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GLD

SPDR Gold SharesClose $365.92EOD only

Max Pain

$390.00

Next expiry Jun 26, 2026

Expected Move

±$7.36

2.0% from close

Price Gap

+24.08

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.59

Slightly call-heavy

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 24, 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 24, 2026 close

GLD Flow Report

Analysis based on market close June 25, 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: 360; 370

Flow Summary

Net premium: -$741.0M bearish

P/C volume ratio: 1.41

P/C OI ratio: 0.59

Bearish flow dominates with -$740M net premium and high put volume. Negative GEX (-$203M) aligns with sellers in control. Unusual OTM call prints are speculative but insufficient to shift bearish bias. Key levels: 360 gamma flip, 370 resistance.

Notable Prints

GLD 2026-12-18 $400.00 Call

Vol: 8,820

OI: 475

Vol/OI: 18.6x

IV: 27.1%

Notional: ~$14.0M

Intent: Bullish speculation

Dual read: Could be bull spread leg

Read-through: Large long-dated call buying

GLD 2026-12-18 $465.00 Call

Vol: 8,752

OI: 500

Vol/OI: 17.5x

IV: 28.0%

Notional: ~$3.9M

Intent: Aggressive bullish bet

Dual read: Maybe part of bear spread

Read-through: Extreme OTM call accumulation

GLD 2026-06-26 $378.00 Call

Vol: 2,276

OI: 147

Vol/OI: 15.5x

IV: 24.6%

Notional: ~$77K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-06-29 $375.00 Call

Vol: 2,759

OI: 181

Vol/OI: 15.2x

IV: 21.5%

Notional: ~$428K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

GLD 2026-07-24 $375.00 Put

Vol: 2,416

OI: 160

Vol/OI: 15.1x

IV: 23.9%

Notional: ~$3.0M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Dec 2026 $400/$465 calls added (18x OI); Jun $370/$376/$378 calls

Put additions: Jun 30 $425 put (high IV), Jul 24 $375 put, Mar 27 $325 put

GEX/DEX consistency: Negative GEX aligns with bearish flow; DEX positive shows dealers delta long

OI clusters: Call OI: $400 (500), $465 (500); Put OI: $425 (419), $375 (160)

Hedging evidence: Collars via $375 puts (Jul) and $425 puts (Jun); tail at $325

Max pain context: Spot $369.63 below MP; gamma flip at $360

Signal vs Noise

~Dec 2026 call buying at $400/$465 is signal of institutional bullish positioning

~Large put volume at $425 (high IV) likely noise from hedging existing positions

~High put/call volume ratio (1.41) reflects short-term hedging, not structural bear shift

Key Conclusions

📈Aggressive Dec 2026 call buying (18x OI) at $400/$465 signals long-term bullish bet

⚠️Negative GEX (-$203M) and bearish flow could amplify drops below $360 gamma flip

🛡️Put buying at $375 (Jul) and $425 (Jun) suggests collar; $325 tail hedges downside

How to Use These Reports

This flow reflects the market close on June 25, 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.