GOLD Options History — February 2026

In February 2026, GOLD traded between $50.59 and $64.97. ATM implied volatility averaged 73.6%, placing in the 44.3% IV rank vs the trailing year. The 30-day expected move averaged 19.7%. IV traded below realized volatility by 12.0% (HV 20d: 85.6%). Max pain ranged from $30.00 to $50.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.55.

Notable Days

  • 2026-02-19: Highest Volume — 7,515 contracts
  • 2026-02-05: Largest IV spike — 94.5% change
  • 2026-02-02: Highest IV Rank — 100.0%
  • 2026-02-05: Largest Expected Move — 27.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$57.20$50.59$64.97$50.59$57.26
Max Pain$43.95$30.00$50.00$45.00$50.00
ATM IV73.6%58.1%172.7%89.3%64.8%
Expected Move19.7%17.0%27.6%25.6%18.6%
HV 20d85.6%71.7%96.4%72.7%79.3%
HV 60d112.8%107.6%115.7%108.1%115.6%
IV Rank44.3%26.0%100.0%100.0%30.3%
IV Percentile94.4%88.9%100.0%100.0%93.3%
Term Structure-7.8%-111.4%9.0%-19.8%-4.8%
VWIV67.4%52.7%90.0%89.2%61.9%
Skew 25d2.0%-6.4%17.2%-5.8%-0.1%
Skew 10d4.3%-16.9%98.8%-11.9%6.1%
Call IV 25d74.7%60.0%187.2%91.7%62.6%
Put IV 25d76.7%62.4%204.4%85.9%62.4%
Bid-Ask Spread %75.1050.41193.7257.0971.20
Gamma HHI0.280.180.460.200.20
Net GEX516.9K223.6K997.7K378.0K277.2K
Net DEX-43.9M-69.0M-28.8M-34.4M-31.1M
Net VEX-109.2K-128.2K-74.1K-74.1K-125.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.550.024.370.210.18
Total Volume1,916.7892957,5152,249463
Total OI18,578.15813,89323,70113,89317,128

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-02-02$50.59$45.0089.3%25.6%72.7%100.0%89.2%-5.8%-19.8%378.0K-34.4M-74.1K0.2157.09N/AN/A1,85339610,8393,054
2026-02-03$51.85$45.0084.0%24.1%72.1%92.4%85.1%-6.4%-16.2%464.8K-37.9M-77.4K0.1650.41N/AN/A5388511,5123,016
2026-02-04$51.66$45.0088.8%25.5%71.8%99.2%90.0%0.5%-20.9%460.7K-36.4M-75.8K0.2456.40N/AN/A1,01324411,4313,071
2026-02-05$51.77$30.00172.7%27.6%71.7%100.0%52.7%17.2%-111.4%383.0K-38.0M-92.6K4.37193.72N/AN/A2451,07012,0553,229
2026-02-06$55.20$30.0070.6%18.4%73.4%34.1%68.3%4.9%1.9%491.6K-44.0M-91.5K0.4272.16N/AN/A2,7201,15412,1544,262
2026-02-09$64.97$40.0072.4%18.1%89.5%35.2%63.2%1.0%2.2%576.8K-69.0M-80.4K0.4059.81N/AN/A3,9081,55212,7765,019
2026-02-10$62.76$40.0058.1%17.0%89.0%26.0%60.3%3.3%7.3%688.9K-64.2M-106.5K0.1476.45N/AN/A2,05928713,8716,481
2026-02-11$63.36$40.0063.4%18.2%88.1%29.4%60.8%3.3%9.0%728.1K-66.2M-114.8K0.2172.21N/AN/A1,91139714,8086,736
2026-02-12$57.69$40.0063.9%18.3%92.7%29.7%62.5%0.0%0.9%682.7K-51.6M-125.7K0.3176.39N/AN/A1,17936315,5486,758
2026-02-13$60.34$40.0062.2%17.8%93.2%28.6%62.2%8.2%1.7%851.2K-58.3M-128.2K0.3172.60N/AN/A55917615,5966,857
2026-02-17$58.48$40.0065.1%18.7%94.6%30.5%66.6%2.0%2.0%853.2K-51.2M-124.2K0.6380.30N/AN/A1,15872515,8226,960
2026-02-18$57.40$50.0063.7%18.3%95.4%29.6%64.6%3.9%1.1%775.4K-48.6M-126.0K0.9375.86N/AN/A18116916,1107,420
2026-02-19$58.77$50.0066.5%19.1%95.4%31.4%64.3%-3.7%-1.1%997.7K-51.6M-121.5K0.0264.20N/AN/A7,33318216,1247,577
2026-02-20$58.06$50.0065.3%18.7%95.8%30.6%63.3%7.3%-0.6%240.2K-33.4M-122.0K0.0561.61N/AN/A1,3707513,6497,591
2026-02-23$56.83$50.0063.3%18.2%96.4%29.4%65.7%3.9%1.0%244.6K-31.3M-120.2K0.3471.11N/AN/A86829510,5845,454
2026-02-24$57.17$50.0062.3%17.9%96.4%28.7%68.0%-1.3%-0.1%247.5K-29.8M-123.3K0.4470.64N/AN/A36816310,5935,600
2026-02-25$56.15$50.0060.3%17.3%80.5%27.4%64.6%1.6%0.8%223.6K-28.8M-120.6K0.2172.73N/AN/A88218310,6845,686
2026-02-26$56.41$50.0061.8%17.7%79.3%28.4%67.7%-1.5%-1.2%256.2K-29.1M-124.7K0.9072.01N/AN/A15514011,0865,844
2026-02-27$57.26$50.0064.8%18.6%79.3%30.3%61.9%-0.1%-4.8%277.2K-31.1M-125.8K0.1871.20N/AN/A3937011,1855,943