GDX Options History — April 2018

In April 2018, GDX traded between $21.91 and $23.02. ATM implied volatility averaged 23.1%, placing in the 27.5% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 1.3% (HV 20d: 21.8%). Max pain ranged from $21.50 to $22.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.67.

Notable Days

  • 2018-04-11: Highest Volume — 187,689 contracts
  • 2018-04-11: Largest IV spike — 6.8% change
  • 2018-04-03: Highest IV Rank — 40.7%
  • 2018-04-11: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.50$21.91$23.02$22.24$22.25
Max Pain$21.93$21.50$22.00$21.50$22.00
ATM IV23.1%20.1%25.6%25.5%20.8%
Expected Move6.6%5.7%7.3%7.3%5.9%
HV 20d21.8%17.1%24.3%23.4%18.3%
HV 60d26.6%25.4%27.1%27.0%25.7%
IV Rank27.5%12.1%40.7%40.4%16.8%
IV Percentile34.1%8.3%57.5%55.2%17.5%
Term Structure-0.0%-0.4%0.6%-0.1%0.1%
VWIV23.4%19.9%26.0%25.6%20.8%
Skew 25d0.0%-0.3%0.4%-0.0%0.1%
Skew 10d-0.2%-1.0%0.5%-0.2%-1.0%
Call IV 25d23.7%20.5%26.4%26.3%21.3%
Put IV 25d23.7%20.7%26.4%26.2%21.4%
Bid-Ask Spread %2.241.733.072.442.07
Gamma HHI0.140.110.280.110.13
Net GEX23.7M6.7M58.1M13.3M7.9M
Net DEX-244.4M-526.5M-5.5M-154.4M-82.6M
Net VEX-6.5M-7.0M-6.1M-7.0M-6.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.251.190.461.19
Total Volume60,63632,759187,68958,93164,145
Total OI1,848,978.191,738,6501,987,3881,787,4631,784,758

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-04-02$22.24$21.5025.5%7.3%23.4%40.4%25.6%-0.0%-0.1%13.3M-154.4M-7.0M0.462.4440,27618,655925,633861,830
2018-04-03$21.93$21.5025.6%7.1%24.0%40.7%26.0%-0.1%-0.2%7.8M-36.4M-6.8M0.761.7931,20923,587933,455864,199
2018-04-04$21.91$21.5025.1%7.0%22.7%38.0%24.8%0.0%-0.1%6.9M-5.5M-6.7M0.972.0930,05829,077944,737873,582
2018-04-05$21.92$22.0023.8%6.9%21.6%30.6%24.1%0.4%0.1%6.7M-12.2M-6.7M1.182.0125,97530,737960,464884,135
2018-04-06$22.14$22.0024.0%6.9%21.8%32.1%24.2%0.1%0.2%12.4M-111.8M-6.7M0.612.1826,88716,379965,577878,200
2018-04-09$22.00$22.0023.6%6.8%21.9%29.8%23.8%-0.3%0.0%8.5M-53.8M-6.4M0.502.1227,11413,439950,312869,701
2018-04-10$22.29$22.0023.6%6.7%22.3%29.7%24.1%-0.2%-0.4%19.2M-174.7M-6.5M0.561.8528,53915,963960,823872,648
2018-04-11$22.79$22.0025.2%7.3%23.4%38.5%25.9%-0.1%0.2%32.4M-376.4M-6.6M0.251.97150,70136,988966,277872,991
2018-04-12$22.53$22.0024.0%7.0%24.0%32.0%25.4%0.3%0.5%32.2M-301.7M-6.8M0.582.3330,81617,7391,035,241885,768
2018-04-13$22.96$22.0023.9%6.9%24.1%31.3%24.2%0.1%-0.1%55.7M-495.2M-6.8M0.403.0742,53417,0881,038,748890,936
2018-04-16$22.81$22.0023.4%6.7%24.3%28.3%24.0%0.1%-0.2%41.0M-421.4M-6.6M0.642.8719,92212,8371,025,651886,950
2018-04-17$22.95$22.0022.2%6.4%24.3%21.8%22.5%-0.2%-0.0%50.3M-488.8M-6.5M0.851.9026,59122,7081,031,930886,923
2018-04-18$23.00$22.0023.0%6.6%23.9%27.4%23.6%-0.0%0.1%56.6M-508.9M-6.6M0.382.7754,47520,5481,042,357897,574
2018-04-19$23.02$22.0022.2%6.4%21.7%22.7%22.5%0.1%0.6%58.1M-526.5M-6.6M0.452.4939,14317,5221,066,521905,951
2018-04-20$22.70$22.0021.6%6.2%21.6%19.3%22.4%0.3%-0.3%13.9M-348.4M-6.5M1.052.1632,58934,3061,077,413909,975
2018-04-23$22.45$22.0021.1%6.0%20.0%16.5%21.7%-0.1%-0.1%10.5M-142.8M-6.3M0.961.9637,36935,829903,961834,689
2018-04-24$22.69$22.0021.6%6.2%19.9%21.9%21.8%0.3%-0.0%15.4M-223.6M-6.3M0.323.0237,09211,833908,583841,215
2018-04-25$22.53$22.0022.4%6.6%19.2%27.0%23.5%0.0%-0.4%13.9M-189.9M-6.3M0.592.2136,97221,683928,006851,464
2018-04-26$22.61$22.0021.4%6.1%17.6%20.3%21.3%-0.1%-0.3%16.4M-214.5M-6.2M0.491.9231,78115,543935,374862,115
2018-04-27$22.72$22.0020.1%5.7%17.1%12.1%19.9%0.2%-0.4%18.8M-262.5M-6.1M0.961.7323,82422,883941,640870,235
2018-04-30$22.25$22.0020.8%5.9%18.3%16.8%20.8%0.1%0.1%7.9M-82.6M-6.1M1.192.0729,32034,825920,672864,086