GDX Options History — August 2021

In August 2021, GDX traded between $30.85 and $35.01. ATM implied volatility averaged 28.4%, placing in the 11.0% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 1.3% (HV 20d: 27.1%). Max pain ranged from $33.50 to $35.00. Net GEX was positive for 9 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 0.56.

Notable Days

2021-08-06: Highest Volume — 240,180 contracts
2021-08-27: Largest IV drop — 5.8% change
2021-08-19: Highest IV Rank — 18.6%
2021-08-19: Largest Expected Move — 8.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.61	$30.85	$35.01	$34.85	$32.59
Max Pain	$34.11	$33.50	$35.00	$35.00	$33.50
ATM IV	28.4%	27.3%	30.2%	28.3%	27.4%
Expected Move	8.1%	7.6%	8.7%	7.9%	7.6%
HV 20d	27.1%	24.4%	31.4%	26.0%	31.4%
HV 60d	26.5%	25.1%	27.7%	26.6%	27.7%
IV Rank	11.0%	6.2%	18.6%	10.4%	6.6%
IV Percentile	14.7%	5.6%	27.0%	11.5%	6.7%
Term Structure	0.4%	-0.1%	1.0%	-0.0%	0.3%
VWIV	29.0%	26.7%	31.9%	28.3%	26.7%
Skew 25d	1.7%	0.4%	2.9%	0.4%	2.1%
Skew 10d	4.8%	2.7%	8.3%	2.7%	4.4%
Call IV 25d	28.3%	26.8%	29.9%	28.7%	27.1%
Put IV 25d	30.0%	28.5%	32.7%	29.1%	29.3%
Bid-Ask Spread %	2.24	1.80	2.91	2.91	2.02
Gamma HHI	0.07	0.06	0.10	0.07	0.06
Net GEX	3.5M	-26.1M	49.2M	41.7M	10.2M
Net DEX	519.0M	-352.5M	1.18B	-305.6M	371.9M
Net VEX	-12.7M	-14.0M	-11.4M	-13.8M	-12.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.11	1.20	0.11	0.45
Total Volume	105,570.773	35,842	240,180	137,053	52,305
Total OI	2,830,226.727	2,626,664	3,024,028	2,650,827	2,788,980

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
2021-08-02	$34.85	$35.00	28.3%	7.9%	26.0%	10.4%	28.3%	0.4%	-0.0%	41.7M	-305.6M	-13.8M	0.11	2.91	123,942	13,111	1,638,435	1,012,392
2021-08-03	$35.01	$35.00	28.6%	7.9%	26.0%	11.7%	28.4%	0.8%	-0.1%	46.0M	-343.0M	-13.8M	0.46	2.91	54,420	25,019	1,655,150	1,020,023
2021-08-04	$34.84	$35.00	28.5%	7.8%	26.1%	11.1%	28.1%	1.3%	-0.1%	49.2M	-352.5M	-14.0M	0.63	2.78	75,776	47,988	1,735,647	1,027,687
2021-08-05	$34.25	$34.00	28.1%	8.1%	24.4%	9.5%	29.2%	1.1%	-0.1%	33.6M	-64.3M	-13.7M	0.79	1.87	65,352	51,743	1,754,641	1,040,817
2021-08-06	$33.22	$34.00	27.8%	8.1%	25.0%	8.4%	29.6%	1.2%	0.1%	-1.8M	490.2M	-13.0M	0.65	2.23	145,423	94,757	1,754,283	1,067,147
2021-08-09	$32.47	$34.00	28.0%	8.1%	25.8%	9.2%	29.1%	1.3%	0.2%	-4.9M	677.5M	-12.3M	1.20	2.22	76,439	91,602	1,740,914	1,031,735
2021-08-10	$32.02	$34.00	28.4%	8.2%	25.7%	10.8%	30.0%	1.9%	0.1%	-10.2M	814.9M	-12.4M	0.32	1.80	78,315	25,178	1,796,523	1,069,162
2021-08-11	$32.67	$34.00	27.4%	8.0%	26.3%	6.6%	28.9%	1.5%	0.6%	950.7K	620.1M	-13.0M	0.43	1.82	48,121	20,849	1,827,841	1,104,322
2021-08-12	$32.11	$34.00	27.4%	8.0%	26.5%	6.9%	28.8%	1.6%	0.7%	-10.5M	819.6M	-12.6M	1.07	1.99	54,112	57,734	1,845,418	1,109,735
2021-08-13	$32.84	$34.00	27.3%	8.0%	26.4%	6.2%	29.4%	1.7%	1.0%	5.2M	546.7M	-13.2M	0.57	1.99	52,136	29,523	1,852,372	1,117,452
2021-08-16	$32.68	$34.00	27.8%	8.0%	24.8%	8.3%	28.6%	1.4%	0.9%	2.9M	588.5M	-13.0M	0.51	2.10	25,998	13,131	1,833,944	1,119,878
2021-08-17	$32.18	$34.00	28.7%	8.2%	25.3%	12.3%	29.3%	2.1%	0.5%	-10.5M	805.8M	-12.4M	0.33	2.03	57,447	19,139	1,840,546	1,127,886
2021-08-18	$31.52	$34.00	29.6%	8.5%	25.6%	16.1%	30.3%	2.8%	0.7%	-20.8M	1.02B	-11.7M	0.62	2.89	89,499	55,121	1,849,261	1,130,717
2021-08-19	$31.01	$34.00	30.2%	8.7%	26.0%	18.6%	30.5%	1.8%	0.1%	-26.1M	1.16B	-11.4M	0.56	1.94	54,031	30,078	1,830,630	1,129,701
2021-08-20	$30.85	$34.00	29.8%	8.5%	25.9%	17.0%	31.9%	2.9%	0.6%	-25.9M	1.18B	-11.6M	0.97	2.15	70,854	68,501	1,878,499	1,145,529
2021-08-23	$32.17	$34.00	29.3%	8.2%	30.3%	15.0%	29.1%	1.9%	0.4%	-2.9M	527.3M	-12.5M	0.36	2.31	100,861	36,588	1,593,854	1,032,810
2021-08-24	$32.15	$34.00	28.5%	7.9%	30.2%	11.5%	28.1%	1.8%	0.2%	-2.6M	523.6M	-12.6M	0.46	2.49	24,480	11,362	1,632,117	1,066,964
2021-08-25	$31.70	$34.00	28.8%	8.1%	29.8%	12.6%	28.4%	1.7%	0.4%	-5.3M	699.6M	-12.2M	0.33	2.22	54,577	18,169	1,678,340	1,084,407
2021-08-26	$31.48	$34.00	29.8%	8.3%	27.3%	16.6%	29.5%	2.2%	0.4%	-7.4M	741.8M	-12.3M	0.88	2.37	42,701	37,609	1,684,474	1,088,907
2021-08-27	$32.58	$34.00	28.0%	7.7%	30.7%	9.4%	27.3%	1.8%	0.6%	16.8M	348.9M	-12.9M	0.26	2.24	121,020	31,308	1,685,604	1,096,526
2021-08-30	$32.15	$34.00	27.5%	7.6%	30.9%	7.2%	28.8%	1.5%	0.5%	-435.1K	544.3M	-12.4M	0.44	1.94	52,933	23,305	1,645,668	1,098,050
2021-08-31	$32.59	$33.50	27.4%	7.6%	31.4%	6.6%	26.7%	2.1%	0.3%	10.2M	371.9M	-12.7M	0.45	2.02	36,192	16,113	1,675,142	1,113,838