GDX Options History — October 2013

In October 2013, GDX traded between $23.05 and $26.54. ATM implied volatility averaged 41.9%, placing in the 68.6% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded below realized volatility by 0.8% (HV 20d: 42.6%). Max pain ranged from $24.00 to $26.00. Net GEX was positive for 19 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.58.

Notable Days

2013-10-17: Highest Volume — 142,059 contracts
2013-10-21: Largest IV drop — 5.2% change
2013-10-09: Highest IV Rank — 87.5%
2013-10-09: Largest Expected Move — 13.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.68	$23.05	$26.54	$24.41	$25.10
Max Pain	$24.93	$24.00	$26.00	$25.50	$26.00
ATM IV	41.9%	36.7%	47.0%	45.8%	39.0%
Expected Move	12.0%	10.6%	13.5%	13.2%	11.2%
HV 20d	42.6%	31.7%	51.8%	51.8%	42.7%
HV 60d	51.8%	49.7%	55.3%	55.3%	51.2%
IV Rank	68.6%	49.5%	87.5%	83.0%	58.0%
IV Percentile	67.1%	47.6%	94.0%	90.9%	50.4%
Term Structure	-0.2%	-2.6%	0.9%	-0.8%	0.5%
VWIV	42.4%	37.4%	47.6%	46.4%	39.6%
Skew 25d	1.1%	-0.1%	2.9%	2.9%	1.5%
Skew 10d	2.1%	0.0%	4.9%	4.9%	1.6%
Call IV 25d	42.2%	37.3%	47.5%	45.4%	38.6%
Put IV 25d	43.3%	38.8%	48.3%	48.3%	40.1%
Bid-Ask Spread %	7.99	3.68	10.48	9.35	7.68
Gamma HHI	0.08	0.05	0.35	0.06	0.07
Net GEX	5.8M	-24.4M	20.3M	1.8M	6.8M
Net DEX	493.1M	122.2M	820.2M	564.4M	466.2M
Net VEX	-4.8M	-5.2M	-4.1M	-5.0M	-4.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.58	0.24	1.30	0.49	0.66
Total Volume	79,848.739	41,392	142,059	94,723	103,404
Total OI	1,990,865.13	1,868,786	2,109,076	1,905,983	2,007,713

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2013-10-01	$24.41	$25.50	45.8%	13.2%	51.8%	83.0%	46.4%	2.9%	-0.8%	1.8M	564.4M	-5.0M	0.49	9.35	63,722	31,001	1,207,572	698,411
2013-10-02	$24.49	$25.00	45.2%	12.9%	51.7%	80.6%	45.2%	2.3%	0.2%	3.2M	536.8M	-5.1M	0.24	9.87	74,134	18,113	1,232,206	705,268
2013-10-03	$24.26	$25.00	45.6%	13.1%	50.5%	82.1%	45.8%	1.6%	-0.5%	2.6M	571.9M	-5.0M	0.27	8.70	57,671	15,521	1,274,183	711,690
2013-10-04	$24.19	$25.00	45.2%	13.0%	49.7%	80.8%	45.0%	1.3%	-0.6%	3.2M	586.4M	-5.0M	0.85	7.32	31,940	27,035	1,310,396	715,142
2013-10-07	$24.59	$24.50	45.0%	12.9%	50.4%	80.1%	45.4%	1.1%	-0.6%	5.1M	519.9M	-5.0M	0.67	6.72	31,170	20,956	1,276,755	711,023
2013-10-08	$23.82	$24.50	46.9%	13.4%	49.7%	87.0%	47.6%	0.6%	-1.1%	345.4K	646.7M	-4.7M	0.48	8.26	49,060	23,522	1,286,926	716,750
2013-10-09	$23.92	$24.50	47.0%	13.5%	49.6%	87.5%	47.2%	0.7%	-1.2%	651.6K	630.8M	-4.7M	0.95	7.95	42,259	40,104	1,308,285	725,153
2013-10-10	$23.56	$0.00	45.9%	13.3%	45.9%	83.3%	46.4%	-0.1%	-2.6%	-4.1M	715.5M	-4.5M	0.91	3.68	38,484	35,101	1,322,809	741,583
2013-10-11	$23.05	$24.00	43.8%	12.6%	45.8%	75.6%	44.1%	1.0%	-0.8%	-24.4M	820.2M	-4.2M	0.68	10.12	59,012	40,089	1,330,322	755,917
2013-10-14	$23.11	$24.00	43.4%	12.3%	45.9%	74.0%	43.2%	1.8%	0.7%	-3.2M	771.3M	-4.1M	0.66	7.27	24,995	16,397	1,311,936	729,257
2013-10-15	$23.76	$24.00	42.2%	12.0%	46.5%	69.7%	42.3%	2.0%	0.4%	242.8K	671.3M	-4.4M	0.38	7.33	56,671	21,749	1,321,037	727,419
2013-10-16	$23.28	$24.00	40.5%	11.6%	32.3%	63.4%	41.0%	0.5%	0.8%	-647.7K	738.3M	-4.1M	0.46	10.48	45,824	20,962	1,342,747	727,730
2013-10-17	$24.50	$24.00	39.6%	11.4%	37.7%	60.3%	40.3%	0.6%	0.8%	9.8M	508.8M	-4.6M	0.59	5.81	89,544	52,515	1,354,688	723,629
2013-10-18	$24.38	$24.00	38.7%	11.0%	31.7%	56.8%	39.7%	0.8%	0.9%	8.4M	553.1M	-4.5M	1.30	8.46	28,563	37,187	1,372,402	736,674
2013-10-21	$24.93	$24.50	36.7%	10.6%	31.9%	49.5%	37.4%	1.5%	0.0%	9.6M	455.3M	-4.5M	0.39	9.16	41,243	16,080	1,178,530	690,256
2013-10-22	$26.02	$25.50	37.7%	10.8%	35.3%	53.2%	38.6%	1.2%	0.6%	17.2M	220.5M	-5.0M	0.36	4.99	72,207	25,741	1,196,704	696,141
2013-10-23	$25.18	$26.00	38.1%	10.9%	36.9%	54.9%	38.3%	0.7%	0.6%	13.2M	388.8M	-4.7M	0.64	8.20	33,361	21,407	1,211,334	704,219
2013-10-24	$26.13	$25.00	40.1%	11.5%	38.7%	61.9%	40.5%	0.6%	-0.8%	20.3M	169.1M	-5.2M	0.39	7.02	72,034	27,860	1,227,128	711,578
2013-10-25	$26.32	$25.50	39.3%	11.3%	38.7%	59.1%	40.0%	0.2%	-0.8%	15.8M	122.2M	-5.2M	0.40	6.33	54,557	21,965	1,254,111	722,883
2013-10-28	$26.54	$26.00	40.0%	11.3%	38.7%	61.6%	41.8%	0.7%	0.0%	17.8M	140.3M	-5.2M	0.47	9.29	53,035	25,175	1,215,254	700,632
2013-10-29	$25.78	$26.00	39.0%	11.1%	39.1%	58.0%	40.2%	0.8%	0.4%	13.3M	313.2M	-4.9M	0.81	9.29	30,859	24,945	1,222,261	714,338
2013-10-30	$26.23	$26.00	38.7%	11.1%	39.5%	57.0%	39.6%	1.1%	0.1%	16.6M	229.4M	-5.0M	0.39	10.47	85,972	33,375	1,231,977	726,929
2013-10-31	$25.10	$26.00	39.0%	11.2%	42.7%	58.0%	39.6%	1.5%	0.5%	6.8M	466.2M	-4.7M	0.66	7.68	62,295	41,109	1,270,381	737,332