GDX Options History — May 2022

In May 2022, GDX traded between $30.13 and $35.82. ATM implied volatility averaged 39.7%, placing in the 56.9% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 0.3% (HV 20d: 39.4%). Max pain ranged from $34.00 to $38.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.70.

Notable Days

2022-05-02: Highest Volume — 278,128 contracts
2022-05-09: Largest IV spike — 10.0% change
2022-05-12: Highest IV Rank — 81.9%
2022-05-12: Largest Expected Move — 13.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.48	$30.13	$35.82	$34.46	$31.81
Max Pain	$34.98	$34.00	$38.00	$38.00	$34.00
ATM IV	39.7%	34.7%	45.8%	39.8%	36.0%
Expected Move	11.5%	10.1%	13.1%	12.2%	10.8%
HV 20d	39.4%	33.5%	43.3%	33.5%	40.8%
HV 60d	36.4%	35.1%	38.0%	35.8%	35.1%
IV Rank	56.9%	36.6%	81.9%	57.2%	41.9%
IV Percentile	89.3%	68.7%	98.8%	93.7%	74.6%
Term Structure	-0.5%	-2.0%	0.1%	-0.3%	-0.8%
VWIV	41.3%	35.6%	45.7%	43.0%	39.1%
Skew 25d	2.9%	0.2%	4.3%	2.5%	4.3%
Skew 10d	6.4%	0.5%	10.7%	7.0%	8.8%
Call IV 25d	39.3%	34.1%	45.0%	39.3%	34.9%
Put IV 25d	42.2%	36.9%	49.2%	41.8%	39.2%
Bid-Ask Spread %	4.90	2.03	41.48	2.16	2.38
Gamma HHI	0.07	0.05	0.15	0.06	0.07
Net GEX	8.2M	-17.0M	41.5M	21.5M	2.7M
Net DEX	246.6M	-735.4M	916.3M	-231.8M	390.8M
Net VEX	-11.2M	-14.4M	-9.5M	-13.1M	-9.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.70	0.11	1.58	0.26	0.52
Total Volume	116,648	41,901	278,128	278,128	68,701
Total OI	2,664,756.238	2,446,668	2,850,266	2,446,668	2,539,041

Daily Data (21 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
2022-05-02	$34.46	$38.00	39.8%	12.2%	33.5%	57.2%	43.0%	2.5%	-0.3%	21.5M	-231.8M	-13.1M	0.26	2.16	220,238	57,890	1,609,081	837,587
2022-05-03	$35.10	$38.00	40.0%	12.3%	34.6%	58.0%	43.1%	0.2%	-2.0%	31.9M	-519.5M	-14.4M	0.51	3.03	68,109	35,020	1,765,361	842,559
2022-05-04	$35.82	$37.50	38.8%	11.2%	35.2%	53.1%	42.5%	3.2%	-0.6%	41.5M	-735.4M	-14.3M	1.13	41.48	53,768	60,824	1,796,379	850,784
2022-05-05	$34.50	$35.00	39.8%	11.3%	37.3%	57.5%	40.0%	2.5%	-0.6%	21.1M	-253.3M	-13.8M	0.11	2.83	181,610	19,809	1,804,360	889,458
2022-05-06	$34.27	$35.00	38.6%	11.1%	36.5%	52.3%	42.4%	2.1%	-0.1%	7.8M	-132.1M	-13.2M	1.04	5.11	55,604	57,565	1,787,512	892,511
2022-05-09	$32.33	$35.00	42.4%	12.1%	38.8%	68.1%	42.1%	4.3%	0.0%	920.8K	397.6M	-11.7M	0.62	2.03	83,937	52,295	1,767,017	891,525
2022-05-10	$31.69	$35.00	42.7%	12.1%	38.9%	69.1%	44.1%	4.0%	-0.0%	-752.1K	559.8M	-11.1M	0.48	2.39	100,440	48,581	1,790,689	895,649
2022-05-11	$31.68	$35.00	42.6%	12.0%	38.4%	68.8%	42.2%	3.9%	-0.8%	2.3M	496.4M	-11.4M	0.55	2.34	57,501	31,466	1,827,655	896,539
2022-05-12	$30.13	$35.00	45.8%	13.1%	39.1%	81.9%	45.7%	4.1%	-0.6%	-6.6M	916.3M	-9.9M	0.61	3.46	110,818	67,719	1,846,737	916,798
2022-05-13	$30.84	$35.00	41.9%	12.0%	40.7%	66.2%	42.8%	4.0%	-0.4%	-3.2M	762.8M	-10.3M	1.58	2.14	75,072	118,364	1,887,488	917,704
2022-05-16	$31.09	$35.00	40.8%	11.7%	41.1%	61.3%	43.4%	2.9%	-0.2%	-9.8M	705.7M	-10.1M	1.35	2.50	35,346	47,728	1,852,916	936,535
2022-05-17	$31.23	$35.00	38.9%	11.1%	40.9%	53.5%	42.4%	3.7%	-0.9%	-9.8M	691.5M	-9.9M	1.28	2.38	35,178	45,056	1,858,499	933,418
2022-05-18	$30.60	$34.00	39.5%	11.3%	39.7%	56.2%	39.9%	3.9%	-0.9%	-17.0M	850.5M	-9.5M	0.54	2.30	52,358	28,258	1,858,874	933,836
2022-05-19	$32.16	$34.00	39.8%	11.5%	43.3%	57.3%	41.2%	1.9%	-1.4%	7.7M	356.6M	-10.7M	0.41	3.62	127,824	53,036	1,865,440	921,311
2022-05-20	$32.00	$34.00	39.7%	11.5%	42.6%	56.9%	41.0%	1.8%	-1.3%	11.1M	394.8M	-10.6M	0.67	2.82	58,031	38,875	1,912,388	937,878
2022-05-23	$32.20	$34.00	39.7%	11.7%	41.2%	56.8%	41.6%	1.8%	-0.4%	12.7M	132.1M	-10.7M	0.61	2.17	40,395	24,579	1,711,739	807,851
2022-05-24	$32.78	$34.00	38.1%	11.3%	41.7%	50.4%	39.8%	1.9%	0.1%	18.8M	-7.3M	-10.9M	0.46	2.52	61,055	28,077	1,717,913	808,552
2022-05-25	$32.56	$34.00	37.5%	11.2%	41.7%	48.0%	39.0%	2.2%	-0.1%	16.0M	75.0M	-10.7M	0.68	2.61	31,226	21,248	1,723,676	818,341
2022-05-26	$32.40	$34.00	36.2%	10.5%	40.8%	42.6%	36.7%	2.9%	0.0%	13.1M	164.2M	-10.2M	0.49	2.37	36,218	17,888	1,726,640	820,789
2022-05-27	$32.44	$34.00	34.7%	10.1%	40.9%	36.6%	35.6%	2.7%	0.1%	10.7M	164.1M	-10.2M	0.76	10.19	23,849	18,052	1,733,863	826,988
2022-05-31	$31.81	$34.00	36.0%	10.8%	40.8%	41.9%	39.1%	4.3%	-0.8%	2.7M	390.8M	-9.5M	0.52	2.38	45,054	23,647	1,717,246	821,795