GOLD Options History — September 2021

In September 2021, GOLD traded between $8.80 and $10.18. ATM implied volatility averaged 29.4%, placing in the 10.0% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 0.8% (HV 20d: 28.6%). Max pain ranged from $9.75 to $10.50. Net GEX was positive for 9 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.36.

Notable Days

  • 2021-09-03: Highest Volume — 197,728 contracts
  • 2021-09-20: Largest IV spike — 15.8% change
  • 2021-09-20: Highest IV Rank — 34.5%
  • 2021-09-20: Largest Expected Move — 9.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.47$8.80$10.18$9.92$9.03
Max Pain$10.01$9.75$10.50$10.50$9.75
ATM IV29.4%27.3%34.5%27.8%31.8%
Expected Move8.5%7.6%9.9%7.6%9.3%
HV 20d28.6%23.4%32.9%31.8%25.9%
HV 60d26.9%24.8%28.5%28.3%26.9%
IV Rank10.0%0.0%34.5%1.7%21.7%
IV Percentile13.8%0.0%49.2%0.4%36.1%
Term Structure0.3%-1.2%1.6%0.4%1.6%
VWIV30.6%27.0%35.5%27.0%33.9%
Skew 25d-0.2%-0.9%0.4%0.3%-0.0%
Skew 10d-1.0%-4.5%1.2%-0.2%0.2%
Call IV 25d30.5%28.1%35.7%28.7%32.9%
Put IV 25d30.3%28.0%35.9%29.0%32.9%
Bid-Ask Spread %2.582.263.222.552.78
Gamma HHI0.110.080.190.090.08
Net GEX-700.5K-5.0M6.5M730.9K249.0K
Net DEX273.2M52.5M434.9M181.1M312.3M
Net VEX-4.2M-4.9M-3.8M-4.6M-4.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.360.140.660.490.28
Total Volume105,839.8157,320197,72869,012122,846
Total OI3,003,102.192,672,5623,221,4923,044,2522,955,264

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-09-01$9.92$10.5027.8%7.6%31.8%1.7%27.0%0.3%0.4%730.9K181.1M-4.6M0.492.55N/AN/A46,42022,5921,822,8621,221,390
2021-09-02$9.95$10.0027.4%8.0%31.4%0.0%28.5%0.3%0.2%1.7M171.8M-4.6M0.142.77N/AN/A62,5948,8401,857,2741,227,814
2021-09-03$10.18$10.0027.8%8.3%32.0%1.8%30.6%0.2%0.5%6.5M52.5M-4.9M0.202.79N/AN/A165,10032,6281,873,1801,238,426
2021-09-07$9.92$10.0028.5%8.3%32.9%5.3%30.3%-0.7%0.5%378.3K166.4M-4.6M0.382.54N/AN/A72,10627,6481,841,7801,220,134
2021-09-08$9.93$10.0029.0%8.4%30.6%7.9%30.2%-0.9%0.2%-177.5K172.9M-4.6M0.662.26N/AN/A47,74031,3901,873,0721,234,734
2021-09-09$9.85$10.0028.8%8.3%29.5%6.8%29.7%-0.2%-0.1%-2.0M206.0M-4.6M0.412.32N/AN/A40,59216,7281,897,9921,248,162
2021-09-10$9.70$10.0028.4%8.1%29.5%4.8%29.1%-0.8%-0.3%-4.7M282.9M-4.4M0.552.36N/AN/A57,29431,6601,910,2021,259,776
2021-09-13$9.72$10.0028.6%8.2%28.9%5.9%30.3%-0.4%-0.1%-4.0M261.2M-4.3M0.262.43N/AN/A60,86215,5681,887,8721,245,490
2021-09-14$9.76$10.0028.9%8.3%29.0%7.2%29.5%-0.1%-1.2%-3.3M244.0M-4.4M0.562.35N/AN/A61,37434,2061,909,2541,254,312
2021-09-15$9.70$10.0027.3%7.8%28.7%0.0%28.0%-0.1%-0.1%-4.7M284.4M-4.2M0.282.39N/AN/A60,44617,0881,923,1021,256,764
2021-09-16$9.29$10.0029.2%8.4%31.5%9.1%30.2%-0.6%-1.0%-5.0M401.6M-4.0M0.402.62N/AN/A123,14249,6321,942,4341,259,576
2021-09-17$9.16$10.0029.8%8.5%31.4%12.0%30.9%-0.8%0.4%-2.1M434.9M-3.9M0.512.30N/AN/A104,65653,4081,957,1361,264,356
2021-09-20$9.28$10.0034.5%9.9%31.7%34.5%35.5%0.3%-0.6%-104.7K258.3M-4.2M0.262.75N/AN/A99,08425,9261,581,9361,090,626
2021-09-21$9.27$10.0032.1%9.2%26.3%23.1%33.6%0.1%0.4%718.0K265.1M-4.1M0.423.22N/AN/A61,19025,5381,627,3221,113,814
2021-09-22$9.22$10.0030.5%8.7%26.3%15.2%31.6%-0.8%0.1%837.2K290.1M-4.0M0.362.94N/AN/A76,84227,6621,654,4161,132,140
2021-09-23$9.11$10.0028.6%8.3%26.2%6.1%29.8%-0.3%1.3%1.1M330.0M-3.9M0.262.62N/AN/A95,00624,3181,679,1961,144,282
2021-09-24$9.04$10.0027.7%8.1%26.2%1.7%29.2%-0.7%0.1%4.5M342.6M-3.9M0.272.67N/AN/A62,88016,8881,707,4621,159,738
2021-09-27$8.98$10.0028.9%8.3%24.0%7.8%30.2%-0.2%1.1%-2.1M361.0M-3.9M0.202.32N/AN/A68,27813,8161,671,5621,152,402
2021-09-28$9.04$10.0031.1%9.1%23.4%18.3%32.3%0.2%1.3%-1.2M328.1M-4.0M0.372.69N/AN/A106,40039,3941,704,3401,161,794
2021-09-29$8.80$10.0031.3%9.0%23.4%19.0%32.4%0.4%1.6%-1.9M389.8M-3.8M0.392.61N/AN/A81,46631,3881,734,1401,167,618
2021-09-30$9.03$9.7531.8%9.3%25.9%21.7%33.9%-0.0%1.6%249.0K312.3M-4.1M0.282.78N/AN/A95,97026,8761,778,0721,177,192