Zacks Investment ResearchT3·3d ago
GDX VanEck Gold Miners ETF
ETF 91.02 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
GDX
$91.02
—
Key stats
$91.02
- 52-Week Range
- $69.74 – $117.17
- YTD
- +6.17%
- IV Rank (30D)
- 49.43
- Straddle Price
- $9.68
- P/C Vol Ratio
- 0.91
- Open
- $90.12
- Day Range
- $89.90 – $91.49
- Volume
- 17,195,256
- Prev Close
- $87.60
About
VanEck Gold Miners ETF (GDX) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2006-05-16
- Has Options
- Yes
- Homepage
- https://www.vaneck.com/us/en/investments/etf/
Fund profile
holdings as of Nov 5, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.51% issuer, Nov 9, 2026
- Assets
- $26.9B issuer-reported, Nov 5, 2026
- Trailing yield
- 0.72% paid annual
- Average daily volume
- $1.8B 30 sessions
- Holdings
- 61 top 10 are 60.3%
- Listed
- May 16, 2006 NYSE Arca
- Tracking difference
- -1.83 pts vs index, after fees, FY 2025
Cost54
Liquidity100
Scale100
Diversification46
Moves with. Gold (62% of its variance, beta 1.28); US large-cap stocks (8% of its variance, beta 0.64); Developed markets ex-US over US (4% of its variance, beta 0.57). These factors explain 80% of its daily moves over the last year.
Stated objective. VanEck Gold Miners ETF (the Fund) seeks to track as closely as possible, before fees and expenses, the price and yield performance of the MarketVector Global Gold Miners Index (the Gold Miners Index or the Index). (from the fund's prospectus)
All 61 holdingsFlow historySimilar fundsOverlap toolAll Metals & Mining ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- −$182M latest reported month
- Latest 3 months
- −$561M −2.5% of assets
- Latest 12 months
- +$709M +3.1% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$182M |
| May 2026 | −$373M |
| Apr 2026 | −$6.2M |
| Mar 2026 | −$661M |
| Feb 2026 | +$1.0B |
| Jan 2026 | +$568M |
| Dec 2025 | +$513M |
| Nov 2025 | −$523M |
| Oct 2025 | +$750M |
| Sep 2025 | −$631M |
| Aug 2025 | +$480M |
| Jul 2025 | −$253M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| AUAUGlobal X Gold Miners ETF | 70% | 0.35% | $5.1M | — | compare |
| GDMNWisdomTree Efficient Gold Plus Gold Miners Strategy Fund | 63% | 0.45% | $158M | +2.0% | compare |
| RINGiShares MSCI Global Gold Miners ETF | 63% | 0.39% | $2.3B | +26.4% | compare |
| PMTLFirst Trust Indxx Quality Precious Metals Miners ETF | 46% | 0.65% | $2.3M | — | compare |
| GDXJVanEck Junior Gold Miners ETF | 33% | 0.52% | $7.9B | +19.7% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Nov 5, 2026issuer data- Holdings vs fair value
- +13.5% 64% under, 4% over · 78% covered
- Above 200-day average
- 53% 48% above 50-day · by weight
- Short interest
- 2.1% of float, weighted · 3.6 days to cover
- Insider buying
- 0% of weight had net insider buying, 90 days; 17% net selling
- 13F holders
- +3.5% change in shares held by institutions, latest quarter
- Reporting earnings
- 17.7% of weight in 7 days; 17.7% in 14
Holdings reporting in the next 14 days · weighted implied move this week 1.35%
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Nov 3, 2026 → Nov 4, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | Torex Resources Inc | — | 0.55% | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.9%. Full holdings and history
Under the hood
fiscal year to Dec 31, 2025SEC census- Authorized participants
- 6 active of 40 with agreements; top 3 did 85%
- Created · redeemed
- $3.2B · $6.2B over the fiscal year
- Redemptions in kind
- 100% creations 99% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 4.56% of assets on loan on average; earned 1.1 bp
- Return vs index
- -1.83 pts after fees; -0.56 before; daily s.d. 0.37
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-11-05
Holdings
61
AUM
$26.9B
Provider
VanEck
Inception
2006-05-16
Exchange
ARCX
Data As Of
2026-11-05
Expense Ratio
0.51%
Dividend Yield
0.72%
Distribution
Annual
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-22 | 2025-12-26 | $0.6331 | CD |
| 2024-12-23 | 2024-12-24 | $0.4025 | CD |
| 2023-12-18 | 2023-12-22 | $0.5001 | CD |
| 2022-12-19 | 2022-12-23 | $0.4762 | CD |
| 2021-12-20 | 2021-12-27 | $0.5348 | CD |
Asset Allocation
Top Holdings
top 50 of 61 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| NEM | Newmont Corp | 11.75% | Equity (US) | US |
| AEM | Agnico Eagle Mines Ltd | 11.59% | Equity (Foreign) | CA |
| B | Barrick Mining Corp | 8.03% | Equity (Foreign) | CA |
| WPM | Wheaton Precious Metals Corp | 5.60% | Equity (Foreign) | CA |
| FNV | Franco-Nevada Corp | 5.47% | Equity (Foreign) | CA |
| AU | Anglogold Ashanti Plc | 4.73% | Equity (US) | — |
| GFI | Gold Fields Ltd | 4.06% | Equity (Foreign) | ZA |
| KGC | Kinross Gold Corp | 3.52% | Equity (Foreign) | CA |
| — | Northern Star Resources Ltd | 3.09% | Equity (Foreign) | AU |
| PAAS | Pan American Silver Corp | 2.46% | Equity (Foreign) | CA |
| RGLD | Royal Gold Inc | 2.26% | Equity (US) | US |
| EQX | Equinox Gold Corp | 1.90% | Equity (Foreign) | CA |
| AGI | Alamos Gold Inc | 1.83% | Equity (Foreign) | CA |
| CDE | Coeur Mining Inc | 1.80% | Equity (US) | US |
| — | Evolution Mining Ltd | 1.60% | Equity (Foreign) | AU |
| — | Industrias Penoles Sab De Cv | 1.28% | Equity (Foreign) | MX |
| — | Endeavour Mining Plc | 1.24% | Equity (Foreign) | GB |
| IAG | Iamgold Corp | 1.23% | Equity (Foreign) | CA |
| — | Zijin Gold International Co Ltd | 1.15% | Equity (US) | — |
| HL | Hecla Mining Co | 1.13% | Equity (US) | US |
| — | Lundin Gold Inc | 1.13% | Equity (Foreign) | CA |
| AG | First Majestic Silver Corp | 1.09% | Equity (Foreign) | CA |
| — | G Mining Ventures Corp | 1.01% | Equity (Foreign) | CA |
| — | Fresnillo Plc | 1.00% | Equity (US) | — |
| BTG | B2gold Corp | 0.99% | Equity (Foreign) | CA |
| — | Dundee Precious Metals Inc | 0.92% | Equity (US) | — |
| OGC | Oceanagold Corp | 0.90% | Equity (Foreign) | CA |
| HMY | Harmony Gold Mining Co Ltd | 0.85% | Equity (Foreign) | ZA |
| EGO | Eldorado Gold Corp | 0.82% | Equity (Foreign) | CA |
| BVN | Cia De Minas Buenaventura Saa | 0.80% | Equity (Foreign) | PE |
| — | Discovery Mining Ltd | 0.74% | Equity (Foreign) | CA |
| SSRM | Ssr Mining Inc | 0.73% | Equity (US) | — |
| — | Perseus Mining Ltd | 0.69% | Equity (Foreign) | AU |
| OR | Or Royalties Inc | 0.67% | Equity (Foreign) | CA |
| — | Ramelius Resources Ltd | 0.67% | Equity (Foreign) | AU |
| — | Artemis Gold Inc | 0.63% | Equity (Foreign) | CA |
| — | K92 Mining Inc | 0.61% | Equity (Foreign) | CA |
| — | Zhaojin Mining Industry Co Ltd | 0.60% | Equity (Foreign) | CN |
| — | Amman Mineral Internasional Pt | 0.60% | Equity (Foreign) | ID |
| — | Torex Resources Inc | 0.58% | Equity (Foreign) | CA |
| — | Montage Gold Corp | 0.57% | Equity (Foreign) | CA |
| — | Capricorn Metals Ltd | 0.55% | Equity (Foreign) | AU |
| — | Genesis Minerals Ltd | 0.54% | Equity (Foreign) | AU |
| — | Vault Minerals Ltd | 0.53% | Equity (Foreign) | AU |
| CGAU | Centerra Gold Inc | 0.53% | Equity (Foreign) | CA |
| — | Greatland Resources Ltd | 0.50% | Equity (Foreign) | AU |
| AYA | Aya Gold & Silver Inc | 0.48% | Equity (Foreign) | CA |
| ARIS | Aris Mining Corp | 0.47% | Equity (Foreign) | CA |
| AUGO | Aura Minerals Inc | 0.45% | Equity (Foreign) | BR |
| SKE | Skeena Resources Ltd | 0.44% | Equity (Foreign) | CA |
Geographic Breakdown
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -10.39% | -3.26% | 7.96% | -8.57% | 10.24% | 9.88% | 0.98% |
| Feb | -12.75% | 12.61% | -15.97% | -9.20% | 0.40% | 22.99% | -0.32% |
| Mar | 5.18% | 6.94% | 15.08% | 15.70% | 15.76% | -20.44% | 6.37% |
| Apr | 2.26% | -11.40% | 1.51% | 3.43% | 7.01% | -8.04% | -0.87% |
| May | 10.48% | -8.16% | -7.48% | 5.94% | 7.31% | 2.73% | 1.80% |
| Jun | -13.95% | -14.38% | -5.94% | -4.45% | -3.18% | -12.96% | -9.14% |
| Jul | 2.83% | -6.71% | 2.35% | 11.92% | -0.77% | -2.06% | 1.26% |
| Aug | -6.27% | -9.19% | -3.21% | 3.62% | 20.44% | 29.53% | 5.82% |
| Sep | -8.99% | 4.60% | -7.49% | 6.84% | 17.90% | -7.26% | 0.93% |
| Oct | 8.11% | -3.51% | 7.77% | -0.27% | -6.57% | -11.13% | -0.93% |
| Nov | -0.19% | 17.61% | 11.42% | -5.50% | 16.73% | 15.26%* | 9.22% |
| Dec | 3.89% | -4.59% | -2.51% | -7.93% | 3.56% | -- | -1.52% |
| Total | -21.39% | -22.13% | -1.06% | 8.12% | 126.70% | 6.54% | 16.13% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $83.95
SMA 50: $89.40
SMA 200: $90.09
Current: $91.11
EMA 12: $84.57
EMA 26: $85.36
MACD: -0.7911 | Signal: 1.1762
BEARISH
ADX (14): 20.65
WEAK TREND
+DI: 34.63
−DI: 24.18
Momentum Oscillators
RSI (14): 59.40
NEUTRAL
Stoch %K: 89.71
Stoch %D: 73.70
Williams %R: -2.46
Volume & Volatility
BB Upper: $91.26
BB Lower: $76.64
NEUTRAL
OBV: 846,408,137
Vol SMA 20: 22,149,548
Vol ROC: -4.58%
ATR: $3.51
True Range: $3.89
HV 20: 56.1%
HV 30: 48.1%
HV 60: 48.9%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-08T00:00:00 – 2026-11-06T00:00:00
AI Analysis
Here is my comprehensive stock analysis report:
Executive Summary
Overall assessment: BEARISH (Confidence level: 6/10)
Key drivers: High volatility, recent overbought conditions, negative news sentiment Primary risks: Downside risk due to high beta and overbought RSI
2-3 sentence investment thesis: GDX is likely to experience a pullback or consolidation phase as the stock has reached an overbought level. Despite the positive news sentiment, the technical indicators suggest that the upward momentum may be losing steam.
Recent news sentiment impact: The recent news headlines have been generally positive, but this does not necessarily align with the technical signals, which indicate a potential pullback.
Technical Analysis
Trend Direction: Short-term: BEARISH (RSI overbought), Medium-term: NEUTRAL (SMA 20 and SMA 50 in decline), Long-term: BULLISH (SMA 200 rising)
Support/Resistance Levels: Key price levels from moving averages: - Upper resistance: $103.40 (Bollinger Bands upper band) - Middle support: $85.83 (SMA 20) - Lower support: $68.26 (SMA 200 lower band)
Momentum Signals: + RSI interpretation: OVERBOUGHT (>70), potential sell signal + MACD signal: BULLISH (crossing above signal line), but with a warning sign from the histogram + Bollinger Bands position: NEUTRAL (price touching upper band) - Volume Analysis: Volume trends indicate a potential reversal
News & Sentiment Analysis
Recent Headlines Summary: Positive news headlines have focused on gold miners and ETFs, with some articles highlighting potential upside in the sector.
Sentiment Assessment: Aggregate sentiment is POSITIVE, but this does not necessarily align with the technical signals.
Catalyst Identification: No immediate catalysts are apparent, but upcoming earnings reports may influence the stock's performance.
Market Narrative: The positive news headlines have driven the recent price increase, but the technical indicators suggest that the upward momentum may be losing steam.
Risk & Volatility Assessment
Beta Interpretation: High risk (beta >1.74), indicating that GDX moves more than the market.
Volatility Regime: Current volatility is HIGH (HV20 54.5%, HV30 51.6%), which is consistent with the beta value.
Options Market Signals: IV rank is MEDIUM (35.7%), and options activity suggests a BULLISH sentiment.
Downside Protection: Support levels include SMA 20 ($85.83) and lower band of the Bollinger Bands ($68.26).
Market Context & Positioning
Sector Performance: GDX has outperformed the broader market, but this may not continue given the overbought conditions.
Institutional Activity: Institutional interest is evident from the options activity, with a focus on calls.
Correlation Analysis: GDX has a moderate correlation (0.45) with the SPY index.
Relative Valuation: GDX is trading near the upper end of its recent range, which may indicate a potential pullback or consolidation phase.
Key Levels & Action Items
Critical Price Levels: Support/resistance levels include SMA 20 ($85.83), middle band of the Bollinger Bands ($92.13), and lower band ($68.26).
Breakout/Breakdown Levels: A break below $85.83 or above $103.40 could trigger significant moves.
Time-Sensitive Catalysts: No immediate catalysts are apparent, but upcoming earnings reports may influence the stock's performance.
Risk Management: Consider setting a stop-loss level around $95-96 to manage potential losses if the stock experiences a pullback.
Generated
News
All GDX news →
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Showing 1–10 of 50
Page 1 of 5
GDX Options Activity & IV Rank
GDX IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 45.0%
7-DTE IV: 43.9%
Expected Move: $9.68
7-DTE Move: $4.46
Days to Exp: 32 (2026-12-11)
Options Flow · All expiries
Call Volume: 87,295
Put Volume: 79,584
P/C Volume: 0.912
NEUTRAL
Call OI: 1,151,236
Put OI: 1,492,098
P/C OI: 1.296
Total OI: 2,643,334
ATM Options Pricing
ATM Call: $4.97
ATM Put: $4.70
Call %: 5.5%
Put %: 5.2%
Chain Summary
Chain Volume: 166,879
Chain OI: 2,643,334
Last Updated: 11/9/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 78th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
78%
vs own history
GEX tilt
+0.32
OI-weighted, today
Vanna tilt
+0.50
δ-sensitivity to IV
Charm tilt
-0.21
δ-decay vs time
Vanna tilt +0.50: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
? What is this?
· 426 ATM contracts, 779k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
49%
+2.9
pts
EXTREME
ATM 43.1% / Wing 45.9%
30 DTE / 10d
81%
+5.5
pts
EXTREME
ATM 45.2% / Wing 50.7%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)46.0MediumNov 9
IV Rank (30 DTE)49.4MediumNov 9
Straddle Price (30 DTE)$9.68Nov 9
Beta Analysis
Risk Metrics
Beta: 1.8601
Alpha: 12.87%
Correlation: 0.5010
R-Squared: 25.1%
Stock Volatility: 51.0%
Market Volatility: 13.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
GDX Institutional Ownership (13F)
Filings for 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
54 filers$4.97B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $1.51B | 30.31% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $630.38M | 12.69% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $610.06M | 12.28% | 2026-06-30 |
| 4 | Tidal Investments LLC | $422.20M | 8.50% | 2026-06-30 |
| 5 | Goldman Sachs Group Inc Custodian | $263.88M | 5.31% | 2026-06-30 |
| 6 | Graham Capital Management, L.P. | $189.53M | 3.81% | 2026-06-30 |
| 7 | Royal Bank of Canada Custodian | $166.17M | 3.34% | 2026-06-30 |
| 8 | Citigroup Inc. Custodian | $145.56M | 2.93% | 2026-09-30 |
| 9 | UBS Group AG Custodian | $130.96M | 2.64% | 2026-06-30 |
| 10 | Jain Global LLC | $120.34M | 2.42% | 2026-06-30 |
| 11 | Barclays PLC Custodian | $104.90M | 2.11% | 2026-09-30 |
| 12 | Walleye Trading LLC | $101.32M | 2.04% | 2026-06-30 |
| 13 | Parallax Volatility Advisers, L.P. | $101.31M | 2.04% | 2026-06-30 |
| 14 | Millennium Management LLC Custodian | $82.66M | 1.66% | 2026-06-30 |
| 15 | Balyasny Asset Management L.P. | $74.54M | 1.50% | 2026-06-30 |
| 16 | BNP Paribas Financial Markets Custodian | $45.78M | 0.92% | 2026-06-30 |
| 17 | Point72 Asset Management, L.P. | $41.36M | 0.83% | 2026-06-30 |
| 18 | BlackRock, Inc. Custodian | $24.22M | 0.49% | 2026-06-30 |
| 19 | TUDOR INVESTMENT CORP ET AL | $23.62M | 0.48% | 2026-06-30 |
| 20 | CAPITAL FUND MANAGEMENT S.A. | $22.57M | 0.45% | 2026-06-30 |
| 21 | PEAK6 LLC | $20.70M | 0.42% | 2026-06-30 |
| 22 | LMR Partners LLP | $19.62M | 0.39% | 2026-06-30 |
| 23 | MOORE CAPITAL MANAGEMENT, LP | $18.86M | 0.38% | 2026-06-30 |
| 24 | Bank of Montreal Custodian | $18.71M | 0.38% | 2026-06-30 |
| 25 | Neuberger Berman Group LLC | $18.11M | 0.36% | 2026-06-30 |
50 filers$7.12B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $1.58B | 22.17% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $1.56B | 21.86% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $784.08M | 11.01% | 2026-06-30 |
| 4 | Elliott Investment Management L.P. | $690.37M | 9.70% | 2026-06-30 |
| 5 | Balyasny Asset Management L.P. | $331.29M | 4.65% | 2026-06-30 |
| 6 | Barclays PLC Custodian | $279.20M | 3.92% | 2026-09-30 |
| 7 | Goldman Sachs Group Inc Custodian | $276.32M | 3.88% | 2026-06-30 |
| 8 | Jain Global LLC | $231.42M | 3.25% | 2026-06-30 |
| 9 | LMR Partners LLP | $186.17M | 2.61% | 2026-06-30 |
| 10 | Walleye Trading LLC | $152.46M | 2.14% | 2026-06-30 |
| 11 | Parallax Volatility Advisers, L.P. | $121.26M | 1.70% | 2026-06-30 |
| 12 | Citigroup Inc. Custodian | $117.65M | 1.65% | 2026-09-30 |
| 13 | TUDOR INVESTMENT CORP ET AL | $114.02M | 1.60% | 2026-06-30 |
| 14 | Royal Bank of Canada Custodian | $95.48M | 1.34% | 2026-06-30 |
| 15 | UBS Group AG Custodian | $64.17M | 0.90% | 2026-06-30 |
| 16 | Bank of Montreal Custodian | $56.63M | 0.80% | 2026-06-30 |
| 17 | TORONTO DOMINION BANK | $56.59M | 0.79% | 2026-06-30 |
| 18 | Wells Fargo & Company Custodian | $54.86M | 0.77% | 2026-06-30 |
| 19 | MIRAE ASSET SECURITIES (USA) INC. | $43.90M | 0.62% | 2026-09-30 |
| 20 | BNP Paribas Financial Markets Custodian | $37.48M | 0.53% | 2026-06-30 |
| 21 | Millennium Management LLC Custodian | $36.03M | 0.51% | 2026-06-30 |
| 22 | SIG BROKERAGE, LP | $31.12M | 0.44% | 2026-06-30 |
| 23 | CAPITAL FUND MANAGEMENT S.A. | $25.14M | 0.35% | 2026-06-30 |
| 24 | Fore Capital, LLC | $24.14M | 0.34% | 2026-06-30 |
| 25 | Tidal Investments LLC | $23.03M | 0.32% | 2026-06-30 |
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
40.22M
SI % of Float
13.05%
Days to Cover
2.08
Short Vol Ratio
51.4%
Free Float
—
Float %
—
Short interest 2026-10-15 • Short volume 2026-11-06
GDX Constituent Performance
Click any bar to view the full quote for that stock.
GDX Constituents (32 of 32)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| NEM | Newmont Corp | 11.75% | $125.81 | +4.05% | +15.33% | +7.39% |
| AEM | Agnico Eagle Mines Ltd | 11.59% | $200.71 | +4.77% | +17.78% | +6.66% |
| B | Barrick Mining Corp | 8.03% | $42.52 | +4.82% | +11.97% | +4.13% |
| WPM | Wheaton Precious Metals Corp | 5.60% | $143.91 | +5.58% | +20.78% | +4.20% |
| FNV | Franco-Nevada Corp | 5.47% | $264.04 | +3.57% | +15.17% | +7.44% |
| AU | Anglogold Ashanti Plc | 4.73% | $99.64 | +7.15% | +21.13% | +6.63% |
| GFI | Gold Fields Ltd | 4.06% | $41.16 | +5.08% | +18.38% | +11.97% |
| KGC | Kinross Gold Corp | 3.52% | $23.01 | +3.46% | +11.92% | -2.29% |
| PAAS | Pan American Silver Corp | 2.46% | $42.47 | +3.16% | +9.12% | -7.09% |
| RGLD | Royal Gold Inc | 2.26% | $282.31 | +6.21% | +19.63% | +19.16% |
| EQX | Equinox Gold Corp | 1.90% | $12.06 | +4.73% | +19.69% | +7.72% |
| AGI | Alamos Gold Inc | 1.83% | $32.49 | +2.07% | +17.04% | +0.06% |
| CDE | Coeur Mining Inc | 1.80% | $16.56 | +7.05% | +24.32% | -1.19% |
| IAG | Iamgold Corp | 1.23% | $19.72 | +5.12% | +23.25% | +6.19% |
| HL | Hecla Mining Co | 1.13% | $15.52 | +5.26% | +14.59% | -7.87% |
| AG | First Majestic Silver Corp | 1.09% | $15.91 | +4.95% | +11.10% | -6.36% |
| BTG | B2gold Corp | 0.99% | $5.64 | +4.44% | +18.24% | +7.63% |
| OGC | Oceanagold Corp | 0.90% | $29.19 | +4.40% | +19.93% | +6.84% |
| HMY | Harmony Gold Mining Co Ltd | 0.85% | $17.59 | +2.45% | +15.72% | +5.46% |
| EGO | Eldorado Gold Corp | 0.82% | $37.42 | +5.17% | +16.07% | -0.32% |
| BVN | Cia De Minas Buenaventura Saa | 0.80% | $28.83 | +2.99% | +7.37% | -10.75% |
| SSRM | Ssr Mining Inc | 0.73% | $29.79 | +4.97% | +11.41% | -15.94% |
| OR | Or Royalties Inc | 0.67% | $37.7 | +4.09% | +14.97% | +8.71% |
| CGAU | Centerra Gold Inc | 0.53% | $22.85 | +4.91% | +11.08% | +1.60% |
| AYA | Aya Gold & Silver Inc | 0.48% | $26.73 | +5.36% | +13.21% | +1.06% |
| ARIS | Aris Mining Corp | 0.47% | $16.78 | +7.22% | +14.31% | -1.00% |
| AUGO | Aura Minerals Inc | 0.45% | $84.72 | +8.86% | +27.89% | -7.72% |
| SKE | Skeena Resources Ltd | 0.44% | $32.56 | +5.27% | +19.84% | +2.04% |
| FSM | Fortuna Silver Mines Inc | 0.37% | $10.05 | +4.52% | +10.49% | -6.55% |
| SA | Seabridge Gold Inc | 0.33% | $27.97 | +6.07% | +16.49% | +1.34% |
| EXK | Endeavour Silver Corp | 0.31% | $8.36 | +6.57% | +15.56% | -2.17% |
| SVM | Silvercorp Metals Inc | 0.28% | $9.74 | +9.49% | +19.42% | -5.39% |