GDX Options History — June 2020

In June 2020, GDX traded between $32.30 and $36.64. ATM implied volatility averaged 43.8%, placing in the 25.1% IV rank vs the trailing year. The 30-day expected move averaged 12.5%. IV traded above realized volatility by 3.5% (HV 20d: 40.3%). Max pain ranged from $30.00 to $33.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 0.57.

Notable Days

2020-06-05: Highest Volume — 270,735 contracts
2020-06-11: Largest IV spike — 15.2% change
2020-06-11: Highest IV Rank — 31.7%
2020-06-11: Largest Expected Move — 14.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$33.88	$32.30	$36.64	$35.35	$36.64
Max Pain	$31.95	$30.00	$33.00	$30.00	$33.00
ATM IV	43.8%	40.5%	49.9%	42.4%	41.0%
Expected Move	12.5%	11.2%	14.2%	12.2%	11.3%
HV 20d	40.3%	37.3%	44.1%	39.9%	37.3%
HV 60d	66.5%	45.3%	94.0%	93.8%	45.3%
IV Rank	25.1%	21.5%	31.7%	23.5%	22.0%
IV Percentile	75.4%	68.3%	83.3%	76.2%	68.3%
Term Structure	0.4%	-0.4%	1.1%	-0.4%	0.6%
VWIV	44.6%	40.0%	51.0%	43.2%	40.2%
Skew 25d	-1.2%	-3.7%	1.1%	-0.6%	-0.4%
Skew 10d	-2.4%	-7.3%	2.8%	-0.5%	-0.1%
Call IV 25d	45.4%	41.2%	52.1%	43.6%	42.0%
Put IV 25d	44.2%	41.4%	49.6%	43.0%	41.7%
Bid-Ask Spread %	2.91	2.08	4.50	2.44	2.54
Gamma HHI	0.09	0.07	0.12	0.10	0.11
Net GEX	40.1M	10.0M	65.9M	49.5M	65.9M
Net DEX	-1.59B	-2.31B	-979.2M	-2.15B	-2.31B
Net VEX	-11.5M	-11.9M	-10.7M	-11.7M	-11.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.57	0.25	1.20	0.41	0.25
Total Volume	161,042.364	74,265	270,735	118,802	188,324
Total OI	2,548,794.727	2,229,203	2,797,916	2,477,299	2,392,950

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
2020-06-01	$35.35	$30.00	42.4%	12.2%	39.9%	23.5%	43.2%	-0.6%	-0.4%	49.5M	-2.15B	-11.7M	0.41	2.44	84,203	34,599	1,527,952	949,347
2020-06-02	$34.22	$30.00	42.1%	12.2%	41.1%	23.2%	43.2%	-0.2%	0.0%	36.8M	-1.71B	-11.5M	0.66	2.73	69,079	45,459	1,516,005	964,825
2020-06-03	$32.86	$30.00	41.9%	12.0%	43.0%	23.0%	42.6%	1.1%	-0.3%	22.0M	-1.17B	-11.1M	0.51	2.28	110,089	56,124	1,532,340	979,714
2020-06-04	$32.89	$32.00	41.7%	12.0%	41.9%	22.7%	42.8%	1.1%	-0.3%	23.2M	-1.20B	-11.1M	1.20	2.08	62,803	75,419	1,563,701	989,231
2020-06-05	$32.30	$32.00	41.0%	11.9%	39.3%	21.9%	42.6%	0.1%	-0.3%	10.0M	-979.2M	-10.7M	0.85	2.53	146,408	124,327	1,567,607	999,969
2020-06-08	$32.74	$31.50	40.5%	11.6%	39.8%	21.5%	41.4%	0.2%	0.1%	32.9M	-1.24B	-10.8M	0.87	2.13	93,668	81,902	1,579,440	973,223
2020-06-09	$33.02	$31.50	42.3%	12.3%	39.2%	23.4%	44.8%	-1.3%	0.7%	35.0M	-1.42B	-11.3M	1.07	2.76	71,531	76,339	1,610,561	1,020,313
2020-06-10	$34.32	$31.50	43.3%	12.5%	41.6%	24.5%	45.0%	-3.0%	0.4%	49.1M	-1.98B	-11.5M	0.47	2.58	181,475	86,152	1,631,817	1,023,846
2020-06-11	$32.91	$31.50	49.9%	14.2%	44.1%	31.7%	50.8%	-2.5%	-0.3%	35.5M	-1.42B	-11.9M	0.45	4.13	149,820	68,133	1,684,882	1,048,658
2020-06-12	$32.73	$32.00	48.9%	14.0%	42.3%	30.6%	51.0%	-1.8%	0.1%	35.2M	-1.34B	-11.8M	0.38	3.57	122,372	46,074	1,729,037	1,062,899
2020-06-15	$33.45	$32.00	47.9%	13.7%	40.7%	29.6%	48.9%	-2.7%	-0.2%	46.8M	-1.65B	-11.5M	0.59	3.18	83,908	49,823	1,671,207	1,025,899
2020-06-16	$32.65	$32.00	46.6%	13.3%	41.3%	28.1%	47.9%	-2.9%	0.3%	35.7M	-1.32B	-11.2M	0.70	3.09	65,854	46,027	1,676,674	1,029,918
2020-06-17	$32.69	$32.00	46.7%	13.4%	39.0%	28.2%	48.6%	-3.7%	0.6%	36.3M	-1.37B	-11.2M	0.58	3.07	61,789	35,567	1,704,646	1,049,480
2020-06-18	$32.45	$32.00	45.2%	12.9%	38.9%	26.6%	45.5%	-2.4%	1.1%	32.1M	-1.27B	-11.1M	0.69	2.65	55,209	38,315	1,722,937	1,050,101
2020-06-19	$33.60	$32.50	43.7%	12.5%	40.4%	25.0%	44.2%	-2.4%	0.7%	35.6M	-1.73B	-11.3M	0.43	2.98	177,688	76,348	1,729,512	1,068,404
2020-06-22	$34.83	$32.50	44.6%	12.7%	42.7%	26.0%	45.4%	-1.6%	0.7%	42.6M	-1.68B	-11.8M	0.50	2.48	145,783	72,296	1,403,221	825,982
2020-06-23	$35.36	$33.00	43.5%	12.2%	39.3%	24.8%	43.1%	-1.5%	1.0%	48.7M	-1.85B	-11.9M	0.45	2.78	110,879	49,695	1,439,304	855,485
2020-06-24	$34.88	$33.00	43.9%	12.4%	39.3%	25.2%	44.4%	-0.6%	1.1%	46.1M	-1.68B	-11.8M	0.25	3.34	152,668	38,138	1,460,199	862,827
2020-06-25	$34.80	$33.00	42.4%	11.9%	39.2%	23.5%	42.2%	-0.7%	1.1%	50.0M	-1.67B	-11.8M	0.41	3.39	52,504	21,761	1,509,847	871,989
2020-06-26	$35.24	$33.00	42.9%	11.9%	39.3%	24.1%	43.2%	-1.3%	1.1%	59.9M	-1.86B	-11.9M	0.56	4.50	96,569	54,518	1,523,857	879,562
2020-06-29	$35.53	$33.00	41.2%	11.2%	37.9%	22.2%	40.0%	-0.1%	0.5%	53.9M	-1.89B	-11.5M	0.32	2.81	63,202	20,091	1,505,356	858,760
2020-06-30	$36.64	$33.00	41.0%	11.3%	37.3%	22.0%	40.2%	-0.4%	0.6%	65.9M	-2.31B	-11.6M	0.25	2.54	150,121	38,203	1,524,914	868,036