GLD $406.77 pinning levels as of 2026-09-04 · 16:25 ET (after hours)

$GLD

SPDR Gold Shares · Gold ETF

▼ -3.45   (-0.84%)
Snapshot $406.77 · · 2026-09-04 · 16:25 ET (after hours)

The Levels

Put Wall $400 active wall
Gamma Flip $382 +6.6% above flip
Call Wall $430 held 7 sessions
spot $406.77

Regime pinning · moves get faded back to the walls.

Each wall is the strike carrying the heaviest open interest within 15% of price, call above as resistance, put below as support, pooled across all listed expirations. It is a structural positioning level, not a single expiry pin. Max pain is tracked separately.

The Read

$GLD is in short gamma at heat 38, meaning dealer hedging amplifies moves rather than dampening them. The $420 call wall has untested yesterday, while the $360 put wall has held 100% of tests, a level dealers are staunchly defending. Spot sits 4.2% below the $384.92 flip, so any push down will likely see continued amplification from short gamma.

Where the market is positioned


Talk to the oracle

Ask Nĩr about $GLD.

Free. No login. Real dealer positioning on $GLD, scored over a year of outcomes.

IV percentile · 1y 63 · premium elevated Put / call · OI · all expiries 0.36 · calls-heavy

Plays at the Walls

Covered Call

$424 · Oct 2 · 30Δ

$5.18 premium  ·  17%/yr annualized

Cash-Secured Put

$395 · Oct 2 · 30Δ

$5.40 premium  ·  18%/yr annualized

Not investment advice · Informational only


How our calls on $GLD have played out

Over the last 21 sessions · n=28

28 Walls Called
8 Held 100% 2 pinned · 6 rejected
0 Broke 0%
20 Untested

$420 call wall

held 4 sessions running


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Scored Levels


Implied vs Measured


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