GOLD Options History — December 2023

In December 2023, GOLD traded between $16.29 and $18.45. ATM implied volatility averaged 28.2%, placing in the 31.2% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 5.4% (HV 20d: 33.6%). Max pain ranged from $16.00 to $17.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.40.

Notable Days

  • 2023-12-01: Highest Volume — 70,582 contracts
  • 2023-12-04: Largest IV spike — 4.7% change
  • 2023-12-26: Highest IV Rank — 39.6%
  • 2023-12-26: Largest Expected Move — 8.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.61$16.29$18.45$17.73$18.02
Max Pain$16.95$16.00$17.00$16.00$17.00
ATM IV28.2%27.3%29.5%27.4%28.0%
Expected Move8.1%7.9%8.4%8.3%7.9%
HV 20d33.6%27.5%36.2%34.8%31.9%
HV 60d30.7%29.2%32.7%29.2%30.6%
IV Rank31.2%25.2%39.6%25.9%29.8%
IV Percentile22.3%13.1%38.1%13.9%20.2%
Term Structure0.4%-0.6%1.1%-0.2%0.7%
VWIV29.3%28.0%31.0%29.0%28.8%
Skew 25d-0.9%-1.6%-0.4%-1.5%-0.8%
Skew 10d-1.9%-3.7%1.6%-2.5%-2.6%
Call IV 25d29.4%28.4%30.5%29.3%28.7%
Put IV 25d28.5%27.7%29.8%27.8%28.0%
Bid-Ask Spread %8.491.8321.2218.6715.31
Gamma HHI0.190.150.220.190.21
Net GEX18.1M8.7M23.0M18.9M16.3M
Net DEX-401.5M-538.6M-152.7M-470.9M-434.6M
Net VEX-2.8M-2.9M-2.6M-2.9M-2.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.400.152.110.250.31
Total Volume39,931.8523,57770,58270,58233,352
Total OI1,218,504.751,155,2101,270,0071,237,8691,181,843

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-12-01$17.73$16.0027.4%8.3%34.8%25.9%29.0%-1.5%-0.2%18.9M-470.9M-2.9M0.2518.67N/AN/A56,49114,091871,238366,631
2023-12-04$17.51$17.0028.7%8.2%34.3%34.4%29.8%-1.0%0.3%18.3M-397.9M-2.9M0.151.83N/AN/A36,7215,591865,817363,488
2023-12-05$17.49$17.0028.1%8.1%34.1%30.8%29.7%-0.4%1.1%18.7M-397.9M-2.9M0.238.47N/AN/A20,6744,753874,670365,059
2023-12-06$17.37$17.0028.2%8.0%31.4%31.2%29.0%-1.3%0.4%18.0M-368.0M-2.8M0.367.46N/AN/A20,3577,420879,401365,170
2023-12-07$17.23$17.0027.5%7.9%27.5%26.8%30.0%-1.5%0.6%17.0M-342.5M-2.8M0.4113.83N/AN/A19,2147,828889,450367,009
2023-12-08$16.79$17.0027.5%7.9%29.7%26.9%28.0%-0.8%0.8%12.9M-247.1M-2.7M0.432.17N/AN/A39,54716,947898,782370,470
2023-12-11$16.64$17.0027.9%7.9%29.7%29.3%28.8%-0.9%-0.6%11.7M-221.0M-2.7M0.2417.99N/AN/A20,6355,005885,502366,778
2023-12-12$16.29$17.0027.3%7.9%31.0%25.2%28.8%-0.7%0.0%8.7M-152.7M-2.6M0.241.97N/AN/A23,8645,657893,394367,230
2023-12-13$17.38$17.0027.8%8.0%36.0%28.7%29.2%-0.8%-0.0%18.9M-382.4M-2.7M0.218.70N/AN/A42,4588,939899,098369,207
2023-12-14$17.66$17.0028.0%8.0%35.8%30.0%28.9%-0.7%0.3%21.9M-451.3M-2.8M0.292.27N/AN/A54,06215,614899,016369,772
2023-12-15$17.55$17.0028.1%8.0%35.9%30.7%29.4%-1.2%-0.2%18.7M-410.3M-2.7M0.428.46N/AN/A25,39310,673898,185371,822
2023-12-18$17.66$17.0027.8%7.9%35.5%28.9%28.7%-0.7%0.3%18.0M-386.0M-2.7M0.356.97N/AN/A31,86211,192832,734322,476
2023-12-19$18.07$17.0028.5%8.2%36.1%33.4%29.4%-0.7%0.3%22.4M-491.8M-2.8M0.3021.22N/AN/A36,70111,075845,705326,756
2023-12-20$17.81$17.0028.7%8.2%36.1%34.4%28.9%-0.6%0.6%20.5M-427.6M-2.9M0.673.67N/AN/A21,88214,680851,805328,376
2023-12-21$17.98$17.0029.0%8.3%36.1%36.6%30.3%-0.6%0.6%23.0M-461.3M-2.9M0.222.63N/AN/A19,4314,334859,652330,054
2023-12-22$18.23$17.0028.6%8.2%36.2%33.7%29.8%-1.6%0.3%20.0M-538.6M-2.8M0.313.03N/AN/A41,24612,984860,469328,652
2023-12-26$18.16$17.0029.5%8.4%35.7%39.6%31.0%-0.6%0.2%18.9M-466.2M-2.7M2.117.05N/AN/A10,48622,151836,235325,113
2023-12-27$18.45$17.0028.7%8.2%31.3%34.7%29.8%-1.0%0.8%21.7M-526.6M-2.7M0.246.91N/AN/A33,7697,981839,096328,635
2023-12-28$18.12$17.0028.4%8.1%32.0%32.8%29.1%-0.7%0.8%17.8M-455.5M-2.7M0.1911.13N/AN/A19,8153,762840,589334,716
2023-12-29$18.02$17.0028.0%7.9%31.9%29.8%28.8%-0.8%0.7%16.3M-434.6M-2.7M0.3115.31N/AN/A25,5247,828845,671336,172