GDX Options History — October 2018

In October 2018, GDX traded between $18.39 and $20.08. ATM implied volatility averaged 27.1%, placing in the 58.4% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded below realized volatility by 1.3% (HV 20d: 28.4%). Max pain ranged from $18.50 to $19.00. Net GEX was positive for 12 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 0.67.

Notable Days

2018-10-11: Highest Volume — 409,316 contracts
2018-10-11: Largest IV spike — 8.2% change
2018-10-11: Highest IV Rank — 77.0%
2018-10-26: Largest Expected Move — 9.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.30	$18.39	$20.08	$18.53	$18.80
Max Pain	$18.96	$18.50	$19.00	$19.00	$19.00
ATM IV	27.1%	24.1%	30.1%	24.2%	27.8%
Expected Move	8.0%	7.1%	9.0%	7.1%	8.7%
HV 20d	28.4%	19.2%	34.9%	22.4%	33.7%
HV 60d	28.2%	24.7%	30.7%	24.7%	30.7%
IV Rank	58.4%	39.9%	77.0%	40.7%	62.7%
IV Percentile	88.9%	73.4%	99.2%	75.4%	91.3%
Term Structure	-0.2%	-1.3%	0.7%	0.1%	0.3%
VWIV	28.3%	25.2%	32.4%	25.2%	31.0%
Skew 25d	0.0%	-0.9%	1.6%	0.3%	-0.1%
Skew 10d	-0.4%	-1.8%	1.1%	0.7%	-1.2%
Call IV 25d	27.8%	24.6%	30.4%	24.7%	28.9%
Put IV 25d	27.8%	24.7%	31.7%	24.9%	28.7%
Bid-Ask Spread %	2.34	1.85	3.48	1.94	2.80
Gamma HHI	0.13	0.09	0.39	0.14	0.12
Net GEX	5.0M	-11.2M	68.8M	-9.7M	-6.1M
Net DEX	201.9M	-275.1M	661.9M	600.9M	485.3M
Net VEX	-7.0M	-7.7M	-6.3M	-6.3M	-6.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.28	1.08	0.65	0.47
Total Volume	115,293.043	50,072	409,316	58,901	80,796
Total OI	2,570,756.739	2,373,600	2,757,089	2,483,098	2,579,298

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
2018-10-01	$18.53	$19.00	24.2%	7.1%	22.4%	40.7%	25.2%	0.3%	0.1%	-9.7M	600.9M	-6.3M	0.65	1.94	35,691	23,210	1,305,448	1,177,650
2018-10-02	$19.04	$19.00	24.1%	7.3%	21.6%	39.9%	25.6%	0.6%	0.7%	6.4M	344.6M	-6.7M	0.79	2.30	60,119	47,458	1,320,828	1,182,525
2018-10-03	$18.77	$19.00	24.2%	7.3%	22.2%	40.6%	25.4%	-0.4%	0.1%	134.8K	465.4M	-6.6M	0.84	1.93	27,283	22,789	1,343,656	1,191,304
2018-10-04	$18.72	$18.50	24.9%	7.3%	22.2%	44.6%	25.5%	0.0%	0.4%	-3.9M	506.2M	-6.5M	0.84	2.11	36,271	30,408	1,349,660	1,190,412
2018-10-05	$18.67	$18.50	24.2%	7.2%	22.2%	40.3%	25.3%	0.5%	0.5%	-8.6M	544.5M	-6.4M	0.60	1.86	48,095	28,981	1,375,826	1,200,674
2018-10-08	$18.66	$19.00	25.7%	7.4%	21.1%	49.6%	26.1%	0.7%	0.2%	-7.9M	563.1M	-6.6M	0.94	2.01	42,083	39,713	1,273,991	1,197,474
2018-10-09	$18.39	$19.00	25.8%	7.5%	22.0%	50.2%	26.8%	0.3%	0.5%	-11.2M	661.9M	-6.3M	1.02	1.85	25,976	26,559	1,288,765	1,200,739
2018-10-10	$18.62	$19.00	27.8%	7.8%	19.2%	63.0%	27.6%	0.2%	-0.4%	-6.6M	552.3M	-6.5M	0.28	2.26	96,311	26,772	1,296,485	1,204,427
2018-10-11	$19.97	$19.00	30.1%	8.5%	30.7%	77.0%	29.7%	1.6%	-0.6%	6.6M	-179.8M	-7.3M	0.30	3.02	314,991	94,325	1,339,543	1,210,187
2018-10-12	$19.71	$19.00	29.5%	8.3%	31.3%	73.3%	29.5%	1.1%	-0.8%	11.8M	-87.5M	-7.5M	0.56	2.16	98,775	55,479	1,430,027	1,246,294
2018-10-15	$20.08	$19.00	29.5%	8.4%	31.3%	73.6%	29.6%	0.3%	-1.2%	15.7M	-275.1M	-7.5M	0.44	2.46	122,872	54,447	1,421,346	1,260,836
2018-10-16	$19.97	$19.00	27.6%	7.9%	31.5%	61.3%	27.7%	-0.1%	-0.6%	14.9M	-170.3M	-7.4M	0.77	2.09	46,208	35,518	1,422,768	1,275,615
2018-10-17	$19.90	$19.00	27.9%	8.0%	31.1%	63.2%	28.1%	-0.2%	-0.9%	17.3M	-155.3M	-7.3M	1.08	2.10	42,362	45,619	1,436,875	1,283,074
2018-10-18	$20.01	$19.00	27.6%	7.9%	31.0%	61.3%	28.0%	-0.9%	-1.3%	21.9M	-225.9M	-7.4M	0.64	2.23	75,449	48,396	1,455,573	1,288,687
2018-10-19	$20.04	$19.00	25.9%	7.5%	30.5%	51.1%	27.0%	-0.4%	-0.7%	68.8M	-244.6M	-7.4M	0.67	2.39	76,418	51,479	1,463,368	1,293,721
2018-10-22	$19.89	$19.00	25.9%	7.8%	30.7%	51.3%	27.3%	-0.6%	0.3%	4.5M	-2.9M	-7.2M	0.37	2.08	117,714	44,082	1,261,285	1,112,315
2018-10-23	$20.05	$19.00	27.4%	8.2%	30.8%	60.5%	28.8%	-0.7%	-0.1%	8.8M	-107.6M	-7.7M	0.69	2.58	77,700	53,408	1,338,516	1,117,382
2018-10-24	$19.84	$19.00	27.5%	8.4%	30.3%	61.1%	29.5%	-0.4%	-0.4%	5.9M	-9.2M	-7.6M	1.02	2.63	28,632	29,144	1,369,189	1,134,747
2018-10-25	$18.95	$19.00	28.6%	8.8%	34.9%	67.7%	32.4%	-0.9%	-0.3%	-7.3M	401.9M	-7.2M	0.39	2.36	148,764	57,960	1,397,737	1,139,109
2018-10-26	$19.09	$19.00	29.5%	9.0%	34.9%	73.7%	32.0%	0.0%	0.0%	-2.4M	328.3M	-7.3M	0.63	3.48	65,063	40,857	1,463,782	1,153,508
2018-10-29	$19.07	$19.00	28.9%	8.9%	34.9%	69.9%	31.9%	-0.3%	-0.5%	-2.2M	331.9M	-7.2M	0.72	2.63	44,155	31,786	1,417,562	1,148,469
2018-10-30	$19.13	$19.00	28.5%	8.7%	33.5%	67.0%	30.6%	0.1%	0.3%	-937.4K	315.4M	-7.3M	0.67	2.55	30,821	20,801	1,418,098	1,148,630
2018-10-31	$18.80	$19.00	27.8%	8.7%	33.7%	62.7%	31.0%	-0.1%	0.3%	-6.1M	485.3M	-6.9M	0.47	2.80	54,979	25,817	1,428,585	1,150,713