GDX Covered Calls: Premium Income for VanEck Gold Miners ETF
The VanEck Gold Miners ETF tracks gold mining companies globally. Gold price leverage creates very high IV and some of the largest ETF covered call premiums available.
What GDX shares could pay in covered call premium
The VanEck Gold Miners ETF tracks gold mining companies globally. Gold price leverage creates very high IV and some of the largest ETF covered call premiums available.
Covered Call Pro ranks live GDX call options by premium-per-day — strike, expiry, premium, and annualized yield — with illiquid chains filtered out. Run the live screener to see today's numbers.
GDX covered call FAQ
How much premium does a GDX covered call pay?
Premiums change daily with VanEck Gold Miners ETF's stock price and implied volatility. The Covered Call Pro screener ranks live GDX strikes by premium-per-day so you can see exactly what your shares could pay right now.
Do I need 100 shares of GDX to sell a covered call?
Yes. One options contract covers 100 shares, so selling one covered call on GDX requires owning at least 100 shares. If you own fewer, the position would not be "covered."
What is the risk of selling covered calls on GDX?
The main trade-off is capped upside: if VanEck Gold Miners ETF rises above your strike price by expiration, your shares can be called away at the strike. You keep the premium either way, but you give up gains beyond the strike. You also keep full downside exposure to the stock itself. This page is educational information, not investment advice.
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Educational information only — not investment advice. Options involve risk, including capped upside and full downside exposure to the underlying stock.