GDX Options History — May 2024

In May 2024, GDX traded between $33.34 and $37.25. ATM implied volatility averaged 30.8%, placing in the 44.1% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded below realized volatility by 2.0% (HV 20d: 32.8%). Max pain ranged from $31.00 to $33.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.82.

Notable Days

2024-05-17: Highest Volume — 346,880 contracts
2024-05-10: Largest IV spike — 21.2% change
2024-05-10: Highest IV Rank — 87.3%
2024-05-01: Largest Expected Move — 9.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$35.17	$33.34	$37.25	$33.55	$35.22
Max Pain	$32.32	$31.00	$33.00	$32.00	$33.00
ATM IV	30.8%	28.9%	37.2%	32.0%	30.0%
Expected Move	8.8%	8.2%	9.7%	9.7%	8.8%
HV 20d	32.8%	29.6%	34.7%	34.7%	31.4%
HV 60d	31.8%	30.7%	33.2%	33.1%	31.4%
IV Rank	44.1%	30.8%	87.3%	51.8%	38.7%
IV Percentile	60.7%	27.4%	99.2%	73.0%	54.8%
Term Structure	-0.7%	-9.0%	1.6%	0.3%	-0.1%
VWIV	31.0%	28.6%	34.3%	34.3%	31.5%
Skew 25d	-1.3%	-2.4%	3.3%	-2.2%	-1.3%
Skew 10d	-2.1%	-4.5%	1.7%	-4.5%	-1.4%
Call IV 25d	31.8%	29.9%	33.7%	33.3%	31.3%
Put IV 25d	30.5%	28.6%	33.9%	31.2%	30.0%
Bid-Ask Spread %	33.07	11.32	45.05	24.36	11.32
Gamma HHI	0.11	0.07	0.17	0.11	0.07
Net GEX	57.2M	16.8M	115.4M	43.2M	24.1M
Net DEX	-2.04B	-3.36B	-1.31B	-1.56B	-1.47B
Net VEX	-15.2M	-16.2M	-14.2M	-14.9M	-15.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.82	0.41	1.48	0.94	0.74
Total Volume	146,390.864	73,482	346,880	152,396	105,801
Total OI	3,133,858.955	2,887,685	3,338,891	2,987,416	3,247,884

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
2024-05-01	$33.55	$32.00	32.0%	9.7%	34.7%	51.8%	34.3%	-2.2%	0.3%	43.2M	-1.56B	-14.9M	0.94	24.36	78,365	74,031	1,617,507	1,369,909
2024-05-02	$33.59	$32.00	31.0%	9.4%	34.4%	45.4%	33.0%	-2.1%	-1.9%	44.0M	-1.56B	-15.0M	0.72	15.87	51,915	37,144	1,638,594	1,378,764
2024-05-03	$33.34	$32.00	30.6%	9.2%	32.5%	42.7%	32.5%	-2.0%	0.5%	41.5M	-1.39B	-15.0M	1.48	14.17	42,892	63,610	1,656,309	1,390,761
2024-05-06	$34.16	$31.00	32.6%	9.1%	33.6%	56.0%	32.7%	-0.8%	-0.0%	53.8M	-1.84B	-15.0M	1.10	43.18	52,276	57,519	1,614,015	1,377,422
2024-05-07	$34.09	$32.00	29.1%	8.9%	33.3%	32.5%	31.4%	-1.4%	0.6%	51.6M	-1.74B	-15.0M	0.52	42.24	53,034	27,385	1,622,117	1,426,901
2024-05-08	$34.09	$32.00	29.7%	8.4%	32.8%	36.3%	29.9%	-1.7%	0.5%	53.0M	-1.74B	-14.5M	0.93	41.54	42,144	39,039	1,622,741	1,443,259
2024-05-09	$35.31	$32.00	30.7%	8.5%	33.9%	43.1%	30.3%	-1.3%	1.6%	80.6M	-2.48B	-14.6M	0.76	40.14	128,857	98,224	1,636,044	1,455,496
2024-05-10	$35.34	$32.00	37.2%	8.4%	32.7%	87.3%	30.2%	1.0%	-9.0%	78.5M	-2.47B	-14.6M	0.49	41.49	146,943	72,270	1,659,423	1,488,600
2024-05-13	$34.91	$32.00	30.5%	8.4%	33.0%	41.8%	29.7%	0.2%	-0.2%	72.5M	-2.14B	-14.6M	0.80	45.05	73,358	58,487	1,679,273	1,490,829
2024-05-14	$35.36	$32.00	30.1%	8.3%	32.7%	38.9%	29.4%	-1.0%	-1.2%	89.4M	-2.45B	-14.7M	0.60	41.36	45,816	27,666	1,716,352	1,524,523
2024-05-15	$35.97	$32.00	29.8%	8.3%	32.8%	36.8%	29.3%	-1.7%	-0.9%	111.4M	-2.91B	-14.2M	0.60	31.73	111,053	66,143	1,723,269	1,536,802
2024-05-16	$35.64	$32.00	29.2%	8.2%	33.1%	32.9%	28.6%	3.3%	-1.0%	115.4M	-2.65B	-14.3M	1.34	31.68	66,893	89,858	1,720,149	1,551,543
2024-05-17	$36.80	$32.00	29.8%	8.3%	34.6%	37.1%	29.2%	-1.6%	-0.8%	100.4M	-3.36B	-14.6M	0.71	42.80	203,199	143,681	1,748,315	1,590,576
2024-05-20	$37.25	$32.00	31.1%	8.8%	29.6%	46.1%	31.1%	-2.3%	0.0%	56.3M	-2.61B	-15.3M	0.67	39.44	166,848	112,253	1,490,209	1,397,476
2024-05-21	$36.97	$33.00	30.7%	8.7%	29.9%	43.1%	31.5%	-1.7%	0.0%	57.6M	-2.53B	-15.7M	0.41	42.74	75,084	30,991	1,589,526	1,466,927
2024-05-22	$35.39	$33.00	30.6%	8.8%	34.7%	42.8%	30.8%	-1.9%	0.0%	30.7M	-1.67B	-15.9M	0.77	21.73	91,978	70,392	1,620,535	1,488,519
2024-05-23	$34.77	$33.00	29.6%	8.5%	32.8%	35.9%	29.8%	-1.9%	-1.4%	16.8M	-1.31B	-16.0M	0.47	35.42	127,104	60,104	1,657,053	1,506,596
2024-05-24	$35.27	$33.00	28.9%	8.3%	33.1%	30.8%	29.3%	-1.4%	0.0%	30.3M	-1.66B	-16.2M	0.58	23.22	53,158	30,704	1,714,296	1,517,993
2024-05-28	$36.09	$33.00	32.3%	9.4%	34.1%	53.9%	33.4%	-1.8%	-0.3%	50.7M	-2.07B	-15.8M	1.20	34.87	73,813	88,761	1,649,167	1,480,707
2024-05-29	$35.19	$33.00	31.6%	9.3%	31.2%	49.6%	32.7%	-2.1%	-0.7%	23.4M	-1.52B	-15.9M	1.27	32.18	37,306	47,304	1,666,546	1,537,124
2024-05-30	$35.53	$33.00	31.1%	9.2%	31.2%	45.6%	32.3%	-2.4%	-0.9%	32.6M	-1.70B	-16.0M	0.99	30.94	48,886	48,310	1,679,978	1,554,868
2024-05-31	$35.22	$33.00	30.0%	8.8%	31.4%	38.7%	31.5%	-1.3%	-0.1%	24.1M	-1.47B	-15.7M	0.74	11.32	60,720	45,081	1,676,789	1,571,095