GDX Options History — June 2019

In June 2019, GDX traded between $22.40 and $25.96. ATM implied volatility averaged 26.0%, placing in the 50.4% IV rank vs the trailing year. The 30-day expected move averaged 7.5%. IV traded above realized volatility by 2.1% (HV 20d: 23.8%). Max pain ranged from $21.00 to $23.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 0.50.

Notable Days

  • 2019-06-25: Highest Volume — 770,893 contracts
  • 2019-06-24: Largest IV spike — 11.1% change
  • 2019-06-25: Highest IV Rank — 75.1%
  • 2019-06-26: Largest Expected Move — 8.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.85$22.40$25.96$22.40$25.52
Max Pain$21.52$21.00$23.00$21.00$23.00
ATM IV26.0%23.8%30.0%25.0%29.1%
Expected Move7.5%6.8%8.7%7.4%8.0%
HV 20d23.8%22.2%25.9%25.4%23.3%
HV 60d23.0%22.2%24.0%23.7%23.6%
IV Rank50.4%37.5%75.1%44.7%69.2%
IV Percentile70.1%48.4%95.6%65.1%92.1%
Term Structure0.3%-0.6%1.7%-0.3%1.7%
VWIV26.5%24.4%30.7%25.8%28.6%
Skew 25d-1.5%-2.8%-0.7%-1.2%-2.0%
Skew 10d-2.5%-4.8%-0.8%-3.1%-3.3%
Call IV 25d27.3%24.8%32.1%26.0%30.3%
Put IV 25d25.7%23.8%29.4%24.8%28.2%
Bid-Ask Spread %1.941.502.642.201.93
Gamma HHI0.140.100.230.130.11
Net GEX57.0M39.6M78.2M39.6M78.2M
Net DEX-1.34B-2.19B-781.4M-781.4M-1.74B
Net VEX-7.1M-9.7M-5.7M-5.7M-9.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.111.700.440.59
Total Volume201,444.548,047770,893191,351111,965
Total OI2,386,159.852,003,5612,806,4832,003,5612,806,483

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-06-03$22.40$21.0025.0%7.4%25.4%44.7%25.8%-1.2%-0.3%39.6M-781.4M-5.7M0.442.20133,18858,1631,207,334796,227
2019-06-04$22.55$21.0024.3%7.1%25.3%40.1%25.2%-1.4%-0.1%41.6M-815.1M-5.9M0.282.03129,13935,8431,239,538824,734
2019-06-05$22.63$21.0025.6%7.6%24.6%48.2%26.7%-1.4%-0.3%42.6M-863.1M-6.0M0.531.90163,05485,9081,274,621829,143
2019-06-06$22.81$21.0025.3%7.3%23.7%46.3%25.8%-2.0%0.0%47.5M-971.9M-6.5M0.421.86100,74242,0301,352,288890,455
2019-06-07$22.89$21.0025.0%7.2%23.6%44.6%25.9%-1.2%-0.2%51.1M-1.04B-6.5M0.361.88108,64838,7291,402,216901,305
2019-06-10$22.49$21.0025.0%7.1%24.7%44.6%25.5%-0.8%-0.1%43.7M-795.3M-6.4M0.482.0879,50638,2961,415,989903,661
2019-06-11$22.55$21.0024.1%7.0%23.2%39.3%25.0%-1.3%0.5%43.9M-817.8M-6.4M0.501.9332,01716,0301,408,236911,191
2019-06-12$22.96$21.0024.5%7.0%23.4%41.4%24.4%-1.5%-0.2%54.0M-1.03B-6.4M0.352.1897,55034,1801,421,660915,376
2019-06-13$23.16$21.0023.9%6.8%23.3%38.0%24.6%-0.7%-0.0%58.5M-1.15B-6.6M0.231.5566,56415,2161,461,986930,078
2019-06-14$23.28$21.5024.6%7.0%22.4%42.1%24.9%-1.0%-0.6%58.5M-1.20B-6.7M0.251.68153,62938,8661,465,734934,453
2019-06-17$23.43$21.5024.2%6.9%22.4%39.6%24.7%-1.1%0.4%63.7M-1.28B-6.6M0.461.5440,42418,6431,485,975942,100
2019-06-18$23.60$21.5024.9%7.1%22.2%44.0%25.3%-0.9%-0.1%66.5M-1.37B-6.6M0.351.72140,17449,5611,493,183954,816
2019-06-19$23.91$21.5023.8%6.8%22.2%37.5%24.4%-1.7%0.4%73.5M-1.54B-6.8M1.701.5084,418143,4821,517,387981,462
2019-06-20$24.98$21.5026.3%7.5%23.6%52.5%26.6%-1.7%-0.0%74.2M-2.11B-6.9M0.201.87324,92366,5741,540,2071,083,014
2019-06-21$25.19$22.0026.0%7.4%23.6%50.8%26.6%-1.5%0.2%65.4M-2.19B-7.3M0.272.07212,39357,0331,587,7831,121,039
2019-06-24$25.96$22.0028.9%8.4%24.2%68.4%29.5%-2.2%1.1%53.5M-1.89B-7.8M0.292.63175,00951,6281,321,636837,665
2019-06-25$25.68$22.0030.0%8.7%24.7%75.1%30.7%-2.8%0.6%52.0M-1.76B-8.2M0.112.64694,99575,8981,366,079866,765
2019-06-26$25.59$22.0029.2%8.7%25.1%69.9%30.7%-2.7%1.7%67.0M-1.83B-9.2M0.641.90102,29165,5101,696,916910,180
2019-06-27$25.38$23.0029.6%8.5%25.9%72.6%29.7%-2.0%1.4%64.6M-1.69B-9.5M1.491.7858,89687,7751,750,556973,726
2019-06-28$25.52$23.0029.1%8.0%23.3%69.2%28.6%-2.0%1.7%78.2M-1.74B-9.7M0.591.9370,52541,4401,781,1551,025,328