Trading in GDX is Weird

By Otto Rock

I stuck this on the Twittermachine Friday evening, after the normal end-week data dump had filled my XLS charts.

You’re not supposed to get much comeback from a wonky financials post on a Friday evening but from the number of RTs and Likes, it’s not just me that thinks this is odd. Text of Tweet here:

Something bizarre: The last 7 WEEKLY closes of $GDX are:

May 18th: $22.19
May 25th: $22.31
June 1st: $22.31
June 8th: $22.36
June 15th: $22.23
June: 22nd: $22.18
June 29th: $22.31 A spread of 18c?

A 0.8% max variation over 7 weeks? 3 closes out of 7 at exactly $22.31? WTF?

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Published by

Gary

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