Commodities · Commodity ETFs
GLD Implied Volatility, IV Rank & Options Chain
SPDR Gold Shares (GLD) options data: IV rank, options chain, GEX and Greeks. Comprehensive options market data for SPDR Gold Shares (GLD).
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GLD options trade with implied volatility typically in the 10% - 35% range, averaging 200K+ contracts in daily volume with excellent liquidity. Next earnings: N/A (ETF). Weekly options and LEAPS are available.
GLD implied volatility
As of 2026-10-26As of 2026-10-26, GLD's 30-day implied volatility is 20.5%, placing its 1-year IV percentile at 15.0 — above 15.0% of the past year's daily IV readings, a low-IV, premium-buying regime favoring long calls/puts and debit spreads.
GLD live chain, Greeks and GEX
TerminalEvery figure above is reference data. The live GLD chain, its Greeks, the gamma profile and the flow tape update through the session inside the Terminal.
GLD options at a glance
- Daily volume
- 200K+ contracts
- IV range
- 10% - 35%
- Bid-ask spread
- $0.01 - $0.03 ATM
- Expirations
- Weekly, monthly, LEAPS
- Open interest
- 3M+ contracts
- Next earnings
- N/A (ETF)
About SPDR Gold Shares (GLD)
SPDR Gold Shares (GLD) is the largest physically-backed gold ETF, holding gold bullion in London vaults. GLD tracks the price of gold and provides investors with exposure to gold price movements without holding physical metal. It's widely used for portfolio hedging, inflation protection, and gold speculation.
Company profile
- Sector
- Commodities
- Industry
- Precious Metals
- Market cap
- $60B+ AUM
- Exchange
- NYSE Arca
Key dates
- Next earnings
- N/A (ETF)
- Earnings frequency
- N/A
- Dividend schedule
- None
- Fiscal year end
- N/A
GLD is the gold standard for gold ETF investing. It's the most liquid gold investment vehicle and a cornerstone for portfolio hedging strategies.
ApexVol Terminal
Options analytics, live.
Chains, IV rank, expected move and dealer positioning for 5,500+ US stocks and ETFs.
- Live chains and Greeks
- IV rank and percentile
- Expected move and GEX
- Screener and strategy P&L
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GLD options market overview
GLD options are the primary vehicle for gold options exposure. Highly liquid with massive institutional use for hedging and speculation.
- Average daily volume
- 200K+ contracts
- Total open interest
- 3M+ contracts
- Put/call ratio
- 0.70 - 1.10 typical
- Typical ATM spread
- $0.01 - $0.03 ATM
- Weekly options
- Available
- LEAPS available
- Yes
Liquidity assessment: Excellent
GLD options are extremely liquid. The primary options vehicle for gold exposure.
GLD implied volatility and IV rank
GLD implied volatility reflects gold's role as a safe haven and inflation hedge. IV rises during market stress, geopolitical uncertainty, and inflation concerns.
Earnings impact
No earnings. IV rises on geopolitical events, Fed policy shifts, and market crises.
The post-earnings volatility drop is known as IV crush. Holders of short GLD options should also understand early assignment risk around dividends and expiration.
Historical volatility vs IV
IV typically trades near HV. Premium expands during flight-to-safety events.
Term structure
Usually contango. Relatively flat given no event-driven catalysts.
The smile, the term structure and the cone for GLD, on today's chain.
Open GLD in IV IntelligenceGLD gamma exposure (GEX)
Gamma Exposure analysis for GLD shows institutional hedging patterns around round number gold price levels.
- Typical GEX profile. GLD typically operates in positive gamma with orderly dealer hedging.
- Key levels. Strike clustering around gold price milestones ($1800, $1900, $2000/oz equivalents).
- Dealer hedging. Dealer hedging is orderly and primarily institutional.
Where the gamma sits on GLD right now, strike by strike.
See live GLD GEXCommon GLD options strategies
These are strategies commonly used by traders on GLD options, based on typical market characteristics. This is not investment advice.
Key considerations for GLD options
- Gold is a traditional safe haven during market stress and geopolitical uncertainty
- Real interest rates (nominal rates minus inflation) are a key driver of gold prices
- Fed policy significantly impacts gold - rate cuts are typically bullish
- Dollar strength inversely correlated with gold prices
- Central bank buying supports long-term gold demand
- No yield/dividend - gold only provides capital appreciation
GLD key events
- Fed Interest Rate Decisions
- Inflation Data (CPI, PCE)
- Geopolitical Events
- Dollar Strength/Weakness
- Central Bank Gold Purchases
GLD options data by API, or in Claude
Every number on this page is one request away. The implied volatility API returns GLD's IV rank and percentile, the gamma exposure API its dealer positioning by strike, and the chain API every strike with Greeks. Connected to the ApexVol MCP server, Claude, Cursor or ChatGPT can ask for them in plain English.
curl -H "Authorization: Bearer avmcp_YOUR_TOKEN" \
"https://apexvol.com/api/mcp/data/iv-rank/GLD"What is GLD's IV rank right now, and where is its gamma flip?
Claude calls get_iv_rank and get_gexTry GEX on GLD in the console, more prompts for GLD, or set the server up in Claude Desktop, Claude Code, Cursor or ChatGPT.
- Written by
- ApexVol Research Team
Quantitative options research. All calculations use live institutional-grade data — the same source professional volatility desks use. - Reviewed by
- Ryan Silk, ApexVol Founder
Reviewed for technical accuracy. 10+ years trading options; built ApexVol's pricing engine, Greeks model and IV-rank methodology.
Revised as market conditions and institutional data change. Last revised 2026-10-26. How we research →
Track this name's volatility weekly. The week's biggest IV movers and the expected earnings moves, straight from the data.
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Questions
Frequently asked
about GLD options.
How liquid are GLD options?
GLD options are extremely liquid with average daily volume exceeding 200,000 contracts. They are the primary vehicle for gold options exposure.
What is GLD's typical implied volatility?
GLD implied volatility typically ranges from 10% to 35%. Normal conditions see IV between 14-20%, lower than most equities due to gold's relative stability.
How does GLD track gold prices?
GLD holds physical gold bullion and each share represents approximately 1/10th of an ounce of gold. The ETF price closely tracks the spot gold price.
When does gold typically rise?
Gold typically rises during market stress, geopolitical uncertainty, inflation fears, and when real interest rates are falling. It often moves inversely to the U.S. dollar.
Does GLD pay a dividend?
No, GLD does not pay a dividend. Gold is a non-yielding asset, so returns come only from price appreciation.
What is the best time to trade GLD options?
The most liquid trading hours for GLD options are typically during regular market hours (9:30 AM - 4:00 PM ET), with highest volume around market open and close.
How do I calculate GLD option Greeks?
Use our free Options Calculator or Greeks Heatmap tool to calculate delta, gamma, theta, vega and other Greeks for GLD options across all strikes and expirations.
What happens to GLD options at expiration?
In-the-money GLD options are typically auto-exercised at expiration. Out-of-the-money options expire worthless. Consider closing positions before expiration to avoid assignment risk.
What is GLD's gamma exposure (GEX)?
Gamma exposure (GEX) measures how options dealers' hedging of their net gamma position can influence GLD's intraday price action. GLD typically operates in positive gamma with orderly dealer hedging. Dealer hedging is orderly and primarily institutional. Positive GEX tends to dampen volatility and create mean-reverting moves, while negative GEX can amplify swings. View live GLD GEX levels and the gamma-flip point on ApexVol.
What is GLD's IV rank?
GLD's IV rank shows where GLD's current implied volatility sits within its trailing 1-year range, scored 0–100. A reading near 100 means IV is near its yearly high — options are relatively expensive, which favors premium-selling strategies like credit spreads and iron condors. A reading near 0 means IV is near its yearly low, favoring premium-buying. GLD implied volatility typically ranges from 10% - 35%. Check GLD's live IV rank and percentile on ApexVol's IV analytics.
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GLD analytics
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