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GLD

SPDR Gold SharesClose $411.27EOD only

Max Pain

$410.00

Next expiry Jun 5, 2026

Expected Move

±$3.89

0.9% from close

Price Gap

-1.27

Distance to max pain

IV Rank

Low premium

P/C OI

0.55

Slightly call-heavy

Consensus

5.0/10

Range bias

Published snapshot: Jun 4, 2026 close

End-of-day snapshot

This page reflects GLD options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 4, 2026 close

GLD Flow Report

Analysis based on market close June 4, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Flow Verdict

Confidence:

7 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.3% from MP; +1 VIX 15

Watch next session: 360 gamma flip; 410 call strike; 435 weekly call

Flow Summary

Net premium: -$263.9M bearish

P/C volume ratio: 0.93

P/C OI ratio: 0.55

Net premium negative $264M indicates bearish flow. Put/call volume ratio 0.93 is slightly bullish, but large put OI below spot and put buying at 455-530 warn of potential decline. GEX positive $126.5M pins spot near max pain.

Notable Prints

GLD 2026-06-12 $410.00 Call

Vol: 4,167

OI: 182

Vol/OI: 22.9x

IV: 20.0%

Notional: ~$2.3M

Intent: Call buying

Read-through: Bull

GLD 2026-06-18 $455.00 Put

Vol: 1,410

OI: 133

Vol/OI: 10.6x

IV: 31.0%

Notional: ~$6.2M

Intent: Put buying

Read-through: Bear

GLD 2026-07-17 $495.00 Put

Vol: 950

OI: 100

Vol/OI: 9.5x

IV: 37.9%

Notional: ~$8.0M

Intent: Put buying

Read-through: Bear

GLD 2026-06-18 $480.00 Put

Vol: 3,481

OI: 454

Vol/OI: 7.7x

IV: 43.4%

Notional: ~$23.9M

Intent: Put buying

Read-through: Bear

GLD 2026-07-17 $520.00 Put

Vol: 3,751

OI: 500

Vol/OI: 7.5x

IV: 45.3%

Notional: ~$41.1M

Intent: Put buying

Read-through: Bear

Institutional Positioning

Call additions: Short-term calls at $410-411 and Dec $435 call show bullish positioning.

Put additions: Heavy put buying across $455-$530 strikes for June/July, defensive or bearish.

GEX/DEX consistency: GEX positive implies pinning; DEX long but flow mixed with put buying.

OI clusters: Put OI concentrated at $360 (gamma flip) and near spot; call OI at $410-411.

Hedging evidence: Put buying likely hedging against gold weakness or tail risk.

Max pain context: Spot at MP, pinning expected near current levels.

Signal vs Noise

~Heavy put volume (e.g., $455P, $480P) is real hedging, not noise.

~Call buying at $410-411 signals short-term bullish conviction, not noise.

~Mixed flow (puts vs calls) creates noise; regime confirms 'Mixed'.

Key Conclusions

🟢Significant call buying at $410-411 suggests institutional bullish bet on near-term gold rebound.

🔴Heavy put accumulation (10+ strikes) points to hedging or bearish outlook below $450.

🟡Positive GEX and max-pin suggest price may stay range-bound near spot for now.

How to Use These Reports

This flow reflects the market close on June 4, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.