{"symbol":"GLD","name":"SPDR Gold Shares","spot":"423.36","strategy":"csp","strategy_label":"cash-secured puts","rv":"25.5","rv_window":30,"gap_distortion":null,"rv_all":"25.5","earnings":null,"earnings_days":null,"any_sell":true,"rows":[{"profile":"conservative","band":"0.05–0.15","notes":"~5-15Δ. Assignment is genuinely unlikely; you are paid little for that. Skips anything spanning earnings and demands a real vol premium.","sell":false,"headline":"Not worth selling puts on this name right now.","reasons":["Richest contract in the band prices vol at 1.03x realized, under the 1.10x this profile requires."],"best":null},{"profile":"moderate","band":"0.15–0.25","notes":"~15-25Δ, 21-60 DTE. Where most premium-selling literature sits: meaningful credit, assignment a real but minority outcome.","sell":true,"headline":"Best put to sell: see below.","reasons":["Best contract prices vol at 1.06x realized.","76% chance of expiring unassigned (80% probability of profit at 23Δ).","21% annualized on $40,622 of collateral."],"best":{"expiry":"2026-09-04","dte":12,"strike":"409","delta":"-0.23","credit":"2.78","capital":"40,622","static":"0.7","aroc":"21","vay":"0.77","vay_band":"rich","pop":"80","p_otm":"76","iv":"27","iv_rv":"1.06","earnings":false,"contract":"GLD260904P00409000","breakeven":"406.22","cushion":"3.4"}},{"profile":"aggressive","band":"0.25–0.40","notes":"~25-40Δ. Roughly one trade in three finishes in the money, so only coherent if you are willing to own the stock (puts) or be called away (calls) and have sized the position for it.","sell":true,"headline":"Best put to sell: see below.","reasons":["Best contract prices vol at 1.06x realized.","66% chance of expiring unassigned (74% probability of profit at 32Δ).","33% annualized on $41,052 of collateral."],"best":{"expiry":"2026-09-04","dte":12,"strike":"415","delta":"-0.32","credit":"4.47","capital":"41,052","static":"1.1","aroc":"33","vay":"1.23","vay_band":"rich","pop":"74","p_otm":"66","iv":"27","iv_rv":"1.06","earnings":false,"contract":"GLD260904P00415000","breakeven":"410.52","cushion":"2.0"}}],"term":[{"expiry":"09-04","dte":12,"atm_iv":"28","iv_pct":100,"earnings":false,"strike":"410","delta":"-0.24","credit":"3.01","aroc":"23","vay":"0.83","p_otm":"74","iv_rv":"1.06","gamma":"0.064"},{"expiry":"09-11","dte":19,"atm_iv":"27","iv_pct":30,"earnings":false,"strike":"400","delta":"-0.16","credit":"2.10","aroc":"10","vay":"0.39","p_otm":"83","iv_rv":"1.03","gamma":"0.040"},{"expiry":"09-18","dte":26,"atm_iv":"27","iv_pct":27,"earnings":false,"strike":"405","delta":"-0.24","credit":"4.17","aroc":"15","vay":"0.57","p_otm":"74","iv_rv":"1.01","gamma":"0.045"},{"expiry":"09-25","dte":33,"atm_iv":"27","iv_pct":23,"earnings":false,"strike":"400","delta":"-0.21","credit":"3.94","aroc":"11","vay":"0.43","p_otm":"77","iv_rv":"1.01","gamma":"0.037"},{"expiry":"09-30","dte":38,"atm_iv":"26","iv_pct":0,"earnings":false,"strike":"400","delta":"-0.22","credit":"4.44","aroc":"11","vay":"0.43","p_otm":"76","iv_rv":"0.99","gamma":"0.036"},{"expiry":"10-02","dte":40,"atm_iv":"27","iv_pct":19,"earnings":false,"strike":null,"delta":null,"credit":null,"aroc":null,"vay":null,"p_otm":null,"iv_rv":null,"gamma":null},{"expiry":"10-16","dte":54,"atm_iv":"26","iv_pct":4,"earnings":false,"strike":"400","delta":"-0.25","credit":"6.36","aroc":"11","vay":"0.43","p_otm":"72","iv_rv":"1.00","gamma":"0.032"},{"expiry":"11-20","dte":89,"atm_iv":"26","iv_pct":6,"earnings":false,"strike":null,"delta":null,"credit":null,"aroc":null,"vay":null,"p_otm":null,"iv_rv":null,"gamma":null}],"timing":{"window":"weekend","quality":"closed","advice":"Market is closed. Quotes are last week's close.","movement":null,"is_good":false,"clock":"03:28 EDT","streak":"3 consecutive up closes (+6.2%). Reported as context only: streak-based timing showed no measurable effect on the seller's edge (t = 0.02, measured over 33 years of index data)."},"cached":false,"age_minutes":0,"generated":"2026-08-23 07:28 UTC"}