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GLD

SPDR Gold SharesClose $387.12EOD only

Max Pain

$388.00

Next expiry Jun 22, 2026

Expected Move

±$6.29

1.6% from close

Price Gap

+0.88

Distance to max pain

IV Rank

100

High premium

P/C OI

0.56

Slightly call-heavy

Consensus

5.0/10

Consensus signal

Published snapshot: Jun 18, 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 18, 2026 close

GLD Flow Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.9% from MP; +1 VIX 16

Watch next session: Gamma flip level 360; Unusual print activity at high strikes

Flow Summary

Net premium: -$308.1M bearish

P/C volume ratio: 1.15

P/C OI ratio: 0.56

Dominant bearish bias due to strong negative gamma (-$99M) and net premium selling (-$308M). Put/call volume ratio 1.15 confirms bearish flow. Unusual prints show both put and call speculation. VIX at 16 supports trending gamma. Invalidation if spot rallies above 360.

Notable Prints

GLD 2026-06-24 $409.00 Call

Vol: 3,435

OI: 108

Vol/OI: 31.8x

IV: 23.0%

Notional: ~$58K

Intent: Bullish bet on GLD rally above $409.

Dual read: Could be long volatility play.

Read-through: Expects breakout.

GLD 2026-06-18 $392.00 Call

Vol: 2,298

OI: 184

Vol/OI: 12.5x

IV: 10.7%

Notional: ~$2K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-22 $375.00 Put

Vol: 2,441

OI: 270

Vol/OI: 9.0x

IV: 23.0%

Notional: ~$146K

Intent: Bearish hedge or speculation.

Dual read: Possible part of put spread.

Read-through: Anticipates short-term weakness.

GLD 2026-06-24 $405.00 Call

Vol: 1,235

OI: 149

Vol/OI: 8.3x

IV: 21.3%

Notional: ~$36K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-18 $387.00 Put

Vol: 3,773

OI: 559

Vol/OI: 6.8x

IV: 5.7%

Notional: ~$94K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Call additions at 392, 405, 409, 410; OI building. Leap call at 510.

Put additions: Put additions at 375, 386, 387, 350; 387 put vol 3773 highlights hedging.

GEX/DEX consistency: GEX negative (-$99M) short gamma; DEX positive (+100M) long delta. Mixed flow, net premium negative. Inconsistent with trending regime.

OI clusters: Largest OI: 387 put (559), 392 call (184), 375 put (270). Gamma flip at 360 from put OI.

Hedging evidence: Collar activity: 387 put/392 call; leap 510 put for tail risk.

Max pain context: Spot above MP (~360); pin toward 387 area.

Signal vs Noise

~Signal: high vol/OI prints (e.g., GLD 2026-06-24 $409 C vol/OI 31.8) indicate informed flow.

~Noise: small prints with high IV and low OI (e.g., $350 put) may be speculative.

Key Conclusions

🐻Heavy put buying at 387 signals institutional hedging; bearish near-term bias.

🐂Call accumulation at 409/410 with high vol/OI suggests bullish bets on gold rally.

⚠️Negative GEX and mixed flow imply increased volatility potential.

How to Use These Reports

This flow reflects the market close on June 18, 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.