GDX Options History — February 2022

In February 2022, GDX traded between $30.26 and $34.92. ATM implied volatility averaged 35.3%, placing in the 49.6% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 6.7% (HV 20d: 42.0%). Max pain ranged from $30.50 to $32.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.57.

Notable Days

2022-02-14: Highest Volume — 414,328 contracts
2022-02-11: Largest IV spike — 12.5% change
2022-02-28: Highest IV Rank — 78.8%
2022-02-28: Largest Expected Move — 11.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.61	$30.26	$34.92	$30.46	$34.34
Max Pain	$31.87	$30.50	$32.00	$30.50	$32.00
ATM IV	35.3%	30.8%	39.0%	33.8%	39.0%
Expected Move	10.2%	8.9%	11.5%	10.1%	11.5%
HV 20d	42.0%	37.3%	47.3%	42.3%	37.3%
HV 60d	33.7%	31.1%	36.2%	31.7%	35.6%
IV Rank	49.6%	25.7%	78.8%	41.4%	78.8%
IV Percentile	85.6%	58.3%	98.0%	80.6%	98.0%
Term Structure	-0.3%	-0.9%	0.4%	-0.5%	-0.7%
VWIV	36.7%	31.7%	41.4%	37.3%	41.4%
Skew 25d	1.3%	-0.5%	3.2%	2.9%	-0.5%
Skew 10d	3.0%	0.3%	6.8%	6.8%	0.7%
Call IV 25d	35.7%	31.1%	40.0%	33.2%	40.0%
Put IV 25d	37.1%	32.6%	40.3%	36.1%	39.5%
Bid-Ask Spread %	2.56	1.93	3.64	3.64	2.75
Gamma HHI	0.08	0.07	0.11	0.07	0.08
Net GEX	30.3M	-5.8M	59.3M	5.5M	41.9M
Net DEX	-521.5M	-1.47B	229.5M	156.8M	-942.5M
Net VEX	-11.0M	-13.0M	-9.1M	-9.2M	-12.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.57	0.14	1.20	1.10	0.55
Total Volume	133,318.474	55,442	414,328	64,871	64,686
Total OI	1,862,650.316	1,657,161	2,163,081	1,657,161	1,998,323

Daily Data (19 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
2022-02-01	$30.46	$30.50	33.8%	10.1%	42.3%	41.4%	37.3%	2.9%	-0.5%	5.5M	156.8M	-9.2M	1.10	3.64	30,945	33,926	940,211	716,950
2022-02-02	$30.70	$31.00	32.3%	9.6%	42.3%	33.3%	35.0%	2.6%	-0.0%	6.6M	99.4M	-9.4M	0.59	2.50	34,784	20,658	940,797	728,251
2022-02-03	$30.26	$32.00	33.5%	9.6%	42.2%	39.9%	33.7%	3.1%	-0.1%	249.5K	229.5M	-9.1M	0.57	2.15	43,689	24,993	942,267	736,032
2022-02-04	$30.42	$32.00	33.0%	9.6%	39.9%	37.1%	33.3%	3.2%	-0.2%	-5.8M	190.9M	-9.2M	0.73	2.43	51,209	37,294	962,116	743,218
2022-02-07	$31.30	$32.00	33.2%	9.6%	41.1%	38.0%	34.1%	2.2%	0.4%	14.7M	-75.2M	-9.5M	0.50	2.65	64,324	32,213	938,467	735,504
2022-02-08	$31.58	$32.00	31.9%	9.3%	40.8%	31.5%	33.2%	2.2%	0.3%	20.6M	-157.9M	-9.7M	1.20	2.41	67,974	81,556	949,221	737,830
2022-02-09	$31.58	$32.00	30.8%	8.9%	40.3%	25.7%	31.7%	1.5%	-0.0%	27.3M	-186.3M	-9.8M	0.46	1.93	64,101	29,634	987,378	729,956
2022-02-10	$30.57	$32.00	32.3%	9.2%	41.3%	33.3%	32.8%	1.6%	-0.1%	6.7M	108.3M	-9.5M	0.97	2.21	42,811	41,410	1,007,916	734,929
2022-02-11	$32.53	$32.00	36.3%	10.3%	46.9%	54.2%	37.2%	0.9%	-0.5%	45.7M	-538.7M	-10.5M	0.33	2.94	155,384	50,724	1,019,867	738,228
2022-02-14	$33.10	$32.00	37.5%	10.8%	47.0%	60.7%	38.5%	0.7%	-0.9%	40.9M	-684.7M	-10.6M	0.14	2.62	361,846	52,482	1,012,329	734,918
2022-02-15	$32.44	$32.00	35.5%	10.2%	47.3%	50.1%	36.8%	0.8%	-0.8%	44.8M	-553.0M	-11.5M	0.31	2.55	100,194	30,613	1,269,515	756,209
2022-02-16	$33.59	$32.00	35.9%	10.3%	41.3%	52.0%	36.7%	0.7%	-0.5%	55.9M	-994.7M	-12.1M	0.62	2.45	82,983	51,042	1,303,779	763,489
2022-02-17	$34.92	$32.00	38.3%	11.0%	43.0%	64.8%	39.4%	0.7%	-0.6%	59.3M	-1.47B	-12.9M	0.39	2.63	219,280	85,119	1,314,788	787,145
2022-02-18	$34.52	$32.00	37.4%	10.7%	42.0%	59.9%	38.6%	1.6%	-0.2%	40.8M	-1.28B	-13.0M	0.45	2.62	74,246	33,203	1,338,765	824,316
2022-02-22	$34.17	$32.00	37.4%	10.9%	42.0%	60.0%	38.8%	0.9%	-0.4%	40.3M	-916.3M	-12.6M	0.40	2.79	65,748	26,307	1,250,334	718,991
2022-02-23	$34.74	$32.00	38.1%	11.2%	42.1%	63.4%	40.4%	0.5%	-0.0%	46.9M	-1.10B	-12.8M	0.48	2.05	62,751	30,026	1,258,682	726,672
2022-02-24	$34.03	$32.00	38.0%	11.1%	40.6%	63.2%	39.4%	-0.1%	-0.4%	40.4M	-853.9M	-12.6M	0.38	2.85	120,471	46,000	1,274,032	734,267
2022-02-25	$34.37	$32.00	36.4%	10.6%	38.5%	54.9%	38.4%	-0.1%	-0.5%	43.4M	-941.8M	-12.7M	0.77	2.51	66,973	51,452	1,288,818	745,846
2022-02-28	$34.34	$32.00	39.0%	11.5%	37.3%	78.8%	41.4%	-0.5%	-0.7%	41.9M	-942.5M	-12.6M	0.55	2.75	41,837	22,849	1,274,024	724,299