GDX Options History — June 2023

In June 2023, GDX traded between $29.23 and $31.96. ATM implied volatility averaged 28.3%, placing in the 1.2% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded above realized volatility by 2.8% (HV 20d: 25.5%). Max pain ranged from $30.00 to $32.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.74.

Notable Days

2023-06-01: Highest Volume — 224,780 contracts
2023-06-02: Largest IV drop — 4.8% change
2023-06-12: Highest IV Rank — 4.9%
2023-06-01: Largest Expected Move — 9.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$30.67	$29.23	$31.96	$31.96	$30.09
Max Pain	$31.40	$30.00	$32.00	$30.00	$30.50
ATM IV	28.3%	26.2%	31.5%	31.5%	26.2%
Expected Move	8.2%	7.1%	9.6%	9.6%	7.2%
HV 20d	25.5%	21.0%	29.1%	29.1%	21.0%
HV 60d	28.1%	25.2%	32.6%	32.3%	25.2%
IV Rank	1.2%	0.0%	4.9%	1.1%	0.0%
IV Percentile	0.5%	0.0%	2.0%	0.8%	0.0%
Term Structure	0.3%	-0.5%	1.0%	-0.4%	0.7%
VWIV	29.0%	24.8%	33.9%	33.9%	25.4%
Skew 25d	1.4%	0.5%	1.7%	0.5%	1.1%
Skew 10d	2.6%	0.5%	3.8%	0.5%	2.3%
Call IV 25d	28.2%	25.7%	32.1%	32.1%	26.0%
Put IV 25d	29.6%	27.2%	32.6%	32.6%	27.2%
Bid-Ask Spread %	3.99	2.12	15.81	8.26	2.68
Gamma HHI	0.06	0.05	0.08	0.05	0.06
Net GEX	11.8M	-11.6M	35.2M	35.2M	16.2M
Net DEX	-318.0M	-922.0M	242.4M	-922.0M	-131.8M
Net VEX	-11.3M	-12.9M	-10.1M	-12.9M	-10.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.74	0.22	1.81	0.22	0.63
Total Volume	79,967.619	32,401	224,780	224,780	83,225
Total OI	2,811,589.905	2,352,074	3,101,150	2,924,039	2,641,801

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
2023-06-01	$31.96	$30.00	31.5%	9.6%	29.1%	1.1%	33.9%	0.5%	-0.4%	35.2M	-922.0M	-12.9M	0.22	8.26	184,270	40,510	1,938,471	985,568
2023-06-02	$31.34	$30.00	30.0%	9.0%	26.9%	0.0%	31.8%	1.1%	-0.5%	21.3M	-622.7M	-12.6M	0.60	11.21	40,689	24,341	2,031,238	999,467
2023-06-05	$31.59	$32.00	30.4%	8.8%	27.3%	2.1%	31.7%	0.7%	0.1%	31.8M	-751.4M	-12.5M	0.49	2.52	43,647	21,439	2,017,186	981,012
2023-06-06	$31.55	$32.00	29.4%	8.6%	27.4%	0.0%	30.8%	1.3%	0.2%	29.8M	-697.7M	-12.3M	0.61	2.52	20,141	12,260	2,015,296	994,986
2023-06-07	$31.07	$32.00	29.7%	8.6%	27.5%	1.7%	31.4%	1.6%	0.4%	21.1M	-510.3M	-11.9M	1.04	2.12	43,913	45,686	2,019,654	994,635
2023-06-08	$31.48	$32.00	29.9%	8.9%	28.4%	2.4%	30.3%	1.7%	0.3%	26.9M	-655.2M	-12.0M	0.74	3.05	39,027	28,783	2,024,966	1,011,016
2023-06-09	$31.13	$32.00	29.2%	8.5%	25.4%	0.0%	30.4%	1.6%	0.1%	14.8M	-485.8M	-11.7M	0.49	2.33	59,590	29,176	2,037,193	1,032,834
2023-06-12	$31.18	$32.00	30.2%	8.7%	25.4%	4.9%	30.7%	1.4%	-0.1%	17.1M	-495.7M	-11.5M	0.75	2.27	20,659	15,528	2,014,206	1,027,646
2023-06-13	$30.88	$32.00	29.3%	8.5%	25.1%	0.6%	30.3%	1.7%	0.3%	12.0M	-386.3M	-11.3M	1.14	2.51	21,630	24,602	2,017,092	1,033,204
2023-06-14	$30.89	$32.00	28.4%	8.3%	24.1%	0.0%	29.9%	1.6%	0.5%	9.6M	-406.5M	-11.1M	1.81	15.81	21,339	38,708	2,025,089	1,044,515
2023-06-15	$31.01	$32.00	27.8%	8.0%	24.1%	0.0%	28.6%	1.4%	-0.1%	11.0M	-459.1M	-11.3M	1.02	2.26	36,421	37,113	2,029,788	1,049,733
2023-06-16	$31.39	$32.00	26.8%	7.8%	23.4%	0.0%	27.5%	1.4%	0.7%	20.7M	-609.0M	-11.2M	0.46	2.25	51,361	23,725	2,035,269	1,065,881
2023-06-20	$30.31	$32.00	26.8%	7.7%	26.2%	0.0%	27.5%	1.6%	1.0%	-22.5K	-44.9M	-10.4M	0.51	6.11	57,206	29,416	1,571,910	780,164
2023-06-21	$30.16	$31.00	27.5%	7.9%	26.2%	3.1%	27.6%	1.7%	0.6%	589.4K	-18.4M	-10.4M	0.48	2.47	96,234	46,611	1,608,511	794,208
2023-06-22	$29.88	$31.00	27.2%	7.8%	26.3%	1.8%	28.2%	1.5%	0.4%	-2.9M	51.8M	-10.5M	0.74	2.88	54,757	40,704	1,657,050	819,219
2023-06-23	$29.80	$31.00	27.2%	7.8%	24.9%	1.7%	27.4%	1.0%	0.5%	-1.7M	63.8M	-10.6M	0.59	2.16	26,959	15,953	1,682,892	840,506
2023-06-26	$30.06	$31.00	27.6%	7.8%	24.1%	3.5%	29.0%	1.2%	0.3%	3.5M	-34.3M	-10.6M	0.76	2.73	25,866	19,717	1,672,033	837,594
2023-06-27	$29.64	$31.00	27.3%	7.6%	24.6%	2.1%	26.3%	1.7%	0.6%	-3.5M	106.4M	-10.2M	0.92	2.60	46,024	42,412	1,684,658	847,414
2023-06-28	$29.23	$31.00	26.3%	7.1%	24.9%	0.0%	24.8%	1.6%	0.6%	-11.6M	242.4M	-10.1M	0.76	2.69	49,728	37,713	1,699,283	860,061
2023-06-29	$29.52	$31.00	26.2%	7.2%	23.7%	0.0%	25.1%	1.4%	0.4%	-4.7M	87.7M	-10.4M	0.77	2.30	46,570	35,667	1,767,923	852,216
2023-06-30	$30.09	$30.50	26.2%	7.2%	21.0%	0.0%	25.4%	1.1%	0.7%	16.2M	-131.8M	-10.9M	0.63	2.68	51,039	32,186	1,784,797	857,004