GDX Options History — July 2021

In July 2021, GDX traded between $33.10 and $35.08. ATM implied volatility averaged 27.4%, placing in the 6.2% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 1.5% (HV 20d: 25.9%). Max pain ranged from $35.00 to $36.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 0.52.

Notable Days

2021-07-29: Highest Volume — 220,795 contracts
2021-07-19: Largest IV spike — 12.7% change
2021-07-19: Highest IV Rank — 23.0%
2021-07-19: Largest Expected Move — 9.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$34.07	$33.10	$35.08	$34.00	$34.91
Max Pain	$35.57	$35.00	$36.00	$36.00	$35.00
ATM IV	27.4%	25.8%	31.5%	27.3%	27.8%
Expected Move	7.8%	6.7%	9.0%	7.5%	7.7%
HV 20d	25.9%	23.6%	29.4%	25.7%	26.4%
HV 60d	28.2%	27.1%	28.9%	28.6%	27.5%
IV Rank	6.2%	0.0%	23.0%	1.8%	8.4%
IV Percentile	4.7%	0.0%	27.0%	0.8%	9.1%
Term Structure	0.3%	-0.1%	0.8%	0.6%	0.5%
VWIV	27.8%	24.2%	31.8%	26.4%	27.4%
Skew 25d	1.2%	-0.3%	3.1%	0.9%	0.8%
Skew 10d	3.2%	-0.1%	7.3%	2.3%	2.9%
Call IV 25d	27.3%	25.4%	30.4%	27.1%	28.2%
Put IV 25d	28.5%	26.4%	33.5%	27.9%	29.0%
Bid-Ask Spread %	2.50	1.86	7.39	1.98	2.93
Gamma HHI	0.07	0.06	0.13	0.07	0.13
Net GEX	19.4M	-2.6M	75.0M	13.6M	75.0M
Net DEX	179.9M	-513.9M	528.3M	271.3M	-457.3M
Net VEX	-13.2M	-13.9M	-12.4M	-13.2M	-13.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.27	1.16	0.39	0.44
Total Volume	115,014.952	40,361	220,795	57,148	75,106
Total OI	2,645,210.952	2,521,182	2,843,691	2,580,740	2,695,320

Daily Data (21 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
2021-07-01	$34.00	$36.00	27.3%	7.5%	25.7%	1.8%	26.4%	0.9%	0.6%	13.6M	271.3M	-13.2M	0.39	1.98	41,051	16,097	1,603,448	977,292
2021-07-02	$34.47	$36.00	25.8%	6.7%	25.8%	0.0%	24.2%	0.7%	0.8%	33.5M	94.2M	-13.3M	0.58	2.01	61,227	35,790	1,616,121	987,365
2021-07-06	$34.52	$36.00	27.3%	8.0%	25.9%	6.1%	28.5%	0.6%	0.5%	18.8M	94.2M	-13.2M	0.70	2.03	75,236	52,352	1,588,176	964,624
2021-07-07	$34.59	$36.00	27.0%	7.9%	25.8%	4.9%	28.1%	0.6%	0.4%	17.7M	102.8M	-13.2M	0.27	2.02	31,710	8,651	1,597,203	984,899
2021-07-08	$33.55	$36.00	28.4%	8.2%	27.3%	10.4%	28.8%	0.7%	0.3%	-965.6K	508.6M	-12.4M	0.58	1.86	122,074	70,847	1,599,012	987,230
2021-07-09	$34.41	$36.00	26.3%	7.7%	28.1%	2.1%	27.4%	0.7%	0.4%	15.9M	155.4M	-13.2M	0.65	2.18	72,868	47,602	1,637,049	1,021,628
2021-07-12	$33.95	$36.00	26.4%	7.7%	28.1%	2.5%	27.8%	-0.3%	0.3%	3.2M	364.4M	-12.9M	0.44	7.39	57,820	25,305	1,629,924	1,020,454
2021-07-13	$34.31	$36.00	26.6%	7.7%	28.7%	3.3%	27.6%	0.3%	0.3%	17.0M	220.6M	-13.1M	0.33	1.94	127,859	41,724	1,658,108	1,030,468
2021-07-14	$34.80	$36.00	27.1%	7.8%	29.4%	5.2%	30.0%	0.2%	0.1%	33.8M	-43.5M	-13.4M	1.16	1.99	49,399	57,054	1,672,704	1,040,616
2021-07-15	$35.00	$36.00	26.9%	7.8%	29.0%	4.2%	27.7%	0.6%	0.3%	48.6M	-139.8M	-13.6M	0.31	2.16	112,685	34,461	1,690,787	1,066,654
2021-07-16	$33.97	$36.00	27.9%	8.0%	23.8%	8.5%	28.8%	1.5%	-0.1%	-2.6M	385.0M	-13.3M	0.77	2.28	105,954	81,869	1,756,007	1,087,684
2021-07-19	$33.10	$36.00	31.5%	9.0%	24.5%	23.0%	31.8%	3.1%	-0.1%	-2.2M	519.7M	-12.8M	0.66	2.56	126,426	82,814	1,536,204	984,978
2021-07-20	$33.24	$35.00	28.6%	8.2%	23.6%	11.3%	29.0%	1.5%	0.4%	600.7K	440.5M	-13.0M	0.71	2.28	59,364	41,873	1,573,431	1,017,184
2021-07-21	$33.64	$35.00	27.4%	7.9%	24.1%	6.4%	28.1%	1.7%	0.2%	6.7M	299.9M	-13.2M	0.35	2.44	52,682	18,365	1,592,326	1,031,993
2021-07-22	$33.49	$35.00	26.8%	7.6%	24.1%	3.8%	26.5%	1.8%	0.3%	6.2M	373.3M	-13.0M	0.56	2.51	47,282	26,443	1,614,661	1,041,455
2021-07-23	$33.18	$35.00	26.5%	7.6%	24.2%	2.9%	26.0%	2.2%	0.4%	1.5M	528.3M	-12.6M	0.27	2.21	113,131	30,180	1,627,642	1,049,488
2021-07-26	$33.51	$35.00	27.3%	7.8%	24.6%	5.9%	27.2%	2.0%	0.3%	9.1M	311.8M	-12.8M	0.59	2.19	43,284	25,680	1,591,259	1,010,426
2021-07-27	$33.60	$35.00	28.2%	8.1%	24.2%	9.7%	28.4%	2.1%	0.4%	16.6M	245.0M	-13.0M	0.28	2.48	44,606	12,679	1,628,480	1,016,409
2021-07-28	$34.09	$35.00	27.1%	7.6%	24.6%	5.2%	26.9%	1.7%	0.3%	38.3M	16.7M	-13.3M	0.46	2.71	44,412	20,557	1,635,029	1,016,902
2021-07-29	$35.08	$35.00	27.1%	7.6%	26.3%	5.4%	27.0%	1.1%	0.4%	57.7M	-513.9M	-13.9M	0.34	2.28	164,190	56,605	1,647,441	1,021,349
2021-07-30	$34.91	$35.00	27.8%	7.7%	26.4%	8.4%	27.4%	0.8%	0.5%	75.0M	-457.3M	-13.9M	0.44	2.93	52,303	22,803	1,666,944	1,028,376