GOLD Options History — January 2022

In January 2022, GOLD traded between $9.02 and $10.09. ATM implied volatility averaged 33.0%, placing in the 27.2% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded above realized volatility by 0.4% (HV 20d: 32.6%). Max pain ranged from $9.00 to $10.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.42.

Notable Days

  • 2022-01-19: Highest Volume — 348,260 contracts
  • 2022-01-18: Largest IV spike — 9.3% change
  • 2022-01-25: Highest IV Rank — 56.1%
  • 2022-01-25: Largest Expected Move — 11.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.46$9.02$10.09$9.28$9.54
Max Pain$9.57$9.00$10.00$10.00$9.75
ATM IV33.0%28.8%39.0%29.1%35.1%
Expected Move9.7%7.8%11.5%8.1%10.5%
HV 20d32.6%23.9%43.2%25.0%43.2%
HV 60d29.0%26.0%33.0%26.0%33.0%
IV Rank27.2%7.4%56.1%8.6%37.5%
IV Percentile53.0%12.3%88.5%15.9%83.3%
Term Structure0.0%-3.1%2.1%0.4%-0.9%
VWIV34.6%28.8%40.9%29.8%36.8%
Skew 25d-0.4%-2.7%2.5%-0.7%2.5%
Skew 10d-1.7%-5.4%1.4%-1.2%1.4%
Call IV 25d34.2%30.0%39.8%30.5%33.7%
Put IV 25d33.7%29.6%39.6%29.7%36.3%
Bid-Ask Spread %3.242.209.862.203.97
Gamma HHI0.120.090.190.120.11
Net GEX3.9M-2.6M12.7M2.7M2.7M
Net DEX63.4M-199.2M272.7M172.4M-66.0M
Net VEX-3.9M-4.2M-3.6M-3.9M-4.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.420.210.570.370.39
Total Volume109,290.754,756348,26083,24463,606
Total OI2,719,646.81,824,4663,125,3082,998,1661,933,310

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-01-03$9.28$10.0029.1%8.1%25.0%8.6%29.8%-0.7%0.4%2.7M172.4M-3.9M0.372.20N/AN/A60,85222,3921,868,6501,129,516
2022-01-04$9.38$10.0029.1%8.0%24.6%8.7%28.8%-1.1%0.9%2.9M145.0M-4.0M0.322.28N/AN/A41,52013,2361,863,3901,142,910
2022-01-05$9.30$10.0028.8%7.8%24.7%7.4%29.1%-0.8%-0.0%2.2M178.1M-3.8M0.302.36N/AN/A70,08820,8881,870,3481,145,222
2022-01-06$9.02$9.5029.2%8.8%27.0%9.1%31.1%-0.5%0.7%-2.1M272.7M-3.6M0.412.70N/AN/A85,65235,2381,879,1021,152,274
2022-01-07$9.05$9.5029.1%8.9%25.8%8.6%31.5%-0.4%1.2%-2.6M247.0M-3.8M0.523.22N/AN/A43,56222,5321,918,7241,166,432
2022-01-10$9.30$9.5031.0%9.3%27.2%17.9%33.3%0.9%1.4%2.2M167.7M-3.9M0.342.41N/AN/A71,70024,1501,896,3521,151,242
2022-01-11$9.41$9.0030.6%9.1%27.4%15.6%32.9%-0.3%1.0%4.4M125.7M-4.0M0.392.35N/AN/A53,39820,7961,912,8541,160,064
2022-01-12$9.58$9.0029.4%8.9%27.6%10.1%31.9%-0.4%1.7%7.1M64.4M-4.0M0.542.80N/AN/A68,58836,7981,927,4981,162,710
2022-01-13$9.45$9.5029.5%8.8%27.6%10.4%31.7%-0.8%1.4%5.9M121.1M-3.9M0.392.70N/AN/A44,83817,6701,934,6881,174,826
2022-01-14$9.37$9.5029.9%9.0%23.9%12.6%32.2%0.0%2.1%4.4M156.1M-3.9M0.262.63N/AN/A70,70818,2381,942,4561,182,852
2022-01-18$9.28$9.5032.7%9.4%24.1%25.9%34.1%-0.7%-0.5%2.2M189.6M-3.7M0.492.36N/AN/A56,31027,5381,930,9541,160,548
2022-01-19$10.09$9.5035.0%10.0%38.0%37.0%36.5%-2.7%-0.2%12.7M-199.2M-4.2M0.212.80N/AN/A288,33059,9301,947,9001,165,298
2022-01-20$9.97$9.5034.3%9.9%38.4%33.4%35.5%-2.4%-0.8%11.1M-100.2M-4.1M0.573.12N/AN/A112,95264,0981,933,1341,177,246
2022-01-21$9.65$9.5036.4%10.5%40.6%43.6%37.9%-1.1%-1.6%6.4M85.1M-4.0M0.439.86N/AN/A123,30052,9081,926,7861,173,964
2022-01-24$9.64$9.5038.8%11.4%40.6%55.1%40.9%-0.2%-0.7%4.6M-102.0M-4.0M0.493.24N/AN/A74,37636,7541,122,516701,950
2022-01-25$9.76$9.5039.0%11.5%40.6%56.1%40.5%-0.6%-1.8%5.9M-134.2M-4.1M0.483.26N/AN/A63,56030,3141,141,556714,370
2022-01-26$9.51$9.7538.6%11.1%41.8%54.0%39.1%-0.1%-3.1%3.9M-64.3M-3.9M0.483.97N/AN/A57,17227,1741,163,922730,224
2022-01-27$9.35$9.7537.4%11.3%42.3%48.5%39.9%-0.6%-0.2%1.9M-15.3M-3.9M0.513.19N/AN/A77,26839,1341,174,614740,594
2022-01-28$9.22$9.7536.4%10.9%41.6%43.4%38.5%1.2%-0.4%-299.4K24.8M-3.8M0.523.42N/AN/A58,04030,2061,213,324758,616
2022-01-31$9.54$9.7535.1%10.5%43.2%37.5%36.8%2.5%-0.9%2.7M-66.0M-4.0M0.393.97N/AN/A45,60618,0001,187,300746,010