VanEck Gold Miners ETF (GDX)
VanEck Gold Miners ETF Max Pain By Strike
GDX trades at $68.78, 25.1% above the near-term max pain of $55 expiring Sep 19, 2025 (1 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($42-$68), signaling increased put positioning or downside protection. Key magnetic zone at 52 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
VanEck Gold Miners ETF Max Pain By Expiry
Max pain for GDX shows a downward trend from 68 to 42, indicating bearish sentiment or hedging activity. The 44% spread signals divergent expectations across timeframes. Most levels below 68.78 may cap rallies. Strong magnetic level at 52 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Sep 19, 2025 | 55 | -13.78 (-20.03%) |
| Sep 26, 2025 | 67 | -1.78 (-2.59%) |
| Oct 3, 2025 | 65 | -3.78 (-5.50%) |
| Oct 10, 2025 | 68 | -0.78 (-1.13%) |
| Oct 17, 2025 | 61 | -7.78 (-11.31%) |
| Oct 24, 2025 | 67 | -1.78 (-2.59%) |
| Oct 31, 2025 | 67.5 | -1.28 (-1.86%) |
| Nov 21, 2025 | 64 | -4.78 (-6.95%) |
| Dec 19, 2025 | 52 | -16.78 (-24.40%) |
| Jan 16, 2026 | 55 | -13.78 (-20.03%) |
| Feb 20, 2026 | 65 | -3.78 (-5.50%) |
| Mar 20, 2026 | 51 | -17.78 (-25.85%) |
| May 15, 2026 | 54 | -14.78 (-21.49%) |
| Jun 18, 2026 | 52 | -16.78 (-24.40%) |
| Jul 17, 2026 | 55 | -13.78 (-20.03%) |
| Sep 18, 2026 | 65 | -3.78 (-5.50%) |
| Dec 18, 2026 | 42 | -26.78 (-38.94%) |
| Jan 15, 2027 | 52 | -16.78 (-24.40%) |
| Dec 17, 2027 | 60 | -8.78 (-12.77%) |
| Jan 21, 2028 | 57 | -11.78 (-17.13%) |