GDX option chain

Strikes around the forward, as they were quoted at the close

Data as of 22 September 2026 (end of day)

2026-09-25(3 days)ATM 48.36%±4.31skew +0.35

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
1	8	$8.35	$10.20	—	$88.50	—	—	—	—	—
0	96	$8.15	$9.45	—	$89.00	56.03%	$0.03	$0.06	330	156
26	721	$8.00	$8.45	—	$90.00	52.42%	$0.05	$0.06	5,044	976
6	56	$7.25	$7.50	—	$91.00	51.50%	$0.08	$0.10	715	584
12	221	$6.10	$6.55	—	$92.00	49.38%	$0.11	$0.15	2,363	631
24	126	$5.15	$5.75	—	$93.00	48.38%	$0.19	$0.22	8,465	1,319
140	437	$4.30	$4.90	—	$94.00	47.57%	$0.30	$0.34	680	546
471	1,108	$3.70	$3.90	—	$95.00	49.09%	$0.49	$0.60	2,170	1,212
696	2,507	$2.96	$3.15	—	$96.00	47.77%	$0.74	$0.80	345	306
2,417	19,715	$2.36	$2.50	—	$97.00	48.45%	$1.04	$1.23	165	373
2,203	11,624	$1.83	$1.90	—	$98.00	48.06%	$1.51	$1.60	176	99
2,642	14,144	$1.36	$1.49	49.02%	$99.00	—	$1.98	$2.28	221	33
7,304	20,851	$1.04	$1.06	49.31%	$100.00	—	$2.57	$2.94	459	86
420	1,052	$0.63	$0.75	47.42%	$101.00	—	$3.25	$3.75	86	20
952	12,525	$0.53	$0.55	50.26%	$102.00	—	$3.90	$4.60	82	0
514	10,373	$0.30	$0.39	49.30%	$103.00	—	$4.95	$5.50	80	0
41	5,255	$0.20	$0.26	49.64%	$104.00	—	$5.85	$6.40	59	0
1,480	8,833	$0.15	$0.18	51.13%	$105.00	—	$6.75	$7.10	122	123
—	—	—	—	—	$106.00	—	$7.75	$8.35	54	5
—	—	—	—	—	$107.00	—	$8.65	$10.15	2	0
—	—	—	—	—	$108.00	—	$9.70	$11.20	2	2

Forward $98.31. The 25-delta put carries +0.35 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 43.24%±7.04skew -1.91

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
3	13	$7.45	$8.00	—	$91.00	43.78%	$0.47	$0.52	73	664
0	3	$6.95	$7.55	—	$91.50	43.66%	$0.54	$0.60	20	77
0	53	$6.50	$7.25	—	$92.00	43.70%	$0.60	$0.72	357	51
12	67	$6.10	$6.85	—	$92.50	43.73%	$0.68	$0.84	1,821	24
23	141	$5.90	$6.35	—	$93.00	43.74%	$0.78	$0.96	755	199
0	54	$5.35	$5.95	—	$93.50	43.42%	$0.91	$1.04	813	31
23	536	$5.20	$5.75	—	$94.00	43.10%	$1.02	$1.16	1,765	166
5	36	$4.75	$5.25	—	$94.50	43.59%	$1.19	$1.33	50	83
202	664	$4.40	$4.90	—	$95.00	43.38%	$1.33	$1.48	491	102
36	27	$4.05	$4.55	—	$95.50	43.21%	$1.50	$1.63	26	12
201	2,046	$3.80	$4.30	—	$96.00	42.99%	$1.63	$1.84	195	24
164	223	$3.60	$4.00	—	$96.50	43.60%	$1.86	$2.08	235	8
195	637	$3.35	$3.65	—	$97.00	42.47%	$2.04	$2.18	11,358	10,259
2,242	414	$2.95	$3.10	—	$98.00	43.88%	$2.56	$2.77	143	21
337	186	$2.33	$2.64	42.92%	$99.00	—	$3.10	$3.35	2,868	4
837	6,280	$2.04	$2.17	43.56%	$100.00	—	$3.65	$3.90	244	4
3,529	1,022	$1.74	$1.84	44.44%	$101.00	—	$4.25	$4.60	84	3
355	1,317	$1.35	$1.55	44.11%	$102.00	—	$4.95	$5.40	173	0
254	1,235	$1.13	$1.27	44.55%	$103.00	—	$5.70	$6.05	79	2
107	1,875	$0.91	$1.07	45.02%	$104.00	—	$6.50	$7.00	29	0
275	441	$0.75	$0.91	45.84%	$105.00	—	$7.20	$7.85	20	2

Forward $98.36. The 25-delta put carries -1.91 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 43.51%±9.23skew -0.42

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
—	—	—	—	—	$93.50	43.52%	$1.54	$1.82	22	25
6	691	$5.95	$6.35	—	$94.00	43.23%	$1.67	$1.97	1,281	5
0	9	$5.55	$6.00	—	$94.50	43.36%	$1.86	$2.14	0	3
7	185	$5.50	$5.70	—	$95.00	42.37%	$1.99	$2.22	172	5
5	0	$5.00	$5.35	—	$95.50	—	—	—	—	—
2	621	$4.85	$5.05	—	$96.00	41.98%	$2.42	$2.51	52	4
4	0	$4.55	$4.80	—	$96.50	43.11%	$2.62	$2.92	1	0
19	461	$4.15	$4.50	—	$97.00	41.85%	$2.79	$2.99	49	107
105	6	$3.90	$4.20	—	$97.50	43.06%	$3.05	$3.40	34	0
10	22	$3.65	$4.00	—	$98.00	43.40%	$3.30	$3.70	34	0
0	4	$3.45	$3.70	43.31%	$98.50	—	$3.55	$3.95	3	0
6	64	$3.20	$3.55	43.68%	$99.00	—	$3.85	$4.25	9	0
2	79	$2.99	$3.25	43.27%	$99.50	—	$4.10	$4.50	18	0
55	310	$2.79	$3.05	43.39%	$100.00	—	$4.40	$4.60	145	0
0	2	$2.60	$2.88	43.62%	$100.50	—	$4.65	$5.15	4	0
10	48	$2.42	$2.66	43.50%	$101.00	—	$4.85	$5.45	3	0
2	5	$2.25	$2.46	43.43%	$101.50	—	$5.15	$5.80	4	0
13	76	$2.09	$2.31	43.61%	$102.00	—	$5.60	$6.10	3	1
4	193	$1.93	$2.13	43.49%	$102.50	—	$5.85	$6.50	4	1
14	36	$1.79	$1.99	43.64%	$103.00	—	$6.35	$6.90	96	0
4	3	$1.67	$1.87	43.94%	$103.50	—	—	—	—	—

Forward $98.32. The 25-delta put carries -0.42 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 42.65%±10.77skew -0.70

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
—	—	—	—	—	$91.50	43.50%	$1.46	$1.76	1	3
26	640	$8.10	$8.35	—	$92.00	43.19%	$1.63	$1.82	5,493	39
0	2	$7.50	$8.05	—	$92.50	43.10%	$1.70	$2.03	261	0
72	2,913	$7.15	$7.65	—	$93.00	43.09%	$1.93	$2.11	610	37
—	—	—	—	—	$93.50	43.15%	$2.03	$2.35	18	1
8	184	$6.55	$6.95	—	$94.00	42.56%	$2.25	$2.37	835	37
0	1	$6.15	$6.80	—	$94.50	43.20%	$2.40	$2.70	16	12
469	5,634	$6.20	$6.30	—	$95.00	42.65%	$2.63	$2.75	5,989	883
8	5	$5.65	$6.00	—	$95.50	42.60%	$2.79	$2.98	2	102
253	500	$5.50	$5.70	—	$96.00	42.66%	$3.05	$3.15	687	57
4	22	$5.10	$5.45	—	$96.50	—	—	—	—	—
240	1,653	$4.90	$5.15	—	$97.00	42.45%	$3.45	$3.60	2,327	71
43	400	$4.45	$4.65	—	$98.00	42.87%	$3.95	$4.15	2,359	15
208	1,291	$3.95	$4.15	42.64%	$99.00	—	$4.45	$4.70	974	1
777	11,038	$3.60	$3.75	43.29%	$100.00	—	$5.05	$5.20	1,034	512
187	623	$3.25	$3.35	43.60%	$101.00	—	$5.65	$5.80	787	35
77	667	$2.74	$3.05	43.26%	$102.00	—	$6.25	$6.60	411	6
89	2,374	$2.43	$2.69	43.30%	$103.00	—	$6.95	$7.35	339	16
357	1,411	$2.13	$2.34	43.11%	$104.00	—	$7.65	$8.00	181	22
5,362	7,472	$1.97	$2.11	44.04%	$105.00	—	$8.25	$8.80	520	5
166	3,240	$1.68	$1.87	43.89%	$106.00	—	$9.15	$9.60	79	0

Forward $98.50. The 25-delta put carries -0.70 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 42.03%±12.07

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
12	30	$7.35	$7.85	—	$93.50	42.44%	$2.52	$2.71	31	0
3	37	$7.00	$7.55	—	$94.00	42.27%	$2.67	$2.89	112	5
1	27	$6.60	$7.25	—	$94.50	42.04%	$2.79	$3.10	25	0
37	233	$6.30	$7.00	—	$95.00	41.92%	$2.96	$3.30	38	67
2	18	$6.05	$6.60	—	$95.50	42.51%	$3.30	$3.50	2	0
12	24	$5.85	$6.35	—	$96.00	42.37%	$3.50	$3.70	16	0
797	5	$5.85	$6.15	—	$96.50	42.39%	$3.70	$3.95	20	1
0	12	$5.30	$5.80	—	$97.00	42.33%	$3.90	$4.20	209	0
2	9	$5.05	$5.50	—	$97.50	42.42%	$4.15	$4.45	3	0
37	30	$5.00	$5.25	—	$98.00	42.00%	$4.30	$4.70	54	1
0	4	$4.60	$5.00	—	$98.50	—	—	—	—	—
5	30	$4.50	$4.80	42.48%	$99.00	—	$4.95	$5.20	25	0
0	14	$4.15	$4.55	41.83%	$99.50	—	$5.10	$5.50	50	0
15	87	$3.95	$4.35	41.99%	$100.00	—	$5.50	$5.80	176	0
1	1	$3.70	$4.25	42.29%	$100.50	—	—	—	—	—
1	221	$3.55	$4.05	42.53%	$101.00	—	$6.05	$6.40	31	0
5	43	$3.35	$3.75	42.04%	$101.50	—	$6.40	$6.75	50	0
6	29	$3.20	$3.60	42.37%	$102.00	—	$6.75	$7.05	51	0
2	2	$3.05	$3.50	42.86%	$102.50	—	—	—	—	—
53	22	$2.89	$3.20	42.34%	$103.00	—	—	—	—	—
9	2	$2.74	$3.05	42.48%	$103.50	—	—	—	—	—

Forward $98.57. Not enough surviving quotes on both wings to measure the skew here.

2026-10-30(38 days)ATM 43.44%±13.81

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
2	33	$8.85	$9.40	—	$92.00	42.99%	$2.48	$2.78	33	34
0	130	$8.20	$8.70	—	$93.00	42.82%	$2.77	$3.15	28	3
6	19	$7.60	$8.05	—	$94.00	42.07%	$3.15	$3.35	13	3
4	25	$7.35	$7.80	—	$94.50	42.93%	$3.40	$3.70	4	0
16	67	$7.00	$7.50	—	$95.00	42.66%	$3.55	$3.90	64	1
11	4	$6.85	$7.20	—	$95.50	42.95%	$3.80	$4.15	91	0
24	113	$6.60	$6.90	—	$96.00	42.77%	$4.00	$4.35	12	1
35	0	$6.30	$6.65	—	$96.50	42.94%	$4.25	$4.60	2	1
45	23	$6.05	$6.35	—	$97.00	42.84%	$4.45	$4.85	10	31
2	3	$5.80	$6.10	—	$97.50	42.89%	$4.70	$5.10	1	0
12	154	$5.55	$5.85	—	$98.00	42.67%	$5.00	$5.25	71	50
5	83	$5.30	$5.60	—	$98.50	—	$5.25	$5.65	25	0
9	33	$5.10	$5.40	43.45%	$99.00	—	—	—	—	—
0	47	$4.90	$5.15	43.44%	$99.50	—	—	—	—	—
101	477	$4.65	$4.95	43.38%	$100.00	—	$6.05	$6.45	7	0
1	25	$4.50	$4.75	43.66%	$100.50	—	—	—	—	—
6	68	$4.25	$4.55	43.49%	$101.00	—	—	—	—	—
—	—	—	—	—	$101.50	—	$6.95	$7.40	2	0
5	4	$3.90	$4.15	43.58%	$102.00	—	$7.25	$7.75	4	0
4	115	$3.55	$3.80	43.67%	$103.00	—	—	—	—	—
0	11	$3.25	$3.50	43.96%	$104.00	—	—	—	—	—

Forward $98.50. Not enough surviving quotes on both wings to measure the skew here.

2026-11-20(59 days)ATM 44.06%±17.51skew -0.83

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	135	$12.20	$12.85	—	$89.00	43.60%	$2.62	$2.89	980	11
26	2,120	$11.50	$12.05	—	$90.00	43.11%	$2.96	$3.05	18,166	227
2	862	$10.90	$11.40	—	$91.00	43.19%	$3.25	$3.45	1,536	47
32	229	$10.50	$10.75	—	$92.00	42.95%	$3.60	$3.75	136	42
10	203	$9.80	$10.10	—	$93.00	43.26%	$4.00	$4.20	230	63
3	500	$9.05	$9.55	—	$94.00	43.06%	$4.40	$4.55	235	39
29	760	$8.70	$8.95	—	$95.00	43.20%	$4.85	$5.00	4,076	37
11	523	$8.15	$8.40	—	$96.00	43.18%	$5.30	$5.45	187	8
8	756	$7.60	$7.90	—	$97.00	43.18%	$5.70	$6.00	36	4
1,023	2,132	$7.25	$7.35	—	$98.00	43.34%	$6.30	$6.45	2,154	70
40	264	$6.65	$6.90	43.51%	$99.00	—	$6.75	$7.10	54	0
488	3,950	$6.35	$6.45	43.97%	$100.00	—	$7.35	$7.55	1,291	28
16	102	$5.95	$6.05	44.13%	$101.00	—	$7.95	$8.35	242	2
11	101	$5.35	$5.65	43.51%	$102.00	—	$8.55	$8.75	261	5
4	671	$5.05	$5.30	43.87%	$103.00	—	$9.10	$9.40	112	4
13	464	$4.70	$4.95	43.95%	$104.00	—	$9.80	$10.20	58	1
647	2,475	$4.45	$4.60	44.22%	$105.00	—	$10.45	$10.70	993	4
2	84	$4.10	$4.30	44.20%	$106.00	—	$11.10	$11.60	20	2
32	360	$3.80	$4.00	44.22%	$107.00	—	$11.85	$12.25	91	3
21	198	$3.50	$3.75	44.30%	$108.00	—	$12.60	$13.40	28	0
4	43	$3.25	$3.50	44.43%	$109.00	—	$13.30	$14.00	21	0

Forward $98.85. The 25-delta put carries -0.83 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 43.14%±20.92

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
2	277	$13.55	$14.05	—	$89.00	43.04%	$3.60	$3.85	238	14
130	6,884	$12.95	$13.40	—	$90.00	43.23%	$4.00	$4.20	5,298	873
85	2,839	$12.35	$12.80	—	$91.00	42.99%	$4.30	$4.55	6,091	7
3	1,588	$11.75	$12.25	—	$92.00	43.23%	$4.75	$4.95	869	1
0	158	$11.10	$11.65	—	$93.00	43.20%	$5.15	$5.35	564	8
5	630	$10.60	$11.05	—	$94.00	43.35%	$5.60	$5.80	514	2
226	10,725	$10.30	$10.45	—	$95.00	43.38%	$6.05	$6.25	1,988	90
215	748	$9.60	$10.00	—	$96.00	43.31%	$6.50	$6.70	310	12
4	383	$9.10	$9.55	—	$97.00	43.40%	$7.00	$7.20	3,960	1
1	83	$8.50	$8.95	—	$98.00	43.39%	$7.45	$7.75	736	3
5	165	$8.20	$8.55	—	$99.00	43.01%	$7.80	$8.30	429	0
583	30,744	$7.90	$8.10	43.41%	$100.00	—	$8.60	$8.85	1,296	4
0	457	$7.30	$7.75	43.18%	$101.00	—	$9.10	$9.45	659	0
402	407	$6.95	$7.25	43.12%	$102.00	—	$9.70	$10.05	99	3
2	1,171	$6.55	$6.90	43.23%	$103.00	—	$10.25	$10.65	248	6
8	131	$6.15	$6.55	43.25%	$104.00	—	$11.00	$11.30	319	5
239	1,916	$5.90	$6.15	43.44%	$105.00	—	$11.60	$11.95	586	4
300	208	$5.50	$5.80	43.28%	$106.00	—	$12.35	$12.65	64	1
3	709	$5.20	$5.55	43.56%	$107.00	—	$12.90	$13.35	16	0
3	451	$4.95	$5.20	43.64%	$108.00	—	$13.70	$14.05	805	0
1	427	$4.70	$4.90	43.76%	$109.00	—	$14.20	$14.75	30	0

Forward $99.33. Not enough surviving quotes on both wings to measure the skew here.

How to read this

Calls on the left, puts on the right, the strike between them — the layout every chain uses. Each block is one expiration, and the heading carries its days to expiry, the at-the-money implied volatility, and the one-standard-deviation move that volatility implies over that time.

Only the 21 strikes nearest the forward are stored, which is the part of the board that carries the volume. The shaded side is in the money: below the forward for calls, above it for puts.

Implied volatility is shown on the out-of-the-money side only. An in-the-money option is nearly all intrinsic value quoted on a wide market, so a volatility solved from it would look authoritative and mean very little. The price is still shown, because the price is real; the blank is deliberate.