GDX Options History — January 2018

In January 2018, GDX traded between $23.13 and $24.67. ATM implied volatility averaged 22.0%, placing in the 15.1% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 2.9% (HV 20d: 19.1%). Max pain ranged from $23.00 to $23.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.78.

Notable Days

  • 2018-01-24: Highest Volume — 156,686 contracts
  • 2018-01-17: Largest IV spike — 8.4% change
  • 2018-01-30: Highest IV Rank — 27.9%
  • 2018-01-29: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.77$23.13$24.67$23.81$23.73
Max Pain$23.00$23.00$23.00$23.00$23.00
ATM IV22.0%20.1%24.6%20.7%24.0%
Expected Move6.4%5.6%7.2%5.9%6.9%
HV 20d19.1%15.8%24.4%18.5%23.4%
HV 60d17.1%15.7%19.1%16.3%19.1%
IV Rank15.1%6.7%27.9%8.8%26.3%
IV Percentile22.1%7.9%40.5%12.7%35.7%
Term Structure0.5%-0.5%1.2%0.5%0.6%
VWIV22.5%19.6%25.6%20.9%24.1%
Skew 25d-0.3%-0.9%0.2%-0.1%-0.6%
Skew 10d-0.7%-2.3%0.1%0.0%-0.9%
Call IV 25d22.6%20.5%25.7%21.5%25.0%
Put IV 25d22.4%20.3%25.2%21.5%24.4%
Bid-Ask Spread %2.191.743.412.103.41
Gamma HHI0.120.090.170.120.10
Net GEX19.4M6.8M39.2M26.1M17.8M
Net DEX-476.6M-930.0M-199.2M-602.4M-353.5M
Net VEX-6.5M-6.7M-6.3M-6.6M-6.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.361.910.570.50
Total Volume103,316.04866,236156,68696,65192,412
Total OI2,240,926.3331,505,6522,724,4862,494,5601,687,146

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-01-02$23.81$23.0020.7%5.9%18.5%8.8%20.9%-0.1%0.5%26.1M-602.4M-6.6M0.572.1061,71534,9361,295,4131,199,147
2018-01-03$23.61$23.0021.4%5.6%18.3%11.2%19.6%-0.0%0.4%20.8M-495.1M-6.6M1.202.2636,40043,8241,296,9461,216,584
2018-01-04$23.69$23.0020.7%6.2%17.2%8.7%22.3%0.0%0.6%21.5M-540.5M-6.4M1.011.8846,14946,3921,303,2571,231,486
2018-01-05$23.65$23.0020.2%6.1%16.4%7.1%21.7%0.1%0.7%18.5M-506.3M-6.6M0.562.1764,93136,3671,316,9051,257,534
2018-01-08$23.41$23.0020.1%6.0%16.9%6.7%21.5%0.1%0.8%18.0M-350.2M-6.3M1.912.4225,84749,2731,338,3701,257,996
2018-01-09$23.13$23.0021.3%6.4%17.8%11.1%23.0%-0.3%1.2%9.6M-199.2M-6.4M1.082.2053,29257,5551,344,9541,266,102
2018-01-10$23.26$23.0020.4%6.0%17.5%8.1%21.2%-0.7%0.5%13.8M-294.5M-6.4M1.221.9240,98449,8421,377,0971,271,158
2018-01-11$23.37$23.0020.3%6.0%17.3%7.6%21.0%-0.6%0.7%18.3M-378.6M-6.4M1.032.0832,59433,6421,396,5771,280,498
2018-01-12$23.96$23.0021.2%6.3%15.8%11.4%22.0%-0.7%1.1%26.5M-735.9M-6.6M0.471.7490,47742,4021,410,4661,298,621
2018-01-16$24.37$23.0021.6%6.2%16.2%12.7%21.8%-0.3%0.1%39.2M-930.0M-6.3M0.501.8280,14740,4191,380,9781,291,250
2018-01-17$23.96$23.0023.4%6.7%17.8%19.7%23.6%0.0%-0.5%25.5M-686.6M-6.5M0.641.8562,37239,7311,386,3361,301,433
2018-01-18$23.61$23.0022.8%6.5%19.0%17.8%23.0%-0.3%-0.4%6.8M-468.3M-6.4M1.281.8443,98556,3151,386,6031,308,770
2018-01-19$23.66$23.0022.6%6.5%19.0%17.0%23.1%-0.9%-0.5%10.9M-488.9M-6.3M0.361.8670,04025,5091,390,8891,333,597
2018-01-22$23.71$23.0021.2%6.0%18.4%11.8%21.2%0.0%0.6%12.4M-286.1M-6.4M0.642.1056,51736,049752,346753,306
2018-01-23$24.14$23.0021.9%6.3%19.1%16.0%22.4%-0.4%0.5%21.9M-465.7M-6.5M0.802.1255,21744,081784,827766,261
2018-01-24$24.67$23.0022.5%6.5%20.1%18.7%23.2%-0.8%0.9%30.3M-702.7M-6.5M0.482.12105,76450,922817,646781,239
2018-01-25$24.15$23.0022.8%6.5%21.6%19.8%23.2%-0.1%1.2%23.5M-491.8M-6.6M0.542.2194,75651,099843,109790,531
2018-01-26$24.30$23.0022.9%6.5%21.6%20.3%23.0%0.2%0.4%21.2M-528.9M-6.6M0.402.6076,92330,503853,016803,513
2018-01-29$23.61$23.0024.6%7.2%24.3%27.8%25.6%-0.0%0.5%13.0M-279.1M-6.6M0.392.9091,05635,405840,914786,137
2018-01-30$23.44$23.0024.6%7.1%24.4%27.9%25.2%-0.6%0.6%11.7M-225.2M-6.7M0.722.3548,70935,084863,607796,888
2018-01-31$23.73$23.0024.0%6.9%23.4%26.3%24.1%-0.6%0.6%17.8M-353.5M-6.7M0.503.4161,69430,718881,202805,944