GDX Options History — October 2020

In October 2020, GDX traded between $36.51 and $40.99. ATM implied volatility averaged 40.9%, placing in the 21.9% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 5.7% (HV 20d: 35.2%). Max pain ranged from $40.00 to $41.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.74.

Notable Days

2020-10-28: Highest Volume — 212,075 contracts
2020-10-28: Largest IV spike — 15.1% change
2020-10-28: Highest IV Rank — 27.5%
2020-10-30: Largest Expected Move — 13.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.15	$36.51	$40.99	$39.50	$37.52
Max Pain	$40.86	$40.00	$41.00	$40.00	$40.00
ATM IV	40.9%	38.4%	46.0%	40.2%	45.6%
Expected Move	11.9%	11.1%	13.8%	11.1%	13.8%
HV 20d	35.2%	26.2%	41.2%	38.7%	34.5%
HV 60d	40.7%	39.1%	42.2%	41.4%	40.2%
IV Rank	21.9%	19.1%	27.5%	21.1%	27.0%
IV Percentile	48.2%	37.3%	69.8%	46.4%	68.3%
Term Structure	0.3%	-1.0%	3.4%	2.4%	-0.8%
VWIV	41.7%	39.0%	49.1%	39.0%	49.1%
Skew 25d	1.8%	0.7%	2.9%	2.1%	2.9%
Skew 10d	5.6%	1.7%	23.8%	5.3%	6.9%
Call IV 25d	40.3%	38.1%	44.8%	39.2%	44.7%
Put IV 25d	42.1%	39.2%	47.5%	41.4%	47.5%
Bid-Ask Spread %	2.62	1.98	4.57	3.57	2.67
Gamma HHI	0.09	0.06	0.37	0.07	0.06
Net GEX	27.4M	-556.7K	94.5M	22.0M	10.5M
Net DEX	-1.09B	-1.86B	-279.0M	-1.13B	-638.8M
Net VEX	-11.6M	-12.1M	-10.9M	-11.9M	-11.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.74	0.34	1.93	0.56	1.93
Total Volume	108,259.045	57,111	212,075	109,905	110,004
Total OI	2,375,116.682	2,131,259	2,546,278	2,394,390	2,412,633

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
2020-10-01	$39.50	$40.00	40.2%	11.1%	38.7%	21.1%	39.0%	2.1%	2.4%	22.0M	-1.13B	-11.9M	0.56	3.57	70,295	39,610	1,378,075	1,016,315
2020-10-02	$39.07	$40.00	41.2%	11.2%	38.7%	22.2%	40.2%	1.6%	3.4%	24.8M	-925.2M	-12.1M	0.48	2.50	75,581	36,316	1,393,202	1,034,456
2020-10-05	$39.53	$41.00	41.0%	12.2%	39.0%	22.0%	42.8%	1.4%	0.6%	20.6M	-1.16B	-11.9M	0.34	4.57	58,600	19,738	1,376,069	1,000,237
2020-10-06	$38.27	$41.00	41.6%	12.1%	40.5%	22.7%	42.3%	2.2%	0.4%	8.1M	-695.9M	-11.7M	0.54	3.21	77,764	42,041	1,401,215	1,007,131
2020-10-07	$38.26	$41.00	41.2%	12.1%	37.4%	22.2%	42.4%	1.8%	0.3%	7.2M	-710.9M	-11.6M	0.97	2.53	49,137	47,877	1,437,169	1,018,295
2020-10-08	$39.03	$41.00	39.0%	11.4%	38.2%	19.8%	39.9%	1.8%	0.5%	17.7M	-936.7M	-12.0M	0.52	2.69	37,491	19,620	1,452,592	1,044,721
2020-10-09	$40.70	$41.00	39.0%	11.3%	41.2%	19.8%	39.8%	1.1%	0.4%	56.9M	-1.72B	-12.0M	0.56	2.66	92,299	51,752	1,460,485	1,040,759
2020-10-12	$40.73	$41.00	38.4%	11.1%	38.2%	19.1%	39.3%	0.7%	0.6%	45.5M	-1.66B	-11.7M	0.54	2.28	58,758	31,446	1,426,483	1,003,659
2020-10-13	$40.36	$41.00	40.4%	11.7%	38.3%	21.4%	41.2%	0.8%	0.5%	43.0M	-1.53B	-11.6M	0.43	2.08	81,482	35,397	1,445,937	1,008,359
2020-10-14	$40.99	$41.00	40.7%	11.7%	38.7%	21.6%	41.3%	1.3%	0.1%	55.5M	-1.86B	-11.9M	0.53	2.16	65,033	34,679	1,485,944	1,022,795
2020-10-15	$40.34	$41.00	41.2%	12.0%	38.5%	22.2%	42.3%	1.4%	0.7%	49.9M	-1.55B	-11.7M	0.93	2.20	69,491	64,669	1,489,148	1,029,044
2020-10-16	$39.90	$41.00	39.7%	11.3%	38.5%	20.5%	40.0%	1.8%	-0.5%	94.5M	-1.26B	-11.6M	1.33	1.98	58,407	77,750	1,497,239	1,049,039
2020-10-19	$39.34	$41.00	40.2%	11.5%	36.3%	21.1%	40.1%	2.3%	-0.7%	21.7M	-1.13B	-11.4M	0.61	2.07	66,106	40,627	1,199,532	931,727
2020-10-20	$39.45	$41.00	41.4%	11.9%	36.3%	22.5%	40.9%	2.0%	-1.0%	24.6M	-1.20B	-11.7M	0.39	2.12	67,848	26,644	1,236,218	945,294
2020-10-21	$39.80	$41.00	40.3%	11.5%	27.3%	21.2%	40.2%	1.8%	-0.6%	32.4M	-1.36B	-11.8M	0.51	2.13	51,250	26,342	1,269,347	961,675
2020-10-22	$39.20	$41.00	39.8%	11.4%	26.2%	20.7%	40.1%	1.2%	-0.5%	22.6M	-1.14B	-11.8M	0.72	2.18	57,572	41,287	1,281,861	974,435
2020-10-23	$38.80	$41.00	38.9%	11.2%	26.4%	19.6%	39.1%	2.4%	-0.6%	14.8M	-959.7M	-11.6M	0.45	2.38	66,157	29,527	1,290,613	988,723
2020-10-26	$38.20	$41.00	40.7%	11.9%	26.9%	21.7%	42.0%	2.7%	0.4%	12.5M	-801.7M	-11.3M	0.66	2.27	54,484	35,735	1,277,219	974,244
2020-10-27	$38.76	$41.00	40.0%	11.9%	26.7%	20.8%	41.6%	2.2%	0.6%	17.4M	-983.8M	-11.3M	0.77	2.28	44,888	34,781	1,284,439	995,971
2020-10-28	$36.51	$41.00	46.0%	13.8%	33.9%	27.5%	48.2%	2.2%	0.0%	-556.7K	-279.0M	-10.9M	0.88	4.20	113,082	98,993	1,312,151	1,012,806
2020-10-29	$36.95	$41.00	43.5%	13.0%	34.0%	24.8%	45.5%	2.2%	0.1%	550.3K	-389.9M	-11.2M	1.54	2.84	47,683	73,456	1,344,206	1,041,105
2020-10-30	$37.52	$40.00	45.6%	13.8%	34.5%	27.0%	49.1%	2.9%	-0.8%	10.5M	-638.8M	-11.7M	1.93	2.67	37,510	72,494	1,359,464	1,053,169