EEM Options History — May 2014

In May 2014, EEM traded between $41.30 and $43.22. ATM implied volatility averaged 15.4%, placing in the 6.7% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded above realized volatility by 3.5% (HV 20d: 11.9%). Max pain ranged from $37.50 to $38.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 1.61.

Notable Days

  • 2014-05-15: Highest Volume — 797,682 contracts
  • 2014-05-27: Largest IV spike — 12.7% change
  • 2014-05-30: Highest IV Rank — 15.8%
  • 2014-05-01: Largest Expected Move — 5.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.39$41.30$43.22$41.43$42.54
Max Pain$37.76$37.50$38.00$37.50$38.00
ATM IV15.4%13.6%16.6%16.3%16.6%
Expected Move5.4%5.2%5.8%5.8%5.3%
HV 20d11.9%10.8%12.8%12.1%12.4%
HV 60d14.9%13.7%15.9%15.9%14.1%
IV Rank6.7%0.0%15.8%9.2%15.8%
IV Percentile3.0%0.0%8.7%5.2%8.7%
Term Structure0.4%-0.6%1.6%0.3%-0.6%
VWIV22.1%17.7%32.6%22.3%19.7%
Skew 25d3.1%2.5%4.1%3.4%2.9%
Skew 10d6.9%4.6%10.5%8.1%5.1%
Call IV 25d14.1%12.1%15.4%15.0%15.0%
Put IV 25d17.2%15.1%19.0%18.4%17.9%
Bid-Ask Spread %8.046.7615.527.636.76
Gamma HHI0.080.060.220.060.07
Net GEX166.2M-44.6M483.9M-16.0M-44.6M
Net DEX-2.49B-4.88B-256.6M-474.6M-1.05B
Net VEX-41.0M-45.1M-37.1M-39.6M-45.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.610.593.241.253.01
Total Volume330,848.381116,929797,682162,102425,746
Total OI8,461,393.0487,932,9979,601,3607,963,3168,962,921

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2014-05-01$41.43$37.5016.3%5.8%12.1%9.2%22.3%3.4%0.3%-16.0M-474.6M-39.6M1.257.6371,90790,1953,142,0994,821,217
2014-05-02$41.61$37.5015.9%5.7%12.1%7.2%24.7%3.0%0.5%37.7M-1.04B-39.5M1.387.72114,273157,6713,176,8944,878,100
2014-05-05$41.30$37.5016.4%5.7%12.4%10.1%25.0%3.6%0.3%-8.3M-256.6M-39.1M2.297.6235,53981,3903,202,5234,847,719
2014-05-06$41.57$37.5016.6%5.7%12.6%11.3%20.9%3.1%-0.0%66.3M-1.12B-38.7M1.037.22110,842114,4493,211,6994,872,050
2014-05-07$41.81$37.5016.0%5.6%12.0%7.5%20.1%2.9%0.3%131.5M-1.82B-38.2M1.807.2584,911153,0713,286,2804,899,835
2014-05-08$41.73$37.5016.2%5.6%11.7%8.9%18.1%3.1%0.4%111.8M-1.48B-38.5M1.3113.15116,309152,8613,336,8124,956,716
2014-05-09$41.65$37.5015.8%5.6%11.3%6.4%23.3%3.1%0.3%98.1M-1.39B-38.5M0.896.82157,016139,6073,388,5865,009,672
2014-05-12$42.34$37.5014.5%5.4%12.7%0.0%21.1%2.9%0.3%267.6M-3.43B-38.2M0.917.16132,931120,7093,445,4355,023,027
2014-05-13$42.48$37.5014.3%5.3%12.8%0.0%21.4%2.5%0.1%304.9M-3.90B-37.1M0.707.45281,142197,5573,491,6865,036,060
2014-05-14$42.75$37.5015.7%5.3%11.5%7.9%22.7%2.5%0.1%365.6M-4.88B-38.4M1.517.52230,780349,5123,676,4405,192,821
2014-05-15$42.40$38.0015.4%5.4%11.5%6.5%22.9%3.0%0.2%269.3M-3.45B-42.1M0.598.30501,438296,2443,771,7425,404,661
2014-05-16$42.88$38.0015.3%5.2%11.7%5.5%20.2%2.8%0.0%483.9M-4.61B-43.3M3.2415.52143,065463,4504,036,6325,564,728
2014-05-19$42.99$38.0013.9%5.2%11.5%0.0%20.1%3.2%1.1%195.6M-3.12B-43.7M0.857.33116,90999,0883,212,6354,720,362
2014-05-20$42.55$38.0015.5%5.3%12.1%8.9%19.4%4.1%1.1%142.9M-2.22B-43.1M2.697.37125,444338,0553,271,4724,767,460
2014-05-21$42.84$38.0014.4%5.2%11.9%3.0%19.2%3.5%1.3%126.7M-2.70B-44.3M2.037.5182,879168,2783,330,9525,033,676
2014-05-22$43.22$38.0013.9%5.2%12.2%0.1%17.7%3.0%1.6%232.3M-3.78B-42.9M1.596.97104,289165,4693,366,3805,003,030
2014-05-23$43.12$38.0013.6%5.2%10.8%0.0%32.6%3.1%1.6%234.6M-3.44B-43.3M1.677.7071,065118,7863,417,5275,081,556
2014-05-27$42.80$38.0015.4%5.2%11.4%9.2%26.6%3.1%-0.3%165.6M-2.43B-42.1M0.957.0898,25092,9503,405,4665,052,733
2014-05-28$43.02$38.0016.0%5.2%11.1%12.8%24.6%3.2%-0.5%176.9M-2.88B-43.1M3.216.80108,078346,4543,427,9335,102,675
2014-05-29$43.14$38.0015.7%5.2%11.0%11.1%0.0%3.2%0.0%147.2M-2.86B-43.2M0.997.9195,20194,0063,448,9025,410,140
2014-05-30$42.54$38.0016.6%5.3%12.4%15.8%19.7%2.9%-0.6%-44.6M-1.05B-45.1M3.016.76106,284319,4623,501,1625,461,759