GOLD Options History — September 2022

In September 2022, GOLD traded between $14.13 and $15.94. ATM implied volatility averaged 41.1%, placing in the 61.7% IV rank vs the trailing year. The 30-day expected move averaged 11.8%. IV traded above realized volatility by 7.7% (HV 20d: 33.4%). Max pain ranged from $15.00 to $17.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.39.

Notable Days

2022-09-23: Highest Volume — 78,885 contracts
2022-09-23: Largest IV spike — 7.3% change
2022-09-29: Highest IV Rank — 92.6%
2022-09-29: Largest Expected Move — 13.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.13	$14.13	$15.94	$14.55	$15.52
Max Pain	$15.19	$15.00	$17.00	$17.00	$15.00
ATM IV	41.1%	36.1%	48.0%	40.1%	47.0%
Expected Move	11.8%	10.4%	13.8%	11.7%	13.6%
HV 20d	33.4%	27.7%	38.4%	31.9%	38.4%
HV 60d	34.2%	32.9%	35.9%	35.6%	34.6%
IV Rank	61.7%	39.6%	92.6%	57.7%	88.1%
IV Percentile	82.3%	58.7%	99.2%	81.3%	98.8%
Term Structure	0.2%	-0.7%	2.0%	-0.5%	2.0%
VWIV	41.6%	36.7%	48.0%	41.3%	47.1%
Skew 25d	2.4%	1.6%	3.5%	1.8%	1.9%
Skew 10d	3.9%	1.7%	7.0%	2.7%	1.7%
Call IV 25d	40.7%	35.7%	47.1%	39.9%	46.5%
Put IV 25d	43.1%	37.7%	49.6%	41.7%	48.4%
Bid-Ask Spread %	2.50	1.73	3.56	2.51	3.31
Gamma HHI	0.10	0.08	0.15	0.10	0.14
Net GEX	2.1M	-798.2K	7.9M	-798.2K	7.9M
Net DEX	137.4M	-22.9M	259.4M	259.4M	-22.9M
Net VEX	-2.7M	-3.1M	-2.4M	-2.5M	-3.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.39	0.17	0.78	0.43	0.23
Total Volume	54,165.571	28,798	78,885	43,943	67,106
Total OI	1,269,818.381	1,133,238	1,366,965	1,291,304	1,293,867

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2022-09-01	$14.55	$17.00	40.1%	11.7%	31.9%	57.7%	41.3%	1.8%	-0.5%	-798.2K	259.4M	-2.5M	0.43	2.51	N/A	N/A	30,733	13,210	826,074	465,230
2022-09-02	$14.84	$17.00	38.3%	10.7%	32.6%	49.6%	38.2%	2.0%	0.3%	571.9K	235.8M	-2.6M	0.31	1.93	N/A	N/A	44,337	13,802	836,474	468,927
2022-09-06	$14.80	$15.00	39.8%	11.5%	27.7%	56.0%	40.3%	2.6%	-0.4%	188.2K	238.2M	-2.4M	0.40	1.73	N/A	N/A	35,845	14,491	828,843	461,024
2022-09-07	$15.34	$15.00	38.7%	11.2%	30.8%	51.4%	39.2%	2.3%	-0.2%	2.4M	167.5M	-2.7M	0.35	1.97	N/A	N/A	48,448	17,048	846,522	466,292
2022-09-08	$15.57	$15.00	38.1%	10.9%	31.3%	48.6%	39.0%	2.7%	0.1%	2.9M	143.5M	-2.7M	0.48	1.93	N/A	N/A	22,502	10,767	850,459	466,506
2022-09-09	$15.94	$15.00	36.1%	10.4%	32.6%	39.6%	36.9%	2.1%	-0.3%	4.6M	74.6M	-2.9M	0.50	2.11	N/A	N/A	23,211	11,538	852,929	469,401
2022-09-12	$15.94	$15.00	36.3%	10.5%	31.5%	40.3%	36.7%	2.7%	0.4%	3.0M	90.1M	-2.9M	0.30	2.84	N/A	N/A	41,419	12,262	839,886	467,144
2022-09-13	$15.50	$15.00	37.9%	11.1%	32.8%	47.6%	38.0%	2.3%	0.6%	1.9M	163.9M	-2.7M	0.43	1.81	N/A	N/A	49,958	21,684	856,496	470,898
2022-09-14	$15.59	$15.00	38.0%	10.9%	32.5%	48.2%	39.2%	3.2%	0.1%	3.2M	127.1M	-2.9M	0.62	2.93	N/A	N/A	24,387	15,040	873,522	477,064
2022-09-15	$15.14	$15.00	40.1%	11.5%	33.0%	57.3%	40.7%	3.5%	0.5%	559.2K	196.8M	-2.6M	0.39	2.62	N/A	N/A	48,396	18,863	884,373	480,474
2022-09-16	$15.32	$15.00	40.7%	11.7%	33.5%	59.7%	41.1%	3.2%	0.3%	3.5M	158.3M	-2.8M	0.78	2.48	N/A	N/A	33,849	26,309	889,430	477,535
2022-09-19	$15.45	$15.00	39.5%	11.3%	33.1%	53.9%	40.0%	2.9%	0.2%	2.5M	76.4M	-2.8M	0.40	2.32	N/A	N/A	20,828	8,328	726,472	406,766
2022-09-20	$15.07	$15.00	41.8%	12.0%	33.9%	64.8%	41.9%	1.6%	-0.7%	1.5M	123.3M	-2.6M	0.19	2.46	N/A	N/A	51,622	9,580	734,921	409,896
2022-09-21	$15.20	$15.00	40.6%	11.6%	34.1%	59.2%	40.5%	2.0%	0.4%	2.3M	99.8M	-2.7M	0.76	2.81	N/A	N/A	39,732	30,357	760,500	413,823
2022-09-22	$15.16	$15.00	41.0%	11.8%	33.8%	60.8%	40.6%	2.6%	-0.5%	2.3M	94.3M	-2.8M	0.24	2.58	N/A	N/A	41,645	9,914	774,192	417,689
2022-09-23	$14.52	$15.00	43.9%	12.6%	36.6%	74.3%	44.1%	2.1%	-0.7%	-774.9K	135.6M	-2.6M	0.21	3.05	N/A	N/A	65,251	13,634	791,891	418,428
2022-09-26	$14.16	$15.00	45.9%	13.4%	33.2%	83.4%	47.7%	2.3%	-0.1%	486.5K	167.0M	-2.5M	0.48	3.56	N/A	N/A	30,959	14,990	805,605	417,298
2022-09-27	$14.13	$15.00	45.8%	13.3%	33.2%	82.7%	46.2%	2.0%	0.8%	212.5K	182.9M	-2.4M	0.31	2.31	N/A	N/A	21,958	6,840	815,466	421,599
2022-09-28	$14.88	$15.00	45.1%	13.2%	37.7%	79.4%	46.1%	2.1%	1.7%	1.9M	108.1M	-2.7M	0.17	1.91	N/A	N/A	54,821	9,368	817,666	422,844
2022-09-29	$15.04	$15.00	48.0%	13.8%	37.8%	92.6%	48.0%	2.5%	0.2%	3.4M	66.1M	-2.8M	0.27	3.35	N/A	N/A	48,991	13,454	837,201	424,559
2022-09-30	$15.52	$15.00	47.0%	13.6%	38.4%	88.1%	47.1%	1.9%	2.0%	7.9M	-22.9M	-3.1M	0.23	3.31	N/A	N/A	54,512	12,594	863,670	430,197