Reading the market regime before prices move
Reading the market regime before prices move
Every number here is computed from the traded GLD options chain. The call wall is where dealer hedging accumulates above spot and caps upside, the put wall is its mirror below, and the gamma flip is the level where hedging stops damping moves and starts amplifying them.
Computed
Last completed session, from the Finviro engine close archive · today's session levels refresh every five minutes inside the platform.
Price moves between these levels whether you see them or not. The difference is knowing them before your decision, not after.
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SPDR Gold Shares is an exchange-traded fund, listed since 2004, with about $134.65B in assets. The fund's price follows what it holds, so it moves with its basket, not with one company.
The SPDR Gold Trust aims to mirror the market price movements of physical gold bullion, after deducting its operational expenses. This pioneering fund was the first gold exchange-traded fund (ETF) to be introduced in the U.S., and also the initial U.S.-listed ETF to be backed by a tangible asset. For a significant number of investors, the combined expenses of purchasing GLD shares on the secondary market and…
Its beta is 0.44: the fund is usually calmer than the broad market, so its moves are narrower than the index.
On the price was $378.95, below its 50-day simple average (DMA-50 at $396.31) by 4.4%, and below its 200-day average (DMA-200 at $414.79) by 8.6%. Price is below both averages: the medium- and long-term trend is down.
A fund does not publish earnings and revenue statements like a company, so its numbers are read from its assets and its price.
These numbers describe the fund's size and nature and change slowly, while gamma levels describe how the fund moves within the session.
