%32.7%29.5%
Expected Move9.1%8.1%10.2%9.7%8.1%
HV 20d34.0%28.4%37.0%28.4%36.5%
HV 60d32.3%29.1%34.2%32.1%29.4%
IV Rank8.7%0.0%57.6%6.8%1.2%
IV Percentile8.0%0.0%64.7%7.1%0.8%
Term Structure-0.7%-11.1%1.1%0.0%0.2%
VWIV32.8%28.4%36.1%34.6%29.6%
Skew 25d-0.8%-4.1%21.1%-3.9%-2.1%
Skew 10d-5.8%-8.3%-2.1%-6.9%-5.3%
Call IV 25d34.0%31.5%37.3%35.1%31.5%
Put IV 25d33.2%29.3%57.0%31.3%29.4%
Bid-Ask Spread %4.242.2721.379.602.72
Gamma HHI0.160.100.370.110.15
Net GEX20.9M11.4M36.1M11.4M19.9M
Net DEX-627.8M-954.4M-262.6M-320.7M-453.1M
Net VEX-6.0M-6.2M-5.6M-6.1M-5.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.190.800.190.33
Total Volume140,622.168,714304,484127,370103,658
Total OI2,935,978.92,795,7763,033,6402,883,2342,895,156

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-05-03$11.14$10.5032.7%9.7%28.4%6.8%34.6%-3.9%0.0%11.4M-320.7M-6.1M0.199.60N/AN/A106,99420,3761,754,3781,128,856
2021-05-04$11.03$10.5045.0%10.2%28.7%57.6%36.1%21.1%-11.1%11.5M-262.6M-6.0M0.4621.37N/AN/A65,81630,0421,791,5161,137,012
2021-05-05$11.12$10.7530.9%8.6%28.4%0.0%30.7%-1.4%-0.6%13.5M-305.1M-6.0M0.362.88N/AN/A50,57618,1381,802,5421,147,032
2021-05-06$11.77$11.0032.6%9.4%33.8%6.7%33.2%-2.7%-0.7%21.3M-633.9M-6.2M0.223.04N/AN/A216,40247,6521,814,4081,155,430
2021-05-07$11.93$11.0030.3%8.9%33.9%0.0%31.6%-2.4%0.5%22.4M-699.7M-6.2M0.333.14N/AN/A166,87854,8941,810,0661,164,832
2021-05-10$11.99$11.0032.0%9.1%33.4%6.7%32.7%-2.4%-0.2%22.4M-677.3M-6.2M0.303.14N/AN/A131,02439,6501,786,8241,156,676
2021-05-11$11.99$11.0032.9%9.3%33.5%10.6%33.5%-2.0%-0.3%21.9M-667.6M-6.2M0.532.83N/AN/A48,66626,0241,802,2441,162,928
2021-05-12$11.76$11.0034.3%9.8%34.7%16.0%35.4%-2.6%0.1%18.8M-531.0M-6.2M0.383.06N/AN/A71,00627,0681,807,8341,165,096
2021-05-13$11.79$11.0033.5%9.5%31.5%12.9%34.9%-1.1%-0.1%19.7M-544.6M-6.1M0.382.43N/AN/A57,48421,9261,808,7781,171,970
2021-05-14$12.01$11.0030.9%8.7%32.0%2.3%31.9%-1.6%-0.8%36.1M-670.8M-6.1M0.372.30N/AN/A58,33021,2941,812,5461,170,152
2021-05-17$12.63$11.0034.2%9.8%35.8%15.7%34.6%-2.8%-1.2%23.2M-954.4M-6.0M0.242.37N/AN/A245,12859,3561,774,1341,151,452
2021-05-18$12.57$11.0032.7%9.4%35.9%9.6%33.6%-4.1%0.1%24.5M-930.2M-6.0M0.332.49N/AN/A92,31430,7521,809,9421,165,540
2021-05-19$12.30$11.0033.9%9.7%37.0%14.4%35.5%-2.5%-0.9%23.3M-783.5M-6.0M0.242.74N/AN/A134,87232,9681,813,3001,174,138
2021-05-20$12.43$11.0031.4%9.0%36.5%4.5%33.1%-2.1%0.1%27.1M-852.1M-6.0M0.312.49N/AN/A77,23223,8021,821,5681,183,760
2021-05-21$12.36$11.0031.1%8.9%36.3%3.3%32.1%-1.3%-0.7%20.7M-804.3M-6.0M0.542.27N/AN/A78,51842,6321,837,3661,196,274
2021-05-24$12.35$11.0029.3%8.3%36.2%0.0%31.1%-2.7%1.1%21.4M-713.5M-5.7M0.352.41N/AN/A56,03419,4641,725,5901,070,186
2021-05-25$12.30$11.0029.8%8.7%35.1%2.0%30.7%-1.5%0.3%20.6M-688.3M-5.8M0.802.89N/AN/A69,64255,7901,740,2701,081,164
2021-05-26$12.30$11.5029.2%8.3%35.1%0.0%28.4%-2.1%0.6%21.8M-695.9M-5.6M0.212.81N/AN/A206,48443,3181,770,3281,124,210
2021-05-27$11.93$11.5030.1%8.7%36.6%3.7%32.1%3.6%-0.7%15.4M-367.3M-5.9M0.717.82N/AN/A93,94666,2921,682,4821,151,598
2021-05-28$12.06$11.7529.5%8.1%36.5%1.2%29.6%-2.1%0.2%19.9M-453.1M-5.9M0.332.72N/AN/A77,95825,7001,724,7541,170,402