EEM Options History — July 2019

In July 2019, EEM traded between $41.86 and $43.41. ATM implied volatility averaged 15.1%, placing in the 7.0% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded above realized volatility by 3.1% (HV 20d: 12.1%). Max pain ranged from $41.50 to $42.50. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 1.95.

Notable Days

2019-07-19: Highest Volume — 855,790 contracts
2019-07-30: Largest IV spike — 7.0% change
2019-07-30: Highest IV Rank — 14.5%
2019-07-30: Largest Expected Move — 4.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.82	$41.86	$43.41	$43.41	$41.86
Max Pain	$42.36	$41.50	$42.50	$41.50	$42.50
ATM IV	15.1%	14.3%	16.3%	15.8%	15.5%
Expected Move	4.3%	3.9%	4.9%	4.1%	4.4%
HV 20d	12.1%	7.3%	15.6%	15.5%	7.8%
HV 60d	16.0%	15.3%	16.3%	16.3%	15.3%
IV Rank	7.0%	1.6%	14.5%	11.7%	9.1%
IV Percentile	9.7%	2.0%	23.0%	13.5%	16.7%
Term Structure	0.1%	-0.1%	0.3%	0.0%	-0.0%
VWIV	15.1%	13.5%	16.5%	14.6%	16.5%
Skew 25d	3.0%	2.6%	3.4%	3.1%	3.4%
Skew 10d	6.3%	5.0%	7.5%	7.0%	7.5%
Call IV 25d	13.8%	13.1%	14.8%	14.8%	14.1%
Put IV 25d	16.8%	16.0%	17.8%	17.8%	17.5%
Bid-Ask Spread %	1.88	1.69	2.15	1.69	2.03
Gamma HHI	0.08	0.07	0.10	0.08	0.08
Net GEX	-78.0M	-449.9M	179.2M	179.2M	-449.9M
Net DEX	746.5M	-1.49B	4.05B	-1.49B	4.05B
Net VEX	-52.8M	-55.4M	-50.5M	-54.6M	-51.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.95	0.86	5.12	1.17	1.42
Total Volume	325,813.318	129,420	855,790	375,787	282,031
Total OI	9,278,457.091	8,869,155	10,305,987	8,890,493	9,208,859

Daily Data (22 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
2019-07-01	$43.41	$41.50	15.8%	4.1%	15.5%	11.7%	14.6%	3.1%	0.0%	179.2M	-1.49B	-54.6M	1.17	1.69	173,075	202,712	2,890,571	5,999,922
2019-07-02	$43.31	$42.00	15.3%	3.9%	15.6%	8.3%	14.5%	3.0%	0.1%	158.3M	-1.31B	-53.8M	3.96	1.85	63,763	252,696	2,922,447	6,124,268
2019-07-03	$43.17	$42.00	15.8%	4.0%	15.2%	11.1%	13.5%	3.1%	0.0%	87.5M	-671.8M	-55.4M	2.28	1.70	105,434	240,787	2,932,086	6,260,191
2019-07-05	$42.90	$42.00	15.1%	4.4%	15.5%	7.0%	14.7%	2.7%	0.2%	129.7M	247.6M	-54.5M	0.93	2.00	203,227	188,449	2,939,405	6,348,564
2019-07-08	$42.67	$42.00	16.1%	4.6%	15.6%	13.7%	15.2%	3.3%	0.0%	-83.5M	854.0M	-54.2M	1.57	1.76	51,864	81,683	2,887,124	6,270,653
2019-07-09	$42.53	$42.50	16.1%	4.6%	15.3%	13.6%	16.3%	3.3%	-0.1%	-141.8M	1.40B	-54.4M	2.64	1.92	35,579	93,841	2,910,633	6,309,848
2019-07-10	$42.92	$42.50	15.2%	4.3%	15.3%	7.3%	15.3%	3.1%	-0.1%	-45.2M	277.8M	-53.3M	1.82	1.83	75,271	136,739	2,929,145	6,343,780
2019-07-11	$42.83	$42.50	14.9%	4.3%	14.5%	5.2%	15.1%	3.0%	0.2%	-68.1M	461.1M	-51.8M	1.19	1.79	76,928	91,553	2,944,600	6,363,395
2019-07-12	$42.84	$42.50	14.5%	4.2%	14.5%	2.5%	16.2%	2.7%	0.1%	-71.6M	443.7M	-51.8M	5.12	2.07	56,708	290,061	2,998,979	6,386,883
2019-07-15	$43.01	$42.50	14.5%	4.1%	13.9%	2.6%	14.8%	2.6%	0.3%	-53.3M	-121.8M	-51.1M	3.36	1.82	43,759	147,050	2,995,015	6,474,387
2019-07-16	$42.98	$42.50	14.4%	4.1%	13.7%	2.4%	14.5%	2.9%	0.3%	-69.3M	-15.6M	-50.5M	4.53	1.73	50,529	229,087	3,010,988	6,595,571
2019-07-17	$42.84	$42.50	14.3%	4.1%	11.0%	1.6%	13.9%	2.9%	0.0%	-123.6M	532.7M	-51.0M	1.57	1.96	275,013	431,575	3,001,788	6,672,048
2019-07-18	$43.09	$42.50	14.7%	4.2%	10.7%	4.1%	14.6%	2.7%	0.3%	-5.0M	-361.2M	-53.7M	1.18	1.96	374,192	441,031	3,216,783	6,885,124
2019-07-19	$42.85	$42.50	14.5%	4.1%	9.8%	2.9%	14.6%	2.8%	0.1%	-80.9M	593.1M	-53.9M	1.51	2.15	341,277	514,513	3,343,490	6,962,497
2019-07-22	$42.85	$42.50	15.2%	4.4%	9.8%	7.2%	15.5%	3.1%	0.1%	-107.3M	1.15B	-53.5M	1.41	1.74	61,374	86,819	2,786,489	6,082,666
2019-07-23	$42.92	$42.50	14.6%	4.2%	9.7%	3.7%	15.3%	3.1%	0.1%	-92.5M	1.06B	-52.7M	1.58	1.93	67,827	107,497	2,767,397	6,145,041
2019-07-24	$42.97	$42.50	14.6%	4.2%	8.9%	3.2%	15.4%	2.9%	0.0%	-55.7M	817.3M	-51.5M	0.86	1.93	93,709	80,695	2,779,520	6,131,252
2019-07-25	$42.60	$42.50	15.2%	4.4%	8.8%	7.4%	14.8%	3.1%	0.1%	-200.3M	1.97B	-52.6M	1.00	1.90	158,305	157,597	2,834,558	6,170,184
2019-07-26	$42.72	$42.50	15.0%	4.3%	8.5%	6.4%	14.5%	2.9%	0.0%	-185.9M	1.79B	-52.0M	1.41	1.81	75,001	105,888	2,844,536	6,223,419
2019-07-29	$42.61	$42.50	15.2%	4.5%	8.5%	7.4%	15.6%	3.2%	-0.0%	-164.2M	1.86B	-51.4M	1.23	1.84	115,680	141,707	2,854,444	6,203,752
2019-07-30	$42.25	$42.50	16.3%	4.9%	7.3%	14.5%	16.4%	3.3%	-0.1%	-272.0M	2.88B	-52.0M	1.20	1.92	166,202	199,165	2,916,745	6,257,009
2019-07-31	$41.86	$42.50	15.5%	4.4%	7.8%	9.1%	16.5%	3.4%	-0.0%	-449.9M	4.05B	-51.8M	1.42	2.03	116,457	165,574	2,928,729	6,280,130