GDX Options History — January 2024

In January 2024, GDX traded between $27.55 and $30.52. ATM implied volatility averaged 29.6%, placing in the 33.8% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded below realized volatility by 0.4% (HV 20d: 30.0%). Max pain ranged from $29.00 to $30.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.43.

Notable Days

  • 2024-01-17: Highest Volume — 249,488 contracts
  • 2024-01-23: Largest IV drop — 6.0% change
  • 2024-01-03: Highest IV Rank — 44.7%
  • 2024-01-04: Largest Expected Move — 9.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$28.66$27.55$30.52$30.52$28.05
Max Pain$29.38$29.00$30.00$30.00$29.00
ATM IV29.6%28.4%31.4%30.5%28.4%
Expected Move8.6%8.2%9.0%8.3%8.5%
HV 20d30.0%26.3%33.8%33.8%27.6%
HV 60d32.2%30.5%33.1%31.9%32.6%
IV Rank33.8%25.8%44.7%39.1%26.0%
IV Percentile33.4%16.3%52.4%45.2%17.1%
Term Structure0.1%-0.8%1.3%0.2%0.0%
VWIV31.1%29.2%33.1%30.7%31.8%
Skew 25d-0.9%-2.9%0.6%-1.7%-1.3%
Skew 10d-2.5%-6.2%-0.0%-3.6%-2.9%
Call IV 25d30.9%29.4%32.5%32.3%29.7%
Put IV 25d30.0%28.3%31.8%30.7%28.3%
Bid-Ask Spread %43.3534.7753.7553.7545.50
Gamma HHI0.090.060.130.070.08
Net GEX11.1M-23.0M33.8M33.8M10.3M
Net DEX30.1M-565.5M615.2M-565.5M90.5M
Net VEX-9.9M-11.2M-9.0M-11.2M-9.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.430.141.070.310.19
Total Volume113,237.42943,207249,48882,846123,059
Total OI2,665,734.191,917,1493,154,2622,931,6631,990,235

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-01-02$30.52$30.0030.5%8.3%33.8%39.1%30.7%-1.7%0.2%33.8M-565.5M-11.2M0.3153.7563,47119,3751,926,7201,004,943
2024-01-03$29.80$30.0031.4%8.5%33.5%44.7%31.1%-0.6%0.4%17.9M-220.6M-10.8M0.3852.04126,82047,8861,953,9161,014,260
2024-01-04$29.74$30.0031.2%9.0%33.3%43.9%32.2%-0.8%-0.7%20.5M-261.0M-11.1M0.1441.1498,07913,6432,015,9391,023,661
2024-01-05$29.80$30.0030.1%8.8%33.3%36.8%31.3%-1.3%-0.2%21.8M-259.2M-10.9M0.4140.3885,10534,7212,043,9391,030,995
2024-01-08$29.68$30.0029.6%8.6%33.3%33.7%30.3%0.5%0.5%21.8M-192.0M-10.7M0.3644.3257,68420,5942,027,7421,027,904
2024-01-09$29.09$30.0029.4%8.5%33.2%32.4%30.1%-0.1%0.6%6.1M85.8M-10.2M0.4841.2072,03534,6582,038,7191,035,178
2024-01-10$29.13$30.0029.0%8.4%33.2%29.7%29.7%0.6%1.3%10.6M37.9M-10.5M0.6045.2174,93244,8202,070,6031,049,152
2024-01-11$28.84$30.0028.6%8.2%32.1%27.1%29.2%-0.3%0.1%2.2M195.3M-10.0M0.2548.04132,11933,5442,111,7911,039,011
2024-01-12$29.70$29.0029.0%8.4%26.3%29.5%30.1%-2.9%0.6%30.1M-323.1M-10.7M0.3534.77131,94246,8212,113,4071,040,855
2024-01-16$28.38$29.0030.3%8.7%28.7%38.2%31.7%-1.5%-0.4%-11.3M376.4M-9.6M0.4246.9988,53537,5142,082,6691,040,202
2024-01-17$27.57$29.0030.2%8.7%29.9%37.5%31.5%-0.8%-0.8%-23.0M615.2M-9.0M1.0743.80120,711128,7772,108,0941,025,900
2024-01-18$27.55$29.0030.3%8.7%29.8%37.8%32.5%-0.7%-0.1%-16.4M444.8M-9.1M0.7449.9943,02331,9662,151,065979,077
2024-01-19$27.69$29.0030.8%8.9%27.2%41.3%33.1%-0.9%-0.4%-3.7M425.4M-9.2M0.2146.08113,64023,9972,163,052987,748
2024-01-22$27.63$29.0030.9%8.9%26.8%41.8%32.1%-0.2%-0.3%11.9M123.7M-9.3M0.4437.2536,31816,0391,231,995685,154
2024-01-23$28.23$29.0029.0%8.4%27.7%30.0%30.6%-0.6%0.1%20.6M-43.8M-9.5M0.7637.4552,46040,1021,248,326693,341
2024-01-24$27.74$29.0028.6%8.4%27.6%27.2%30.5%-1.4%-0.1%11.9M132.7M-9.5M0.6741.8952,47335,0961,268,591721,898
2024-01-25$28.23$29.0029.1%8.5%28.8%30.6%31.3%-0.9%-0.2%20.2M-26.8M-9.8M0.2635.0146,13911,8311,276,837732,904
2024-01-26$28.12$29.0028.5%8.3%28.2%26.5%29.9%-0.5%0.3%14.9M23.7M-9.6M0.5341.1951,74427,5471,291,063737,094
2024-01-29$28.32$29.0028.9%8.7%27.9%29.2%32.1%-0.9%0.2%17.3M-35.2M-9.6M0.3638.7931,67011,5371,250,570736,050
2024-01-30$28.12$29.0028.4%8.5%27.9%25.8%31.9%-1.8%0.2%15.2M8.3M-9.5M0.1745.5598,93816,6211,269,825739,993
2024-01-31$28.05$29.0028.4%8.5%27.6%26.0%31.8%-1.3%0.0%10.3M90.5M-9.2M0.1945.50103,42919,6301,243,457746,778