GOLD Options History — March 2023

In March 2023, GOLD traded between $15.52 and $18.71. ATM implied volatility averaged 35.0%, placing in the 21.2% IV rank vs the trailing year. The 30-day expected move averaged 10.0%. IV traded above realized volatility by 1.2% (HV 20d: 33.8%). Max pain ranged from $16.00 to $17.00. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 9 of 23 days. Put/call ratio averaged 0.39.

Notable Days

  • 2023-03-17: Highest Volume — 171,797 contracts
  • 2023-03-17: Largest IV spike — 10.8% change
  • 2023-03-23: Highest IV Rank — 38.6%
  • 2023-03-23: Largest Expected Move — 11.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.35$15.52$18.71$16.37$18.52
Max Pain$16.48$16.00$17.00$17.00$17.00
ATM IV35.0%31.7%38.3%33.1%34.4%
Expected Move10.0%8.8%11.0%9.5%9.4%
HV 20d33.8%23.1%39.5%32.8%38.3%
HV 60d36.7%33.7%38.5%36.5%33.7%
IV Rank21.2%3.0%38.6%10.4%17.8%
IV Percentile25.7%1.2%59.9%4.8%12.7%
Term Structure0.3%-0.7%2.5%-0.7%2.1%
VWIV36.1%31.4%41.1%33.6%34.1%
Skew 25d0.8%-1.7%3.3%1.1%-0.4%
Skew 10d1.0%-3.8%5.3%1.0%-1.1%
Call IV 25d35.7%31.0%40.4%33.0%34.7%
Put IV 25d36.4%33.3%39.4%34.1%34.3%
Bid-Ask Spread %4.252.1811.132.773.22
Gamma HHI0.120.090.260.120.19
Net GEX9.0M-1.7M26.2M4.2M22.8M
Net DEX-254.8M-461.4M34.2M-96.9M-435.8M
Net VEX-3.5M-4.1M-2.7M-2.8M-4.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.390.131.120.290.19
Total Volume66,181.73929,595171,79730,92241,766
Total OI1,122,885.8261,029,6071,250,6471,029,6071,199,247

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$16.37$17.0033.1%9.5%32.8%10.4%33.6%1.1%-0.7%4.2M-96.9M-2.8M0.292.77N/AN/A23,9896,933681,236348,371
2023-03-02$16.34$17.0032.4%9.3%30.1%6.6%33.1%2.1%-0.1%4.4M-100.8M-2.9M0.502.76N/AN/A19,9699,968688,696350,496
2023-03-03$16.49$17.0031.7%8.8%28.7%3.0%31.4%2.3%-0.3%6.3M-116.9M-2.8M0.782.18N/AN/A35,28427,553693,037356,231
2023-03-06$16.30$16.0031.8%9.3%23.1%3.4%32.3%3.3%0.0%2.3M-69.4M-2.8M0.242.55N/AN/A24,1965,710680,540369,003
2023-03-07$15.79$16.0032.2%9.3%24.7%5.8%32.6%2.6%-0.1%-445.4K2.3M-2.7M0.353.21N/AN/A50,34917,737692,381371,803
2023-03-08$15.64$16.0032.7%9.2%24.0%8.6%34.6%2.5%-0.4%-1.5M14.0M-2.8M0.632.80N/AN/A24,35415,287717,946382,196
2023-03-09$15.52$16.0033.9%9.6%24.0%14.9%39.5%2.3%-0.4%-1.7M34.2M-2.8M1.124.23N/AN/A14,44916,135723,113389,269
2023-03-10$15.89$16.0035.7%10.2%24.8%24.7%35.7%2.0%-0.4%13.9K-25.1M-2.9M0.343.12N/AN/A37,02612,568726,836397,854
2023-03-13$17.09$16.0038.0%10.7%36.9%37.1%37.8%0.9%-0.4%7.2M-232.2M-3.3M0.2411.13N/AN/A91,33122,112715,103385,882
2023-03-14$17.05$16.0035.1%10.1%36.9%21.6%36.8%1.6%-0.1%7.3M-215.8M-3.2M0.4810.20N/AN/A26,64912,700735,303396,890
2023-03-15$17.44$16.0036.6%10.4%38.0%29.4%37.5%0.4%-0.4%10.2M-295.8M-3.3M0.4710.51N/AN/A65,25230,693739,228398,142
2023-03-16$17.37$16.0034.5%9.8%35.2%18.3%34.6%2.6%-0.5%9.3M-275.4M-3.3M0.933.59N/AN/A65,16560,683751,814410,084
2023-03-17$18.18$16.0038.3%10.9%38.3%38.5%38.9%-0.5%-0.3%9.7M-447.9M-3.8M0.233.64N/AN/A139,27932,518783,962466,685
2023-03-20$18.23$16.0037.6%10.7%37.7%34.9%41.1%-1.3%1.2%8.9M-355.8M-3.8M0.133.26N/AN/A100,10212,918651,150385,436
2023-03-21$17.70$16.0035.5%10.1%39.5%23.6%36.5%0.3%0.9%8.7M-280.0M-3.8M0.283.09N/AN/A71,44919,916702,016393,528
2023-03-22$18.04$17.0035.3%10.1%38.0%22.3%36.1%-0.4%-0.0%11.5M-352.4M-4.0M0.254.06N/AN/A56,99714,214727,046404,527
2023-03-23$18.30$17.0038.3%11.0%37.9%38.6%39.7%-1.1%-0.3%12.8M-410.7M-4.0M0.174.48N/AN/A75,16513,056742,424411,878
2023-03-24$18.48$17.0038.0%10.9%37.5%37.3%39.2%-1.7%0.5%26.2M-449.8M-4.1M0.223.91N/AN/A66,05114,774761,941417,834
2023-03-27$18.44$17.0036.0%10.2%37.6%26.6%37.8%-0.3%1.6%12.7M-411.7M-4.1M0.293.68N/AN/A34,2429,803740,969408,789
2023-03-28$18.71$17.0035.9%10.1%37.7%26.1%37.0%-0.3%1.4%14.0M-461.4M-4.1M0.252.95N/AN/A34,6618,759748,002413,802
2023-03-29$18.48$17.0034.4%9.7%38.2%18.0%34.7%-0.3%2.5%14.8M-425.5M-4.0M0.212.88N/AN/A24,5515,044764,198413,241
2023-03-30$18.61$17.0034.9%9.7%38.1%20.3%35.2%-0.1%1.6%18.0M-452.3M-4.1M0.403.56N/AN/A22,0118,812774,290413,955
2023-03-31$18.52$17.0034.4%9.4%38.3%17.8%34.1%-0.4%2.1%22.8M-435.8M-4.0M0.193.22N/AN/A35,1286,638781,969417,278