GDX Options History — December 2024

In December 2024, GDX traded between $33.87 and $39.09. ATM implied volatility averaged 29.8%, placing in the 44.7% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded below realized volatility by 2.8% (HV 20d: 32.6%). Max pain ranged from $35.00 to $38.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.71.

Notable Days

  • 2024-12-20: Highest Volume — 348,856 contracts
  • 2024-12-11: Largest IV spike — 70.3% change
  • 2024-12-18: Highest IV Rank — 72.1%
  • 2024-12-18: Largest Expected Move — 9.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.07$33.87$39.09$36.92$33.95
Max Pain$35.43$35.00$38.00$38.00$35.00
ATM IV29.8%18.3%33.9%31.6%31.0%
Expected Move8.8%8.5%9.7%8.9%8.7%
HV 20d32.6%28.4%36.1%34.9%31.5%
HV 60d31.5%29.7%32.5%31.3%31.5%
IV Rank44.7%0.0%72.1%33.5%58.8%
IV Percentile37.9%0.0%83.7%55.2%46.4%
Term Structure1.7%-5.1%15.3%-0.6%0.1%
VWIV30.9%29.2%32.3%32.2%30.9%
Skew 25d0.6%-5.6%4.6%0.4%0.5%
Skew 10d2.1%-11.3%17.4%-8.9%1.5%
Call IV 25d30.3%26.5%31.6%30.8%31.3%
Put IV 25d30.9%23.3%33.2%31.3%31.8%
Bid-Ask Spread %39.9229.3451.0631.7239.59
Gamma HHI0.080.060.120.090.07
Net GEX31.2M-15.5M104.0M45.7M-3.0M
Net DEX-338.1M-1.87B692.2M-742.6M438.4M
Net VEX-12.2M-13.7M-10.9M-13.3M-11.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.091.750.370.97
Total Volume98,818.1926,871348,85676,12852,016
Total OI2,852,654.2862,586,0583,029,3892,891,6982,628,972

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-12-02$36.92$38.0031.6%8.9%34.9%33.5%32.2%0.4%-0.6%45.7M-742.6M-13.3M0.3731.7255,69820,4301,713,5041,178,194
2024-12-03$37.77$38.0031.5%9.2%36.1%32.9%32.2%0.5%-0.8%68.8M-1.19B-13.7M0.4629.3541,05618,6971,729,2721,184,655
2024-12-04$37.58$38.0030.6%9.2%36.1%25.7%32.3%0.6%0.1%65.4M-1.06B-13.7M0.4537.7543,41519,5491,741,0651,191,664
2024-12-05$37.53$35.0030.3%8.5%33.9%23.4%29.9%1.1%2.3%63.8M-1.04B-13.3M0.9434.4332,28930,4761,740,2781,204,847
2024-12-06$36.84$35.0032.2%8.5%32.8%38.6%29.5%0.8%0.8%38.5M-668.3M-12.8M0.6041.8452,83931,8891,744,4451,205,063
2024-12-09$37.98$35.0026.9%8.7%34.5%0.0%30.7%-0.1%6.4%76.4M-1.34B-13.2M0.2343.12131,59330,3731,730,4701,205,034
2024-12-10$37.97$35.0018.3%8.9%28.4%0.0%31.0%2.4%14.9%77.3M-1.29B-13.2M0.1736.1792,02116,0101,733,6141,212,316
2024-12-11$39.09$35.0031.1%9.0%28.6%59.6%31.6%0.7%0.7%104.0M-1.87B-13.0M0.5449.6263,80634,3271,702,7261,217,671
2024-12-12$37.73$35.0030.8%8.8%31.4%57.9%31.8%-0.1%0.2%67.7M-1.06B-13.0M0.5140.9645,18122,9651,712,2751,233,259
2024-12-13$36.66$35.0030.1%8.5%33.3%54.8%29.9%-0.9%0.3%25.9M-418.5M-12.3M0.9641.1864,95062,1631,718,6071,246,585
2024-12-16$36.41$35.0031.3%8.8%33.4%60.0%30.7%0.5%-0.5%17.2M-282.4M-11.9M0.7348.2554,14939,5811,675,4431,248,139
2024-12-17$36.17$35.0030.3%8.7%29.9%55.5%30.4%1.1%-1.3%10.0M-157.2M-12.1M0.6349.1170,11444,0441,697,8731,270,119
2024-12-18$34.41$35.0033.9%9.7%33.2%72.1%32.0%0.5%-5.1%-11.9M650.8M-11.2M1.0046.2648,65848,5871,715,3511,266,786
2024-12-19$34.34$35.0030.8%8.9%33.2%58.1%31.4%0.7%-0.6%-15.5M692.2M-11.1M0.8251.0675,26261,4021,729,2271,286,117
2024-12-20$34.80$35.0031.6%9.1%33.4%61.8%31.7%0.4%-0.7%1.4M401.0M-11.4M0.0944.53319,63929,2171,753,8641,275,525
2024-12-23$34.41$35.0030.5%8.9%33.2%56.5%31.0%1.2%0.6%9.0M376.7M-11.4M1.1630.4329,21033,9161,455,4641,147,449
2024-12-24$34.36$35.0024.8%8.5%32.0%30.0%29.7%-5.6%15.3%8.1M338.9M-11.4M0.5937.6016,86310,0081,463,2001,140,673
2024-12-26$34.52$35.0029.1%8.5%32.0%50.1%29.2%1.8%1.3%13.3M261.5M-11.3M1.7534.6123,83141,6881,471,1521,137,033
2024-12-27$34.15$35.0029.1%8.5%32.0%49.9%29.3%4.6%2.7%-123.3K374.4M-11.3M1.3441.3324,30832,5561,478,5331,133,218
2024-12-30$33.87$35.0030.9%9.0%31.8%58.7%31.4%0.9%-0.1%-7.0M487.3M-10.9M0.5729.3470,26240,1441,450,3791,135,679
2024-12-31$33.95$35.0031.0%8.7%31.5%58.8%30.9%0.5%0.1%-3.0M438.4M-11.1M0.9739.5926,41225,6041,477,2411,151,731