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GLD

SPDR Gold SharesClose $397.63EOD only

Max Pain

$395.00

Next expiry Jun 17, 2026

Expected Move

±$4.59

1.2% from close

Price Gap

-2.63

Distance to max pain

IV Rank

High premium

P/C OI

0.57

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: Jun 16, 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 16, 2026 close

GLD Flow Report

Analysis based on market close June 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.6% from MP; +0.5 VIX 18

Flow Summary

Net premium: -$814.0M bearish

P/C volume ratio: 1.19

P/C OI ratio: 0.57

Gold sees heavy put volume amid broad market weakness, though call OI remains large. Negative GEX suggests dealer short gamma amplifying downside. Key level to watch is gamma flip at $360.

Notable Prints

GLD 2026-06-17 $386.00 Put

Vol: 5,937

OI: 214

Vol/OI: 27.7x

IV: 10.1%

Notional: ~$6K

Intent: Closing short puts near expiry

Dual read: Speculative long put, but tiny premium

Read-through: Bearish bias, low confidence

GLD 2026-06-24 $375.00 Put

Vol: 2,140

OI: 113

Vol/OI: 18.9x

IV: 26.1%

Notional: ~$340K

Intent: Bearish positioning for next week

Dual read: Rolling from front week

Read-through: Expect further downside

GLD 2026-06-26 $401.00 Call

Vol: 2,146

OI: 137

Vol/OI: 15.7x

IV: 26.5%

Notional: ~$431K

Intent: Bullish speculation or short covering

Dual read: Opening for a bounce

Read-through: Mixed signals with put activity

GLD 2026-06-17 $391.00 Put

Vol: 2,574

OI: 167

Vol/OI: 15.4x

IV: 0.0%

Notional: ~$412K

Intent: Closing positions on expiration day

Dual read: Pin action play

Read-through: Volatility near expiry

GLD 2026-06-17 $405.00 Call

Vol: 6,679

OI: 516

Vol/OI: 12.9x

IV: 30.5%

Notional: ~$20K

Intent: Closing short calls

Dual read: Speculative lotto

Read-through: Low probability of profit

Institutional Positioning

Call additions: OTM call buying at 401-409 strikes with high vol/OI ratios (e.g., 405C 6679 vol vs 516 OI).

Put additions: Heavy put volume at 386, 391, 392 strikes; deep ITM put at 435C (1408 vol, OI 182) for hedging.

GEX/DEX consistency: Partially aligned: negative GEX (-$81M) implies hedging, positive DEX (+108M shares) suggests bullish delta.

OI clusters: Put OI concentration 100,972 near 360 (7.4% below spot); no specific call OI clusters noted.

Hedging evidence: Possible collars via OTM calls (405-409) and deep ITM puts (435); high put volume at 386-392 for downside protection.

Max pain context: Spot below max pain; MP likely above current levels, pinning expected near higher strikes.

Signal vs Noise

~High vol/OI on 405C and 409C signals directional call buying (signal).

~386P with 5937 vol but 0 IV likely noise (late/misprinted).

~Mixed flow: net premium negative but put/call OI ratio <1 indicates noise in single-day flow.

Key Conclusions

📈Bullish call buying at 401-409 with high volume signals upside bets.

🛡️Deep ITM put at 435 and heavy put volume suggest hedging downside.

⚠️Negative GEX (-$81M) may amplify moves; spot below MP adds pin pressure.

How to Use These Reports

This flow reflects the market close on June 17, 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.