I’m little late in posting this and it’s a little less useful now, with Gold having spiked higher post the horrible durable goods data this am. Nonetheless, here’s how dealer risk is looking ahead of the 1:30pm options expiry for Gold futures.

The 1200 and 1275 levels fall well beyond the average maximum move range for the trailing 50days (+/- 0.94%). There’s strong open interest at the 1230, 1250 and 1260 levels. The 1230 levels are paired off decently well. The real risk exists at the 1245 level from the long side.