VanEck Gold Miners ETF (GDX) Volatility Skew
Implied volatility skew shows how IV varies across strike prices for a given expiration. Steeper skews indicate higher demand for downside protection relative to upside speculation.
Snapshot as of Apr 21, 2026.
- Spot Price
- $93.65
- ATM IV
- 48.6%
- IV Skew 25Δ
- -0.02
As of Apr 21, 2026, VanEck Gold Miners ETF (GDX) at-the-money implied volatility is 48.6%. The 25-delta skew is -0.023 — puts carry meaningful premium over calls, a classic equity downside-protection skew. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.