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GLD

SPDR Gold SharesClose $365.92EOD only
Max Pain
$390.00
Next expiry Jun 26, 2026
Expected Move
±$7.36
2.0% from close
Price Gap
+24.08
Distance to max pain
IV Rank
28
Middle-high premium
P/C OI
0.59
Slightly call-heavy
Consensus
7.0/10
Bearish tilt
Published snapshot: Jun 24, 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 24, 2026 close
GLD Theta Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Conservative
Primary: Short Put Spread
Invalidation: Break below $360 gamma flip
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 39% vs VIX 19, elevated
Favorable?
Yes

Term structure: Front-end call IV extreme, skew bullish; back-end flat

⚠️Call IV 60% on 1d expiry indicates extreme upside premium

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-203.4M)

Gamma flip: ~$360.00 — Approx — based on put OI concentration of 104,885 (2.6% below spot)

OI concentrations: Max pain $380/376/370; put wall $350, call wall $465+

Verdict: OI skewed to puts near 360 gamma flip; pin risk elevated at front expirations

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $360.00/$350.00 put spread
Sells out-of-the-money puts to collect premium with defined risk.
Credit: $2.07-$2.53
Max loss: $7.47
BE: $357.47
Mgmt: Close if GLD breaks below $360; manage early.
#2
Iron condor
Sell 2026-07-17 $360.00/$350.00 put wing and $385.00/$390.00 call wing
Sells both put and call wings for net credit.
Credit: $3.03-$3.70
Max loss: $6.30
BE: 356.30 / 388.70
Mgmt: Monitor pin risk; adjust wings if needed.

Risk Alerts

!High put IV skew suggests downside risk; short put spread benefits from contraction
!Gamma flip at $360 key support; break could accelerate decline
How to Use These Reports
This theta reflects the market close on June 25, 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.