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Unusual Option Volume

GLD SPDR Gold Shares410.85-11.75 (-2.8%)

SPDR Gold Shares trades 430,001 contracts.
I noticed a lot of bearish pressure coming from the options market on $GLD. Check out this order imbalance! -486 K option volume delta. What is option volume delta?

GLD 410.80-11.80 (-2.8%)SPDR Gold Shares

  • ATM straddle for 31-Aug-26 expiration returned a positive 57.6% from the previous business day
  • The upside wing (25 delta calls) declined -86.6%
  • Downside put (25 delta puts) gained 308.9%
  • The option volume for 31-Aug-26 expiration is 19,140

Outlook is neutral, requiring stock price to land between $418 and $433

Strategy has +89% ROI potential and 5% overvalued

Outlook is neutral, with stock confined to a band of ±4%

Strategy has +72% ROI potential and 11% overvalued

Outlook is neutral, with stock confined to a channel of ±3%

Strategy has +90% ROI potential and 16% overvalued

Market Data Delayed 15 Minutes