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GLD

SPDR Gold SharesClose $384.59EOD only
Max Pain
$390.00
Next expiry Jun 24, 2026
Expected Move
±$4.96
1.3% from close
Price Gap
+5.41
Distance to max pain
IV Rank
9
Low premium
P/C OI
0.58
Slightly call-heavy
Consensus
8.5/10
Bearish tilt
Published snapshot: Jun 22, 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 22, 2026 close
GLD Theta Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: N/A
Invalidation: Break below support 360
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
IV 36.5 > VIX 19.5 - ample premium
Favorable?
Yes

Term structure: Front-end IV elevated, back-end flattish

⚠️Bearish flow with high put volume ratio
💰IV elevated vs VIX, favorable for sellers

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-163.0M)

Gamma flip: ~$360.00 — Approx — based on put OI concentration of 101,991 (4.6% below spot)

OI concentrations: Put OI heavy $362-$360; call wall $465-$555

Verdict: Max pain pins $387/$395/$388; spot below suggests downward pressure

Premium Opportunities

#1
Call credit spread
Sell 2026-07-24 $380.00/$386.00 call spread
Sell $380/$386 call spread, defined risk, benefiting from bearish momentum and elevated IV.
Credit: $2.43-$2.97
Max loss: $3.03
BE: $382.97
Mgmt: Close if GLD rallies above $387; monitor expiration. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.
#2
Iron condor
Sell 2026-07-31 $374.00/$368.00 put wing and $380.00/$388.00 call wing
Sell $374/$368 put and $380/$388 call spread, profiting from time decay and stable price.
Credit: $5.15-$6.30
Max loss: $1.70
BE: 367.70 / 386.30
Mgmt: Adjust if GLD breaks below $374 or above $388. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.; long_call: Volume below 5.

Risk Alerts

!SPY -1.45%, QQQ -3.29% - correlated selloff
!Dealer GEX -$163M - risky for puts
!High near-term call IV skew
How to Use These Reports
This theta reflects the market close on June 23, 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.