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GLD

SPDR Gold SharesClose $390.78EOD only

Max Pain

$400.00

Next expiry Jun 10, 2026

Expected Move

±$5.22

1.3% from close

Price Gap

+9.22

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.60

Slightly call-heavy

Consensus

6.0/10

Bearish tilt

Published snapshot: Jun 9, 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 9, 2026 close

GLD Flow Report

Analysis based on market close June 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 VIX 20

Watch next session: GLD 2026-07-17 $345 Put; GLD 2026-08-21 $405 Call; GLD 2026-06-12 $370 Put

Flow Summary

Net premium: -$308.4M bearish

P/C volume ratio: 1.24

P/C OI ratio: 0.60

Sustained negative net premium and put-heavy flow (ratio 1.2) driving bearish bias. Price broke below $360 gamma flip, reinforcing downside trajectory.

Notable Prints

GLD 2026-08-21 $405.00 Call

Vol: 3,640

OI: 226

Vol/OI: 16.1x

IV: 25.7%

Notional: ~$4.1M

Intent: Speculative bullish

Read-through: High vol/oi suggests new long positions, but bearish flow may indicate hedging.

GLD 2026-07-17 $345.00 Put

Vol: 7,591

OI: 587

Vol/OI: 12.9x

IV: 30.3%

Notional: ~$1.3M

Intent: Bearish hedging

Read-through: Large put volume, likely protective buying or bearish bet.

GLD 2026-07-17 $330.00 Put

Vol: 5,517

OI: 615

Vol/OI: 9.0x

IV: 33.8%

Notional: ~$557K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-10 $399.00 Call

Vol: 1,133

OI: 173

Vol/OI: 6.5x

IV: 21.7%

Notional: ~$31K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-12 $394.00 Put

Vol: 1,217

OI: 216

Vol/OI: 5.6x

IV: 25.3%

Notional: ~$741K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: 405C (Aug21), 399C (Jun10), 395C/401C (Jun12) – upside call buying

Put additions: 345P, 330P (Jul17) and 370P, 394P, 391P (Jun12) – heavy put accumulation

GEX/DEX consistency: GEX -$121M (bearish gamma), DEX +99.6M shares – flow bearish, dealers net long delta

OI clusters: Put OI concentrated at 330P (615), 345P (587), 370P (741); call OI at 405C (226). Gamma flip near 360.

Hedging evidence: Put buying at 345/330/370 suggests downside hedging; 405C may be upside speculation or collar.

Max pain context: Spot below max pain; pin action expected toward gamma flip level ~360.

Signal vs Noise

~Large put volume at 345P/330P (vol/oi >12) and 405C (16.1) are real accumulation; 325P and 391P/394P small vol relative to OI are noise.

~Net premium -$308M and put/call volume ratio 1.24 confirm bearish flow.

Key Conclusions

🐻Heavy put buying across strikes signals institutional hedging for downside risk in GLD.

📉Negative GEX and bearish flow regime suggest pressure toward gamma flip at $360.

📊Call accumulation at 405C (Aug) shows some upside speculation, but dominated by put demand.

How to Use These Reports

This flow reflects the market close on June 9, 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.