GDX Options History — April 2022

In April 2022, GDX traded between $34.78 and $40.91. ATM implied volatility averaged 36.8%, placing in the 44.9% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 6.7% (HV 20d: 30.0%). Max pain ranged from $37.00 to $38.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.47.

Notable Days

2022-04-25: Highest Volume — 261,576 contracts
2022-04-21: Largest IV spike — 7.8% change
2022-04-26: Highest IV Rank — 66.9%
2022-04-26: Largest Expected Move — 12.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$38.30	$34.78	$40.91	$39.47	$35.20
Max Pain	$37.90	$37.00	$38.00	$37.00	$38.00
ATM IV	36.8%	34.0%	42.1%	35.3%	38.8%
Expected Move	10.6%	9.8%	12.4%	10.1%	11.3%
HV 20d	30.0%	24.6%	35.5%	30.1%	34.6%
HV 60d	36.1%	33.9%	37.8%	37.8%	35.6%
IV Rank	44.9%	33.6%	66.9%	38.8%	53.2%
IV Percentile	86.8%	79.4%	97.2%	83.7%	92.5%
Term Structure	-0.3%	-1.3%	0.6%	0.2%	-0.8%
VWIV	37.8%	34.7%	44.1%	36.8%	39.8%
Skew 25d	0.1%	-1.8%	2.7%	-1.8%	2.6%
Skew 10d	-0.4%	-4.4%	5.4%	-3.8%	4.7%
Call IV 25d	37.8%	35.5%	41.9%	37.4%	38.7%
Put IV 25d	38.0%	34.7%	44.5%	35.6%	41.4%
Bid-Ask Spread %	3.86	2.16	25.83	3.03	3.13
Gamma HHI	0.08	0.06	0.17	0.08	0.06
Net GEX	55.6M	18.5M	103.5M	66.7M	26.1M
Net DEX	-1.45B	-2.52B	-243.2M	-1.95B	-384.3M
Net VEX	-14.0M	-14.7M	-13.1M	-14.5M	-13.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.47	0.12	0.94	0.30	0.23
Total Volume	138,107.85	62,439	261,576	162,473	191,092
Total OI	2,241,202.25	2,119,833	2,448,809	2,158,854	2,448,809

Daily Data (20 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
2022-04-01	$39.47	$37.00	35.3%	10.1%	30.1%	38.8%	36.8%	-1.8%	0.2%	66.7M	-1.95B	-14.5M	0.30	3.03	125,234	37,239	1,354,757	804,097
2022-04-04	$38.99	$37.00	35.2%	10.1%	29.5%	38.3%	35.8%	-1.8%	0.3%	65.0M	-1.77B	-14.3M	0.62	2.93	64,711	40,141	1,378,480	789,525
2022-04-05	$38.19	$38.00	34.0%	9.8%	30.5%	33.6%	34.7%	-0.8%	-0.1%	56.3M	-1.47B	-14.0M	0.43	2.60	83,041	35,666	1,394,689	804,464
2022-04-06	$38.10	$38.00	34.5%	9.8%	30.3%	35.5%	35.4%	-0.8%	0.2%	52.5M	-1.38B	-14.1M	0.50	2.68	53,869	27,094	1,383,612	815,539
2022-04-07	$38.67	$38.00	34.1%	9.8%	29.8%	34.0%	35.7%	-0.8%	-0.1%	63.1M	-1.63B	-14.1M	0.76	2.71	35,465	26,974	1,390,697	817,710
2022-04-08	$39.71	$38.00	35.4%	10.2%	30.6%	39.5%	36.4%	-1.7%	-0.2%	71.9M	-2.03B	-14.2M	0.57	2.16	83,660	48,096	1,393,153	824,593
2022-04-11	$39.47	$38.00	36.1%	10.2%	25.7%	42.2%	36.5%	-1.1%	-0.2%	71.6M	-1.92B	-13.9M	0.39	2.72	72,610	28,581	1,392,597	815,080
2022-04-12	$39.84	$38.00	36.5%	10.4%	25.8%	43.9%	37.3%	-1.6%	-0.2%	80.0M	-2.08B	-14.2M	0.25	2.44	106,274	26,873	1,410,882	821,040
2022-04-13	$40.58	$38.00	34.5%	10.0%	26.3%	35.8%	36.3%	-1.5%	0.6%	90.6M	-2.42B	-14.2M	0.43	3.97	161,186	69,472	1,434,637	827,095
2022-04-14	$40.83	$38.00	35.1%	10.1%	25.5%	38.2%	36.1%	-0.9%	0.5%	103.5M	-2.52B	-14.7M	0.44	2.46	73,109	31,813	1,499,741	855,526
2022-04-18	$40.91	$38.00	36.3%	10.4%	24.6%	43.1%	37.5%	-1.4%	-0.2%	72.5M	-2.25B	-14.5M	0.62	2.45	58,601	36,374	1,348,827	771,006
2022-04-19	$39.55	$38.00	34.9%	10.0%	26.9%	37.4%	35.8%	0.0%	-0.3%	60.0M	-1.72B	-14.1M	0.94	2.63	60,460	57,014	1,362,272	786,853
2022-04-20	$40.16	$38.00	34.8%	10.0%	26.9%	36.8%	35.6%	0.2%	-0.6%	68.0M	-1.91B	-14.4M	0.71	2.55	52,158	37,231	1,372,503	809,735
2022-04-21	$38.25	$38.00	37.5%	10.7%	31.4%	47.9%	37.8%	2.2%	0.3%	42.8M	-1.25B	-14.2M	0.42	2.71	122,162	51,816	1,380,251	822,523
2022-04-22	$37.12	$38.00	38.9%	11.2%	33.1%	53.4%	39.3%	1.8%	-0.8%	34.9M	-838.3M	-13.9M	0.49	25.83	138,687	67,976	1,394,094	830,540
2022-04-25	$35.73	$38.00	40.7%	11.9%	35.5%	60.9%	41.8%	2.7%	-0.7%	24.3M	-461.9M	-13.1M	0.42	3.13	184,134	77,442	1,385,575	824,091
2022-04-26	$35.05	$38.00	42.1%	12.4%	34.9%	66.9%	44.1%	2.6%	-1.3%	19.3M	-306.5M	-13.2M	0.52	2.59	57,789	30,039	1,483,353	845,858
2022-04-27	$34.78	$38.00	41.0%	12.1%	34.2%	62.1%	43.7%	2.6%	-0.8%	18.5M	-243.2M	-13.2M	0.12	2.36	84,374	10,072	1,493,033	848,361
2022-04-28	$35.43	$38.00	39.4%	11.5%	34.6%	55.9%	40.6%	2.1%	-0.8%	24.1M	-439.2M	-13.6M	0.24	2.20	172,259	41,369	1,557,305	851,142
2022-04-29	$35.20	$38.00	38.8%	11.3%	34.6%	53.2%	39.8%	2.6%	-0.8%	26.1M	-384.3M	-13.5M	0.23	3.13	155,165	35,927	1,584,097	864,712