GDX Options History — November 2021

In November 2021, GDX traded between $31.47 and $34.90. ATM implied volatility averaged 30.7%, placing in the 25.2% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded above realized volatility by 8.0% (HV 20d: 22.7%). Max pain ranged from $31.00 to $34.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.49.

Notable Days

  • 2021-11-11: Highest Volume — 464,098 contracts
  • 2021-11-26: Largest IV spike — 9.1% change
  • 2021-11-26: Highest IV Rank — 46.7%
  • 2021-11-30: Largest Expected Move — 9.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.10$31.47$34.90$31.84$32.00
Max Pain$33.05$31.00$34.00$31.00$33.00
ATM IV30.7%28.2%34.8%28.2%33.9%
Expected Move8.8%8.3%9.9%8.3%9.9%
HV 20d22.7%21.2%24.3%21.2%22.3%
HV 60d24.8%23.1%26.1%26.1%23.1%
IV Rank25.2%12.2%46.7%12.2%41.6%
IV Percentile47.1%21.8%70.2%21.8%68.7%
Term Structure0.2%-1.3%2.5%0.2%-0.3%
VWIV31.5%29.2%36.2%29.2%36.2%
Skew 25d0.3%-0.6%1.3%1.1%0.4%
Skew 10d0.4%-1.5%3.1%1.9%-0.7%
Call IV 25d31.0%28.5%34.9%28.5%33.5%
Put IV 25d31.3%29.6%35.5%29.6%34.0%
Bid-Ask Spread %12.911.9734.9631.732.66
Gamma HHI0.090.060.120.070.08
Net GEX55.7M1.4M120.5M6.1M32.4M
Net DEX-478.1M-1.79B484.4M338.3M223.4M
Net VEX-13.1M-15.2M-11.7M-12.0M-11.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.490.181.110.770.28
Total Volume189,964.23880,003464,098115,130156,285
Total OI3,209,823.192,735,6883,538,1622,735,6883,230,109

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-11-01$31.84$31.0028.2%8.3%21.2%12.2%29.2%1.1%0.2%6.1M338.3M-12.0M0.7731.7365,09350,0371,616,7471,118,941
2021-11-02$31.47$31.0028.5%8.3%21.9%13.9%29.3%1.3%0.2%1.4M484.4M-11.9M0.9934.9657,98657,1741,647,3311,133,041
2021-11-03$31.96$31.0028.4%8.3%22.0%13.3%29.4%1.0%0.0%7.8M296.5M-11.8M0.6431.9770,49945,2351,668,4031,148,681
2021-11-04$31.76$34.0028.9%8.3%22.2%15.7%30.6%0.7%0.1%9.0M303.2M-12.2M0.206.37228,67344,7231,700,1711,156,445
2021-11-05$32.70$34.0030.2%8.8%24.0%22.7%31.9%0.4%0.2%35.7M-268.0M-13.2M0.216.07244,97551,1211,861,9861,163,694
2021-11-08$32.84$33.0030.3%8.8%24.0%23.4%31.2%-0.4%0.4%48.8M-380.5M-13.5M0.312.28130,85340,1961,938,3051,151,528
2021-11-09$33.27$33.0030.4%8.8%23.8%23.9%31.1%0.4%0.2%60.2M-628.7M-13.8M1.112.2659,10665,5261,986,1661,158,115
2021-11-10$33.88$33.0030.6%8.9%22.0%24.8%32.3%-0.2%0.6%72.6M-1.02B-14.1M0.272.40257,86669,3742,000,1251,173,013
2021-11-11$34.67$33.0030.4%8.9%22.2%23.5%31.5%-0.2%0.6%89.2M-1.51B-14.5M0.2113.09385,03479,0642,075,2861,188,017
2021-11-12$34.76$33.0030.2%8.8%21.5%22.5%31.5%-0.5%0.6%110.4M-1.75B-15.2M0.182.33283,63450,7262,275,3061,210,655
2021-11-15$34.90$33.0030.7%8.8%21.2%25.3%31.3%-0.6%1.1%120.5M-1.79B-15.1M0.279.71117,18731,7502,328,4351,190,433
2021-11-16$34.38$34.0030.2%8.7%22.3%22.6%30.9%-0.5%0.6%108.8M-1.37B-14.4M0.701.9757,78940,6332,309,8191,201,133
2021-11-17$34.61$34.0030.0%8.6%22.0%21.6%30.6%-0.3%1.2%110.2M-1.46B-14.0M0.442.3188,17038,6102,308,4871,212,211
2021-11-18$34.17$34.0029.2%8.3%22.5%17.6%29.4%0.1%1.6%98.5M-1.13B-13.9M0.842.7651,80043,4712,311,7671,221,932
2021-11-19$33.70$34.0030.0%8.4%22.9%21.8%30.4%0.1%2.5%64.3M-781.5M-13.2M0.4730.72149,79569,9522,320,7581,217,404
2021-11-22$33.01$34.0031.6%8.7%23.8%30.2%32.2%0.1%-1.0%50.1M-195.0M-12.7M0.3232.26295,41693,6642,121,7481,073,189
2021-11-23$32.52$33.0032.6%8.9%24.3%35.3%32.2%0.6%-1.3%40.1M47.6M-12.5M0.6722.1586,83058,3882,169,9841,076,950
2021-11-24$32.42$33.0031.9%8.7%24.3%31.7%30.8%1.3%-0.9%38.1M116.8M-12.2M0.6714.9459,73840,1052,164,4231,095,066
2021-11-26$32.09$33.0034.8%9.8%23.7%46.7%34.9%0.6%-1.1%31.9M221.7M-12.1M0.463.2963,40229,3662,166,0921,095,109
2021-11-29$32.14$33.0033.2%9.4%22.2%38.2%34.5%1.0%-0.6%33.0M209.6M-11.7M0.4014.9057,27122,7322,139,4151,079,867
2021-11-30$32.00$33.0033.9%9.9%22.3%41.6%36.2%0.4%-0.3%32.4M223.4M-11.7M0.282.66122,00034,2852,148,1151,081,994