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GLD

SPDR Gold SharesClose $384.59EOD only

Max Pain

$390.00

Next expiry Jun 24, 2026

Expected Move

±$4.96

1.3% from close

Price Gap

+5.41

Distance to max pain

IV Rank

Low premium

P/C OI

0.58

Slightly call-heavy

Consensus

8.5/10

Bearish tilt

Published snapshot: Jun 22, 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 22, 2026 close

GLD Flow Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 VIX 19

Watch next session: Put flow on 6/24 $355-360 strikes; VIX staying above 19

Flow Summary

Net premium: -$286.6M bearish

P/C volume ratio: 1.39

P/C OI ratio: 0.58

Heavy put activity and negative net premium drive bearish flow. Regime and GEX support downside. Key resistance at $383 calls; support at $360 gamma flip.

Notable Prints

GLD 2026-06-24 $386.00 Call

Vol: 1,786

OI: 191

Vol/OI: 9.3x

IV: 20.2%

Notional: ~$20K

Intent: Near-term bullish speculation

Dual read: May be covering

Read-through: High volume, low premium

GLD 2026-10-16 $350.00 Put

Vol: 5,226

OI: 720

Vol/OI: 7.3x

IV: 23.6%

Notional: ~$4.3M

Intent: Long-term bearish hedge

Dual read: Institutional hedge

Read-through: High IV indicates fear

GLD 2026-07-24 $405.00 Call

Vol: 1,789

OI: 406

Vol/OI: 4.4x

IV: 23.5%

Notional: ~$381K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-24 $385.00 Call

Vol: 1,141

OI: 258

Vol/OI: 4.4x

IV: 18.4%

Notional: ~$15K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-26 $367.00 Put

Vol: 619

OI: 140

Vol/OI: 4.4x

IV: 26.8%

Notional: ~$56K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Modest call buying at 385-405 strikes; OI clusters at 385-405

Put additions: Heavy put accumulation at 350-370, especially 350 strikes

GEX/DEX consistency: GEX negative aligns with bearish flow; DEX positive suggests dealer delta hedging

OI clusters: Max put OI at 360 (gamma flip); call OI clusters at 385-405

Hedging evidence: Downside puts as hedges; dealer delta hedging via DEX positive

Max pain context: Spot below max pain; gamma flip at 360 implies pinning risk

Signal vs Noise

~Put accumulation at 350 (real hedging)

~Negative net premium and put/call volume>1

~GEX negative: dealer short gamma

~VIX 19.5 elevated for GLD

~Call prints at 385-405 likely noise

Key Conclusions

🐻Put buying at 350 suggests institutional downside hedging

⚠️Spot below MP and negative gamma exposes pinning risk

📊Call buying at 385-405 minimal, likely noise

How to Use These Reports

This flow reflects the market close on June 23, 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.