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GLD

SPDR Gold SharesClose $442.09EOD only
Max Pain
$440.00
Next expiry Apr 22, 2026
Expected Move
±$6.53
1.5% from close
Price Gap
-2.09
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.54
Slightly call-heavy
Consensus
6.0/10
Range bias
Published snapshot: Apr 20, 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
Apr 20, 2026 close
GLD AI Consensus Report
Analysis based on market close April 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Conviction
5.5

out of 10

5.5 because multiple supportive signals (dealer gamma, rich short-dated premium) align, but flow-driven institutional buys and potential macro spikes are credible one-off invalidators that keep conviction moderate.

Where Perspectives Agree

Market consensus is neutral-to-mildly bearish with price pinned into the mid/high-$430s by dealer gamma — short-term upside capped while option sellers collect premium around current strikes.

Where They Diverge

Flow signals of institutional accumulation (buying delta, unusual sweep activity) directly oppose the pinning thesis by creating a directional bid that would overwhelm dealer mean-reversion; theta favors selling defined-risk call structures while earnings/term-structure (where present) suggests devolving IV skew that can punish short-call exposure — these views are mutually undermining.

Top Trade
via theta

Sell May 15 2026 435/450 call spread for a credit (defined-risk bear call spread expiring pre-next macro window).

Key Risk

Sustained break and close above $441 (dealer max-pain cap) — triggers gamma flip/short-covering and a fast move toward $455 resistance, invalidating the pin and short-call bias.

How to Use These Reports
This ai consensus reflects the market close on April 21, 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.