GDX Options History — August 2019

In August 2019, GDX traded between $27.81 and $30.53. ATM implied volatility averaged 33.1%, placing in the 82.3% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 0.0% (HV 20d: 33.1%). Max pain ranged from $25.00 to $26.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.33.

Notable Days

2019-08-06: Highest Volume — 353,762 contracts
2019-08-05: Largest IV spike — 14.4% change
2019-08-05: Highest IV Rank — 100.0%
2019-08-07: Largest Expected Move — 10.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.00	$27.81	$30.53	$27.82	$29.81
Max Pain	$25.14	$25.00	$26.00	$26.00	$25.50
ATM IV	33.1%	30.2%	36.2%	30.4%	32.8%
Expected Move	9.6%	8.7%	10.5%	8.9%	9.5%
HV 20d	33.1%	28.9%	35.9%	33.7%	28.9%
HV 60d	29.4%	28.8%	30.5%	29.1%	30.3%
IV Rank	82.3%	61.5%	100.0%	77.4%	77.8%
IV Percentile	96.2%	88.5%	100.0%	94.8%	93.7%
Term Structure	0.2%	-0.6%	1.4%	-0.3%	-0.1%
VWIV	34.1%	30.6%	37.3%	31.4%	33.7%
Skew 25d	-1.6%	-2.5%	-0.6%	-2.5%	-1.1%
Skew 10d	-3.4%	-5.0%	-1.3%	-4.5%	-2.5%
Call IV 25d	34.4%	30.7%	37.7%	33.0%	33.8%
Put IV 25d	32.8%	30.1%	35.7%	30.5%	32.6%
Bid-Ask Spread %	1.66	1.37	2.26	2.26	1.53
Gamma HHI	0.14	0.12	0.18	0.12	0.18
Net GEX	90.7M	62.5M	103.4M	89.4M	94.7M
Net DEX	-2.86B	-3.61B	-1.98B	-2.53B	-2.93B
Net VEX	-10.6M	-11.2M	-10.2M	-10.5M	-10.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.33	0.06	0.58	0.41	0.27
Total Volume	178,545.273	66,165	353,762	285,998	137,376
Total OI	3,273,158.682	3,027,628	3,483,166	3,269,183	3,290,738

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2019-08-01	$27.82	$26.00	30.4%	8.9%	33.7%	77.4%	31.4%	-2.5%	-0.3%	89.4M	-2.53B	-10.5M	0.41	2.26	202,990	83,008	2,055,546	1,213,637
2019-08-02	$27.81	$26.00	30.5%	8.9%	33.5%	78.0%	31.6%	-2.3%	-0.6%	95.6M	-2.57B	-10.7M	0.35	2.13	114,112	39,523	2,117,630	1,240,603
2019-08-05	$28.54	$25.00	34.9%	10.2%	34.4%	100.0%	35.9%	-2.3%	-0.4%	96.8M	-3.00B	-11.0M	0.29	1.77	158,718	45,675	2,081,985	1,201,185
2019-08-06	$28.62	$25.00	34.1%	10.0%	34.4%	95.3%	35.5%	-1.7%	-0.1%	103.4M	-3.06B	-10.9M	0.06	1.73	335,184	18,578	2,118,137	1,219,298
2019-08-07	$29.26	$25.00	36.2%	10.5%	34.4%	100.0%	37.3%	-2.0%	-0.1%	97.9M	-3.36B	-11.2M	0.15	1.78	305,091	44,637	2,120,702	1,226,519
2019-08-08	$29.70	$25.00	33.8%	10.0%	34.2%	87.0%	34.8%	-2.1%	0.2%	103.4M	-3.61B	-10.8M	0.57	1.79	90,235	51,075	2,111,020	1,236,608
2019-08-09	$29.45	$25.00	33.4%	9.9%	34.6%	84.9%	34.9%	-2.2%	0.6%	101.5M	-3.44B	-10.9M	0.33	1.71	84,145	27,882	2,133,412	1,260,910
2019-08-12	$29.13	$25.00	34.3%	10.0%	35.1%	89.2%	36.0%	-2.2%	0.6%	99.9M	-3.17B	-10.9M	0.22	1.56	135,041	29,169	2,130,542	1,236,318
2019-08-13	$28.62	$25.00	33.0%	9.7%	35.9%	80.2%	34.4%	-1.6%	0.7%	95.4M	-2.80B	-10.7M	0.58	1.93	159,737	92,457	2,146,579	1,246,103
2019-08-14	$28.45	$25.00	34.4%	10.2%	34.2%	89.1%	36.3%	-2.0%	1.4%	78.5M	-2.60B	-10.9M	0.30	1.62	90,946	26,914	2,143,503	1,288,645
2019-08-15	$28.69	$25.00	33.3%	9.9%	30.9%	81.2%	34.9%	-1.6%	1.3%	89.5M	-2.79B	-10.6M	0.14	1.40	107,957	15,616	2,159,576	1,295,504
2019-08-16	$28.30	$25.00	31.8%	9.3%	31.1%	71.7%	33.3%	-1.3%	1.0%	73.3M	-2.53B	-10.5M	0.25	1.37	152,854	38,140	2,181,235	1,301,931
2019-08-19	$27.98	$25.00	31.6%	9.1%	31.3%	70.0%	32.8%	-1.2%	0.1%	62.5M	-1.98B	-10.2M	0.19	1.49	142,088	27,162	1,966,045	1,061,583
2019-08-20	$28.78	$25.00	32.1%	9.3%	32.7%	73.9%	32.8%	-1.3%	-0.4%	79.9M	-2.46B	-10.5M	0.45	1.62	95,417	42,960	2,001,244	1,065,505
2019-08-21	$28.71	$25.00	30.4%	8.7%	32.6%	62.7%	30.8%	-0.6%	0.0%	80.9M	-2.40B	-10.2M	0.50	1.47	70,187	35,369	2,010,124	1,089,464
2019-08-22	$28.46	$25.00	30.2%	8.7%	31.6%	61.5%	30.6%	-0.6%	0.0%	75.9M	-2.23B	-10.2M	0.40	1.61	47,266	18,899	2,021,477	1,107,834
2019-08-23	$29.61	$25.00	34.2%	9.8%	34.2%	87.1%	34.7%	-1.4%	-0.1%	90.1M	-2.96B	-10.7M	0.34	1.64	188,467	64,235	2,015,389	1,114,167
2019-08-26	$29.53	$25.00	33.6%	9.7%	34.1%	83.2%	34.1%	-1.5%	-0.1%	89.5M	-2.83B	-10.6M	0.16	1.42	65,088	10,526	2,036,154	1,125,357
2019-08-27	$30.53	$25.00	35.1%	10.2%	35.7%	93.0%	35.8%	-1.0%	-0.0%	100.9M	-3.45B	-10.6M	0.47	1.60	153,297	72,685	2,039,546	1,130,579
2019-08-28	$30.46	$25.00	34.6%	10.0%	30.7%	89.6%	35.2%	-1.6%	0.0%	100.9M	-3.39B	-10.7M	0.37	1.50	69,817	25,880	2,058,846	1,161,644
2019-08-29	$29.70	$25.50	32.6%	9.3%	28.9%	77.0%	33.2%	-1.6%	0.0%	94.7M	-2.90B	-10.4M	0.51	1.47	139,806	71,787	2,073,622	1,173,045
2019-08-30	$29.81	$25.50	32.8%	9.5%	28.9%	77.8%	33.7%	-1.1%	-0.1%	94.7M	-2.93B	-10.4M	0.27	1.53	107,778	29,598	2,091,850	1,198,888