GDX Options History — May 2019

In May 2019, GDX traded between $20.21 and $21.64. ATM implied volatility averaged 22.7%, placing in the 30.6% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 1.3% (HV 20d: 21.4%). Max pain ranged from $21.00 to $22.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.53.

Notable Days

  • 2019-05-01: Highest Volume — 181,370 contracts
  • 2019-05-13: Largest IV spike — 8.3% change
  • 2019-05-13: Highest IV Rank — 40.0%
  • 2019-05-13: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$20.61$20.21$21.64$20.57$21.64
Max Pain$21.09$21.00$22.00$22.00$21.00
ATM IV22.7%21.7%24.2%22.4%23.7%
Expected Move6.6%6.3%7.2%6.6%6.8%
HV 20d21.4%19.3%23.5%20.4%22.9%
HV 60d21.9%21.1%22.9%21.8%22.7%
IV Rank30.6%24.7%40.0%29.0%36.9%
IV Percentile40.4%28.2%59.5%38.5%52.4%
Term Structure0.1%-0.6%1.1%0.0%-0.4%
VWIV23.5%21.9%25.4%23.2%24.1%
Skew 25d-0.1%-1.2%0.8%0.5%-1.2%
Skew 10d0.2%-2.7%1.9%1.8%-1.3%
Call IV 25d23.2%21.9%25.1%22.6%25.1%
Put IV 25d23.1%22.0%25.0%23.1%23.9%
Bid-Ask Spread %2.021.313.182.332.39
Gamma HHI0.090.080.100.080.10
Net GEX4.7M-4.6M27.1M-1.5M27.1M
Net DEX24.5M-461.2M216.6M111.7M-461.2M
Net VEX-5.5M-5.8M-5.2M-5.5M-5.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.530.230.990.280.35
Total Volume64,651.31825,745181,370181,370143,802
Total OI2,089,9651,910,5442,230,4972,051,3061,987,747

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-05-01$20.57$22.0022.4%6.6%20.4%29.0%23.2%0.5%0.0%-1.5M111.7M-5.5M0.282.33141,81439,5561,282,069769,237
2019-05-02$20.21$21.5022.6%6.7%20.9%30.3%22.9%0.8%0.2%-4.6M216.6M-5.4M0.431.7556,11623,9871,344,111783,796
2019-05-03$20.34$21.5021.9%6.3%19.6%26.1%22.8%0.5%0.2%-2.4M180.6M-5.5M0.761.7143,20832,6801,372,494795,561
2019-05-06$20.32$21.0022.3%6.7%19.6%28.4%23.7%-0.1%-0.1%-1.9M163.7M-5.5M0.561.3119,77011,0621,363,525798,480
2019-05-07$20.76$21.0024.2%7.0%20.9%39.6%24.9%0.6%-0.3%6.1M-7.4M-5.8M0.402.0343,33717,3931,373,766802,275
2019-05-08$20.48$21.0023.6%7.0%20.9%36.2%24.6%0.0%0.1%1.3M99.9M-5.7M0.451.5236,98116,4551,388,641808,053
2019-05-09$20.47$21.0023.7%7.0%21.0%36.9%25.0%0.2%0.6%1.6M102.4M-5.6M0.871.4231,22027,1421,395,345809,519
2019-05-10$20.37$21.0022.4%6.7%20.5%28.7%24.0%0.6%0.1%760.4K156.1M-5.5M0.431.9935,60815,4801,410,549814,295
2019-05-13$20.95$21.0024.2%7.2%23.5%40.0%25.4%-0.0%0.9%12.2M-102.6M-5.8M0.372.0884,16231,1371,392,701804,073
2019-05-14$20.81$21.0022.9%6.8%23.5%31.9%24.0%-0.4%0.8%9.6M-40.1M-5.6M0.421.9241,81817,4441,407,885805,474
2019-05-15$20.80$21.0022.1%6.6%23.0%27.3%24.3%-0.9%1.1%9.7M-42.8M-5.6M0.231.6428,3326,5311,415,651808,129
2019-05-16$20.55$21.0021.9%6.5%23.0%26.1%23.1%-0.2%1.1%1.7M79.2M-5.4M0.852.1631,81227,1111,406,627808,910
2019-05-17$20.71$21.0022.0%6.4%22.9%26.4%23.0%0.7%0.6%6.4M27.3M-5.5M0.991.3347,13746,7331,417,505812,992
2019-05-20$20.70$21.0022.3%6.5%22.2%28.3%22.9%-0.3%-0.5%6.5M-34.0M-5.4M0.331.8332,36010,5461,142,854767,690
2019-05-21$20.71$21.0021.7%6.3%22.1%24.7%22.0%0.1%0.6%7.4M-36.1M-5.4M0.532.4130,49116,2061,156,358768,307
2019-05-22$20.32$21.0021.9%6.3%22.7%25.5%21.9%-0.4%0.1%1.4M78.2M-5.2M0.972.9920,96020,2921,173,680767,607
2019-05-23$20.53$21.0023.4%6.7%22.8%34.6%23.7%-0.7%-0.6%5.3M2.7M-5.4M0.363.1845,87316,7161,181,055773,145
2019-05-24$20.52$21.0022.4%6.4%21.0%29.0%23.1%-0.4%-0.1%4.8M11.2M-5.3M0.582.1516,2779,4681,195,486774,779
2019-05-28$20.38$21.0022.5%6.4%19.4%29.5%23.2%-0.1%-0.4%962.5K66.2M-5.2M0.311.6419,8546,1041,180,521780,734
2019-05-29$20.45$21.0022.5%6.5%19.3%29.2%22.9%-0.3%-0.3%2.3M41.8M-5.2M0.472.1118,1888,6301,183,601781,529
2019-05-30$20.78$21.0022.5%6.4%19.4%29.5%23.0%-0.3%-0.6%9.2M-75.0M-5.2M0.732.5530,45322,0831,187,857784,617
2019-05-31$21.64$21.0023.7%6.8%22.9%36.9%24.1%-1.2%-0.4%27.1M-461.2M-5.6M0.352.39106,90436,8981,202,232785,515