GLD Archives - Cboe Blogs

  • Market News | VIX | Trader Talk | Strategy | Trade Ideas | Jul 8, 2016, 10:59 AM

    Gold - Where's the Risk?

    Gold - Where's the Risk?

    I’ve kept my eye off gold this year and boy have I missed a ride. The GLD ETF is up about 28% in 2016 which leaves most markets in the dust. Apparently #Gold is a trending topic today on Twitter as well. S0 even though the shiny metal is higher, is there any opportunity being anticipated for the rest of 2016? To get a feel for what the market thinks, I always consult option implied volatility. Luckily CBOE has the CBOE Gold ETF Volatility Index (GVZ) where I can get an idea if option[...]

  • Market News | Technical Analysis & Charts | VIX | Strategy | Jan 25, 2016, 9:57 AM

    Weekly Market Outlook - Reasons To Be Optimistic Here

    Weekly Market Outlook - Reasons To Be Optimistic Here

    After a scary start to the shortened trading week, Wednesday's intraday turnaround followed-through quite nicely all the way to the end of Friday's trading. By the time the closing bell rang that day, the S&P 500 (SPX) (SPY) had gained 1.4% after being down as much as 3.6% at one point on Wednesday. Better still, there's room for the market to keep rising. It's still too soon to say this is the beginning of what will be a prolonged rally; there remains an entanglement of resistance lines[...]

  • Market News | Strategy | Oct 7, 2015, 11:47 AM

    Options on MSCI Emerging Markets Index (MXEF) – Volume of 472 Contracts on Tuesday

    Options on MSCI Emerging Markets Index (MXEF) – Volume of 472 Contracts on Tuesday

    On Tuesday, October 6, the CBOE options on the MSCI Emerging Markets Index (MXEF) had reported volume of 472 contracts (236 call options and 236 put options). Why are several investors expressing more interest in the MXEF options that launched earlier this year? Below are four key reasons I have heard from investors. BIGGER NOTIONAL SIZE FOR CASH-SETTLED INDEX OPTIONS As shown in the chart below, many of the cash-settled index options have notional values that are much bigger than the notional[...]

  • Market News | VIX | Trader Talk | Futures | Jan 1, 2015, 12:54 PM

    Gold Volatility in 2014

    Gold Volatility in 2014

    In 2014 the price of Gold did not have any of the headline grabbing moves like those that occurred in 2013. The SPDR Gold Shares ETF (GLD – 113.58) finished the year down a little over 2% and was down 1.4% on the last day of the year. If we had taken New Year’s Eve off GLD was have been practically unchanged on the year. The chart below shows the daily closing prices for GLD and the CBOE Gold ETF Volatility Index (GVZ – 20.08) for this past year. If it were not for the fourth quarter[...]

  • Market News | VIX | Trader Talk | Futures | Dec 20, 2014, 4:30 PM

    The Week in Gold and Oil Volatility - 12/15 through 12/19

    The Week in Gold and Oil Volatility - 12/15 through 12/19

    Gold volatility represented by GVZ dropped 5% last week and the price of gold as represented by GLD was down 2.25%. Now on to what people care about these days – The week over week price change for the United States Oil ETF (USO – 21.96) comes nowhere near telling the story from last week. From Friday to Friday USO was up 0.03 from 21.93 to 21.96. So why in the world is the OVX curve in backwardation and why was OVX up over 10% to close over 50.00 for the first time in over 3 years? Why,[...]

  • Market News | VIX | Trader Talk | Futures | Dec 13, 2014, 1:00 PM

    The Week in Gold and Oil Volatility - 12/8 - 12/12

    The Week in Gold and Oil Volatility - 12/8 - 12/12

    I recall when I totally ignored Oil in this space for gold, my how things have changed.   USO dropped over 12% last week which places the fund down about 38% in 2014. The result for OVX, as seen on the right side below, was a jump of 45% and a move near all-time highs. The front month December future, which settles on the open Wednesday morning, finished the week at a 2.72 point discount to the index, which indicates to me that a quick move down in OVX (and stabilization of oil prices)[...]