GDX Options History — December 2018

In December 2018, GDX traded between $19.43 and $21.07. ATM implied volatility averaged 28.6%, placing in the 67.5% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 1.6% (HV 20d: 27.0%). Max pain ranged from $20.00 to $21.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.54.

Notable Days

  • 2018-12-19: Highest Volume — 269,158 contracts
  • 2018-12-20: Largest IV spike — 9.6% change
  • 2018-12-24: Highest IV Rank — 100.0%
  • 2018-12-27: Largest Expected Move — 10.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$20.34$19.43$21.07$19.43$21.07
Max Pain$20.85$20.00$21.00$20.00$21.00
ATM IV28.6%24.1%34.1%24.1%31.3%
Expected Move8.5%7.3%10.1%7.7%9.2%
HV 20d27.0%21.9%32.1%24.8%31.4%
HV 60d28.6%27.0%31.0%28.1%30.8%
IV Rank67.5%39.8%100.0%39.8%83.0%
IV Percentile84.8%56.7%100.0%56.7%97.2%
Term Structure-0.2%-1.7%0.8%0.6%0.0%
VWIV30.2%25.6%36.6%27.5%32.9%
Skew 25d-0.7%-2.2%0.6%0.1%-0.8%
Skew 10d-1.6%-4.9%1.2%0.3%-1.7%
Call IV 25d29.6%24.5%35.2%24.5%32.5%
Put IV 25d28.9%24.6%34.0%24.6%31.7%
Bid-Ask Spread %3.152.188.102.612.20
Gamma HHI0.100.090.160.110.10
Net GEX2.5M-18.0M20.0M-18.0M5.8M
Net DEX-49.9M-513.7M386.7M386.7M-292.0M
Net VEX-6.2M-6.4M-6.0M-6.3M-6.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.540.211.490.490.25
Total Volume83,090.7528,385269,15847,88894,645
Total OI2,516,658.22,164,7122,714,6812,547,8442,207,801

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-12-03$19.43$20.0024.1%7.7%24.8%39.8%27.5%0.1%0.6%-18.0M386.7M-6.3M0.492.6132,21415,6741,321,7161,226,128
2018-12-04$19.63$20.0025.1%8.3%25.1%46.2%29.2%-0.2%-0.2%-12.5M274.0M-6.3M0.372.7132,75311,9691,325,3071,215,659
2018-12-05$19.59$20.0025.6%8.6%24.9%49.2%30.3%0.5%-0.5%-13.3M291.9M-6.1M0.378.1033,37012,2551,325,3071,215,659
2018-12-06$19.70$21.0025.8%7.4%24.9%50.4%26.0%0.6%0.3%-10.7M255.4M-6.2M0.293.0141,39411,8591,328,9151,214,661
2018-12-07$19.92$21.0025.4%7.4%25.1%47.9%26.7%0.4%0.3%-4.6M120.7M-6.2M0.373.0220,7167,6691,340,4931,220,634
2018-12-10$20.16$21.0027.2%7.7%24.8%59.2%27.3%-0.5%-0.4%-459.8K-10.3M-6.4M0.452.1853,02724,0371,376,1891,225,125
2018-12-11$20.07$21.0026.8%7.8%23.3%56.9%27.3%-0.7%0.5%-1.4M31.4M-6.4M0.822.5332,32726,5101,393,1461,232,690
2018-12-12$20.44$21.0026.4%7.6%23.3%53.9%27.1%-0.5%0.2%7.0M-156.6M-6.3M1.492.5426,73339,7901,405,5621,248,817
2018-12-13$20.45$21.0025.7%7.6%21.9%49.6%26.7%-0.2%0.8%8.5M-165.3M-6.2M1.003.0420,36320,4411,404,7511,252,208
2018-12-14$20.16$21.0025.2%7.3%22.7%47.0%25.6%-0.1%0.4%2.1M-361.7K-6.1M0.932.5322,22720,7731,410,3481,257,589
2018-12-17$20.60$21.0027.4%7.9%23.1%60.6%27.5%-1.1%-0.7%13.9M-239.2M-6.1M0.472.3339,85018,7061,400,3531,253,683
2018-12-18$21.06$21.0029.7%8.5%23.8%74.7%30.5%-1.4%-0.7%19.3M-513.7M-6.2M0.382.8795,47736,7321,407,4281,256,918
2018-12-19$20.02$21.0029.4%8.4%30.8%73.0%31.4%-1.1%-0.5%4.8M80.2M-6.0M0.413.10190,30778,8511,428,1091,268,765
2018-12-20$20.71$21.0032.3%9.3%31.9%90.5%33.0%-1.9%-1.7%20.0M-235.1M-6.4M0.484.1099,22147,3481,390,5051,289,509
2018-12-21$20.44$21.0031.7%9.2%31.0%86.8%32.7%-1.1%-0.8%17.2M-65.7M-6.4M0.444.1581,73135,6421,418,7411,295,940
2018-12-24$21.02$21.0034.1%10.1%32.0%100.0%36.1%-1.4%-0.2%6.7M-276.7M-6.4M0.483.2657,04327,5451,169,764994,948
2018-12-26$20.62$21.0033.6%9.9%32.1%96.7%36.0%-1.4%-0.4%730.5K-100.3M-6.3M0.213.4596,97320,3511,180,1361,018,029
2018-12-27$20.91$21.0033.6%10.1%31.4%96.9%36.6%-1.2%-0.4%5.7M-232.2M-6.3M0.552.7642,40423,4711,173,6341,024,298
2018-12-28$20.71$21.0032.2%9.6%31.5%88.4%34.6%-2.2%0.0%140.7K-150.6M-6.2M0.452.5847,76021,6571,181,6471,032,052
2018-12-31$21.07$21.0031.3%9.2%31.4%83.0%32.9%-0.8%0.0%5.8M-292.0M-6.0M0.252.2075,45919,1861,185,0401,022,761