COPX – Global X Copper Miners ETF

ETF

Natural Resources | Inception: 2010-04-19

Quick Stats

Trend Signal
$83.58
Last Close
Official EOD price – basis for all calculations
▼ Short
Swing Trend
Moving average structure confirms downtrend – bears in control
+10.27%
Signal Edge
Moderate edge across 1 signals – signal performs above random, not exceptional
4.4
Trend Strength (ADX)
Weak / ranging – trend signals less reliable
Options Signals
13%
IV-Rank (52w)
Options are historically cheap – premium buying favored
21% / 79%
Call / Put Flow
Bearish positioning – put premium dominates options flow
Last Trendchange Signal
05.08.26
Date
Signal entry date
$86.72
Entry Price
Closing price at signal date
24d
Days Held
Trading days since signal
-1.33%
+10d
Return after 10 trading days
+2.91%
+20d
Return after 20 trading days
+9.86%
+30d
Return after 30 trading days
+9.86%
+60d
Return after 60 trading days

Trend Overview

Neutral – No Clear Edge Composite Score: 0 / 7

COPX is in a neutral phase with no clear directional edge. Trend and momentum indicators are roughly balanced between positive and negative readings.

What to watch

No actionable setup is present. The market is not offering a clean edge in either direction. Patience is the discipline here.

Options Signal Highlight

COPX Price Chart

Technical Trend Analysis

As of 07.10.2026  ·  Close: $83.58  ·  ATR14: $3.08

Neutral – No Clear Edge Composite Score: 0 / 7

COPX is in a neutral phase with no clear directional edge. Trend and momentum indicators are roughly balanced between positive and negative readings.

What to watch

No actionable setup is present. The market is not offering a clean edge in either direction. Patience is the discipline here.

Indicator Signal Detail
Swing Trend ▼ Short Primary directional bias
Momentum ▼ Down · -20d Strength: -0.21 – Rising
Trend Strength (ADX) 4.4 – Weak ADX38: 4.8
Volatility (HV30) 37.7% – Calm HV90: 47.7% | HV180: 51.8%
Vola Compression None Normal range
MA Structure Golden Cross ✓ Stack: Mostly aligned (2/3)
EMA21 Distance -1.10 ATR ↑ EMA21: $85.52
GD200 Extension 0.2 ATR – Normal GD20: -1.0 | GD50: -1.5 | GD100: -0.3
📉 Downside Momentum Intensifying
Downward momentum active for -20 days and still building (-0.21). Selling pressure is not easing.
⚪ Trend Strength – ADX14: 4.4 (Weak)
Weak or ranging market. ADX38: 4.8. Trend-following signals carry lower reliability.
🔻 Volatility Calm
HV30: 37.7% | HV90: 47.7% | HV180: 51.8%. Short-term vol is below its 90-day average. Calmer conditions favour tighter setups.
⭐ Golden Cross – Long-term Bullish
Golden Cross in place. GD50 $87.73 above GD200 $83.17 by 5.49%. Long-term structure is bullish. MA stack: Mostly aligned (2/3).
📈 EMA21 – Trend Accelerating
Price is pulling away from the EMA21 ($85.52) with -1.10 ATR distance and growing.
📐 Key Price Levels & ATR Distance
GD20: $86.19 (-1.0 ATR) | GD50: $87.73 (-1.5 ATR) | GD100: $84.31 (-0.3 ATR) | GD200: $83.17 (0.2 ATR). ATR14: $3.08.

Monthly Performance History

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
2010 -7.24 -12.46 -10.21 24.34 -6.75 15.88 5.65 -1.30 14.60 36.19
2011 -5.87 -2.15 0.52 3.98 -4.35 1.60 0.97 -11.76 -31.03 36.42 0.85 -2.81 -32.21
2012 10.72 -0.73 -10.74 -2.14 -21.00 4.73 -1.08 3.64 10.94 1.34 -1.85 3.61 -0.38
2013 -3.52 -10.53 -2.80 -5.56 -1.66 -16.64 -1.26 2.47 2.43 2.74 -7.00 8.02 -30.54
2014 -5.04 8.70 -2.02 2.43 5.76 1.26 3.90 -4.40 -10.88 -5.38 -3.43 -1.92 -19.25
2015 -17.65 15.70 -5.83 17.67 -10.43 -4.61 -16.88 -5.46 -13.25 15.90 -16.57 -7.26 -46.25
2016 -12.81 20.91 13.66 22.99 -14.88 5.95 10.88 -7.35 5.20 4.89 21.54 -5.93 75.31
2017 19.65 -6.75 -8.33 -4.62 -6.23 3.73 18.70 5.10 -8.14 1.97 -5.73 13.26 34.67
2018 0.08 -3.58 -3.90 1.96 0.27 -6.94 1.21 -9.51 T
6.49 		-13.09 -3.02 -8.94 -33.00
2019 T
12.55 		7.28 0.47 -3.78 -12.85 T
12.39 		-8.99 -9.26 T
5.37 		T
4.34 		1.19 12.89 13.17
2020 -15.56 -10.61 -26.32 T
28.69 		11.70 9.90 12.05 10.32 -8.53 T
4.37 		24.04 11.59 48.79
2021 -6.63 17.37 -6.18 T
8.39 		3.10 -11.03 T
2.34 		-2.65 T
-6.74 		T
7.94 		-5.37 T
6.50 		17.75
2022 1.74 11.73 6.81 -14.26 0.08 T
-21.40 		2.35 T
0.11 		-1.55 -3.01 T
27.38 		-3.70 4.33
2023 15.46 -9.62 T
-2.20 		0.43 -12.41 T
5.17 		9.26 -7.30 -4.93 -6.49 T
5.27 		4.52 4.87
2024 -2.74 T
-1.99 		16.41 7.11 5.75 -5.53 -3.80 T
3.93 		T
17.94 		-9.15 -3.62 -9.83 2.61
2025 -0.88 T
0.50 		T
3.50 		T
-3.89 		7.96 7.35 -5.24 T
16.51 		19.26 2.03 T
6.79 		10.68 86.37
2026 16.08 12.32 -18.43 T
1.87 		T
11.50 		T
-14.53 		4.74 T
17.01 		-5.09 0.22 14.40

T A T badge marks a Trendchange signal in that month. Hover for entry price.

COPX - Trendchange Chart

StockBotty Trendchange COPX Chart

Trendchange Signal History

The last 10 Trendchange signals for COPX:

Date Entry Price Days Held +10d +20d +30d +60d
05.08.26 $86.72 24d -1.33% +2.91% +9.86% +9.86%
17.06.26 $86.76 3d -2.16% -2.16% -2.16% +0%
26.05.26 $87.51 8d -7.85% -7.85% +0% +0%
14.04.26 $86.43 6d -5.47% -8.96% -8.96% +0%
28.11.25 $64.30 49d +7.54% +17.74% +24.53% +36.77%
08.08.25 $46.24 58d +0.84% +10.42% +15.79% +34.75%
25.04.25 $39.19 29d -0.92% +2.6% +10.18% +13.14%
17.03.25 $42.17 12d -5.12% -7.35% -7.35% +0%
10.02.25 $41.77 6d -6.2% -6.2% -6.2% +0%
19.09.24 $43.67 20d +11.22% +5.66% +5.66% +5.66%

Signal Statistics - Historical Edge

Calculated edge for COPX: 10.27%

Range N 10d 20d 30d 60d Signal
15-20% 1 +18.46% +33.44% +29.16% +30.65% Hold
10-15% 1 +11.22% +5.66% +5.66% +5.66% Close
7-10% 8 +8.31% +10.65% +10.2% +11.67% Hold
5-7% 3 +6.16% +11.28% +16.54% +19.17% Hold
3-5% 6 +4.04% +7.8% +11.27% +10.22% Hold
1-3% 5 +1.53% +0.45% +0.03% +1.04% Close
0-1% 9 +0.52% +3.52% +5.06% +9.27% Hold
-1-0% 5 -0.7% -2.22% -0.7% +1.56% Neg
-3-1% 7 -1.97% -1.96% -0.97% +0.69% Neg
-5-3% 5 -4.02% -3.64% -3.64% -3.64% Neg
-7-5% 4 -5.57% -7% -7% -1.37% Neg
-10-7% 3 -8.48% -7.64% -5.02% -2.87% Neg
Exit Rules: Stoploss: -10% | Close if below 0% after 10 days

Signal data as of October 7, 2026

LOW ALERT ● Neutral Strength: 2.5

Options Metrics

IV-Rank (52w)
13%
Bottom 20% of the past 52 weeks – options are historically cheap. Conditions favor premium buyers (Long Call, Long Put).
Call / Put Flow
21% / 79%
More than 60% of options premium is flowing into puts. This indicates net bearish positioning by market participants.
GEX (Mio.)
-315,673.0
Negative GEX: market makers are short gamma. They sell dips and buy rallies, which amplifies moves and increases volatility.
GEX Flip Strike
$80.00 · 4.3%
The GEX flip strike is the price level where dealer gamma exposure shifts from positive to negative. A break through this level often accelerates the move.
Max Pain
$86.00 · 2.9%
Max Pain is the price at which the most options contracts expire worthless. As expiration approaches, price often gravitates toward this level due to dealer hedging flows.
Spot Price
$83.58
Last traded price at signal calculation time

Gamma Exposure Timeline

Key GEX levels, Max Pain, and unusual activity across weekly and monthly expirations, plotted around the current spot price.

COPX GEX timeline showing put/call gamma pins, max pain and flip strike

Key GEX levels, Max Pain, Anchor, Ceiling and unusual activity across 14-30 DTE, plotted around the current spot price.

COPX GEX timeline showing put/call gamma pins, max pain and flip strike

Put and call pins mark strikes where dealer gamma exposure concentrates. The GEX flip strike is where dealer hedging shifts from stabilizing (positive gamma) to amplifying (negative gamma) price moves. Max Pain is the strike where the most options expire worthless. Dashed markers flag unusual options activity. Learn how to use these signals in our options strategy guides →

Strategy Setups – You Decide

Based on current options data, 2 setups match the current conditions. Each strategy has different risk/reward characteristics – the final decision is always yours.

Profit Loss $0 Stock Price →
Why this fits today

IV-Rank at 13% – options are historically cheap. Bearish flow (21% calls) supports buying downside premium at below-average cost.

Advantages
✓ Profits from significant downside moves with limited maximum risk
✓ Cheap entry when IV-Rank is historically low
✓ Can be used as portfolio protection against existing long positions
Risks
✕ Time decay erodes value daily – timing the entry matters
✕ Needs a substantial move below the strike to be profitable
✕ Full premium is lost if the stock stays above the strike
▶ FAQ: Long Put
What is a Long Put?

A Long Put gives the buyer the right to sell the underlying at the strike price before expiration. It is a bearish strategy with maximum loss limited to the premium paid. It is often used as a hedge against existing long positions.

When is buying puts most cost-effective?

Buying puts when IV-Rank is low means you are purchasing protection at below-average cost. Many traders fail to hedge when volatility is cheap and scramble to buy expensive puts when fear spikes. Buying puts proactively when IV is historically low is a disciplined risk management approach.

Profit Loss $0 Stock Price →
Why this fits today

IV-Rank at 13% – buying both sides is cost-effective. A subsequent vol expansion or large move benefits both legs simultaneously.

Advantages
✓ Profits from any large directional move without needing to pick a side
✓ Buying when IV is historically cheap reduces the breakeven hurdle
✓ An unexpected vol expansion benefits both the call and put simultaneously
Risks
✕ Requires a significant move to recover the combined premium paid
✕ Theta decay accelerates as expiration approaches
✕ If the stock stays flat, both legs expire worthless
▶ FAQ: Long Straddle
What is a Long Straddle?

A Long Straddle buys a call and a put at the same strike and expiration. It profits from a large move in either direction. When IV is low, the premium cost is reduced, making the breakeven easier to reach on a directional move.

Why buy a straddle when IV is low?

Low IV means you are buying the options cheaply. If IV subsequently rises - due to an event or a directional move - both legs can gain value simultaneously, giving you a double benefit. The key is entering before the vol expansion.

All setups above are personal trade journal observations derived from options flow data. This is not financial advice. The decision to trade, and which strategy to use, is entirely yours.

View full options flow data and historical signals on the Options Flow Analysis Overview →

About Global X Copper Miners ETF

The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the underlying index. The underlying index is designed to measure broad-based equity market performance of global companies involved in the copper mining industry. The fund is non-diversified.

Fund Overview

MetricValue
Assets under Management$6.71 B
Expense Ratio0.65%
Dividend Yield2.59%
Portfolio Turnover0%
YTD Return2.91%
3-Year Return32.36%
5-Year Return20.19%

Sector Allocation

Sector Weight
Materials 11.3%
Financials 4.1%

Top 10 Holdings

Symbol Company Weight
LUNMF LUNDIN MINING CORP 6.26%
FCX FREEPORT-MCMORAN INC 5.46%
SCCO SOUTHERN COPPER CORP 5.15%
ERO ERO COPPER CORP 1.5%
IE IVANHOE ELECTRIC INC 0.69%
CNL COLLECTIVE MINING LTD ORDINARY SHARES 0.55%

Frequently Asked Questions – Global X Copper Miners ETF (COPX)

Disclaimer: All trade history on this page reflects the author's personal trading activity only. This is not financial advice. Past performance is not indicative of future results. See our full Disclaimer.