GDX Options History — April 2019

In April 2019, GDX traded between $20.80 and $22.79. ATM implied volatility averaged 22.1%, placing in the 26.8% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 1.0% (HV 20d: 21.0%). Max pain ranged from $22.00 to $22.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.60.

Notable Days

  • 2019-04-29: Highest Volume — 172,807 contracts
  • 2019-04-05: Largest IV drop — 4.6% change
  • 2019-04-24: Highest IV Rank — 34.7%
  • 2019-04-29: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.77$20.80$22.79$21.93$20.90
Max Pain$22.00$22.00$22.00$22.00$22.00
ATM IV22.1%20.7%23.4%22.8%22.4%
Expected Move6.4%6.0%6.9%6.6%6.6%
HV 20d21.0%18.4%24.4%24.4%20.2%
HV 60d21.8%21.0%22.4%21.9%21.6%
IV Rank26.8%18.5%34.7%31.1%29.1%
IV Percentile36.7%26.6%50.4%38.9%38.9%
Term Structure-0.1%-0.7%0.4%0.1%0.1%
VWIV22.7%21.1%24.6%23.6%23.2%
Skew 25d0.5%-0.4%1.1%0.7%0.5%
Skew 10d1.0%-0.4%2.6%0.5%1.3%
Call IV 25d22.3%20.6%23.7%23.0%22.7%
Put IV 25d22.8%20.9%24.4%23.7%23.2%
Bid-Ask Spread %1.931.462.511.791.84
Gamma HHI0.120.080.180.130.08
Net GEX25.8M-1.6M61.0M29.3M3.6M
Net DEX-332.6M-816.6M57.5M-390.5M634.0K
Net VEX-6.3M-7.1M-5.5M-6.7M-5.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.600.201.470.350.66
Total Volume62,709.90533,852172,80798,35140,194
Total OI2,121,678.7621,990,3752,211,8602,087,8962,042,337

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-04-01$21.93$22.0022.8%6.6%24.4%31.1%23.6%0.7%0.1%29.3M-390.5M-6.7M0.351.7972,76325,5881,323,946763,950
2019-04-02$22.07$22.0022.0%6.5%24.4%26.6%22.9%0.1%0.1%32.3M-461.1M-6.8M0.771.8619,17414,6781,333,560778,529
2019-04-03$22.11$22.0021.9%6.4%23.5%25.8%22.6%0.3%-0.2%34.2M-470.2M-6.9M0.411.9145,16518,6811,345,424784,103
2019-04-04$22.52$22.0022.5%6.5%24.0%29.2%23.0%0.4%-0.1%51.4M-683.4M-7.1M0.522.4451,97126,8171,373,529785,182
2019-04-05$22.43$22.0021.4%6.3%22.2%22.9%22.3%-0.4%0.3%61.0M-644.0M-7.0M1.081.5329,87432,1961,391,444792,012
2019-04-08$22.70$22.0021.9%6.4%22.4%25.8%22.4%0.6%0.2%55.3M-770.1M-7.0M0.421.9824,92210,5131,364,516788,231
2019-04-09$22.79$22.0021.3%6.2%21.3%22.2%22.3%0.2%0.4%60.2M-816.6M-7.1M0.361.6930,48010,9381,371,768790,165
2019-04-10$22.62$22.0021.2%6.1%21.3%21.4%21.7%0.6%0.4%53.1M-704.0M-7.0M0.601.6723,23013,8881,375,593798,633
2019-04-11$22.24$22.0021.3%6.2%20.3%22.4%21.7%0.7%0.0%36.6M-493.7M-6.8M0.372.3037,15413,6551,379,407802,789
2019-04-12$22.22$22.0020.7%6.0%20.3%18.5%21.1%0.3%0.4%32.1M-477.4M-6.6M0.202.5146,4609,4511,385,091806,387
2019-04-15$22.22$22.0021.3%6.1%20.1%22.1%21.2%0.7%-0.0%31.5M-471.7M-6.4M0.832.4720,27016,7761,370,597802,775
2019-04-16$21.86$22.0021.6%6.2%20.9%24.3%22.0%1.1%-0.2%17.9M-287.8M-6.3M0.511.8639,34320,1121,378,859811,650
2019-04-17$21.59$22.0021.5%6.2%19.6%23.3%21.7%0.9%-0.1%9.6M-171.3M-6.0M0.662.3935,71623,5941,390,685813,774
2019-04-18$21.30$22.0022.2%6.4%19.8%27.7%22.2%1.0%-0.6%10.2M-54.5M-5.8M1.121.7834,17838,2161,395,241816,619
2019-04-22$20.96$22.0022.6%6.6%20.1%30.0%23.0%0.9%-0.4%4.0M-3.4M-5.7M1.471.8421,73331,9171,256,424733,951
2019-04-23$20.82$22.0022.5%6.5%18.4%29.3%22.9%0.4%-0.7%-1.6M57.5M-5.5M0.811.8135,38228,6411,258,097750,956
2019-04-24$21.04$22.0023.4%6.8%18.9%34.7%24.1%0.4%-0.4%4.5M-31.7M-5.7M0.371.4651,74318,9001,270,703747,519
2019-04-25$20.82$22.0023.2%6.9%18.9%33.4%24.3%0.7%-0.2%2.2M25.5M-5.7M0.451.8427,43612,3131,298,513753,829
2019-04-26$21.31$22.0022.5%6.6%19.8%29.4%23.3%0.6%-0.4%12.2M-159.1M-6.0M0.381.8465,10524,9341,312,194757,252
2019-04-29$20.80$22.0023.3%6.9%21.2%34.3%24.6%0.4%-0.3%2.2M23.4M-5.6M0.291.84133,71839,0891,303,946755,074
2019-04-30$20.90$22.0022.4%6.6%20.2%29.1%23.2%0.5%0.1%3.6M634.0K-5.7M0.661.8424,17016,0241,273,615768,722