GDX Options History — July 2022

In July 2022, GDX traded between $24.43 and $28.28. ATM implied volatility averaged 42.9%, placing in the 69.5% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded above realized volatility by 4.1% (HV 20d: 38.8%). Max pain ranged from $26.00 to $30.00. Net GEX was positive for 2 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 0.56.

Notable Days

2022-07-14: Highest Volume — 271,649 contracts
2022-07-05: Largest IV spike — 10.8% change
2022-07-14: Highest IV Rank — 83.5%
2022-07-14: Largest Expected Move — 13.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.13	$24.43	$28.28	$28.28	$26.23
Max Pain	$27.25	$26.00	$30.00	$30.00	$26.00
ATM IV	42.9%	40.0%	46.2%	40.0%	40.7%
Expected Move	12.2%	11.1%	13.0%	11.1%	11.8%
HV 20d	38.8%	35.2%	44.2%	41.6%	37.4%
HV 60d	39.7%	38.7%	40.5%	39.4%	39.9%
IV Rank	69.5%	58.2%	83.5%	58.2%	60.2%
IV Percentile	92.3%	82.9%	98.8%	88.5%	82.9%
Term Structure	-0.5%	-1.3%	0.7%	-0.2%	-0.4%
VWIV	42.7%	38.8%	46.4%	38.8%	41.3%
Skew 25d	4.6%	2.4%	6.6%	4.3%	2.5%
Skew 10d	9.3%	4.4%	14.5%	8.8%	4.4%
Call IV 25d	41.3%	39.1%	45.1%	39.1%	40.4%
Put IV 25d	45.9%	42.8%	49.8%	43.4%	42.8%
Bid-Ask Spread %	6.14	2.45	19.33	2.53	9.39
Gamma HHI	0.10	0.06	0.14	0.07	0.09
Net GEX	-4.1M	-8.1M	6.6M	-2.5M	6.6M
Net DEX	686.6M	371.5M	851.6M	556.8M	371.5M
Net VEX	-7.1M	-8.0M	-6.3M	-7.8M	-8.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.21	1.15	0.54	0.32
Total Volume	114,018.25	66,396	271,649	130,002	88,899
Total OI	2,489,235	2,306,745	2,698,340	2,342,549	2,698,340

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
2022-07-01	$28.28	$30.00	40.0%	11.1%	41.6%	58.2%	38.8%	4.3%	-0.2%	-2.5M	556.8M	-7.8M	0.54	2.53	84,586	45,416	1,654,419	688,130
2022-07-05	$27.00	$28.00	44.4%	12.3%	43.5%	76.0%	43.5%	5.6%	0.4%	-6.5M	739.1M	-7.0M	0.79	2.45	64,517	51,113	1,626,719	680,026
2022-07-06	$26.68	$28.00	45.2%	12.5%	43.5%	79.3%	45.5%	5.7%	-0.5%	-6.8M	767.8M	-6.7M	1.02	6.81	68,408	69,533	1,645,357	686,392
2022-07-07	$27.19	$28.00	42.7%	11.9%	44.2%	68.5%	42.9%	5.7%	-0.4%	-6.1M	674.8M	-7.2M	0.74	6.54	52,802	39,122	1,671,986	712,024
2022-07-08	$27.16	$28.00	41.6%	11.6%	44.2%	63.9%	40.2%	5.3%	-0.3%	-6.3M	702.0M	-7.1M	1.15	11.01	63,352	72,603	1,669,884	717,564
2022-07-11	$26.62	$28.00	43.0%	12.0%	43.2%	70.1%	42.6%	6.6%	-1.1%	-8.1M	785.1M	-6.8M	0.70	14.78	39,147	27,249	1,677,329	730,548
2022-07-12	$26.21	$28.00	45.1%	12.6%	39.1%	78.8%	44.1%	5.4%	-1.2%	-7.4M	838.7M	-6.6M	0.59	19.33	76,091	45,143	1,691,634	730,574
2022-07-13	$26.82	$28.00	42.9%	12.2%	36.0%	69.6%	43.2%	4.4%	-0.4%	-2.2M	696.5M	-7.2M	0.50	11.32	83,564	41,730	1,744,809	745,426
2022-07-14	$25.78	$28.00	46.2%	13.0%	37.1%	83.5%	46.4%	4.7%	-1.3%	-5.4M	836.8M	-6.7M	0.73	3.51	157,051	114,598	1,778,801	752,902
2022-07-15	$25.47	$27.00	44.6%	12.7%	36.4%	76.5%	43.8%	4.5%	-0.7%	-6.5M	851.6M	-7.2M	0.67	2.54	71,808	48,293	1,865,212	814,327
2022-07-18	$25.78	$27.00	44.3%	12.7%	35.4%	75.5%	44.2%	4.1%	-0.6%	-3.6M	636.1M	-7.3M	0.42	2.46	63,207	26,404	1,691,698	753,428
2022-07-19	$26.00	$27.00	41.9%	12.0%	35.9%	65.2%	41.4%	4.3%	0.1%	-2.9M	620.5M	-7.2M	0.57	3.36	52,459	30,071	1,695,136	755,651
2022-07-20	$25.30	$27.00	43.4%	12.4%	36.2%	71.5%	42.0%	4.8%	-1.3%	-5.6M	737.2M	-6.9M	0.42	2.49	56,043	23,594	1,714,404	767,989
2022-07-21	$25.70	$27.00	41.7%	11.9%	37.3%	64.3%	41.4%	3.9%	0.7%	-4.7M	648.1M	-7.2M	0.21	3.43	82,320	17,481	1,735,422	768,221
2022-07-22	$25.42	$26.00	41.6%	12.0%	35.2%	64.0%	41.4%	3.7%	-1.0%	-3.9M	670.5M	-7.1M	0.43	3.09	63,060	27,342	1,771,631	769,511
2022-07-25	$24.43	$26.00	42.9%	12.4%	35.2%	69.3%	43.4%	5.3%	-0.3%	-7.1M	840.7M	-6.3M	0.32	9.17	92,243	29,775	1,766,465	769,664
2022-07-26	$25.10	$26.00	42.6%	12.5%	37.5%	68.3%	43.8%	4.9%	-0.3%	-4.3M	705.8M	-6.9M	0.38	2.94	50,388	19,001	1,802,976	781,351
2022-07-27	$25.56	$26.00	41.9%	12.0%	38.1%	65.2%	42.5%	4.8%	-0.6%	-2.0M	599.0M	-7.3M	0.41	2.84	85,856	35,000	1,815,519	786,542
2022-07-28	$25.96	$26.00	41.0%	11.8%	38.7%	61.5%	42.3%	2.4%	0.0%	3.7M	454.4M	-7.8M	0.31	2.87	92,639	28,457	1,855,966	800,723
2022-07-29	$26.23	$26.00	40.7%	11.8%	37.4%	60.2%	41.3%	2.5%	-0.4%	6.6M	371.5M	-8.0M	0.32	9.39	67,259	21,640	1,890,007	808,333