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GLD

SPDR Gold SharesClose $390.78EOD only
Max Pain
$400.00
Next expiry Jun 10, 2026
Expected Move
±$5.22
1.3% from close
Price Gap
+9.22
Distance to max pain
IV Rank
52
Middle-high premium
P/C OI
0.60
Slightly call-heavy
Consensus
6.0/10
Bearish tilt
Published snapshot: Jun 9, 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 9, 2026 close
GLD Theta Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness4 / 10
Sizing: Conservative
Primary: Stay cash or short-dated puts
Invalidation: Spot below $384, volatility spike >40%, negative GEX triggers gamma selloff
Confidence:
3 / 10
base 5; +2 GEX/flow strongly aligned; +0.5 VIX 20; override: Adverse IV/low GEX reduce confidence; strategy adjusted to neutral

IV Environment

IV Regime
Normal
IV vs VIX
elevated vs VIX (33.75% vs 19.87%)
Favorable?
No

Term structure: short-term elevated, spikes at 6/18 and 6/30, back to normal

⚠️short-term IV higher than VIX due to event risk
📉negative GEX indicates dealer hedging may amplify moves

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-121.1M)

Gamma flip: ~$360.00 — Approx — based on put OI concentration of 102,022 (7.9% below spot)

OI concentrations: Put floor $335-$360 OI 102k; call wall $425-$555

Verdict: Spot below max pain ($400), dealer short gamma, possible drift toward $400, but support at $384 may hold

Premium Opportunities

#1
Iron condor
Sell 2026-07-02 $385.00/$380.00 put wing and $395.00/$399.00 call wing
Sell 385/380 put & 395/399 call wings to profit from range-bound movement.
Credit: $2.90-$3.55
Max loss: $1.45
BE: 381.45 / 398.55
Mgmt: Close if spot breaks $384 or $400; adjust wings if IV spikes.
#2
Put credit spread
Sell 2026-07-02 $385.00/$380.00 put spread
Sell 385/380 put spread to collect premium with bullish bias.
Credit: $1.37-$1.68
Max loss: $3.32
BE: $383.32
Mgmt: Exit if spot falls below $384; consider rolling down if tested.
#3
Call credit spread
Sell 2026-07-02 $395.00/$399.00 call spread
Sell 395/399 call spread to collect premium with bearish bias.
Credit: $1.53-$1.87
Max loss: $2.13
BE: $396.87
Mgmt: Close if spot exceeds $398; monitor for gamma squeeze.

Risk Alerts

!Short-term volatility spike from 6/18 weekly options
!Negative GEX can worsen selloffs below $384
!Earnings or macro events could push spot below gamma flip at $360
How to Use These Reports
This theta reflects the market close on June 9, 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.