GDX Options History — February 2019

In February 2019, GDX traded between $21.98 and $23.30. ATM implied volatility averaged 23.3%, placing in the 34.3% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 2.5% (HV 20d: 20.8%). Max pain ranged from $21.00 to $21.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 0.66.

Notable Days

  • 2019-02-19: Highest Volume — 146,868 contracts
  • 2019-02-19: Largest IV spike — 10.5% change
  • 2019-02-20: Highest IV Rank — 42.6%
  • 2019-02-04: Largest Expected Move — 7.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.49$21.98$23.30$22.51$22.30
Max Pain$21.03$21.00$21.50$21.00$21.50
ATM IV23.3%21.8%24.7%24.2%22.5%
Expected Move6.6%6.2%7.0%7.0%6.3%
HV 20d20.8%19.8%22.2%20.8%19.8%
HV 60d25.3%24.3%26.0%25.9%24.5%
IV Rank34.3%25.2%42.6%39.7%29.4%
IV Percentile39.9%31.7%54.8%46.8%34.9%
Term Structure0.2%-0.5%0.7%-0.0%0.6%
VWIV23.6%22.1%24.7%24.6%22.5%
Skew 25d-0.0%-0.7%0.7%-0.3%0.7%
Skew 10d-0.1%-1.7%1.4%-1.1%1.4%
Call IV 25d23.8%22.0%25.4%24.8%22.6%
Put IV 25d23.8%22.3%25.1%24.5%23.3%
Bid-Ask Spread %1.791.342.812.331.54
Gamma HHI0.110.100.120.110.11
Net GEX23.2M16.4M29.0M28.4M16.4M
Net DEX-685.1M-910.5M-534.1M-750.1M-534.1M
Net VEX-6.1M-6.3M-5.9M-6.0M-6.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.660.231.250.690.56
Total Volume64,209.84226,511146,86864,96837,218
Total OI1,818,809.2631,676,3561,925,0151,781,0731,848,534

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-02-01$22.51$21.0024.2%7.0%20.8%39.7%24.6%-0.3%-0.0%28.4M-750.1M-6.0M0.692.3338,49326,475930,454850,619
2019-02-04$22.46$21.0024.3%7.0%20.7%40.3%24.7%-0.1%0.1%20.8M-702.0M-5.9M0.741.9034,17125,222916,868840,598
2019-02-05$22.53$21.0023.4%6.9%19.9%35.2%24.7%-0.1%0.5%23.6M-740.9M-6.0M0.722.0326,53919,109935,210864,120
2019-02-06$22.22$21.0023.7%6.9%20.8%36.4%24.5%-0.6%0.4%20.9M-642.0M-6.2M1.251.6826,44032,942951,413870,803
2019-02-07$22.03$21.0023.4%6.8%20.8%35.2%24.3%-0.4%0.5%16.6M-547.8M-6.2M0.751.7027,48520,692968,769887,212
2019-02-08$22.38$21.0023.1%6.7%20.8%32.9%23.9%-0.5%0.5%24.9M-697.3M-6.0M0.231.6663,27614,639973,124885,005
2019-02-11$22.12$21.0023.4%6.8%21.4%35.0%24.3%-0.7%0.1%23.9M-613.7M-6.1M0.471.5617,9918,520981,898879,690
2019-02-12$22.04$21.0023.3%6.7%21.4%34.0%23.5%-0.1%-0.5%21.5M-564.4M-6.1M0.581.6741,33023,800983,178882,967
2019-02-13$21.98$21.0021.9%6.3%20.3%25.7%22.2%-0.2%0.7%22.2M-554.5M-6.1M0.491.5338,97419,237995,487894,709
2019-02-14$22.12$21.0022.1%6.3%20.3%26.7%22.2%0.2%0.1%25.6M-611.6M-6.1M0.951.6626,68025,4051,015,631897,484
2019-02-15$22.39$21.0021.8%6.2%20.5%25.2%22.1%0.3%0.5%23.7M-725.0M-6.1M0.501.8347,29023,5231,020,264904,751
2019-02-19$23.13$21.0024.1%6.8%21.1%39.1%24.3%0.4%-0.3%27.4M-856.6M-6.1M0.621.8090,68856,180914,431761,925
2019-02-20$23.30$21.0024.7%6.8%21.1%42.6%24.3%-0.3%-0.1%29.0M-910.5M-6.2M0.442.8185,48037,378942,499787,487
2019-02-21$22.99$21.0024.2%6.7%22.2%39.6%23.8%0.3%-0.2%25.8M-796.7M-6.3M0.362.1745,55816,235972,103808,461
2019-02-22$23.06$21.0023.2%6.4%22.1%33.7%22.5%0.2%0.1%25.3M-836.5M-6.3M0.531.6331,83116,981982,613815,127
2019-02-25$22.80$21.0023.1%6.6%20.9%33.3%23.4%0.0%0.3%24.2M-719.7M-6.2M1.071.6621,40322,919968,402808,916
2019-02-26$22.69$21.0023.3%6.6%20.9%34.5%23.1%0.6%0.3%22.1M-678.3M-6.2M0.971.5526,91426,113976,511823,891
2019-02-27$22.31$21.0023.0%6.6%20.3%32.7%23.6%0.7%0.4%17.6M-534.7M-6.2M0.701.3445,19531,661983,699832,523
2019-02-28$22.30$21.5022.5%6.3%19.8%29.4%22.5%0.7%0.6%16.4M-534.1M-6.2M0.561.5423,78813,4301,004,822843,712