GDX Options History — February 2024

In February 2024, GDX traded between $25.76 and $29.05. ATM implied volatility averaged 29.9%, placing in the 35.6% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded below realized volatility by 3.6% (HV 20d: 33.6%). Max pain ranged from $28.00 to $29.00. Net GEX was positive for 5 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.42.

Notable Days

2024-02-13: Highest Volume — 280,190 contracts
2024-02-13: Largest IV spike — 7.9% change
2024-02-16: Highest IV Rank — 51.7%
2024-02-13: Largest Expected Move — 9.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.88	$25.76	$29.05	$29.05	$26.48
Max Pain	$28.55	$28.00	$29.00	$29.00	$28.00
ATM IV	29.9%	28.0%	32.5%	29.1%	29.5%
Expected Move	8.6%	8.1%	9.3%	8.5%	8.6%
HV 20d	33.6%	29.9%	36.2%	29.9%	36.2%
HV 60d	32.4%	30.8%	33.3%	31.9%	32.2%
IV Rank	35.6%	23.5%	51.7%	30.3%	32.7%
IV Percentile	41.9%	14.7%	71.0%	28.6%	39.3%
Term Structure	0.2%	-1.0%	1.5%	-0.0%	0.1%
VWIV	30.9%	29.0%	33.5%	30.7%	30.2%
Skew 25d	-0.5%	-1.3%	2.0%	-1.3%	-0.9%
Skew 10d	-1.4%	-3.9%	1.5%	-3.9%	-1.7%
Call IV 25d	30.9%	28.9%	33.0%	30.6%	30.6%
Put IV 25d	30.3%	28.4%	32.7%	29.2%	29.8%
Bid-Ask Spread %	38.69	13.20	49.38	33.28	13.69
Gamma HHI	0.11	0.08	0.25	0.08	0.10
Net GEX	-5.8M	-34.9M	37.7M	37.7M	2.7M
Net DEX	335.4M	-317.5M	693.3M	-317.5M	257.7M
Net VEX	-9.4M	-10.1M	-8.7M	-10.0M	-10.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.42	0.27	0.70	0.37	0.36
Total Volume	116,241.45	56,372	280,190	212,554	111,091
Total OI	2,209,252.9	2,021,566	2,382,090	2,021,566	2,382,090

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
2024-02-01	$29.05	$29.00	29.1%	8.5%	29.9%	30.3%	30.7%	-1.3%	-0.0%	37.7M	-317.5M	-10.0M	0.37	33.28	155,320	57,234	1,272,391	749,175
2024-02-02	$27.96	$29.00	28.3%	8.2%	32.6%	25.3%	30.0%	-0.4%	0.1%	3.5M	103.5M	-9.7M	0.31	44.74	133,327	41,173	1,358,453	786,772
2024-02-05	$27.41	$29.00	28.8%	8.3%	33.1%	28.2%	30.1%	-0.9%	0.1%	-4.6M	302.1M	-9.2M	0.27	45.57	79,438	21,759	1,320,245	782,951
2024-02-06	$27.71	$29.00	28.3%	8.2%	33.5%	25.6%	29.0%	-0.8%	-0.2%	-800.4K	198.6M	-9.3M	0.38	48.14	44,685	17,077	1,332,177	787,462
2024-02-07	$27.48	$29.00	28.3%	8.1%	33.0%	25.3%	29.2%	-0.5%	0.1%	-4.5M	283.0M	-9.1M	0.59	13.20	38,178	22,530	1,358,781	793,964
2024-02-08	$27.30	$29.00	28.2%	8.1%	33.0%	24.6%	29.4%	-0.6%	0.2%	-11.3M	333.3M	-9.1M	0.28	46.60	44,097	12,275	1,364,514	811,986
2024-02-09	$26.94	$29.00	28.0%	8.1%	33.1%	23.5%	29.2%	-0.5%	-0.1%	-19.7M	476.5M	-8.8M	0.70	49.38	82,973	58,225	1,376,450	817,257
2024-02-12	$27.36	$29.00	30.0%	8.6%	31.6%	35.8%	31.2%	-1.3%	0.1%	-8.5M	310.8M	-9.2M	0.37	47.99	55,776	20,407	1,360,744	826,201
2024-02-13	$25.84	$29.00	32.3%	9.3%	33.8%	51.0%	33.1%	-0.2%	-0.1%	-14.7M	693.3M	-8.7M	0.61	49.38	173,744	106,446	1,377,350	823,873
2024-02-14	$26.01	$29.00	30.7%	8.8%	32.8%	40.3%	31.9%	-0.7%	1.0%	-10.4M	614.0M	-9.1M	0.67	43.15	46,103	31,061	1,453,158	852,955
2024-02-15	$26.77	$29.00	31.2%	8.9%	34.7%	43.8%	31.8%	-0.8%	0.6%	-10.6M	314.9M	-9.7M	0.46	46.04	83,252	37,986	1,466,808	836,073
2024-02-16	$26.88	$28.00	32.5%	9.0%	34.6%	51.7%	33.5%	-1.1%	0.4%	-34.9M	292.2M	-9.7M	0.58	45.25	82,367	47,982	1,495,297	855,830
2024-02-20	$26.91	$28.00	31.9%	9.1%	34.6%	48.0%	32.7%	-1.0%	-0.4%	910.6K	267.5M	-9.7M	0.28	38.36	71,423	19,675	1,290,988	831,105
2024-02-21	$26.74	$28.00	31.3%	9.0%	33.6%	44.5%	32.3%	-0.6%	-1.0%	376.6K	288.0M	-9.8M	0.28	36.86	74,720	21,065	1,331,883	839,952
2024-02-22	$26.16	$28.00	30.5%	8.8%	33.9%	39.4%	31.1%	-0.2%	-0.0%	-12.7M	493.4M	-9.4M	0.28	37.54	74,346	20,632	1,342,809	856,726
2024-02-23	$26.69	$28.00	29.9%	8.6%	34.1%	35.3%	30.4%	0.6%	0.7%	-3.5M	324.7M	-9.7M	0.40	37.88	94,905	38,291	1,357,360	860,719
2024-02-26	$26.20	$28.00	30.1%	8.7%	34.6%	36.7%	30.2%	2.0%	1.5%	-7.8M	453.6M	-9.6M	0.42	36.41	54,684	22,942	1,369,272	861,177
2024-02-27	$26.04	$28.00	29.5%	8.7%	34.4%	33.2%	31.2%	-0.6%	0.6%	-8.8M	484.7M	-9.5M	0.27	38.75	102,579	27,692	1,400,536	866,715
2024-02-28	$25.76	$28.00	30.2%	8.7%	34.4%	37.1%	31.0%	-0.8%	-0.2%	-9.0M	534.7M	-9.5M	0.53	21.63	63,832	33,537	1,452,617	880,242
2024-02-29	$26.48	$28.00	29.5%	8.6%	36.2%	32.7%	30.2%	-0.9%	0.1%	2.7M	257.7M	-10.1M	0.36	13.69	81,392	29,699	1,486,901	895,189