GDX Options History — April 2021

In April 2021, GDX traded between $33.57 and $36.74. ATM implied volatility averaged 30.2%, placing in the 3.3% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 0.4% (HV 20d: 29.7%). Max pain ranged from $33.00 to $34.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.63.

Notable Days

  • 2021-04-15: Highest Volume — 225,992 contracts
  • 2021-04-09: Largest IV drop — 4.9% change
  • 2021-04-29: Highest IV Rank — 7.6%
  • 2021-04-05: Largest Expected Move — 9.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.07$33.57$36.74$33.57$34.34
Max Pain$33.48$33.00$34.00$33.00$34.00
ATM IV30.2%28.7%31.6%30.9%30.3%
Expected Move8.7%8.3%9.1%8.8%8.7%
HV 20d29.7%25.9%32.8%29.6%25.9%
HV 60d33.1%30.9%34.6%34.3%31.0%
IV Rank3.3%0.0%7.6%2.3%6.6%
IV Percentile2.0%0.0%5.2%0.4%4.8%
Term Structure-0.0%-0.4%0.4%-0.1%-0.4%
VWIV31.0%29.3%33.3%33.3%30.4%
Skew 25d0.8%-0.4%1.8%1.1%0.2%
Skew 10d2.0%-0.2%4.4%2.6%0.3%
Call IV 25d30.4%28.7%31.6%31.0%30.9%
Put IV 25d31.2%29.3%32.8%32.1%31.1%
Bid-Ask Spread %4.522.6612.282.953.14
Gamma HHI0.080.050.390.050.06
Net GEX29.8M10.9M113.7M13.8M10.9M
Net DEX-536.3M-1.05B-125.5M-175.8M-125.5M
Net VEX-12.2M-13.1M-11.4M-11.4M-11.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.331.061.060.61
Total Volume97,799.8139,325225,992141,30576,150
Total OI2,066,785.4761,907,6222,199,5391,907,6222,199,494

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-04-01$33.57$33.0030.9%8.8%29.6%2.3%33.3%1.1%-0.1%13.8M-175.8M-11.4M1.062.9568,48072,8251,130,000777,622
2021-04-05$33.67$33.0031.6%9.1%29.4%4.5%31.8%0.9%0.0%16.0M-156.8M-11.4M1.015.5519,56819,7571,115,050795,942
2021-04-06$34.34$33.0030.8%8.9%29.5%2.2%31.9%0.7%0.3%22.1M-364.1M-11.5M0.574.00100,98657,4911,126,413809,104
2021-04-07$33.94$33.0031.3%9.0%28.5%3.4%32.1%1.1%0.1%17.6M-246.6M-11.6M0.997.0142,60442,2351,168,399821,753
2021-04-08$34.66$33.0031.0%8.9%29.3%2.8%31.6%0.9%-0.2%26.5M-493.8M-12.1M0.363.9474,19626,7701,179,793839,589
2021-04-09$34.68$33.0029.5%8.6%28.7%0.0%30.5%0.9%0.1%23.9M-506.9M-12.1M0.703.2339,83527,9031,195,857846,387
2021-04-12$33.88$33.0029.5%8.6%30.2%0.0%30.3%0.3%0.4%13.7M-210.9M-11.6M0.332.8953,85517,7701,194,441839,321
2021-04-13$34.54$33.0029.0%8.4%30.1%0.0%29.9%0.7%0.3%27.3M-452.7M-12.0M0.513.2161,76131,3021,218,010845,177
2021-04-14$34.34$33.0029.0%8.4%30.2%0.0%29.5%0.8%0.3%23.4M-389.4M-11.8M0.543.6627,63614,9421,248,613854,845
2021-04-15$35.75$33.0028.7%8.3%32.8%0.0%29.3%0.3%0.2%50.2M-905.0M-12.3M0.542.68146,91879,0741,255,719863,247
2021-04-16$36.06$33.0028.9%8.3%31.8%0.6%30.2%1.2%0.3%113.7M-999.4M-12.6M0.533.83102,46054,4721,291,239908,300
2021-04-19$35.77$34.0030.0%8.6%32.0%3.7%31.2%1.8%-0.3%29.6M-662.7M-12.5M0.833.2248,96840,4021,194,238802,908
2021-04-20$36.15$34.0031.3%9.0%31.8%7.1%31.9%1.2%-0.0%32.5M-808.9M-12.7M0.483.5375,83036,3721,209,151828,023
2021-04-21$36.74$34.0031.3%9.0%29.6%7.2%32.8%1.3%-0.0%41.0M-1.05B-13.0M0.689.3267,78745,9291,238,036844,602
2021-04-22$36.25$34.0031.3%9.0%30.0%7.5%31.8%1.6%-0.3%35.5M-836.5M-13.1M0.832.7454,88445,3981,247,216859,843
2021-04-23$36.10$34.0029.9%8.6%29.9%3.6%31.2%1.2%0.0%36.8M-793.0M-12.7M0.749.2335,53426,1551,251,180873,262
2021-04-26$36.01$34.0029.8%8.6%29.7%3.6%30.4%0.8%-0.2%30.4M-730.6M-12.6M0.492.6933,48916,4331,244,751859,965
2021-04-27$35.41$34.0029.5%8.5%30.7%3.0%30.0%0.5%-0.1%22.7M-524.8M-12.5M0.443.1643,02618,8161,258,652862,447
2021-04-28$35.45$34.0029.5%8.5%27.1%3.5%30.4%-0.4%-0.2%25.2M-540.0M-12.3M0.4012.2855,21622,1061,269,955866,904
2021-04-29$34.77$34.0030.5%8.8%27.7%7.6%31.1%0.5%-0.3%12.3M-284.9M-12.1M0.692.6675,97352,4881,290,754876,293
2021-04-30$34.34$34.0030.3%8.7%25.9%6.6%30.4%0.2%-0.4%10.9M-125.5M-11.8M0.613.1447,27728,8731,318,963880,531