GOLD Options History — February 2023

In February 2023, GOLD traded between $15.96 and $20.11. ATM implied volatility averaged 35.6%, placing in the 24.2% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded above realized volatility by 1.6% (HV 20d: 34.0%). Max pain ranged from $17.00 to $18.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.44.

Notable Days

  • 2023-02-03: Highest Volume — 86,762 contracts
  • 2023-02-15: Largest IV drop — 8.9% change
  • 2023-02-09: Highest IV Rank — 41.4%
  • 2023-02-09: Largest Expected Move — 11.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.47$15.96$20.11$20.11$16.12
Max Pain$17.08$17.00$18.50$18.50$17.00
ATM IV35.6%32.9%38.8%34.7%32.9%
Expected Move10.2%9.4%11.0%10.5%9.6%
HV 20d34.0%31.1%36.7%33.4%32.1%
HV 60d39.6%37.3%43.5%43.0%37.3%
IV Rank24.2%9.4%41.4%19.1%9.4%
IV Percentile26.2%3.6%57.9%12.7%3.6%
Term Structure-0.2%-1.2%0.7%-0.3%-0.4%
VWIV36.4%33.3%39.9%37.0%33.3%
Skew 25d2.8%1.8%4.0%2.8%2.3%
Skew 10d5.1%3.5%6.5%4.8%4.1%
Call IV 25d34.9%32.3%38.0%33.8%32.3%
Put IV 25d37.7%34.6%41.8%36.6%34.6%
Bid-Ask Spread %2.602.093.352.893.35
Gamma HHI0.120.110.140.130.11
Net GEX4.0M565.1K12.0M12.0M3.7M
Net DEX-125.1M-444.1M7.9M-444.1M-71.3M
Net VEX-2.7M-2.9M-2.6M-2.9M-2.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.440.200.920.270.43
Total Volume49,332.57924,94586,76241,72329,990
Total OI957,383.789854,4871,043,139854,4871,023,151

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$20.11$18.5034.7%10.5%33.4%19.1%37.0%2.8%-0.3%12.0M-444.1M-2.9M0.272.89N/AN/A32,7558,968542,920311,567
2023-02-02$19.32$17.0035.2%10.0%31.1%22.1%35.8%2.8%-0.9%9.7M-333.0M-2.9M0.392.16N/AN/A30,67511,857556,341316,983
2023-02-03$18.31$17.0036.5%10.6%36.7%29.1%37.5%4.0%-1.2%5.4M-184.0M-2.8M0.452.45N/AN/A59,70827,054564,012321,290
2023-02-06$18.34$17.0038.0%10.7%36.0%37.1%37.8%2.4%0.0%6.1M-205.6M-2.8M0.232.93N/AN/A33,0797,694573,237326,326
2023-02-07$18.49$17.0037.8%10.8%36.2%36.2%39.1%3.5%0.1%7.1M-231.7M-2.8M0.312.59N/AN/A18,9905,955585,163328,003
2023-02-08$18.30$17.0038.0%10.9%35.5%37.0%38.2%3.3%-0.1%6.2M-202.4M-2.8M0.502.44N/AN/A20,22910,087588,642329,854
2023-02-09$17.73$17.0038.8%11.0%36.7%41.4%39.2%3.5%-0.9%3.5M-120.7M-2.7M0.412.52N/AN/A35,12414,517596,180336,655
2023-02-10$17.95$17.0037.7%10.9%36.5%35.7%39.9%3.1%0.6%3.8M-153.0M-2.8M0.762.81N/AN/A32,43224,699608,935341,266
2023-02-13$17.91$17.0038.1%10.8%36.2%37.5%39.3%3.8%-0.0%4.1M-156.3M-2.9M0.922.71N/AN/A20,20218,612610,798344,370
2023-02-14$17.82$17.0036.3%10.4%32.6%27.8%37.8%2.9%0.6%3.4M-136.1M-2.8M0.752.60N/AN/A32,10424,149617,803358,555
2023-02-15$17.13$17.0033.0%9.5%34.9%10.4%34.2%1.9%0.7%1.7M-33.8M-2.7M0.552.79N/AN/A42,39423,500629,561370,476
2023-02-16$16.96$17.0032.9%9.4%34.1%9.8%33.8%2.2%0.5%1.4M-26.9M-2.6M0.582.13N/AN/A29,97917,413646,237375,137
2023-02-17$16.71$17.0033.8%9.6%33.9%14.4%34.1%3.0%0.4%1.4M7.9M-2.6M0.502.09N/AN/A44,02022,143659,109384,030
2023-02-21$16.61$17.0035.5%10.1%33.1%23.8%35.4%2.6%-0.6%1.6M-50.2M-2.6M0.222.42N/AN/A49,68610,838595,418326,907
2023-02-22$16.14$17.0035.5%10.1%33.3%23.5%35.6%2.5%-0.4%998.1K-6.6M-2.6M0.372.80N/AN/A59,32822,173625,193335,485
2023-02-23$16.09$17.0034.2%9.8%31.5%16.6%34.7%1.8%-0.5%1.3M-13.3M-2.7M0.202.84N/AN/A29,6166,067660,380353,015
2023-02-24$15.96$17.0034.1%9.7%31.5%16.1%34.3%2.9%-0.7%565.1K1.8M-2.6M0.312.67N/AN/A36,76511,308672,993354,837
2023-02-27$15.98$17.0033.5%9.6%31.4%12.7%34.3%2.4%-0.5%2.5M-17.2M-2.8M0.222.15N/AN/A27,2185,991663,283356,180
2023-02-28$16.12$17.0032.9%9.6%32.1%9.4%33.3%2.3%-0.4%3.7M-71.3M-2.8M0.433.35N/AN/A20,8999,091678,781344,370