GOLD Options History — November 2021

In November 2021, GOLD traded between $9.23 and $10.50. ATM implied volatility averaged 31.3%, placing in the 19.3% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 3.8% (HV 20d: 27.5%). Max pain ranged from $9.75 to $10.50. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.32.

Notable Days

  • 2021-11-10: Highest Volume — 296,436 contracts
  • 2021-11-26: Largest IV spike — 11.3% change
  • 2021-11-26: Highest IV Rank — 32.9%
  • 2021-11-30: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.87$9.23$10.50$9.26$9.55
Max Pain$10.42$9.75$10.50$10.00$10.50
ATM IV31.3%30.1%34.2%31.2%33.5%
Expected Move9.1%8.5%10.0%9.3%10.0%
HV 20d27.5%22.3%31.7%22.6%28.8%
HV 60d26.5%25.3%28.0%26.6%25.5%
IV Rank19.3%13.2%32.9%18.6%29.7%
IV Percentile38.5%23.4%65.9%35.3%62.3%
Term Structure0.0%-1.1%1.3%-0.6%0.2%
VWIV33.1%30.8%36.4%33.1%36.0%
Skew 25d-1.4%-2.2%-0.2%-1.6%-0.5%
Skew 10d-4.5%-8.3%-1.8%-4.1%-2.8%
Call IV 25d33.0%30.7%36.0%32.7%35.0%
Put IV 25d31.6%29.8%34.8%31.1%34.5%
Bid-Ask Spread %2.771.854.133.012.65
Gamma HHI0.110.100.140.100.10
Net GEX7.6M-17.8K15.6M738.9K5.3M
Net DEX-5.6M-290.3M253.6M232.1M124.9M
Net VEX-4.9M-5.3M-4.4M-4.4M-4.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.320.160.690.610.23
Total Volume121,172.47655,670296,43689,266144,660
Total OI3,189,135.813,042,7663,327,5083,042,7663,247,640

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-11-01$9.26$10.0031.2%9.3%22.6%18.6%33.1%-1.6%-0.6%738.9K232.1M-4.4M0.613.01N/AN/A55,60833,6581,865,1601,177,606
2021-11-02$9.23$10.0031.6%9.4%22.5%20.9%33.5%-1.1%-0.5%-17.8K253.6M-4.4M0.253.26N/AN/A44,40011,2701,884,6941,192,188
2021-11-03$9.35$9.7530.7%9.3%22.5%16.5%33.7%-1.5%1.1%1.3M220.8M-4.4M0.253.76N/AN/A80,02220,1461,904,4901,194,112
2021-11-04$9.38$10.5031.3%8.7%22.3%19.4%30.8%-1.1%0.1%1.9M207.7M-4.5M0.321.85N/AN/A60,04219,1361,919,8081,201,258
2021-11-05$9.79$10.5030.7%8.8%26.8%16.1%31.4%-2.0%-1.1%7.4M35.1M-4.8M0.182.39N/AN/A157,84228,5421,929,7561,203,222
2021-11-08$9.71$10.5030.1%8.7%27.0%13.3%31.2%-0.9%0.8%5.4M84.5M-4.7M0.312.40N/AN/A94,44429,2001,914,6381,193,976
2021-11-09$9.79$10.5030.1%8.9%27.0%13.2%31.7%-0.9%0.8%7.8M34.0M-4.8M0.322.41N/AN/A53,32016,9101,953,1681,203,558
2021-11-10$10.22$10.5032.4%9.1%29.1%24.3%33.2%-2.1%-0.6%11.8M-172.5M-5.1M0.303.06N/AN/A228,63467,8021,964,1601,207,982
2021-11-11$10.33$10.5031.0%9.1%28.7%17.9%33.1%-1.4%0.7%13.7M-228.6M-5.2M0.292.39N/AN/A109,05232,0001,999,0821,219,680
2021-11-12$10.39$10.5031.9%9.1%26.9%21.8%32.8%-2.2%-0.3%15.6M-271.0M-5.3M0.392.82N/AN/A100,40439,0422,030,2761,224,110
2021-11-15$10.44$10.5031.5%9.0%26.8%20.3%33.5%-1.1%-0.3%13.8M-261.0M-5.2M0.322.43N/AN/A74,37823,9322,003,6021,205,998
2021-11-16$10.32$10.5031.3%9.0%27.3%18.9%32.1%-1.6%-0.6%12.1M-197.7M-5.1M0.342.19N/AN/A69,78223,9262,007,6681,214,320
2021-11-17$10.50$10.5030.8%8.8%27.7%16.6%32.0%-1.9%0.1%14.7M-290.3M-5.2M0.692.93N/AN/A70,60448,8662,015,9021,220,130
2021-11-18$10.27$10.5030.7%8.9%29.3%16.4%33.9%-2.2%-0.7%10.1M-155.1M-5.1M0.162.54N/AN/A102,30416,6682,017,5921,246,510
2021-11-19$10.13$10.5030.2%8.5%29.7%13.9%33.9%-1.8%1.3%8.1M-101.2M-5.1M0.252.57N/AN/A110,70627,4102,079,7621,247,746
2021-11-22$9.91$10.5030.8%8.8%30.9%16.7%33.5%-1.8%0.2%6.4M11.5M-4.9M0.212.76N/AN/A159,72033,5821,976,0361,170,762
2021-11-23$9.72$10.5031.0%8.8%31.7%17.6%33.1%-0.9%-0.0%5.6M86.8M-4.7M0.352.99N/AN/A87,58830,4262,026,1181,177,570
2021-11-24$9.71$10.5030.7%8.8%31.6%16.3%32.2%-1.6%0.0%5.5M89.6M-4.7M0.392.91N/AN/A48,30818,9822,052,8621,185,490
2021-11-26$9.70$10.5034.2%9.7%30.2%32.9%36.4%-1.2%-0.3%6.3M82.1M-4.8M0.234.13N/AN/A68,88215,8342,073,0261,201,482
2021-11-29$9.60$10.5032.6%9.6%28.7%25.2%34.8%-0.2%0.4%5.8M97.4M-4.9M0.232.74N/AN/A70,37216,2182,030,9401,187,772
2021-11-30$9.55$10.5033.5%10.0%28.8%29.7%36.0%-0.5%0.2%5.3M124.9M-4.8M0.232.65N/AN/A117,81826,8422,057,0441,190,596