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GLD

SPDR Gold SharesClose $386.54EOD only

Max Pain

$390.00

Next expiry Jun 15, 2026

Expected Move

±$6.12

1.6% from close

Price Gap

+3.46

Distance to max pain

IV Rank

High premium

P/C OI

0.58

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jun 12, 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 12, 2026 close

GLD Flow Report

Analysis based on market close June 12, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 spot 0.9% from MP; +1 VIX 18

Watch next session: $390 call; $388 call; $355 put

Flow Summary

Net premium: -$430.7M bearish

P/C volume ratio: 0.87

P/C OI ratio: 0.58

Heavy OTM call buying (e.g., $390, $388) suggests upside bets, but negative net premium from large put buying at $355 indicates hedging. Call volume ratio >1 and high open interest skew support bullish bias with caution.

Notable Prints

GLD 2026-06-17 $400.00 Call

Vol: 3,207

OI: 298

Vol/OI: 10.8x

IV: 24.5%

Notional: ~$250K

Intent: Speculative long call

Dual read: Or short call opening

Read-through: Bullish if bought

GLD 2026-06-12 $391.00 Call

Vol: 1,988

OI: 235

Vol/OI: 8.5x

IV: 10.0%

Notional: ~$2K

Intent: Closing OTM call

Read-through: Bearish

GLD 2026-06-12 $388.00 Call

Vol: 3,390

OI: 472

Vol/OI: 7.2x

IV: 5.5%

Notional: ~$7K

Intent: Closing OTM call

Read-through: Bearish

GLD 2026-06-12 $390.00 Call

Vol: 10,002

OI: 1,856

Vol/OI: 5.4x

IV: 8.0%

Notional: ~$10K

Intent: Closing large OTM call

Read-through: Bearish

GLD 2026-06-30 $355.00 Put

Vol: 1,412

OI: 303

Vol/OI: 4.7x

IV: 28.6%

Notional: ~$138K

Intent: Bearish put purchase

Dual read: Or premium sale

Read-through: Protective

Institutional Positioning

Call additions: Aggressive short-dated calls at 387-391 strikes (vol/OI >5) and June 17 $400 call (10.8x OI).

Put additions: Notable puts: June 30 $355 (4.7x OI), Jan 2027 $510 (4.6x OI), and $387 (4x OI).

GEX/DEX consistency: Yes. Negative GEX (-$95.4M) and positive DEX (+96.7M shares) consistent with dealer hedging of call buying.

OI clusters: Large put OI at ~$360 (101k contracts). Also notable at $400 call and $510 put.

Hedging evidence: Far-dated $510 put suggests tail hedge against gold upside; $360 put OI acts as floor.

Max pain context: Spot near max pain; regime indicates 'At' MP. Expect pinning near current levels.

Signal vs Noise

~0DTE call sweep at $390 (10k vol vs 1.8k OI) is signal of bullish positioning.

~Multiple small calls at 387-389 with vol/OI ~4-5 signal coordinated buying.

~Far OTM $510 put with 613 vol vs 133 OI is likely noise if hedging; the Jun 30 $355 put (4.7x OI) is signal.

Key Conclusions

📈Aggressive 0DTE call sweeps at $387-391 suggest bullish conviction; spot near MP adds to pin probability.

⚠️Far OTM $510 put and $355 put indicate downside hedging; large put OI at $360 provides support.

🔒Dealers lean long delta (positive DEX, negative GEX); gamma flip above $360 could fuel upside.

How to Use These Reports

This flow reflects the market close on June 12, 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.