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GLD

SPDR Gold SharesClose $377.16EOD only

Max Pain

$370.00

Next expiry Jul 31, 2026

Expected Move

±$3.86

1.0% from close

Price Gap

-7.16

Distance to max pain

IV Rank

Low premium

P/C OI

0.47

Slightly call-heavy

Consensus

4.5/10

Consensus signal

Published snapshot: Jul 30, 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

Jul 30, 2026 close

GLD Flow Report

Analysis based on market close June 15, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 15, 2026. A newer flow report is available for June 29, 2026.

View latest report

Flow Verdict

Confidence:

6 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 VIX 16

Watch next session: Monitor call volume at $398-$400 strikes; Watch $397 put activity for hedging unwinds

Flow Summary

Net premium: -$284.5M bearish

P/C volume ratio: 0.68

P/C OI ratio: 0.57

Bullish flow with call dominance (0.68 put/call volume ratio) and positive GEX, but negative net premium reflects expensive puts. Unusual prints show large put at $397 (37.5x OI) likely a hedge or speculative bet, while calls at $399-402 suggest upside positioning. With VIX at 16 and equity indices up, SPY/QQQ likely to maintain positive gamma pinning near current levels.

Notable Prints

GLD 2026-06-15 $397.00 Put

Vol: 4,721

OI: 126

Vol/OI: 37.5x

IV: 29.0%

Notional: ~$415K

Intent: Bearish hedging or speculation

Dual read: Could be closing short puts

Read-through: Heightened downside interest below current price

GLD 2026-06-15 $399.00 Call

Vol: 5,795

OI: 233

Vol/OI: 24.9x

IV: 5.9%

Notional: ~$6K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-15 $401.00 Call

Vol: 3,582

OI: 299

Vol/OI: 12.0x

IV: 9.8%

Notional: ~$4K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-15 $395.00 Put

Vol: 1,971

OI: 171

Vol/OI: 11.5x

IV: 6.2%

Notional: ~$2K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-15 $400.00 Put

Vol: 1,272

OI: 156

Vol/OI: 8.2x

IV: 34.9%

Notional: ~$538K

Intent: ATM put buying for protection

Dual read: Potential pinning at 400

Read-through: Uncertainty around $400 level

Institutional Positioning

Call additions: Calls at 399-402 (vol/OI 6-25x) but high vol on 399C may be noise; weekly 398/400/407

Put additions: Puts at 395/397/400 (vol/OI 8-37x); heavy OI at ~360 (9.2% below spot)

GEX/DEX consistency: GEX +54.5M, DEX +95.8M – positive gamma; pinning likely; retail OTM calls add noise

OI clusters: Largest put OI at 360 (100k); call OI less concentrated

Hedging evidence: Put buying 395-400 suggests hedging; low IV OTM calls likely retail noise

Max pain context: Spot above MP; gamma flip at 360, pinning near current levels

Signal vs Noise

~High vol/OI on $399C with 5.9% IV likely noise (OTM spreads)

~Sustained put accumulation at 395-397 is real hedging signal

~Low IV on OTM calls suggests retail flow, not institutional

Key Conclusions

🟡Positive gamma and spot above MP suggest pinning; but retail noise in calls tempers confidence

🐻Put accumulation at 395-397 signals downside hedging, bearish leaning

🐂Call additions at 399-402 reflect bullish positioning, but retail flow may distort

How to Use These Reports

This flow reflects the market close on June 15, 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.