GDX Options History — November 2019

In November 2019, GDX traded between $26.23 and $27.93. ATM implied volatility averaged 25.0%, placing in the 27.9% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded above realized volatility by 1.0% (HV 20d: 24.0%). Max pain ranged from $27.00 to $27.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.62.

Notable Days

  • 2019-11-07: Highest Volume — 178,886 contracts
  • 2019-11-15: Largest IV drop — 6.7% change
  • 2019-11-05: Highest IV Rank — 39.9%
  • 2019-11-04: Largest Expected Move — 8.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.90$26.23$27.93$27.93$27.05
Max Pain$27.02$27.00$27.50$27.50$27.00
ATM IV25.0%23.2%26.9%26.2%24.1%
Expected Move7.3%6.6%8.1%7.5%6.9%
HV 20d24.0%19.4%29.6%28.1%19.4%
HV 60d30.2%27.0%31.6%31.1%27.0%
IV Rank27.9%16.1%39.9%35.6%22.2%
IV Percentile41.3%23.4%55.2%50.0%37.3%
Term Structure0.3%-0.9%1.3%1.0%-0.6%
VWIV25.9%23.3%29.1%26.5%24.4%
Skew 25d-1.4%-2.1%-0.7%-1.2%-0.7%
Skew 10d-2.9%-4.2%-1.6%-1.9%-2.1%
Call IV 25d26.1%23.6%28.5%27.0%24.5%
Put IV 25d24.7%22.6%26.7%25.7%23.8%
Bid-Ask Spread %1.511.132.201.181.65
Gamma HHI0.110.080.280.280.21
Net GEX42.2M7.7M154.8M154.8M58.9M
Net DEX-683.2M-1.45B-216.9M-1.45B-730.1M
Net VEX-6.4M-7.9M-5.4M-7.9M-5.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.620.221.430.580.49
Total Volume76,984.540,920178,88677,32764,010
Total OI2,941,966.452,597,2843,223,8803,223,8802,718,483

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-11-01$27.93$27.5026.2%7.5%28.1%35.6%26.5%-1.2%1.0%154.8M-1.45B-7.9M0.581.1848,86728,4601,985,6091,238,271
2019-11-04$27.55$27.0026.9%8.1%28.5%39.8%29.1%-2.0%0.7%59.6M-1.14B-7.7M0.631.6739,47524,7381,928,6151,197,968
2019-11-05$27.05$27.0026.9%8.0%28.2%39.9%28.7%-1.4%0.8%39.8M-784.6M-7.4M0.711.6351,21236,5501,945,0401,205,534
2019-11-06$27.26$27.0026.4%7.8%28.5%36.9%28.5%-1.9%1.0%48.5M-911.2M-7.4M0.501.5434,96517,3661,958,6271,207,753
2019-11-07$26.60$27.0026.3%7.9%29.6%36.3%28.2%-1.2%0.7%17.3M-439.0M-6.9M0.442.08124,18154,7051,959,2951,213,845
2019-11-08$26.26$27.0025.6%7.5%26.1%31.8%26.8%-1.3%0.9%7.7M-216.9M-6.5M1.071.4645,73948,9041,976,1301,215,892
2019-11-11$26.31$27.0025.8%7.5%26.0%32.9%27.0%-1.7%0.2%12.9M-329.1M-6.4M0.731.3637,37127,1551,950,2741,184,704
2019-11-12$26.54$27.0026.3%7.7%23.7%36.1%27.7%-1.7%0.6%20.8M-452.5M-6.5M0.321.3251,88616,5311,962,0601,183,838
2019-11-13$26.80$27.0026.2%7.6%23.5%35.6%26.9%-2.1%0.3%36.9M-649.1M-6.5M0.271.3873,69320,1721,984,9671,185,953
2019-11-14$26.94$27.0025.4%7.4%22.8%30.5%25.9%-1.7%0.6%52.1M-742.1M-6.4M0.621.4535,65822,2662,004,7051,179,187
2019-11-15$26.80$27.0023.7%7.0%22.8%19.5%24.5%-1.3%1.3%45.9M-597.4M-6.0M1.431.4728,52940,9112,008,5111,192,710
2019-11-18$27.12$27.0024.2%7.0%22.2%22.4%24.6%-0.9%0.1%41.4M-782.9M-5.9M0.441.3554,74724,0761,598,121999,163
2019-11-19$27.18$27.0024.1%6.9%22.2%22.2%24.8%-1.2%-0.1%48.1M-834.8M-6.0M0.221.4863,00813,7511,620,8761,007,743
2019-11-20$27.31$27.0024.5%7.0%22.1%24.3%24.5%-1.6%0.2%53.2M-913.2M-6.0M0.571.6754,88931,3551,623,0571,012,703
2019-11-21$26.89$27.0024.2%6.9%20.7%22.6%24.7%-1.6%0.1%37.6M-674.3M-5.9M0.931.5637,77235,1941,634,3951,029,840
2019-11-22$26.73$27.0023.2%6.6%20.7%16.1%23.8%-1.3%0.4%30.9M-569.3M-5.7M0.342.2059,73720,3891,641,8411,047,216
2019-11-25$26.23$27.0023.5%6.8%20.8%17.9%23.9%-1.2%-0.4%16.3M-344.8M-5.4M1.151.1329,26733,5491,614,8101,035,032
2019-11-26$26.73$27.0023.6%6.8%22.0%18.7%23.8%-1.0%-0.5%28.4M-542.6M-5.6M0.741.3138,84028,8521,623,0631,054,873
2019-11-27$26.73$27.0023.3%6.6%21.9%16.5%23.3%-1.1%-0.9%31.7M-554.9M-5.6M0.301.2631,5489,3721,639,4361,069,189
2019-11-29$27.05$27.0024.1%6.9%19.4%22.2%24.4%-0.7%-0.6%58.9M-730.1M-5.6M0.491.6543,02720,9831,644,9381,073,545