AInvestOption Pilot Program
Options/GDX
G

GDXVanEck Gold Miners ETF

Options Analysis Report
AUM $32.1B|ARCX
● 2026-08-28$103.69
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y +69.1%YTD +20.9%7D +0.8%
167,580
30D
±13.0%
11%

GDX Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
Loading score history...

GDX Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

5.6
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 70.4% — elevated vs history

<1.05x

IV/HV 0.88x — IV ≤ HV

Sector Relative≤50%

Sector percentile 83% — above sector median

<1.1x

Front/Back 0.99x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 47.2% — normal range

<80%

Effective IV 57.1% (ATM 47.2% + spread 4.9% + bias) — good value

<3.0%

Total drag 7.18% (spread 4.94% + slippage 2.24%) — high friction

≥5.0

Vega efficiency 11.91 (vega 5.882 / spread 4.94%) — efficient

Sentiment

Bullish or bearish?

4.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -27%, Raw: -4%)
|net sentiment| ≥25%

Conviction-weighted: -27% (bearish) — Raw: -4%

≥15%

|OI skew| 22.5% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -1.5%, OI skew -22.5% — weak (same direction)

≥2/3 conditions

0-DTE 39%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -3%, ATM: -18%, OTM: +0% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 88% — very bearish vs sector

Activity

Unusual activity?

4.2
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.8x avg — normal

≥15%

Vol/OI 6.3% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change -3.8% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 74% — active vs sector

≥30%

Large trade volume 61% — heavy institutional

≥60%

Aggressive execution 30% — patient

≥30

Conviction -27 (bearish) — mixed

Liquidity

Can I trade efficiently?

6.4
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks5/8 checks passed
≤5.0%

Spread 4.9% — acceptable

≥10,000

OI 2,646,990 — deep

≥500

Volume 167,580/day — active

≤$0.50

$0.25 to cross — cheap

≥5 strikes

1 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 87% — much wider than sector

≥100 contracts

Depth 575.7 contracts (bid:325.4 ask:250.3) — deep

<1.0%

Avg slippage 2.24% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -0.9% — flat/unclear

<30 or >70

IV percentile 70% — seller opportunity

≥10pts kink

IV kink 0.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 32.11 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -27% @ 63% consistency — moderate (bearish)

≥40 composite score

Score 91 (ITM 20% + inst 61%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls5.5
bullishIV fair, mixed flow
Long Puts6.0
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.1
bullishIV fair, mixed flow
Covered Call5.7
bearishIV fair, mixed flow

For educational purposes only. Not investment advice.