GDX Options History — March 2024

In March 2024, GDX traded between $27.34 and $31.59. ATM implied volatility averaged 31.0%, placing in the 43.5% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded below realized volatility by 2.6% (HV 20d: 33.5%). Max pain ranged from $26.00 to $28.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.37.

Notable Days

  • 2024-03-04: Highest Volume — 361,267 contracts
  • 2024-03-12: Largest IV drop — 8.9% change
  • 2024-03-04: Highest IV Rank — 63.2%
  • 2024-03-07: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.70$27.34$31.59$27.34$31.59
Max Pain$27.55$26.00$28.00$28.00$28.00
ATM IV31.0%28.3%34.3%32.9%30.8%
Expected Move8.9%8.1%9.5%9.5%8.8%
HV 20d33.5%29.6%36.9%35.8%32.2%
HV 60d32.7%31.1%34.1%32.6%33.0%
IV Rank43.5%26.9%63.2%54.3%50.6%
IV Percentile57.0%17.9%88.1%78.2%65.1%
Term Structure0.2%-3.5%5.3%-1.0%0.9%
VWIV31.8%29.5%34.1%33.6%31.5%
Skew 25d-2.3%-4.9%4.0%-1.1%-2.3%
Skew 10d-3.6%-8.5%2.2%-2.9%-2.8%
Call IV 25d33.0%29.2%37.9%33.2%32.6%
Put IV 25d30.7%27.9%33.5%32.1%30.3%
Bid-Ask Spread %34.8628.9244.1236.7234.82
Gamma HHI0.120.080.480.110.08
Net GEX55.9M27.3M143.3M30.0M69.4M
Net DEX-981.8M-1.57B-122.5M-122.5M-1.57B
Net VEX-12.5M-13.0M-11.0M-11.0M-13.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.370.230.720.280.62
Total Volume168,51441,756361,267356,359252,450
Total OI2,494,7982,206,2932,788,6152,421,0262,407,700

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-03-01$27.34$28.0032.9%9.5%35.8%54.3%33.6%-1.1%-1.0%30.0M-122.5M-11.0M0.2836.72277,44078,9191,511,729909,297
2024-03-04$28.56$26.0034.3%9.3%36.9%63.2%33.0%-4.9%-0.4%43.9M-708.9M-12.2M0.2538.03288,19473,0731,591,157924,277
2024-03-05$28.66$26.0032.4%9.3%36.1%51.2%33.5%-2.9%0.1%48.8M-760.7M-12.6M0.3630.93122,28844,2651,658,757955,527
2024-03-06$29.18$27.0032.9%9.4%36.4%54.8%33.3%-2.8%-3.5%55.9M-1.04B-12.9M0.2335.24250,32958,5221,670,280964,743
2024-03-07$29.62$27.0033.0%9.5%36.4%55.0%34.1%-3.2%-0.4%63.4M-1.19B-12.8M0.3129.03156,34148,4751,679,245961,586
2024-03-08$29.73$27.0032.0%9.2%36.2%49.1%33.4%-3.4%0.4%56.5M-1.25B-12.8M0.2942.63156,77445,6811,684,499981,315
2024-03-11$30.20$27.0033.7%9.5%35.8%59.9%33.9%-2.6%-0.6%66.4M-1.34B-12.8M0.3139.37142,26643,7811,679,127969,196
2024-03-12$29.55$27.0030.8%8.9%36.9%40.9%31.9%-1.7%0.6%54.2M-1.01B-12.6M0.5139.7974,31337,7371,719,615999,628
2024-03-13$30.26$28.0031.6%8.9%29.6%46.3%32.3%-3.2%-0.4%74.7M-1.40B-12.9M0.3235.3378,57325,3541,734,0291,008,310
2024-03-14$29.80$28.0029.9%8.7%30.7%35.2%31.1%4.0%5.3%62.0M-1.15B-12.7M0.7239.7460,87243,9531,743,9551,019,637
2024-03-15$29.93$28.0030.6%8.8%29.6%40.0%31.2%-2.2%-0.0%143.3M-1.14B-12.6M0.4440.7558,43425,6581,747,5631,041,052
2024-03-18$29.79$28.0029.6%8.5%29.8%33.6%30.1%-2.1%0.2%38.0M-812.1M-12.4M0.3729.4248,87418,1201,335,438870,855
2024-03-19$29.04$28.0029.4%8.4%31.8%32.5%31.8%-2.8%0.1%27.3M-537.8M-12.2M0.4431.0781,67236,2681,356,629881,615
2024-03-20$30.24$28.0030.4%8.7%34.0%38.5%31.3%-2.7%0.4%49.1M-1.05B-12.7M0.3644.12105,98637,7051,375,923896,851
2024-03-21$30.09$28.0029.9%8.6%32.7%37.2%30.7%-2.0%-0.3%57.9M-977.7M-12.6M0.2732.09114,79731,5291,426,094910,217
2024-03-22$29.62$28.0028.3%8.1%33.3%26.9%29.5%-2.3%0.2%36.6M-733.7M-12.5M0.2329.1899,20523,0621,451,231925,183
2024-03-25$29.94$28.0028.7%8.3%32.1%29.8%29.5%-2.7%0.8%41.1M-824.1M-12.2M0.4428.9270,03831,1191,371,220906,755
2024-03-26$29.88$28.0028.7%8.3%31.9%29.6%29.5%-2.5%0.7%40.3M-789.0M-12.2M0.3529.0130,82910,9271,388,168919,246
2024-03-27$30.91$28.0029.8%8.7%32.6%41.9%31.1%-2.0%1.0%59.1M-1.23B-12.5M0.3530.96138,25948,1981,395,661922,650
2024-03-28$31.59$28.0030.8%8.8%32.2%50.6%31.5%-2.3%0.9%69.4M-1.57B-13.0M0.6234.82155,68496,7661,458,217949,483