GDX Options History — November 2024

In November 2024, GDX traded between $35.45 and $39.97. ATM implied volatility averaged 32.7%, placing in the 45.2% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded below realized volatility by 0.6% (HV 20d: 33.4%). Max pain ranged from $37.00 to $40.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.48.

Notable Days

2024-11-11: Highest Volume — 336,690 contracts
2024-11-27: Largest IV spike — 23.7% change
2024-11-27: Highest IV Rank — 100.0%
2024-11-01: Largest Expected Move — 11.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$37.72	$35.45	$39.97	$39.97	$37.59
Max Pain	$38.05	$37.00	$40.00	$40.00	$38.00
ATM IV	32.7%	30.0%	39.9%	34.8%	33.0%
Expected Move	9.4%	8.7%	11.3%	11.3%	9.1%
HV 20d	33.4%	28.3%	36.2%	28.8%	34.6%
HV 60d	30.9%	28.2%	32.5%	28.8%	31.6%
IV Rank	45.2%	22.4%	100.0%	63.0%	45.1%
IV Percentile	68.2%	29.8%	100.0%	91.7%	77.0%
Term Structure	2.9%	-1.6%	14.2%	0.6%	6.9%
VWIV	33.0%	30.5%	39.3%	39.3%	31.6%
Skew 25d	0.2%	-1.6%	3.5%	-0.6%	3.5%
Skew 10d	-0.0%	-16.3%	16.3%	-6.9%	0.1%
Call IV 25d	32.4%	29.7%	35.1%	34.8%	29.7%
Put IV 25d	32.6%	30.8%	34.6%	34.1%	33.2%
Bid-Ask Spread %	43.29	35.03	54.54	39.73	40.05
Gamma HHI	0.08	0.07	0.10	0.07	0.09
Net GEX	47.8M	16.0M	88.0M	30.8M	64.5M
Net DEX	-965.8M	-1.65B	111.9M	-1.57B	-1.12B
Net VEX	-14.0M	-14.9M	-12.7M	-14.9M	-13.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.48	0.14	1.00	0.47	0.67
Total Volume	143,775.8	29,224	336,690	88,507	29,224
Total OI	2,881,135.35	2,764,809	3,007,914	2,858,922	2,948,723

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
2024-11-01	$39.97	$40.00	34.8%	11.3%	28.8%	63.0%	39.3%	-0.6%	0.6%	30.8M	-1.57B	-14.9M	0.47	39.73	60,224	28,283	1,635,706	1,223,216
2024-11-04	$39.80	$38.00	35.0%	10.0%	28.3%	64.8%	35.2%	0.0%	0.2%	46.6M	-1.57B	-14.7M	0.83	46.76	42,261	34,978	1,597,641	1,167,168
2024-11-05	$39.97	$38.00	34.2%	9.9%	28.3%	58.6%	35.1%	-0.5%	-0.1%	48.5M	-1.65B	-14.5M	0.48	47.48	71,380	33,944	1,604,587	1,178,599
2024-11-06	$38.56	$38.00	32.6%	9.2%	31.2%	44.9%	33.0%	-1.6%	2.2%	25.6M	-869.3M	-13.9M	1.00	53.90	95,608	95,482	1,637,831	1,185,094
2024-11-07	$39.58	$38.00	31.4%	9.3%	30.7%	34.7%	32.8%	1.1%	1.4%	51.1M	-1.49B	-14.2M	0.29	49.08	93,865	26,974	1,663,788	1,163,459
2024-11-08	$38.88	$38.00	30.0%	8.9%	31.2%	22.4%	31.2%	0.1%	0.5%	42.0M	-1.15B	-14.1M	0.57	44.96	56,932	32,450	1,705,026	1,171,600
2024-11-11	$36.86	$38.00	31.9%	9.3%	36.2%	38.2%	32.8%	1.9%	1.6%	16.0M	-194.6M	-12.9M	0.39	47.10	241,686	95,004	1,695,145	1,155,902
2024-11-12	$36.05	$38.00	31.6%	9.4%	36.2%	35.7%	33.2%	0.4%	0.6%	22.1M	-21.9M	-12.7M	0.36	45.13	229,923	83,267	1,798,823	1,149,300
2024-11-13	$35.61	$38.00	30.3%	9.4%	35.4%	24.6%	33.2%	0.0%	3.0%	17.9M	111.9M	-12.9M	0.14	42.68	154,855	21,912	1,802,210	1,172,466
2024-11-14	$35.64	$38.00	30.8%	9.3%	35.1%	29.1%	33.2%	1.1%	3.8%	24.5M	-41.3M	-12.9M	0.49	47.14	138,436	68,457	1,791,719	1,142,232
2024-11-15	$35.45	$38.00	32.7%	9.6%	30.0%	45.9%	33.9%	-0.9%	1.0%	27.8M	-77.3M	-13.1M	0.19	54.54	177,011	33,295	1,864,366	1,143,548
2024-11-18	$36.95	$37.00	33.1%	9.4%	35.0%	48.5%	33.6%	-0.4%	1.6%	55.1M	-942.7M	-14.0M	0.28	36.44	177,931	50,506	1,685,439	1,085,822
2024-11-19	$37.80	$38.00	32.4%	9.3%	35.4%	43.3%	32.6%	-0.5%	4.2%	71.6M	-1.43B	-14.8M	0.21	36.07	133,972	28,351	1,720,604	1,115,240
2024-11-20	$37.64	$38.00	32.1%	9.2%	35.1%	40.6%	32.3%	-1.0%	1.9%	76.6M	-1.33B	-14.5M	0.64	41.71	76,749	48,767	1,746,053	1,118,458
2024-11-21	$38.02	$38.00	31.6%	9.0%	34.6%	36.4%	31.6%	-0.6%	1.3%	79.7M	-1.48B	-14.7M	0.35	36.94	56,490	19,690	1,759,034	1,153,678
2024-11-22	$38.27	$38.00	31.8%	9.0%	34.8%	37.8%	31.4%	-0.3%	1.4%	88.0M	-1.63B	-14.5M	0.52	39.54	69,192	35,690	1,757,464	1,161,749
2024-11-25	$37.16	$38.00	33.1%	9.1%	35.9%	48.8%	32.2%	0.4%	-1.6%	52.9M	-921.1M	-14.0M	0.44	35.03	61,107	26,934	1,731,245	1,157,812
2024-11-26	$37.30	$38.00	32.2%	9.0%	35.3%	41.6%	31.4%	1.6%	14.0%	55.5M	-939.2M	-14.5M	0.90	39.68	30,531	27,335	1,741,708	1,163,017
2024-11-27	$37.36	$38.00	39.9%	8.7%	35.3%	100.0%	30.5%	0.9%	14.2%	59.6M	-999.2M	-14.1M	0.41	41.94	61,384	25,436	1,754,150	1,173,085
2024-11-29	$37.59	$38.00	33.0%	9.1%	34.6%	45.1%	31.6%	3.5%	6.9%	64.5M	-1.12B	-13.9M	0.67	40.05	17,465	11,759	1,759,467	1,189,256