EEM Options History — September 2020

In September 2020, EEM traded between $42.86 and $45.25. ATM implied volatility averaged 22.5%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 5.1% (HV 20d: 17.4%). Max pain ranged from $41.73 to $44.00. Net GEX was positive for 9 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 1.43.

Notable Days

  • 2020-09-09: Highest Volume — 257,380 contracts
  • 2020-09-03: Largest IV spike — 16.5% change
  • 2020-09-03: Highest IV Rank — 19.7%
  • 2020-09-03: Largest Expected Move — 8.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.13$42.86$45.25$45.25$44.07
Max Pain$43.78$41.73$44.00$41.73$44.00
ATM IV22.5%19.1%27.1%21.7%22.6%
Expected Move6.4%5.3%8.0%6.2%6.3%
HV 20d17.4%15.6%18.5%16.2%17.2%
HV 60d18.7%16.6%21.0%20.6%16.6%
IV Rank13.2%8.3%19.7%12.0%13.3%
IV Percentile56.0%40.5%71.0%56.7%56.3%
Term Structure0.7%-0.6%2.6%0.9%2.4%
VWIV23.3%19.5%28.4%22.2%23.9%
Skew 25d6.0%5.2%8.1%5.7%5.5%
Skew 10d12.1%9.6%17.5%13.7%10.5%
Call IV 25d20.2%17.2%24.7%18.8%20.3%
Put IV 25d26.1%22.4%32.8%24.5%25.8%
Bid-Ask Spread %2.672.055.672.702.43
Gamma HHI0.070.050.120.070.05
Net GEX-9.7M-178.1M170.2M106.2M-69.3M
Net DEX-1.03B-3.20B1.49B-3.18B-78.4M
Net VEX-36.7M-39.4M-35.0M-36.4M-36.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.430.513.141.050.85
Total Volume154,713.71469,559257,38069,559176,077
Total OI6,862,398.9525,587,3337,813,3707,141,8916,082,190

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-09-01$45.25$41.7321.7%6.2%16.2%12.0%22.2%5.7%0.9%106.2M-3.18B-36.4M1.052.7033,86335,6962,519,7084,622,183
2020-09-02$45.22$41.7323.2%6.6%15.6%14.2%24.8%5.9%-0.1%102.7M-3.10B-36.8M1.162.5350,25858,3072,542,1634,632,248
2020-09-03$44.35$44.0027.1%8.0%17.1%19.7%25.4%8.1%0.0%8.5M-1.66B-39.4M0.513.47144,16273,1402,560,0764,667,609
2020-09-04$44.44$44.0024.6%7.4%15.6%16.3%28.4%7.9%0.2%19.0M-1.87B-38.3M3.145.6761,585193,4332,619,8764,719,851
2020-09-08$43.68$44.0026.3%7.4%16.8%18.6%25.3%7.5%-0.6%-34.9M-666.9M-38.2M2.483.6551,969128,8142,579,2424,728,255
2020-09-09$44.19$44.0022.3%6.5%17.4%12.8%22.2%5.7%0.3%28.5M-1.64B-36.8M2.262.2278,898178,4822,603,5944,816,037
2020-09-10$43.64$44.0022.3%6.3%17.2%12.9%24.5%6.1%-0.5%-55.6M-583.9M-37.5M1.532.2654,91883,9652,648,2154,940,374
2020-09-11$43.90$44.0020.8%6.1%17.3%10.7%21.9%5.8%0.7%-74.9M-967.9M-37.0M1.832.1040,28173,6712,680,2564,985,382
2020-09-14$44.69$44.0020.2%5.8%18.5%9.9%22.1%5.8%1.0%96.8M-2.43B-35.4M0.612.0569,84242,5782,616,4834,994,508
2020-09-15$45.06$44.0020.1%5.8%18.1%9.7%19.5%5.2%0.5%161.2M-3.17B-35.0M0.672.1774,00149,5932,646,0355,022,163
2020-09-16$45.09$44.0020.7%5.9%18.1%10.6%20.1%5.5%0.1%170.2M-3.20B-35.0M1.102.6573,03580,2322,654,7395,035,346
2020-09-17$44.88$44.0019.9%5.7%17.8%9.4%21.1%5.5%0.9%124.4M-2.75B-35.8M0.892.47123,712110,2072,694,9875,066,507
2020-09-18$44.59$44.0019.1%5.3%17.9%8.3%20.8%5.2%1.7%-7.3M-2.26B-35.6M1.912.1559,255113,1742,685,6795,127,691
2020-09-21$44.06$44.0022.0%6.2%18.4%12.5%23.8%5.5%0.4%-39.1M31.1M-36.1M1.203.0952,97163,4281,954,6583,632,675
2020-09-22$43.83$44.0022.1%6.3%17.9%12.6%24.3%5.8%0.3%-60.9M272.1M-35.9M1.742.5874,729129,7041,989,3613,667,667
2020-09-23$43.16$44.0024.2%6.9%18.0%15.7%23.0%6.3%-0.2%-113.7M1.09B-37.5M1.302.4246,21060,0802,036,9093,751,885
2020-09-24$42.97$44.0023.9%6.8%17.9%15.2%24.9%5.9%0.3%-140.7M1.34B-37.2M0.912.7341,97038,0122,057,6643,790,035
2020-09-25$42.86$44.0023.2%6.5%17.9%14.2%23.4%5.4%0.3%-178.1M1.49B-37.2M3.042.2036,980112,5862,060,2053,810,859
2020-09-28$43.39$44.0022.7%6.4%18.1%13.5%23.3%5.7%2.6%-124.6M859.7M-36.4M0.632.33107,84968,1612,025,4053,855,755
2020-09-29$43.42$44.0023.2%6.5%17.0%14.1%23.9%5.6%2.6%-121.2M785.2M-36.7M1.232.1446,33956,8212,085,9883,899,915
2020-09-30$44.07$44.0022.6%6.3%17.2%13.3%23.9%5.5%2.4%-69.3M-78.4M-36.7M0.852.4395,29880,7792,152,0113,930,179