GDX Options History — June 2017

In June 2017, GDX traded between $21.89 and $23.76. ATM implied volatility averaged 27.6%, placing in the 3.0% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded above realized volatility by 3.4% (HV 20d: 24.2%). Max pain ranged from $22.00 to $23.00. Net GEX was positive for 17 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 0.73.

Notable Days

2017-06-14: Highest Volume — 244,017 contracts
2017-06-19: Largest IV drop — 6.9% change
2017-06-29: Highest IV Rank — 10.3%
2017-06-06: Largest Expected Move — 8.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.55	$21.89	$23.76	$22.63	$22.03
Max Pain	$22.09	$22.00	$23.00	$23.00	$22.00
ATM IV	27.6%	25.6%	29.2%	28.9%	27.3%
Expected Move	7.9%	7.2%	8.5%	8.4%	7.4%
HV 20d	24.2%	19.2%	26.6%	24.2%	25.1%
HV 60d	28.2%	26.6%	31.5%	30.7%	26.7%
IV Rank	3.0%	0.0%	10.3%	1.7%	7.0%
IV Percentile	1.2%	0.0%	6.0%	0.4%	2.8%
Term Structure	0.4%	-0.6%	1.2%	-0.6%	0.8%
VWIV	28.1%	25.7%	30.1%	29.5%	26.1%
Skew 25d	0.0%	-0.8%	0.7%	0.3%	0.7%
Skew 10d	-0.1%	-2.5%	1.4%	-0.3%	1.4%
Call IV 25d	28.1%	25.4%	29.7%	29.3%	27.2%
Put IV 25d	28.1%	26.1%	29.6%	29.6%	28.0%
Bid-Ask Spread %	2.32	1.82	3.61	2.86	3.61
Gamma HHI	0.10	0.05	0.61	0.07	0.06
Net GEX	-884.1K	-111.5M	21.6M	804.7K	14.7M
Net DEX	-46.4M	-525.7M	379.9M	13.2M	19.6M
Net VEX	-8.9M	-9.4M	-8.5M	-8.7M	-9.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.73	0.39	1.11	0.98	0.68
Total Volume	129,646.636	60,793	244,017	60,793	92,368
Total OI	2,462,708.5	2,117,477	2,803,304	2,514,254	2,411,562

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
2017-06-01	$22.63	$23.00	28.9%	8.4%	24.2%	1.7%	29.5%	0.3%	-0.6%	804.7K	13.2M	-8.7M	0.98	2.86	30,708	30,085	1,346,259	1,167,995
2017-06-02	$22.74	$23.00	28.4%	8.3%	21.1%	0.0%	30.0%	-0.1%	-0.4%	1.3M	-28.6M	-8.8M	0.63	2.90	69,285	43,901	1,356,259	1,177,623
2017-06-05	$22.73	$22.00	27.8%	8.1%	19.2%	0.0%	28.8%	0.1%	0.4%	1.9M	-33.1M	-8.8M	1.08	2.10	55,492	59,998	1,348,044	1,167,241
2017-06-06	$23.76	$22.00	29.2%	8.5%	24.1%	5.8%	30.1%	-0.2%	-0.4%	21.6M	-525.7M	-9.1M	0.73	1.89	117,763	86,531	1,363,203	1,170,574
2017-06-07	$23.59	$22.00	28.8%	8.5%	24.4%	4.2%	29.8%	-0.0%	0.4%	21.5M	-471.3M	-9.2M	0.62	2.03	72,458	45,266	1,406,562	1,206,904
2017-06-08	$23.20	$22.00	29.0%	8.3%	24.9%	4.7%	29.1%	-0.3%	0.2%	15.3M	-264.4M	-9.2M	0.83	2.26	70,646	58,984	1,430,143	1,220,564
2017-06-09	$22.86	$22.00	28.0%	8.1%	24.4%	1.1%	28.4%	-0.4%	0.3%	11.5M	-86.0M	-9.0M	1.11	2.33	53,748	59,612	1,457,447	1,220,503
2017-06-12	$22.81	$22.00	28.0%	8.0%	24.1%	0.9%	28.7%	-0.2%	0.2%	479.4K	-47.4M	-8.8M	0.73	2.18	63,105	45,876	1,405,677	1,198,055
2017-06-13	$22.97	$22.00	28.0%	8.2%	24.2%	1.1%	28.9%	-0.3%	0.5%	5.7M	-141.0M	-9.0M	0.91	2.18	66,243	60,004	1,429,380	1,208,120
2017-06-14	$22.23	$22.00	28.0%	8.0%	26.6%	1.0%	28.1%	-0.2%	-0.5%	-22.8M	244.5M	-8.6M	0.78	2.67	137,176	106,841	1,461,077	1,237,667
2017-06-15	$22.01	$22.00	27.7%	8.0%	26.0%	0.0%	28.3%	-0.8%	0.5%	-36.9M	379.9M	-8.5M	0.89	2.50	85,079	75,584	1,508,352	1,263,159
2017-06-16	$22.04	$22.00	27.6%	7.9%	24.8%	0.0%	29.3%	0.1%	0.1%	-111.5M	297.1M	-8.6M	0.84	1.82	119,129	100,372	1,549,061	1,254,243
2017-06-19	$21.95	$22.00	25.7%	7.4%	24.5%	0.0%	26.5%	-0.1%	0.8%	-3.4M	111.7M	-8.6M	0.54	2.83	80,654	43,592	1,113,846	1,003,631
2017-06-20	$21.89	$22.00	26.9%	7.7%	24.0%	4.6%	27.7%	0.4%	1.2%	-3.8M	131.4M	-8.7M	0.59	2.11	63,323	37,332	1,149,009	1,014,241
2017-06-21	$22.09	$22.00	26.6%	7.6%	23.4%	3.3%	27.0%	-0.1%	1.0%	1.2M	42.6M	-8.8M	0.74	1.96	51,160	38,027	1,184,939	1,023,745
2017-06-22	$22.42	$22.00	26.4%	7.5%	23.8%	2.7%	26.6%	0.4%	0.8%	14.0M	-113.8M	-9.1M	0.64	2.12	65,704	41,913	1,218,596	1,035,577
2017-06-23	$22.77	$22.00	25.6%	7.2%	24.4%	0.0%	25.7%	0.6%	0.9%	14.2M	-258.1M	-9.2M	0.60	1.99	82,387	49,457	1,233,653	1,048,118
2017-06-26	$22.55	$22.00	26.7%	7.4%	24.5%	4.6%	26.3%	0.4%	0.5%	10.9M	-150.9M	-9.3M	0.52	2.26	61,143	31,550	1,225,142	1,030,714
2017-06-27	$22.39	$22.00	26.7%	7.6%	24.5%	4.6%	26.7%	0.3%	0.9%	8.8M	-99.7M	-9.0M	0.87	2.17	62,619	54,460	1,229,817	1,025,439
2017-06-28	$22.43	$22.00	27.8%	7.9%	24.5%	8.7%	28.7%	-0.0%	0.4%	9.9M	-98.9M	-9.4M	0.39	2.11	81,606	31,987	1,255,088	1,059,222
2017-06-29	$22.01	$22.00	28.2%	7.6%	25.2%	10.3%	27.3%	0.0%	0.7%	5.2M	58.6M	-9.2M	0.44	2.12	117,634	51,424	1,294,769	1,068,367
2017-06-30	$22.03	$22.00	27.3%	7.4%	25.1%	7.0%	26.1%	0.7%	0.8%	14.7M	19.6M	-9.3M	0.68	3.61	54,919	37,449	1,338,255	1,073,307