GDX Options History — December 2022

In December 2022, GDX traded between $27.56 and $29.99. ATM implied volatility averaged 37.7%, placing in the 46.8% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 4.0% (HV 20d: 41.7%). Max pain ranged from $26.00 to $30.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.56.

Notable Days

2022-12-01: Highest Volume — 282,319 contracts
2022-12-21: Largest IV drop — 5.5% change
2022-12-07: Highest IV Rank — 55.2%
2022-12-01: Largest Expected Move — 11.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.05	$27.56	$29.99	$29.99	$28.56
Max Pain	$28.64	$26.00	$30.00	$26.00	$28.50
ATM IV	37.7%	34.9%	39.6%	39.0%	38.1%
Expected Move	10.7%	10.0%	11.6%	11.6%	10.8%
HV 20d	41.7%	34.7%	55.2%	55.2%	37.0%
HV 60d	47.4%	46.0%	48.5%	48.2%	46.0%
IV Rank	46.8%	35.2%	55.2%	52.7%	48.8%
IV Percentile	35.1%	17.1%	50.4%	47.2%	36.9%
Term Structure	0.1%	-1.1%	1.1%	-1.1%	1.1%
VWIV	37.7%	29.6%	41.4%	41.4%	37.9%
Skew 25d	1.2%	-0.2%	2.3%	1.5%	1.9%
Skew 10d	1.8%	-0.6%	3.9%	2.0%	3.6%
Call IV 25d	37.7%	35.4%	39.7%	38.0%	37.4%
Put IV 25d	38.8%	36.2%	41.1%	39.5%	39.3%
Bid-Ask Spread %	8.27	1.76	17.42	2.03	7.93
Gamma HHI	0.12	0.09	0.17	0.10	0.11
Net GEX	42.7M	23.2M	59.1M	50.2M	30.3M
Net DEX	-814.0M	-1.38B	-55.0M	-1.36B	-471.9M
Net VEX	-8.4M	-8.9M	-7.9M	-8.7M	-8.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.10	1.43	0.25	0.95
Total Volume	107,877.762	40,439	282,319	282,319	88,203
Total OI	2,594,594.286	2,186,758	2,988,698	2,707,432	2,300,060

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
2022-12-01	$29.99	$26.00	39.0%	11.6%	55.2%	52.7%	41.4%	1.5%	-1.1%	50.2M	-1.36B	-8.7M	0.25	2.03	226,246	56,073	1,818,172	889,260
2022-12-02	$29.95	$26.50	38.5%	11.3%	52.7%	50.2%	41.0%	2.3%	-1.1%	56.2M	-1.38B	-8.9M	0.48	7.97	83,670	40,552	1,896,152	917,906
2022-12-05	$28.88	$29.00	38.6%	10.9%	47.9%	50.8%	38.6%	0.5%	0.5%	45.7M	-855.6M	-8.5M	0.38	15.15	72,933	27,749	1,873,956	885,356
2022-12-06	$28.88	$29.00	38.9%	10.9%	47.9%	52.3%	38.7%	1.6%	-0.6%	43.5M	-810.6M	-8.4M	0.41	13.28	32,324	13,311	1,858,198	896,198
2022-12-07	$29.51	$29.00	39.6%	11.2%	43.5%	55.2%	40.1%	1.3%	0.0%	48.3M	-1.08B	-8.5M	0.37	15.10	123,427	45,185	1,854,308	899,582
2022-12-08	$29.39	$29.00	38.8%	11.0%	42.8%	51.7%	39.1%	1.0%	0.1%	50.1M	-1.06B	-8.7M	0.29	4.94	52,608	15,517	1,936,424	924,272
2022-12-09	$29.27	$29.00	38.3%	10.9%	34.7%	49.6%	38.3%	1.1%	1.0%	50.4M	-1.01B	-8.7M	0.35	11.63	91,213	31,541	1,961,110	927,919
2022-12-12	$28.98	$29.00	39.0%	10.9%	34.9%	52.4%	38.8%	2.0%	-0.9%	47.6M	-832.8M	-8.4M	0.34	13.39	60,563	20,606	1,948,652	918,120
2022-12-13	$29.84	$29.00	37.3%	10.6%	36.3%	45.2%	37.1%	-0.2%	-0.6%	57.4M	-1.24B	-8.4M	0.43	13.38	96,075	41,248	1,963,159	928,876
2022-12-14	$29.59	$29.00	36.7%	10.4%	36.2%	42.9%	37.0%	0.1%	-0.5%	59.1M	-1.14B	-8.4M	0.44	17.42	59,876	26,623	2,002,095	941,464
2022-12-15	$28.37	$29.00	37.0%	10.6%	39.2%	44.2%	37.3%	1.3%	-0.3%	40.1M	-552.6M	-8.0M	0.32	4.95	69,818	22,616	2,024,731	950,172
2022-12-16	$28.69	$29.00	35.6%	10.2%	38.6%	38.3%	29.6%	0.8%	0.8%	28.6M	-714.4M	-8.0M	0.10	11.83	215,692	21,746	2,032,489	956,209
2022-12-19	$27.56	$30.00	37.4%	10.7%	41.4%	45.7%	37.7%	1.1%	0.5%	23.2M	-55.0M	-7.9M	0.83	3.91	64,020	53,145	1,445,944	740,814
2022-12-20	$28.80	$29.00	36.9%	10.6%	44.0%	43.8%	37.8%	1.1%	-0.2%	34.9M	-578.6M	-8.5M	0.56	1.84	77,441	43,504	1,483,137	734,056
2022-12-21	$29.02	$28.50	34.9%	10.0%	41.9%	35.2%	35.7%	0.8%	0.7%	40.5M	-706.7M	-8.5M	0.94	1.85	37,032	34,847	1,511,349	728,676
2022-12-22	$28.66	$28.50	36.8%	10.5%	41.6%	43.1%	37.6%	1.0%	0.4%	36.1M	-562.4M	-8.4M	1.00	2.37	38,202	38,084	1,519,626	730,596
2022-12-23	$28.88	$28.50	35.9%	10.2%	41.6%	39.4%	36.1%	0.7%	0.6%	40.5M	-631.1M	-8.5M	0.58	13.21	40,396	23,396	1,521,384	744,806
2022-12-27	$29.66	$28.50	37.8%	10.8%	39.4%	47.5%	38.2%	1.3%	0.9%	43.0M	-926.6M	-8.5M	0.63	7.86	56,034	35,264	1,511,698	739,386
2022-12-28	$28.70	$29.00	38.4%	10.8%	40.4%	49.9%	37.8%	1.9%	0.6%	34.5M	-535.8M	-8.1M	0.71	1.76	28,192	20,022	1,527,487	754,937
2022-12-29	$28.82	$28.50	37.0%	10.4%	38.7%	44.2%	36.9%	1.6%	0.9%	36.3M	-576.0M	-8.1M	1.43	1.89	16,619	23,820	1,530,620	757,124
2022-12-30	$28.56	$28.50	38.1%	10.8%	37.0%	48.8%	37.9%	1.9%	1.1%	30.3M	-471.9M	-8.1M	0.95	7.93	45,320	42,883	1,536,006	764,054