GDX Options History — December 2021

In December 2021, GDX traded between $29.65 and $32.07. ATM implied volatility averaged 31.6%, placing in the 30.2% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 7.2% (HV 20d: 24.4%). Max pain ranged from $33.00 to $34.00. Net GEX was positive for 15 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.48.

Notable Days

2021-12-17: Highest Volume — 230,124 contracts
2021-12-07: Largest IV drop — 7.0% change
2021-12-03: Highest IV Rank — 63.0%
2021-12-03: Largest Expected Move — 11.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$30.95	$29.65	$32.07	$31.02	$32.07
Max Pain	$33.41	$33.00	$34.00	$33.00	$33.00
ATM IV	31.6%	26.6%	38.0%	36.0%	26.6%
Expected Move	9.1%	7.4%	11.4%	10.8%	7.4%
HV 20d	24.4%	19.4%	27.5%	24.6%	25.1%
HV 60d	23.4%	21.8%	24.2%	23.1%	23.7%
IV Rank	30.2%	4.1%	63.0%	53.0%	4.1%
IV Percentile	53.3%	2.0%	88.5%	76.2%	2.0%
Term Structure	-0.0%	-1.6%	0.4%	-0.5%	0.2%
VWIV	33.6%	27.7%	41.2%	38.0%	29.3%
Skew 25d	1.6%	-0.7%	3.1%	1.7%	1.5%
Skew 10d	3.1%	-2.8%	9.5%	2.2%	3.2%
Call IV 25d	31.9%	26.7%	37.0%	35.0%	26.7%
Put IV 25d	33.6%	28.2%	39.6%	36.7%	28.2%
Bid-Ask Spread %	7.07	1.74	19.17	3.21	6.78
Gamma HHI	0.08	0.07	0.16	0.07	0.16
Net GEX	5.7M	-22.4M	46.6M	9.2M	46.6M
Net DEX	595.5M	-64.2M	1.25B	678.0M	-64.2M
Net VEX	-10.1M	-10.9M	-9.0M	-10.9M	-10.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.48	0.23	1.00	1.00	0.47
Total Volume	121,732.273	74,552	230,124	138,067	103,420
Total OI	3,033,704.455	2,584,409	3,507,866	3,222,512	2,646,201

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
2021-12-01	$31.02	$33.00	36.0%	10.8%	24.6%	53.0%	38.0%	1.7%	-0.5%	9.2M	678.0M	-10.9M	1.00	3.21	69,101	68,966	2,132,372	1,090,140
2021-12-02	$30.55	$33.00	36.1%	10.9%	24.4%	53.0%	39.4%	3.1%	-0.9%	-3.2M	902.7M	-10.4M	0.61	8.86	98,596	60,340	2,143,597	1,101,520
2021-12-03	$30.58	$33.00	38.0%	11.4%	24.3%	63.0%	41.2%	2.7%	-1.6%	5.7M	786.3M	-10.9M	0.41	2.99	92,433	37,697	2,157,599	1,111,062
2021-12-06	$31.07	$34.00	35.4%	9.8%	22.5%	49.9%	34.8%	1.3%	0.4%	8.1M	635.1M	-10.7M	0.40	17.75	61,656	24,703	2,150,408	1,108,208
2021-12-07	$31.29	$34.00	33.0%	9.4%	22.6%	36.9%	34.2%	2.2%	-0.2%	8.7M	589.2M	-10.7M	0.38	2.94	85,575	32,902	2,164,954	1,111,165
2021-12-08	$31.47	$34.00	31.1%	8.9%	22.1%	27.2%	32.2%	2.1%	0.1%	9.2M	577.5M	-10.5M	0.76	16.04	42,479	32,073	2,177,832	1,118,147
2021-12-09	$30.63	$34.00	31.8%	9.1%	22.2%	30.8%	33.9%	2.1%	0.4%	-10.8M	898.3M	-9.9M	0.66	14.93	71,051	46,701	2,182,265	1,120,885
2021-12-10	$30.46	$34.00	30.7%	8.8%	19.6%	25.2%	33.6%	2.0%	0.3%	-22.4M	986.4M	-9.7M	0.74	15.39	50,090	37,109	2,211,038	1,134,691
2021-12-13	$30.56	$34.00	31.6%	8.9%	19.6%	30.1%	33.5%	1.7%	0.2%	-15.0M	940.6M	-9.6M	0.61	15.74	58,095	35,212	2,183,384	1,113,904
2021-12-14	$30.16	$34.00	31.8%	9.1%	19.4%	31.1%	34.1%	1.8%	-0.1%	-15.2M	1.05B	-9.3M	0.67	10.76	54,814	36,926	2,219,482	1,116,333
2021-12-15	$29.65	$34.00	32.5%	9.1%	19.5%	34.7%	33.1%	0.5%	-0.3%	-19.9M	1.25B	-9.0M	0.52	19.17	119,955	62,730	2,241,790	1,129,111
2021-12-16	$31.08	$33.00	32.1%	9.0%	27.2%	32.4%	33.9%	-0.7%	-0.1%	-2.0M	617.9M	-9.8M	0.32	2.17	122,434	38,918	2,300,045	1,157,583
2021-12-17	$31.15	$33.00	31.8%	9.0%	27.1%	31.0%	33.1%	-0.7%	-0.2%	12.1M	518.9M	-10.1M	0.23	1.74	186,986	43,138	2,345,115	1,162,751
2021-12-20	$30.52	$34.00	33.7%	9.6%	27.5%	40.8%	35.3%	3.0%	0.3%	4.9M	595.9M	-10.0M	0.37	2.11	99,320	36,634	1,594,340	990,069
2021-12-21	$30.79	$33.00	31.7%	9.1%	27.3%	30.2%	35.4%	2.1%	0.3%	9.2M	489.3M	-10.3M	0.35	1.84	117,265	40,795	1,625,326	1,000,654
2021-12-22	$31.13	$33.00	30.6%	8.8%	27.4%	24.8%	35.1%	2.2%	0.1%	11.6M	358.2M	-10.2M	0.31	2.19	66,009	20,279	1,604,789	992,138
2021-12-23	$31.28	$33.00	29.2%	8.4%	27.5%	17.6%	30.8%	1.4%	0.1%	17.1M	288.9M	-10.1M	0.35	2.37	88,138	31,178	1,622,254	990,688
2021-12-27	$31.31	$33.00	29.3%	8.3%	27.3%	18.3%	33.2%	1.8%	0.1%	16.6M	277.8M	-9.9M	0.28	2.06	72,576	20,427	1,609,526	981,903
2021-12-28	$31.14	$33.00	28.7%	8.2%	27.3%	15.1%	29.4%	1.6%	0.0%	14.6M	347.1M	-10.0M	0.33	2.27	80,500	26,470	1,648,765	995,250
2021-12-29	$31.22	$33.00	27.4%	7.8%	27.4%	7.9%	28.3%	1.1%	0.3%	14.3M	315.9M	-9.8M	0.31	2.34	82,503	25,180	1,631,609	993,151
2021-12-30	$31.80	$33.00	27.0%	7.6%	25.8%	6.3%	27.7%	1.4%	0.3%	26.9M	62.6M	-10.0M	0.39	1.88	69,714	27,022	1,636,424	993,030
2021-12-31	$32.07	$33.00	26.6%	7.4%	25.1%	4.1%	29.3%	1.5%	0.2%	46.6M	-64.2M	-10.1M	0.47	6.78	70,131	33,289	1,649,185	997,016