EEM Options History — January 2019

In January 2019, EEM traded between $38.50 and $42.95. ATM implied volatility averaged 19.8%, placing in the 35.9% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 0.2% (HV 20d: 19.6%). Max pain ranged from $39.00 to $41.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 1.20.

Notable Days

2019-01-09: Highest Volume — 983,236 contracts
2019-01-22: Largest IV spike — 10.5% change
2019-01-03: Highest IV Rank — 68.3%
2019-01-03: Largest Expected Move — 7.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.93	$38.50	$42.95	$39.07	$42.95
Max Pain	$39.69	$39.00	$41.00	$41.00	$41.00
ATM IV	19.8%	17.5%	24.6%	23.5%	18.7%
Expected Move	5.7%	5.0%	7.2%	6.7%	5.5%
HV 20d	19.6%	17.0%	21.9%	18.3%	19.6%
HV 60d	23.5%	21.4%	25.4%	24.3%	21.4%
IV Rank	35.9%	19.7%	68.3%	61.5%	25.9%
IV Percentile	51.4%	27.0%	86.1%	78.6%	40.9%
Term Structure	0.2%	-0.2%	0.8%	0.4%	0.2%
VWIV	20.1%	17.6%	24.1%	23.6%	19.2%
Skew 25d	3.2%	2.1%	4.9%	4.6%	2.6%
Skew 10d	5.9%	4.1%	8.7%	8.4%	5.2%
Call IV 25d	18.4%	16.3%	22.3%	21.4%	17.8%
Put IV 25d	21.5%	18.7%	27.2%	26.0%	20.4%
Bid-Ask Spread %	2.20	1.78	2.91	1.78	2.20
Gamma HHI	0.09	0.07	0.14	0.07	0.09
Net GEX	184.8M	-200.9M	511.7M	-123.4M	511.7M
Net DEX	-448.8M	-6.00B	5.08B	4.07B	-6.00B
Net VEX	-42.8M	-49.2M	-35.4M	-36.0M	-49.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.20	0.41	2.40	2.21	0.91
Total Volume	555,393.571	143,635	983,236	314,559	943,209
Total OI	8,824,355.952	7,620,016	10,506,100	7,621,251	9,636,059

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2019-01-02	$39.07	$41.00	23.5%	6.7%	18.3%	61.5%	23.6%	4.6%	0.4%	-123.4M	4.07B	-36.0M	2.21	1.78	98,037	216,522	3,446,305	4,174,946
2019-01-03	$38.50	$39.00	24.6%	7.2%	17.9%	68.3%	23.5%	4.9%	0.0%	-200.9M	5.08B	-35.4M	1.54	2.07	84,319	129,979	3,514,128	4,263,931
2019-01-04	$39.75	$39.00	22.7%	6.6%	21.9%	56.6%	23.0%	3.6%	0.3%	-40.5M	2.71B	-37.1M	0.59	2.11	452,413	268,174	3,556,723	4,309,997
2019-01-07	$39.86	$39.00	21.9%	6.4%	21.7%	51.7%	24.1%	3.8%	0.4%	-3.1M	2.32B	-37.9M	1.33	2.91	61,629	82,006	3,760,831	4,403,321
2019-01-08	$39.93	$39.00	21.1%	6.1%	21.6%	47.1%	21.2%	3.4%	0.2%	17.9M	2.14B	-37.6M	0.92	2.14	337,639	312,296	3,777,958	4,438,220
2019-01-09	$40.65	$39.00	20.6%	6.0%	21.1%	43.9%	19.5%	3.0%	0.2%	197.5M	119.6M	-39.4M	0.86	2.62	529,814	453,422	3,975,915	4,631,389
2019-01-10	$40.93	$39.00	19.4%	5.7%	21.1%	37.0%	19.6%	2.9%	0.4%	323.0M	-830.0M	-40.2M	1.41	2.47	276,096	389,947	4,209,415	4,762,413
2019-01-11	$40.72	$39.00	18.9%	5.5%	20.3%	33.5%	19.7%	2.7%	0.6%	204.0M	44.8M	-41.1M	1.29	2.25	220,141	282,977	4,280,270	4,962,645
2019-01-14	$40.42	$39.50	19.1%	5.5%	20.5%	35.0%	18.9%	3.0%	0.2%	124.6M	924.8M	-40.1M	1.63	2.21	247,878	404,736	4,314,449	4,955,557
2019-01-15	$40.68	$39.50	19.0%	5.5%	19.7%	31.0%	18.5%	3.0%	0.0%	202.6M	306.0M	-44.2M	0.41	2.23	234,722	96,167	4,490,211	5,353,910
2019-01-16	$41.18	$39.50	18.7%	5.4%	19.4%	27.4%	19.1%	2.8%	-0.0%	369.8M	-1.29B	-43.7M	1.01	1.96	432,981	436,989	4,535,066	5,415,170
2019-01-17	$41.28	$40.00	18.7%	5.4%	19.3%	27.3%	19.0%	2.6%	-0.2%	365.7M	-1.53B	-44.6M	0.70	2.84	285,960	200,437	4,612,300	5,672,890
2019-01-18	$41.59	$40.00	17.5%	5.0%	17.0%	19.7%	18.0%	2.1%	0.1%	312.5M	-2.61B	-44.4M	0.89	2.00	285,243	252,457	4,752,662	5,753,438
2019-01-22	$40.76	$40.00	19.4%	5.6%	18.9%	30.7%	21.4%	3.2%	0.2%	45.7M	378.5M	-45.0M	2.40	2.19	193,394	463,507	3,057,139	4,562,877
2019-01-23	$41.20	$40.00	19.1%	5.6%	18.7%	28.7%	20.4%	3.3%	0.3%	111.3M	-616.0M	-46.8M	1.64	2.48	169,991	278,995	3,195,095	4,971,318
2019-01-24	$41.60	$40.00	18.1%	5.2%	18.4%	21.9%	18.4%	3.2%	0.5%	219.2M	-1.68B	-46.6M	1.18	1.83	145,444	172,339	3,248,428	4,944,094
2019-01-25	$42.18	$40.00	17.9%	5.2%	18.3%	20.7%	17.6%	2.9%	0.8%	260.9M	-3.31B	-45.9M	0.41	1.97	655,661	267,690	3,305,249	4,998,752
2019-01-28	$41.72	$40.00	19.1%	5.5%	19.0%	28.3%	18.9%	3.1%	0.1%	268.0M	-2.18B	-47.0M	1.62	1.90	63,901	103,385	3,591,566	5,123,996
2019-01-29	$41.85	$40.00	18.7%	5.3%	18.8%	26.2%	19.2%	3.3%	0.3%	299.2M	-2.47B	-49.2M	1.66	2.17	133,553	221,249	3,763,941	5,328,635
2019-01-30	$42.73	$40.00	19.6%	5.6%	19.7%	31.6%	19.7%	2.9%	0.2%	416.1M	-5.01B	-48.4M	0.54	1.96	505,536	272,430	3,812,352	5,447,914
2019-01-31	$42.95	$41.00	18.7%	5.5%	19.6%	25.9%	19.2%	2.6%	0.2%	511.7M	-6.00B	-49.0M	0.91	2.20	493,244	449,965	4,079,266	5,556,793