GDX Options History — October 2023

In October 2023, GDX traded between $25.88 and $29.59. ATM implied volatility averaged 32.5%, placing in the 35.3% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded above realized volatility by 4.4% (HV 20d: 28.1%). Max pain ranged from $25.00 to $28.00. Net GEX was positive for 19 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 0.30.

Notable Days

2023-10-13: Highest Volume — 211,572 contracts
2023-10-13: Largest IV spike — 9.6% change
2023-10-30: Highest IV Rank — 44.6%
2023-10-30: Largest Expected Move — 10.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.18	$25.88	$29.59	$25.98	$27.98
Max Pain	$25.77	$25.00	$28.00	$28.00	$26.00
ATM IV	32.5%	30.0%	33.9%	31.9%	32.8%
Expected Move	9.5%	8.6%	10.1%	9.3%	9.7%
HV 20d	28.1%	23.9%	32.3%	24.2%	26.8%
HV 60d	26.0%	23.6%	27.8%	27.8%	24.5%
IV Rank	35.3%	22.8%	44.6%	30.4%	42.1%
IV Percentile	43.5%	29.4%	60.3%	34.9%	45.6%
Term Structure	-0.4%	-1.5%	0.3%	-0.4%	0.1%
VWIV	33.7%	30.5%	37.1%	32.6%	35.8%
Skew 25d	-0.2%	-1.4%	0.9%	0.9%	-0.4%
Skew 10d	-0.1%	-3.3%	2.5%	2.3%	-0.8%
Call IV 25d	33.3%	30.0%	35.7%	31.9%	33.7%
Put IV 25d	33.1%	30.8%	34.8%	32.8%	33.3%
Bid-Ask Spread %	41.57	2.06	53.10	2.06	48.24
Gamma HHI	0.08	0.06	0.11	0.07	0.08
Net GEX	20.8M	-8.2M	36.9M	-8.2M	15.1M
Net DEX	-192.9M	-815.2M	641.6M	641.6M	-32.7M
Net VEX	-10.0M	-11.0M	-8.2M	-8.2M	-10.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.30	0.14	0.62	0.46	0.14
Total Volume	108,183.727	46,388	211,572	112,577	144,765
Total OI	2,862,802.455	2,643,455	3,038,352	2,643,455	2,945,365

Daily Data (22 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
2023-10-02	$25.98	$28.00	31.9%	9.3%	24.2%	30.4%	32.6%	0.9%	-0.4%	-8.2M	641.6M	-8.2M	0.46	2.06	76,889	35,688	1,774,510	868,945
2023-10-03	$26.09	$28.00	33.7%	10.1%	23.9%	37.9%	35.2%	0.8%	-0.5%	-3.6M	547.5M	-8.6M	0.21	24.02	85,408	17,607	1,822,965	872,726
2023-10-04	$25.88	$28.00	33.2%	9.8%	24.0%	36.0%	34.0%	0.7%	-0.4%	-938.2K	585.9M	-8.5M	0.32	36.93	74,401	23,816	1,877,362	880,324
2023-10-05	$26.27	$25.00	33.1%	9.5%	25.0%	35.3%	33.0%	0.5%	-0.5%	5.9M	431.0M	-9.0M	0.28	37.62	36,338	10,050	1,933,233	880,607
2023-10-06	$26.95	$25.00	32.3%	9.2%	27.0%	32.1%	32.8%	0.3%	-0.4%	19.3M	201.3M	-9.5M	0.25	42.40	122,339	31,057	1,946,586	884,622
2023-10-09	$27.54	$25.00	32.8%	9.3%	27.9%	34.4%	32.9%	0.5%	-0.3%	20.3M	-30.1M	-9.7M	0.35	44.56	74,832	26,522	1,939,377	887,933
2023-10-10	$27.80	$25.00	30.6%	8.7%	28.1%	25.5%	30.7%	0.7%	-0.0%	20.9M	-93.8M	-9.8M	0.22	44.68	44,775	9,767	1,960,457	907,767
2023-10-11	$28.24	$25.00	30.3%	8.8%	28.8%	24.2%	30.8%	0.9%	0.2%	20.9M	-251.1M	-9.7M	0.23	45.11	118,903	26,852	1,955,110	910,782
2023-10-12	$27.77	$25.00	30.0%	8.6%	28.8%	22.8%	30.5%	0.8%	-0.1%	13.7M	87.1K	-9.5M	0.32	46.47	58,218	18,740	1,944,969	919,667
2023-10-13	$28.95	$25.00	32.9%	9.3%	31.9%	34.5%	33.6%	-1.4%	-0.4%	28.7M	-538.1M	-10.4M	0.28	44.33	165,940	45,632	1,957,968	925,286
2023-10-16	$29.06	$25.00	32.9%	9.4%	32.0%	35.7%	33.9%	-0.3%	-1.2%	29.7M	-530.0M	-10.7M	0.62	44.93	55,925	34,768	1,996,562	928,681
2023-10-17	$29.46	$25.00	32.2%	9.2%	32.3%	32.7%	33.0%	-0.3%	-1.1%	36.9M	-679.8M	-10.6M	0.34	39.69	66,386	22,419	2,011,430	941,081
2023-10-18	$29.38	$25.00	33.2%	9.5%	32.0%	37.8%	33.6%	-0.3%	-1.3%	33.8M	-679.5M	-10.7M	0.21	42.64	93,601	19,387	2,033,944	946,776
2023-10-19	$29.45	$25.00	33.9%	9.8%	30.6%	42.3%	35.0%	-0.8%	-0.8%	32.6M	-701.1M	-10.8M	0.23	42.02	102,249	23,116	2,024,482	953,462
2023-10-20	$29.59	$26.00	33.8%	9.8%	30.6%	41.8%	34.9%	-1.1%	-1.5%	36.7M	-815.2M	-11.0M	0.38	43.38	114,416	43,992	2,081,947	956,405
2023-10-23	$29.23	$26.00	33.0%	9.9%	30.5%	38.2%	34.9%	-0.4%	0.3%	27.7M	-461.5M	-10.8M	0.33	40.23	59,488	19,712	1,906,130	875,217
2023-10-24	$29.24	$26.00	31.9%	9.5%	29.1%	33.2%	34.2%	-0.8%	0.1%	30.8M	-487.3M	-10.7M	0.32	40.41	53,596	17,044	1,937,467	885,269
2023-10-25	$28.84	$26.00	32.4%	9.8%	26.5%	35.6%	34.8%	-0.9%	0.0%	23.6M	-345.9M	-10.6M	0.45	50.71	43,806	19,753	1,945,667	899,629
2023-10-26	$28.52	$26.00	32.3%	9.6%	27.0%	39.4%	33.8%	-0.7%	-0.1%	17.7M	-205.2M	-10.4M	0.30	50.58	82,620	24,875	1,966,444	905,102
2023-10-27	$29.05	$26.00	32.5%	9.9%	27.4%	40.7%	35.0%	-0.8%	0.1%	30.2M	-449.5M	-10.8M	0.23	50.48	120,945	28,066	1,987,557	906,868
2023-10-30	$28.77	$26.00	33.3%	10.1%	24.1%	44.6%	37.1%	-1.3%	0.1%	26.1M	-350.9M	-10.7M	0.16	53.10	73,424	11,915	1,992,546	902,427
2023-10-31	$27.98	$26.00	32.8%	9.7%	26.8%	42.1%	35.8%	-0.4%	0.1%	15.1M	-32.7M	-10.1M	0.14	48.24	127,265	17,500	2,038,399	906,966