EEM Options History — October 2008

In October 2008, EEM traded between $19.30 and $34.58. ATM implied volatility averaged 101.1%, placing in the 73.3% IV rank vs the trailing year. The 30-day expected move averaged 26.2%. IV traded below realized volatility by 27.5% (HV 20d: 128.6%). Max pain ranged from $27.00 to $38.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 1.50.

Notable Days

  • 2008-10-22: Highest Volume — 405,094 contracts
  • 2008-10-15: Largest IV spike — 51.0% change
  • 2008-10-06: Highest IV Rank — 100.0%
  • 2008-10-24: Largest Expected Move — 32.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.64$19.30$34.58$34.58$25.43
Max Pain$30.83$27.00$38.00$38.00$27.00
ATM IV101.1%69.0%146.2%69.0%101.6%
Expected Move26.2%19.8%32.0%19.8%29.1%
HV 20d128.6%96.7%165.4%96.7%165.3%
HV 60d84.0%59.7%111.1%59.7%110.9%
IV Rank73.3%39.9%100.0%58.7%63.7%
IV Percentile97.9%94.0%100.0%99.2%95.2%
Term Structure-7.9%-18.6%-1.6%-9.7%-10.0%
VWIV90.6%72.6%108.8%73.3%101.8%
Skew 25d21.9%10.1%35.9%10.1%29.5%
Skew 10d39.3%20.3%59.8%20.3%55.7%
Call IV 25d80.8%59.7%98.1%67.5%85.1%
Put IV 25d102.7%77.6%125.2%77.6%114.6%
Bid-Ask Spread %10.786.1718.4410.176.17
Gamma HHI0.080.050.120.070.06
Net GEX-20.4M-37.8M-11.3M-15.0M-11.3M
Net DEX3.08B1.44B4.15B2.16B1.44B
Net VEX-9.2M-15.3M-5.2M-15.3M-10.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.500.503.941.991.07
Total Volume188,353.34889,922405,094131,232168,124
Total OI3,907,180.2172,897,9874,851,1763,989,7883,686,282

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2008-10-01$34.58$38.0069.0%19.8%96.7%58.7%73.3%10.1%-9.7%-15.0M2.16B-15.3M1.9910.1743,86887,3641,868,5002,121,288
2008-10-02$31.55$38.0087.2%25.0%100.5%82.1%85.9%15.0%-17.3%-22.1M3.00B-13.8M1.0412.3968,43171,2201,886,7442,151,060
2008-10-03$30.72$38.0085.1%24.4%100.4%79.4%82.1%11.3%-18.6%-26.5M3.34B-12.7M0.7114.03109,44277,8321,926,6272,159,714
2008-10-06$28.41$35.00103.5%22.6%102.9%100.0%78.8%12.3%-3.1%-25.8M3.79B-11.1M3.3615.5281,001271,8872,031,4882,216,301
2008-10-07$26.20$33.00104.3%23.3%104.5%100.0%80.8%12.1%-5.5%-27.5M4.13B-9.1M2.368.9963,483149,5802,001,6612,297,409
2008-10-08$26.20$33.00106.9%24.1%104.1%100.0%82.1%12.5%-6.6%-27.9M4.12B-9.4M0.6410.5878,07850,1582,034,6842,362,353
2008-10-09$24.27$33.00119.6%25.8%106.3%100.0%87.0%14.9%-6.1%-21.8M4.14B-8.0M1.0618.4452,22355,1022,101,7192,345,492
2008-10-10$24.55$33.00132.1%27.7%105.2%100.0%89.1%21.7%-8.0%-20.6M4.07B-8.4M1.1018.4098,148107,5992,136,2582,348,834
2008-10-13$30.14$31.0095.2%20.6%129.3%66.0%74.8%23.8%-5.2%-37.8M3.58B-11.6M0.6514.4077,97650,9942,182,9632,400,252
2008-10-14$28.64$31.0096.8%23.0%130.2%67.5%80.8%22.7%-9.1%-28.8M3.84B-10.5M0.7711.8176,67758,9552,223,6182,347,175
2008-10-15$24.01$30.00146.2%28.9%141.6%100.0%99.1%20.2%-11.6%-18.1M4.09B-7.8M1.589.2666,657105,4782,275,6642,366,942
2008-10-16$25.19$29.0095.8%27.5%139.1%58.9%101.1%28.5%-8.2%-21.0M4.15B-8.2M3.948.2259,278233,3492,286,6022,372,691
2008-10-17$24.40$29.00102.6%29.4%130.1%64.5%96.7%27.8%-6.6%-16.9M4.12B-8.7M1.187.6257,72967,9412,322,3512,528,825
2008-10-20$26.11$28.0072.5%20.8%132.7%39.9%72.6%20.8%-1.6%-21.8M2.30B-8.3M0.9110.4149,18144,7581,176,5001,721,487
2008-10-21$24.03$28.0078.5%22.5%134.8%44.9%77.2%15.2%-2.0%-19.7M2.43B-7.3M1.369.2138,17251,7501,183,4981,740,385
2008-10-22$21.50$28.00109.6%31.4%138.1%70.2%106.0%27.4%-12.6%-15.2M2.48B-6.2M3.4610.9490,769314,3251,201,5651,757,749
2008-10-23$22.10$28.00103.9%29.8%136.7%65.6%104.6%35.9%-7.5%-20.3M2.82B-6.8M2.3311.0957,328133,6511,252,4561,992,499
2008-10-24$19.82$28.00111.5%32.0%139.9%71.7%108.6%27.1%-5.6%-13.2M2.42B-5.8M0.8510.24156,309132,5441,281,1491,846,568
2008-10-27$19.30$28.00109.5%31.4%135.3%70.1%108.8%29.5%-4.4%-12.0M2.49B-5.2M1.567.6387,081136,0501,396,7891,906,343
2008-10-28$24.24$28.0087.4%25.1%158.8%52.1%87.2%27.7%-5.6%-18.9M2.27B-7.6M1.116.6758,66065,1381,452,1411,969,745
2008-10-29$22.60$28.00105.2%30.2%159.5%66.6%103.4%27.2%-8.8%-14.3M2.10B-8.0M1.059.2868,30471,9501,489,4541,987,350
2008-10-30$25.65$27.00100.6%28.8%165.4%62.9%102.6%31.4%-7.7%-12.2M1.47B-10.5M0.506.58191,86295,7211,529,3231,996,647
2008-10-31$25.43$27.00101.6%29.1%165.3%63.7%101.8%29.5%-10.0%-11.3M1.44B-10.7M1.076.1781,19786,9271,640,3782,045,904