GDX Options History — November 2018

In November 2018, GDX traded between $18.43 and $19.82. ATM implied volatility averaged 26.3%, placing in the 53.8% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded below realized volatility by 2.8% (HV 20d: 29.1%). Max pain ranged from $19.00 to $20.00. Net GEX was positive for 6 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.34.

Notable Days

  • 2018-11-27: Highest Volume — 136,260 contracts
  • 2018-11-07: Largest IV drop — 7.1% change
  • 2018-11-20: Highest IV Rank — 62.2%
  • 2018-11-01: Largest Expected Move — 8.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.23$18.43$19.82$19.57$19.04
Max Pain$19.90$19.00$20.00$19.00$20.00
ATM IV26.3%24.1%27.7%27.6%26.6%
Expected Move7.9%7.4%8.4%8.4%8.3%
HV 20d29.1%23.6%36.6%36.6%23.6%
HV 60d28.9%27.3%31.9%31.9%27.9%
IV Rank53.8%40.1%62.2%61.9%55.3%
IV Percentile80.2%63.9%90.9%90.9%81.0%
Term Structure-0.1%-1.6%1.3%0.1%-0.3%
VWIV27.7%25.9%29.9%29.9%29.0%
Skew 25d0.1%-1.1%1.2%-0.4%1.0%
Skew 10d-0.3%-2.2%1.9%-1.0%1.1%
Call IV 25d26.8%24.5%28.4%28.4%26.0%
Put IV 25d26.9%24.2%28.4%28.1%27.0%
Bid-Ask Spread %2.922.174.342.672.20
Gamma HHI0.120.090.270.090.12
Net GEX-8.9M-26.7M20.5M7.4M-19.9M
Net DEX392.6M84.7M794.3M93.5M563.0M
Net VEX-6.5M-7.3M-5.8M-7.3M-6.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.340.622.920.661.31
Total Volume82,332.09550,545136,26082,72297,958
Total OI2,554,926.7622,344,2102,690,5472,588,8802,530,095

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-11-01$19.57$19.0027.6%8.4%36.6%61.9%29.9%-0.4%0.1%7.4M93.5M-7.3M0.662.6749,73332,9891,434,3361,154,544
2018-11-02$19.58$19.0027.2%8.0%36.5%58.9%28.3%0.2%0.3%10.3M84.7M-7.3M1.612.6224,93840,2511,444,2041,159,533
2018-11-05$19.56$20.0027.3%8.2%36.5%59.4%29.0%-0.5%0.5%7.8M106.6M-7.2M1.732.7119,24333,3801,425,5791,167,818
2018-11-06$19.40$20.0026.4%8.0%36.2%54.5%28.3%-0.4%0.4%3.8M217.5M-7.0M0.772.9635,11926,8851,430,0281,173,917
2018-11-07$19.31$20.0024.6%7.4%36.1%42.8%25.9%-1.1%0.6%584.7K298.8M-6.7M0.862.8535,19130,3921,438,3841,180,848
2018-11-08$19.23$20.0024.1%7.4%25.6%40.1%25.9%-0.4%0.6%-1.3M363.1M-6.6M1.693.3627,40546,3651,451,0711,190,402
2018-11-09$19.00$20.0024.4%7.4%25.6%41.7%26.2%0.3%0.5%-19.2M516.1M-6.4M1.332.8541,57655,1051,457,6591,201,401
2018-11-12$18.61$20.0025.4%7.8%25.2%47.8%27.5%-0.6%1.3%-19.8M681.6M-6.0M1.942.7824,24846,9961,447,1981,198,875
2018-11-13$18.43$20.0025.6%7.7%25.3%49.2%26.2%-0.9%-0.3%-26.7M794.3M-5.8M1.393.3526,93837,3961,448,1141,206,869
2018-11-14$18.93$20.0027.1%7.9%27.5%58.6%27.8%-0.0%0.1%-15.9M534.3M-6.3M1.104.3449,16254,1081,457,9051,209,403
2018-11-15$19.10$20.0027.4%8.0%27.7%60.4%28.1%0.4%0.3%-10.8M424.7M-6.4M2.922.9926,29876,6651,465,5391,212,771
2018-11-16$19.45$20.0026.5%7.7%28.6%54.5%27.4%-0.5%0.3%20.5M232.6M-6.5M1.443.2052,89076,0311,466,2271,224,320
2018-11-19$19.34$20.0026.5%7.7%28.6%55.0%26.8%0.1%-1.0%-11.7M367.6M-6.4M1.442.8133,06047,5831,235,1481,109,062
2018-11-20$19.35$20.0027.7%8.0%28.4%62.2%27.8%0.6%-1.0%-14.0M382.1M-6.6M1.032.1727,05027,8901,249,3621,144,790
2018-11-21$19.82$20.0027.3%7.8%29.6%59.9%27.6%0.4%-1.6%-5.2M164.4M-6.7M0.682.7180,02854,4611,254,2191,135,485
2018-11-23$19.36$20.0027.3%8.0%25.8%59.8%28.0%0.6%-1.4%-15.3M405.7M-6.5M1.493.9222,30533,2841,292,6631,166,103
2018-11-26$19.24$20.0026.3%8.0%25.8%53.7%27.8%0.5%-0.6%-18.5M479.6M-6.2M0.962.6927,49226,4611,265,3141,161,382
2018-11-27$18.88$20.0026.1%8.0%26.7%52.6%28.3%0.7%-0.3%-23.2M634.9M-6.1M1.972.7145,90690,3541,275,2811,168,043
2018-11-28$19.36$20.0025.8%8.0%28.2%50.7%28.1%0.4%-0.0%-17.6M425.2M-6.4M0.622.5458,94236,3511,290,2661,206,722
2018-11-29$19.24$20.0025.8%8.0%27.5%50.7%28.0%1.2%-0.1%-17.8M474.3M-6.3M1.272.9122,24628,2991,315,0051,207,577
2018-11-30$19.04$20.0026.6%8.3%23.6%55.3%29.0%1.0%-0.3%-19.9M563.0M-6.2M1.312.2042,44355,5151,318,2961,211,799