GDX Options History — July 2024

In July 2024, GDX traded between $33.84 and $39.22. ATM implied volatility averaged 30.8%, placing in the 44.1% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 0.5% (HV 20d: 31.3%). Max pain ranged from $34.00 to $36.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.63.

Notable Days

2024-07-10: Highest Volume — 261,026 contracts
2024-07-03: Largest IV spike — 22.7% change
2024-07-03: Highest IV Rank — 62.8%
2024-07-31: Largest Expected Move — 9.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$36.95	$33.84	$39.22	$33.86	$37.95
Max Pain	$35.27	$34.00	$36.00	$34.00	$36.00
ATM IV	30.8%	27.4%	33.6%	27.7%	31.6%
Expected Move	8.7%	7.5%	9.6%	7.7%	9.6%
HV 20d	31.3%	27.3%	39.0%	37.2%	31.1%
HV 60d	34.2%	32.8%	35.4%	33.9%	33.1%
IV Rank	44.1%	20.7%	62.8%	23.0%	49.4%
IV Percentile	60.9%	8.3%	92.1%	10.3%	72.2%
Term Structure	-0.3%	-2.0%	2.4%	-0.6%	1.8%
VWIV	31.1%	26.5%	34.0%	27.4%	34.0%
Skew 25d	-0.5%	-2.7%	3.6%	-0.2%	0.2%
Skew 10d	-1.2%	-2.7%	2.8%	-0.5%	-2.3%
Call IV 25d	31.2%	28.2%	33.4%	28.3%	32.3%
Put IV 25d	30.6%	28.1%	32.6%	28.1%	32.5%
Bid-Ask Spread %	45.02	30.43	58.12	37.87	46.18
Gamma HHI	0.10	0.07	0.14	0.08	0.10
Net GEX	50.5M	10.5M	84.1M	13.9M	76.3M
Net DEX	-1.81B	-2.94B	-571.5M	-593.4M	-2.12B
Net VEX	-14.3M	-14.7M	-13.9M	-13.9M	-14.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.63	0.36	1.32	0.65	0.36
Total Volume	118,528.227	32,862	261,026	32,862	114,153
Total OI	2,628,951.636	2,491,073	2,820,842	2,491,073	2,723,257

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
2024-07-01	$33.86	$34.00	27.7%	7.7%	37.2%	23.0%	27.4%	-0.2%	-0.6%	13.9M	-593.4M	-13.9M	0.65	37.87	19,959	12,903	1,344,194	1,146,879
2024-07-02	$33.84	$34.00	27.4%	7.5%	37.0%	20.7%	26.5%	-0.0%	-0.9%	13.5M	-571.5M	-14.0M	0.49	40.78	33,743	16,647	1,355,171	1,153,434
2024-07-03	$35.41	$34.00	33.6%	8.5%	38.2%	62.8%	29.9%	1.0%	-0.0%	46.7M	-1.32B	-14.2M	0.37	39.69	98,974	36,242	1,368,519	1,162,236
2024-07-05	$36.44	$34.00	32.3%	8.7%	39.0%	54.4%	31.0%	-1.8%	-2.0%	61.9M	-1.82B	-14.5M	0.46	51.83	130,192	59,631	1,402,848	1,170,799
2024-07-08	$35.98	$34.00	29.8%	8.7%	37.4%	37.2%	30.5%	0.1%	0.7%	51.3M	-1.55B	-14.2M	0.49	55.59	75,197	37,027	1,382,764	1,173,504
2024-07-09	$36.09	$35.00	29.5%	8.4%	27.3%	35.0%	29.6%	-0.3%	-0.2%	64.5M	-1.64B	-14.4M	0.86	54.98	24,595	21,141	1,423,544	1,185,017
2024-07-10	$36.97	$35.00	30.0%	8.7%	28.1%	38.7%	31.8%	-0.8%	0.4%	74.8M	-2.10B	-14.1M	1.11	49.93	123,926	137,100	1,430,106	1,197,662
2024-07-11	$38.14	$35.00	30.9%	8.7%	29.1%	44.5%	30.9%	-1.0%	-1.2%	77.5M	-2.61B	-14.4M	0.36	52.07	131,234	47,856	1,467,398	1,213,468
2024-07-12	$38.23	$35.00	29.3%	8.4%	29.1%	33.9%	30.4%	-1.1%	-0.4%	77.8M	-2.66B	-14.3M	0.71	54.86	94,998	67,500	1,485,056	1,230,940
2024-07-15	$38.09	$35.00	30.4%	8.7%	27.3%	41.1%	31.1%	-1.3%	-0.3%	69.6M	-2.43B	-14.2M	0.53	48.41	59,111	31,531	1,455,020	1,235,586
2024-07-16	$39.22	$35.00	32.0%	9.2%	28.4%	51.8%	32.7%	-0.8%	-0.9%	84.1M	-2.94B	-14.0M	0.48	43.50	160,416	76,301	1,476,767	1,253,301
2024-07-17	$38.55	$36.00	32.2%	9.2%	29.6%	53.3%	32.7%	-1.0%	-0.3%	74.2M	-2.61B	-14.4M	1.32	49.67	35,427	46,604	1,497,894	1,294,760
2024-07-18	$37.78	$36.00	31.4%	9.0%	30.9%	47.8%	32.1%	-0.8%	-0.1%	58.5M	-2.14B	-14.7M	0.93	54.05	30,698	28,416	1,498,992	1,310,897
2024-07-19	$37.50	$36.00	30.9%	8.9%	30.5%	44.6%	32.4%	-0.8%	-0.6%	10.5M	-1.99B	-14.4M	0.83	58.12	58,116	47,996	1,501,183	1,319,659
2024-07-22	$37.53	$36.00	31.1%	8.7%	29.2%	45.6%	30.9%	-2.7%	0.1%	39.4M	-1.72B	-14.2M	0.60	40.25	56,782	34,307	1,311,890	1,180,805
2024-07-23	$37.45	$36.00	30.6%	8.7%	29.3%	42.6%	30.6%	-1.5%	-1.6%	41.0M	-1.71B	-14.1M	0.66	30.43	23,211	15,282	1,337,258	1,190,542
2024-07-24	$37.39	$36.00	32.1%	9.2%	28.7%	52.8%	32.5%	-0.9%	-0.8%	41.1M	-1.69B	-14.0M	0.82	34.53	68,915	56,266	1,342,721	1,193,755
2024-07-25	$36.30	$36.00	33.3%	8.7%	31.1%	60.6%	31.0%	-0.5%	-0.9%	13.9M	-1.18B	-14.1M	0.59	39.55	80,800	47,319	1,354,352	1,214,019
2024-07-26	$36.53	$36.00	30.8%	8.9%	30.7%	44.0%	31.5%	-0.9%	-0.7%	19.1M	-1.33B	-14.2M	0.37	33.66	115,953	42,485	1,385,048	1,210,687
2024-07-29	$36.59	$36.00	30.4%	9.1%	30.2%	41.5%	32.0%	3.6%	2.4%	45.8M	-1.41B	-14.2M	0.52	34.08	58,471	30,686	1,400,856	1,201,075
2024-07-30	$36.97	$36.00	30.9%	9.2%	30.2%	44.5%	32.5%	-0.5%	-0.6%	56.4M	-1.58B	-14.3M	0.43	40.29	83,670	35,840	1,437,279	1,215,794
2024-07-31	$37.95	$36.00	31.6%	9.6%	31.1%	49.4%	34.0%	0.2%	1.8%	76.3M	-2.12B	-14.7M	0.36	46.18	83,906	30,247	1,484,030	1,239,227