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GLD

SPDR Gold SharesClose $396.55EOD only

Max Pain

$388.00

Next expiry Jun 17, 2026

Expected Move

±$6.54

1.6% from close

Price Gap

-8.55

Distance to max pain

IV Rank

High premium

P/C OI

0.57

Slightly call-heavy

Consensus

4.0/10

Range bias

Published snapshot: Jun 15, 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 15, 2026 close

GLD Flow Report

Analysis based on market close June 16, 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 0.7% from MP; +1 VIX 16

Watch next session: GLD 2026-06-17 $398 Call; GLD 2026-06-17 $395 Put; Spot vs $360 gamma flip

Flow Summary

Net premium: -$348.1M bearish

P/C volume ratio: 0.82

P/C OI ratio: 0.57

Gamma pinning and large call unusual prints outweigh net premium outflow, supporting bullish bias. Confidence 7/10.

Notable Prints

GLD 2026-06-26 $398.00 Call

Vol: 5,052

OI: 272

Vol/OI: 18.6x

IV: 22.4%

Notional: ~$3.1M

Intent: Bullish bet on GLD

Dual read: Or short covering

Read-through: Expects rally

GLD 2026-06-26 $397.00 Call

Vol: 4,125

OI: 352

Vol/OI: 11.7x

IV: 22.6%

Notional: ~$2.8M

Intent: Bullish spread or buy

Read-through: Similar bullish

GLD 2026-06-22 $390.00 Put

Vol: 1,069

OI: 152

Vol/OI: 7.0x

IV: 20.2%

Notional: ~$159K

Intent: Protective put buy

Read-through: Hedging downside

GLD 2026-06-17 $403.00 Call

Vol: 799

OI: 118

Vol/OI: 6.8x

IV: 21.3%

Notional: ~$48K

Intent: Speculative OTM call

Read-through: High risk bet

GLD 2026-07-02 $440.00 Call

Vol: 3,120

OI: 472

Vol/OI: 6.6x

IV: 27.9%

Notional: ~$128K

Intent: Long volatility play

Read-through: Lotto-style

Institutional Positioning

Call additions: 398/397 (6/26) and 399/398 (6/17) heavy call vol; net call adds dominate.

Put additions: Scattered puts at 390 (6/22), 395 (6/17), 397 (6/18); small vs calls.

GEX/DEX consistency: Yes: positive GEX ($+28M) and DEX (+96.8M shares) align with call positioning.

OI clusters: Largest OI: 398 call (6/17) 468; 397 call (6/26) 352; 395 put (6/17) 346. Gamma flip ~360 (9.5% below spot).

Hedging evidence: Minimal hedging; occasional puts likely profit-taking or small protection.

Max pain context: Spot near max pain; pinning likely given gamma regime.

Signal vs Noise

~Signal: Heavy call accumulation at 398/397 (6/26) and 399/398 (6/17) with high vol/OI ratios.

~Noise: 440 call (7/2) and 510 put (1/27) are far OTM/low delta, likely speculative or hedges.

~Signal: Positive GEX/DEX and 'Pinning' regime suggest institutional support above spot.

Key Conclusions

📈Call additions at 398/397 (6/26) and 399/398 (6/17) signal bullish bias; net premium negative but volume driven.

⚠️Mixed flow and net $348M negative premium caution; spot near max pain may pin near current levels.

How to Use These Reports

This flow reflects the market close on June 16, 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.