GDX Options History — June 2016

In June 2016, GDX traded between $22.72 and $27.63. ATM implied volatility averaged 48.5%, placing in the 53.0% IV rank vs the trailing year. The 30-day expected move averaged 13.9%. IV traded below realized volatility by 6.4% (HV 20d: 54.9%). Max pain ranged from $22.00 to $25.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.82.

Notable Days

2016-06-03: Highest Volume — 324,941 contracts
2016-06-23: Largest IV drop — 8.0% change
2016-06-17: Highest IV Rank — 64.2%
2016-06-17: Largest Expected Move — 15.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.71	$22.72	$27.63	$22.75	$27.63
Max Pain	$24.59	$22.00	$25.00	$22.00	$25.00
ATM IV	48.5%	43.8%	52.8%	47.1%	43.8%
Expected Move	13.9%	12.3%	15.3%	13.1%	12.3%
HV 20d	54.9%	49.9%	63.8%	53.5%	52.0%
HV 60d	52.4%	50.5%	55.1%	51.5%	51.5%
IV Rank	53.0%	39.7%	64.2%	49.8%	39.7%
IV Percentile	60.1%	15.5%	87.7%	54.4%	15.5%
Term Structure	-0.5%	-1.5%	0.5%	-0.9%	0.5%
VWIV	49.1%	43.4%	54.6%	46.0%	43.4%
Skew 25d	0.3%	-1.0%	1.6%	1.3%	-0.3%
Skew 10d	0.6%	-2.6%	5.2%	2.1%	-0.4%
Call IV 25d	49.1%	44.3%	54.6%	47.3%	44.3%
Put IV 25d	49.4%	44.0%	54.5%	48.6%	44.0%
Bid-Ask Spread %	5.00	3.44	7.46	7.46	5.50
Gamma HHI	0.08	0.07	0.12	0.09	0.10
Net GEX	16.1M	-5.0M	32.7M	-4.1M	29.5M
Net DEX	-1.30B	-1.86B	-538.6M	-553.7M	-1.53B
Net VEX	-7.0M	-7.3M	-6.3M	-6.4M	-7.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.82	0.39	1.89	0.56	0.89
Total Volume	162,119.727	71,096	324,941	105,259	89,132
Total OI	2,447,602.5	1,912,469	2,966,752	2,545,722	2,156,648

Daily Data (22 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
2016-06-01	$22.75	$22.00	47.1%	13.1%	53.5%	49.8%	46.0%	1.3%	-0.9%	-4.1M	-553.7M	-6.4M	0.56	7.46	67,299	37,960	1,232,305	1,313,417
2016-06-02	$22.72	$24.00	46.3%	12.9%	51.0%	47.5%	45.4%	1.6%	-1.1%	-5.0M	-538.6M	-6.3M	0.89	3.73	37,549	33,547	1,236,646	1,329,672
2016-06-03	$25.34	$24.00	47.2%	13.3%	63.8%	49.8%	47.3%	0.6%	-1.1%	16.8M	-1.53B	-6.3M	0.74	6.14	186,468	138,473	1,235,462	1,335,179
2016-06-06	$25.48	$24.00	47.4%	13.6%	62.1%	50.4%	48.8%	1.3%	0.2%	21.4M	-1.56B	-6.5M	1.89	4.10	79,410	149,990	1,246,983	1,314,816
2016-06-07	$25.14	$24.00	47.4%	13.3%	57.2%	50.3%	46.6%	1.1%	-1.5%	17.5M	-1.43B	-6.6M	0.85	4.14	66,130	56,455	1,273,357	1,351,651
2016-06-08	$26.00	$24.00	47.5%	13.6%	57.1%	50.6%	47.7%	0.5%	-0.0%	27.5M	-1.76B	-6.6M	0.53	4.45	150,251	79,605	1,284,415	1,356,625
2016-06-09	$26.37	$24.00	47.7%	13.6%	56.7%	51.2%	47.8%	0.9%	-0.6%	27.4M	-1.86B	-6.8M	0.85	4.11	121,047	102,953	1,302,391	1,389,380
2016-06-10	$25.94	$25.00	48.8%	13.9%	56.7%	54.0%	49.0%	1.3%	-0.4%	22.2M	-1.66B	-7.2M	0.70	6.19	74,638	52,554	1,329,024	1,458,402
2016-06-13	$25.97	$25.00	50.7%	14.5%	56.6%	58.9%	51.4%	0.2%	-0.3%	23.6M	-1.68B	-7.2M	0.61	4.40	84,138	51,422	1,329,977	1,426,472
2016-06-14	$25.40	$25.00	51.5%	14.7%	56.8%	60.9%	51.8%	0.7%	-0.9%	18.9M	-1.45B	-7.3M	0.85	4.87	81,301	69,001	1,354,566	1,445,668
2016-06-15	$26.27	$25.00	50.5%	14.5%	57.9%	58.1%	50.2%	0.2%	-0.2%	32.7M	-1.80B	-7.3M	0.60	5.74	119,416	71,935	1,375,990	1,476,229
2016-06-16	$25.53	$25.00	50.6%	14.5%	53.9%	58.4%	51.1%	-0.4%	-1.0%	23.6M	-1.51B	-7.2M	1.00	4.86	112,933	113,212	1,395,525	1,497,229
2016-06-17	$25.82	$25.00	52.8%	15.3%	53.9%	64.2%	54.6%	-0.2%	-1.3%	7.1M	-1.60B	-7.3M	0.97	5.26	94,820	92,376	1,411,007	1,555,745
2016-06-20	$25.72	$25.00	50.2%	14.6%	54.0%	57.5%	51.4%	-0.0%	-1.2%	5.8M	-841.4M	-7.1M	0.90	4.60	70,341	63,297	992,533	919,936
2016-06-21	$25.02	$25.00	49.4%	14.4%	55.0%	55.5%	50.9%	0.8%	-0.8%	1.4M	-639.4M	-7.1M	0.96	3.44	52,105	49,796	1,028,505	956,655
2016-06-22	$25.47	$25.00	51.3%	15.3%	50.1%	60.3%	53.9%	-0.6%	-0.8%	4.2M	-778.3M	-7.3M	0.79	5.41	77,049	60,570	1,045,167	977,656
2016-06-23	$25.24	$25.00	47.2%	13.8%	49.9%	49.9%	48.7%	-0.3%	0.4%	939.0K	-716.6M	-7.2M	0.91	4.40	72,721	66,155	1,084,466	1,006,162
2016-06-24	$26.82	$25.00	48.8%	14.2%	53.6%	53.9%	49.7%	-0.5%	-0.5%	15.9M	-1.29B	-7.3M	0.65	5.89	155,552	101,369	1,107,073	1,020,377
2016-06-27	$27.04	$25.00	49.1%	14.2%	51.3%	54.7%	50.3%	-0.4%	-0.7%	20.3M	-1.29B	-7.3M	0.71	6.17	65,327	46,315	1,093,766	976,178
2016-06-28	$26.61	$25.00	46.4%	13.4%	51.8%	46.4%	47.1%	-1.0%	0.5%	18.5M	-1.16B	-7.1M	0.39	4.78	89,292	34,864	1,097,556	994,944
2016-06-29	$27.33	$25.00	45.4%	12.9%	52.2%	43.9%	46.3%	-0.6%	0.3%	28.6M	-1.44B	-7.1M	0.75	4.37	84,626	63,240	1,127,350	1,004,150
2016-06-30	$27.63	$25.00	43.8%	12.3%	52.0%	39.7%	43.4%	-0.3%	0.5%	29.5M	-1.53B	-7.0M	0.89	5.50	47,280	41,852	1,125,011	1,031,637