GDX Options History — September 2024

In September 2024, GDX traded between $36.39 and $41.64. ATM implied volatility averaged 32.0%, placing in the 48.6% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 1.7% (HV 20d: 30.3%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.67.

Notable Days

2024-09-13: Highest Volume — 349,333 contracts
2024-09-10: Largest IV drop — 9.2% change
2024-09-26: Highest IV Rank — 59.6%
2024-09-26: Largest Expected Move — 9.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.10	$36.39	$41.64	$37.20	$39.66
Max Pain	$38.40	$35.00	$40.00	$35.00	$40.00
ATM IV	32.0%	29.0%	34.3%	31.7%	31.0%
Expected Move	9.3%	8.9%	9.7%	9.4%	9.2%
HV 20d	30.3%	26.2%	33.7%	28.8%	33.7%
HV 60d	29.8%	28.5%	31.8%	31.8%	29.6%
IV Rank	48.6%	30.7%	59.6%	49.9%	30.7%
IV Percentile	70.7%	17.5%	94.4%	69.8%	55.6%
Term Structure	0.2%	-1.7%	2.8%	-0.2%	2.3%
VWIV	32.9%	31.5%	34.6%	33.1%	32.7%
Skew 25d	0.1%	-1.2%	2.3%	0.4%	0.2%
Skew 10d	1.7%	-1.4%	11.6%	0.9%	11.6%
Call IV 25d	32.7%	31.0%	33.9%	31.6%	32.8%
Put IV 25d	32.8%	31.7%	34.4%	32.1%	33.0%
Bid-Ask Spread %	35.09	24.91	44.92	33.91	30.76
Gamma HHI	0.12	0.08	0.20	0.11	0.08
Net GEX	81.3M	28.4M	152.6M	47.7M	46.0M
Net DEX	-2.22B	-3.62B	-937.4M	-1.37B	-1.70B
Net VEX	-14.3M	-15.0M	-13.9M	-14.2M	-14.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.24	1.35	0.49	1.01
Total Volume	141,982.9	68,186	349,333	161,460	212,388
Total OI	2,986,657.8	2,439,205	3,473,935	2,931,426	2,637,896

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
2024-09-03	$37.20	$35.00	31.7%	9.4%	28.8%	49.9%	33.1%	0.4%	-0.2%	47.7M	-1.37B	-14.2M	0.49	33.91	108,672	52,788	1,618,228	1,313,198
2024-09-04	$36.91	$36.00	31.7%	9.4%	28.7%	49.9%	33.7%	-0.4%	1.5%	42.0M	-1.25B	-14.3M	0.27	30.80	64,208	17,612	1,667,497	1,326,807
2024-09-05	$37.39	$38.00	32.7%	9.1%	27.2%	57.0%	32.0%	-0.5%	-1.7%	59.7M	-1.55B	-14.3M	1.13	43.65	37,875	42,845	1,689,783	1,325,905
2024-09-06	$36.39	$38.00	32.7%	9.3%	28.4%	56.6%	32.8%	0.1%	-1.5%	28.4M	-937.4M	-14.0M	0.78	40.31	55,360	43,306	1,698,398	1,332,996
2024-09-09	$36.75	$38.00	31.9%	9.1%	28.6%	51.5%	31.8%	0.0%	-0.5%	43.9M	-1.16B	-14.0M	0.24	43.91	87,504	21,303	1,693,988	1,321,011
2024-09-10	$37.02	$38.00	29.0%	8.9%	26.5%	31.5%	31.5%	0.4%	0.7%	54.5M	-1.35B	-14.2M	0.86	44.92	36,661	31,525	1,741,511	1,333,965
2024-09-11	$37.27	$38.00	31.0%	8.9%	26.2%	45.5%	32.0%	1.4%	0.1%	65.3M	-1.48B	-14.0M	1.07	43.02	46,560	49,960	1,751,628	1,339,262
2024-09-12	$39.34	$38.00	31.1%	9.2%	32.3%	46.1%	32.6%	1.1%	1.5%	130.3M	-2.91B	-14.0M	0.25	40.99	186,378	45,962	1,761,378	1,377,890
2024-09-13	$40.02	$38.00	32.9%	9.3%	32.7%	58.0%	33.1%	-0.3%	-0.5%	152.6M	-3.37B	-13.9M	0.45	28.44	240,857	108,476	1,781,970	1,382,723
2024-09-16	$39.95	$39.00	32.0%	9.1%	31.3%	51.8%	32.3%	0.3%	-0.5%	144.3M	-3.18B	-14.2M	1.35	35.02	58,324	78,929	1,835,817	1,435,621
2024-09-17	$39.42	$39.00	32.3%	9.2%	31.1%	53.8%	33.2%	0.3%	0.5%	116.1M	-2.73B	-14.4M	0.80	40.16	48,489	38,868	1,809,966	1,495,830
2024-09-18	$39.41	$39.00	32.9%	9.4%	30.9%	56.3%	33.6%	-1.2%	2.8%	120.1M	-2.68B	-14.3M	0.53	30.91	112,361	59,751	1,824,069	1,520,450
2024-09-19	$39.52	$39.00	31.8%	9.2%	30.8%	48.6%	32.3%	-0.3%	-1.0%	127.2M	-2.78B	-14.3M	0.52	37.84	85,323	43,980	1,862,189	1,551,783
2024-09-20	$40.48	$39.00	31.9%	9.2%	30.6%	48.8%	32.9%	-1.1%	-0.7%	99.9M	-3.62B	-14.3M	0.38	34.36	162,312	62,084	1,887,846	1,586,089
2024-09-23	$40.38	$39.00	32.3%	9.3%	30.5%	44.5%	33.6%	0.1%	-1.3%	63.6M	-2.18B	-14.2M	0.73	28.03	79,361	57,956	1,345,093	1,094,112
2024-09-24	$41.58	$39.00	32.0%	9.4%	32.0%	42.2%	33.3%	-0.1%	0.2%	77.8M	-2.69B	-14.4M	0.39	24.91	80,133	30,984	1,392,704	1,138,381
2024-09-25	$41.27	$39.00	32.8%	9.4%	32.2%	46.4%	33.5%	-0.5%	-0.2%	77.6M	-2.56B	-14.6M	0.40	31.37	57,925	23,019	1,419,042	1,157,459
2024-09-26	$41.64	$39.00	34.3%	9.7%	31.1%	59.6%	34.6%	0.6%	-0.5%	88.8M	-2.75B	-14.9M	0.98	25.16	58,486	57,052	1,441,759	1,170,100
2024-09-27	$40.47	$40.00	32.4%	9.5%	33.0%	42.5%	33.7%	2.3%	2.4%	39.4M	-2.09B	-15.0M	0.67	33.32	92,092	61,989	1,457,305	1,211,507
2024-09-30	$39.66	$40.00	31.0%	9.2%	33.7%	30.7%	32.7%	0.2%	2.3%	46.0M	-1.70B	-14.9M	1.01	30.76	105,598	106,790	1,461,057	1,176,839