GDX Options History — March 2019

In March 2019, GDX traded between $21.53 and $23.32. ATM implied volatility averaged 22.8%, placing in the 31.1% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded below realized volatility by 0.3% (HV 20d: 23.1%). 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 10 of 21 days. Put/call ratio averaged 0.57.

Notable Days

  • 2019-03-21: Highest Volume — 295,498 contracts
  • 2019-03-15: Largest IV drop — 5.5% change
  • 2019-03-04: Highest IV Rank — 38.2%
  • 2019-03-07: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.40$21.53$23.32$21.72$22.44
Max Pain$21.88$21.50$22.00$21.50$22.00
ATM IV22.8%21.7%23.9%23.5%21.9%
Expected Move6.7%6.2%7.1%6.9%6.6%
HV 20d23.1%20.7%25.5%20.7%22.8%
HV 60d23.9%21.2%26.0%24.9%21.7%
IV Rank31.1%24.4%38.2%35.4%26.0%
IV Percentile38.3%31.0%47.6%43.3%33.7%
Term Structure0.1%-1.0%0.8%-0.5%0.7%
VWIV23.6%21.7%25.4%24.0%23.2%
Skew 25d0.0%-0.9%1.0%0.3%-0.1%
Skew 10d-0.6%-8.4%1.9%-0.4%-0.4%
Call IV 25d23.2%22.2%24.1%23.8%22.2%
Put IV 25d23.3%21.8%24.9%24.1%22.1%
Bid-Ask Spread %1.851.143.141.601.91
Gamma HHI0.130.100.190.100.15
Net GEX27.9M6.6M58.1M11.1M42.6M
Net DEX-603.4M-994.2M-244.3M-304.4M-631.4M
Net VEX-6.4M-7.5M-5.9M-6.2M-7.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.121.100.920.39
Total Volume79,590.47623,400295,49885,87564,685
Total OI1,902,599.191,633,3142,098,7381,852,7592,098,738

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-03-01$21.72$21.5023.5%6.9%20.7%35.4%24.0%0.3%-0.5%11.1M-304.4M-6.2M0.921.6044,66041,2151,007,532845,227
2019-03-04$21.80$22.0023.9%7.0%20.8%38.2%25.4%1.0%-0.1%8.9M-326.2M-6.2M1.101.6131,51234,7401,009,303859,538
2019-03-05$21.91$21.5023.4%6.7%20.9%35.0%23.6%0.2%0.2%10.3M-393.4M-6.2M0.621.2214,4028,9981,019,749874,288
2019-03-06$21.53$21.5023.2%6.8%21.6%33.5%24.2%0.1%0.4%6.6M-244.3M-6.1M0.781.3632,30425,0611,023,746871,841
2019-03-07$21.78$21.5023.3%7.1%21.7%34.1%24.7%-0.1%0.3%10.0M-356.7M-6.2M0.321.1451,62916,5831,040,926876,855
2019-03-08$22.37$21.5023.7%6.7%23.6%36.7%23.9%0.4%0.4%19.5M-646.9M-6.2M0.541.2062,61133,8091,067,493877,717
2019-03-11$22.24$22.0023.4%6.7%23.0%34.6%23.5%-0.4%-0.1%19.2M-592.4M-6.1M0.402.0519,3527,6791,068,109877,571
2019-03-12$22.70$22.0022.9%6.7%23.7%31.9%23.7%-0.1%-0.0%28.4M-798.7M-6.2M0.702.1325,43117,8111,073,758881,538
2019-03-13$22.85$22.0022.7%6.6%23.7%30.5%23.6%-0.4%-0.2%33.6M-880.9M-6.1M0.442.1152,04323,1051,086,162900,887
2019-03-14$22.29$22.0022.9%6.5%25.5%32.1%22.9%-0.4%-0.1%11.9M-585.3M-6.1M0.731.5451,94037,7181,093,525913,274
2019-03-15$22.26$22.0021.7%6.4%25.4%24.4%22.6%-0.4%0.3%21.8M-587.5M-6.1M0.741.8529,48721,7451,105,315913,326
2019-03-18$22.09$22.0021.7%6.2%25.2%24.6%21.8%0.0%-0.1%20.6M-394.9M-5.9M0.801.7516,57813,233930,300703,014
2019-03-19$22.14$22.0022.1%6.2%22.0%27.1%21.7%0.1%-1.0%21.9M-414.1M-5.9M0.712.0822,02315,673936,647710,616
2019-03-20$22.62$22.0021.7%6.3%23.3%24.5%23.0%-0.9%-0.1%31.7M-596.5M-6.0M0.473.1483,96439,350947,007719,087
2019-03-21$22.71$22.0022.5%6.7%23.0%29.6%24.1%-0.2%-0.2%33.3M-619.2M-6.2M0.121.89263,67031,828969,522735,496
2019-03-22$22.82$22.0023.1%6.8%23.0%32.8%24.1%0.3%-0.2%43.9M-786.2M-6.9M0.442.1346,31320,2151,189,948751,063
2019-03-25$23.22$22.0023.3%6.9%23.5%34.1%24.3%-0.2%0.4%51.6M-950.9M-7.0M0.321.7454,15717,4241,182,293732,583
2019-03-26$23.32$22.0022.2%6.6%23.4%27.7%23.9%0.5%0.7%58.1M-994.2M-6.9M0.181.89132,18923,6551,200,118739,736
2019-03-27$23.05$22.0022.3%6.7%22.9%28.1%23.6%0.2%0.8%56.9M-920.5M-7.5M0.522.0625,56413,3971,301,945752,965
2019-03-28$22.47$22.0022.9%6.9%24.9%31.7%24.1%0.5%0.6%43.8M-647.0M-7.1M0.682.5361,54742,1001,311,467754,358
2019-03-29$22.44$22.0021.9%6.6%22.8%26.0%23.2%-0.1%0.7%42.6M-631.4M-7.1M0.391.9146,48418,2011,330,364768,374