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GLD

SPDR Gold SharesClose $386.54EOD only
Max Pain
$390.00
Next expiry Jun 15, 2026
Expected Move
±$6.12
1.6% from close
Price Gap
+3.46
Distance to max pain
IV Rank
63
High premium
P/C OI
0.58
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 12, 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 12, 2026 close
GLD Theta Report
Analysis based on market close June 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Iron condor around $385-$388
Invalidation: Break above $411 or below $385
Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 VIX 16

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 34.2% vs VIX 16.2, skew elevated
Favorable?
Yes

Term structure: Near-term ATM IV near VIX, skewed puts; term structure slightly upward

⚠️Put skew rich, pinning support near $385

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+54.5M)

Gamma flip: ~$360.00 — Approx — based on put OI concentration of 100,914 (9.2% below spot)

OI concentrations: Max pain pins: $385 (6/15), $388 (6/17), $385 (6/18); put floor $335-$360

Verdict: Concentrated OI at $385 and $388; potential pinning action

Premium Opportunities

#1
Iron condor
Sell 2026-07-10 $382.00/$372.00 put wing and $415.00/$426.00 call wing
Sells wings at expected range, profits from theta and IV contraction.
Credit: $3.01-$3.69
Max loss: $7.31
BE: 378.31 / 418.69
Mgmt: Monitor pinning; exit at 50% max profit or if spot breaks range. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.; long_call: Volume below 5.
#2
Put credit spread
Sell 2026-07-17 $375.00/$360.00 put spread
Bullish play with defined risk, collects premium.
Credit: $1.61-$1.96
Max loss: $13.04
BE: $373.04
Mgmt: Adjust if spot drops below $375.
#3
Call diagonal
Sell 2026-07-10 $412.00 call / buy 2026-08-21 $420.00 call
Vertical theta play with short leg near expiry.
Debit: $3.24-$3.96
Max loss: $3.96
BE: Path-dependent
Mgmt: Roll if short leg challenged.

Risk Alerts

!Large negative net premium (-$284M) indicates dealer short premium
!Gamma flip at $360 (put OI concentration)
How to Use These Reports
This theta reflects the market close on June 15, 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.