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GLD

SPDR Gold SharesClose $382.01EOD only

Max Pain

$377.00

Next expiry Oct 19, 2026

Expected Move

±$3.61

0.9% from close

Price Gap

-5.01

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.49

Slightly call-heavy

Consensus

4.5/10

Consensus signal

Published snapshot: Oct 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

Oct 16, 2026 close

GLD Theta Report

Analysis based on market close June 4, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 4, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

7 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.3% from MP; +1 VIX 15

IV Environment

IV Regime

Normal

IV vs VIX

Avg IV (29.9%) ~2x VIX (15.4), elevated premium.

Favorable?

Yes

Term structure: Front-end elevated, 1d put skew 41.8% vs call 31.6%; term structure upward sloping.

📉Extreme 1d put skew suggests hedging demand; beware gap risk.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+126.5M)

Gamma flip: ~$360.00 — Approx — based on put OI concentration of 101,742 (12.5% below spot)

OI concentrations: Put OI concentration $335-$360 (12.5% below spot); call wall $450-$595. Max pain $410.

Verdict: High pinning risk at $410; positive GEX reinforces pinning. Spot near max pain.

Premium Opportunities

Iron condor

Sell 2026-06-26 $405.00/$402.00 put wing and $416.00/$419.00 call wing

Sells $405/$402 put wing and $416/$419 call wing, capturing elevated IV with 2.5% wings.

Credit: $1.91-$2.34

Max loss: $0.66

BE: 402.66 / 418.34

Mgmt: Close at 50% max gain or before earnings; adjust wings if spot breaks range on volume.

Risk Alerts

!High put skew at 1d expiry, watch gamma squeeze.

!Spot near max pain $410, monitor pinning expiry.

How to Use These Reports

This theta reflects the market close on June 4, 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.