GOLD Options History — March 2026

In March 2026, GOLD traded between $37.98 and $56.45. ATM implied volatility averaged 63.9%, placing in the 29.7% IV rank vs the trailing year. The 30-day expected move averaged 18.1%. IV traded above realized volatility by 12.6% (HV 20d: 51.3%). Max pain ranged from $45.00 to $55.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 0.38.

Notable Days

  • 2026-03-09: Highest Volume — 3,834 contracts
  • 2026-03-26: Largest IV spike — 16.0% change
  • 2026-03-03: Highest IV Rank — 33.6%
  • 2026-03-03: Largest Expected Move — 20.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$47.16$37.98$56.45$56.45$39.92
Max Pain$47.05$45.00$55.00$50.00$45.00
ATM IV63.9%57.6%69.9%66.1%60.4%
Expected Move18.1%15.9%20.0%19.0%17.3%
HV 20d51.3%30.7%80.1%78.9%53.0%
HV 60d66.7%63.1%71.7%63.4%71.7%
IV Rank29.7%25.7%33.6%31.2%27.5%
IV Percentile88.9%81.0%95.6%94.0%81.7%
Term Structure3.9%-7.5%12.5%-7.5%5.7%
VWIV63.3%57.6%72.0%66.0%58.5%
Skew 25d3.5%-3.0%10.2%2.4%6.5%
Skew 10d1.9%-18.2%18.9%8.2%12.2%
Call IV 25d62.2%57.4%71.6%63.9%57.4%
Put IV 25d65.7%57.3%74.6%66.3%63.9%
Bid-Ask Spread %46.2722.5476.2169.2733.59
Gamma HHI0.210.170.360.190.20
Net GEX269.6K24.4K1.5M293.3K208.2K
Net DEX-26.8M-228.4M-3.5M-30.2M-3.9M
Net VEX-129.2K-820.1K-61.8K-124.8K-61.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.031.820.300.11
Total Volume820.51953,834914252
Total OI19,215.18210,42486,14817,39411,229

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-03-02$56.45$50.0066.1%19.0%78.9%31.2%66.0%2.4%-7.5%293.3K-30.2M-124.8K0.3069.27N/AN/A70421011,4135,981
2026-03-03$56.22$50.0069.9%20.0%78.2%33.6%72.0%3.0%-5.8%262.6K-27.9M-123.6K0.4967.18N/AN/A37918511,6246,154
2026-03-04$56.44$50.0064.3%18.4%77.9%30.0%66.8%3.2%4.8%312.0K-30.2M-125.5K0.2376.21N/AN/A1693911,7136,275
2026-03-05$54.31$55.0068.4%18.5%79.3%32.7%63.0%3.0%1.2%166.8K-25.0M-120.8K0.0764.55N/AN/A4053011,6996,272
2026-03-06$52.77$55.0066.9%18.3%80.1%31.7%63.1%3.6%2.5%132.9K-22.2M-118.8K0.0356.35N/AN/A1,2853411,9326,287
2026-03-09$50.30$55.0059.7%19.5%78.2%27.0%67.3%3.0%3.2%24.4K-15.5M-112.3K1.1370.14N/AN/A1,8012,03312,0976,287
2026-03-10$50.89$45.0063.9%19.5%47.7%29.7%62.8%3.6%1.5%271.1K-21.5M-104.7K0.1664.54N/AN/A94615312,1424,756
2026-03-11$50.38$45.0062.6%17.9%47.0%28.9%63.0%3.0%5.3%238.7K-19.4M-102.1K0.6271.34N/AN/A17310812,3354,642
2026-03-12$49.27$45.0062.9%17.2%46.5%29.1%62.6%2.5%3.7%201.4K-17.4M-98.8K0.4334.80N/AN/A1386012,3424,687
2026-03-13$47.41$45.0066.1%19.4%36.9%31.2%64.3%3.6%7.3%181.9K-14.4M-93.8K0.6726.61N/AN/A18812612,4524,655
2026-03-16$46.86$45.0068.7%19.3%30.7%32.8%58.9%10.2%0.8%161.9K-13.7M-90.5K0.2239.08N/AN/A2665812,5084,688
2026-03-17$47.51$45.0062.4%18.4%31.2%28.8%63.3%6.8%5.8%160.6K-13.3M-90.1K1.8235.88N/AN/A25346112,6024,718
2026-03-18$45.80$45.0065.6%16.1%32.5%30.8%65.3%2.2%12.5%197.7K-11.1M-87.1K0.2151.07N/AN/A3798112,6474,668
2026-03-19$44.02$45.0064.0%17.7%31.2%29.8%63.1%3.0%6.9%218.3K-7.5M-80.1K0.2837.97N/AN/A84423812,7464,688
2026-03-20$41.81$45.0062.6%17.5%33.8%28.9%64.3%2.4%6.9%1.5M-228.4M-820.1K0.4634.75N/AN/A1,39563680,7755,373
2026-03-23$43.78$45.0061.3%17.1%40.3%28.1%60.3%5.8%6.9%231.9K-8.3M-77.0K0.1223.75N/AN/A1,1641358,2002,224
2026-03-24$44.12$45.0061.4%17.3%40.5%28.1%60.8%3.6%8.9%245.5K-8.5M-78.8K0.0822.54N/AN/A291228,3872,307
2026-03-25$43.14$45.0057.6%15.9%40.6%25.7%57.6%-3.0%10.6%240.0K-8.0M-75.5K0.2237.59N/AN/A160358,4492,310
2026-03-26$39.34$45.0066.8%19.2%48.7%31.6%64.8%3.9%-4.6%187.8K-4.1M-64.9K0.2532.67N/AN/A5161308,5222,328
2026-03-27$38.87$45.0059.8%17.1%47.2%27.1%59.6%0.6%8.2%179.1K-3.5M-62.9K0.3534.04N/AN/A196688,7792,374
2026-03-30$37.98$45.0064.0%18.3%47.1%29.8%64.0%3.2%2.0%306.7K-54.8M-129.3K0.1033.94N/AN/A1,18412123,7412,726
2026-03-31$39.92$45.0060.4%17.3%53.0%27.5%58.5%6.5%5.7%208.2K-3.9M-61.8K0.1133.59N/AN/A228248,7902,439