EEM Options History — December 2021

In December 2021, EEM traded between $47.39 and $50.27. ATM implied volatility averaged 19.2%, placing in the 43.6% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 1.6% (HV 20d: 17.6%). Max pain ranged from $50.00 to $54.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 1.61.

Notable Days

2021-12-10: Highest Volume — 520,271 contracts
2021-12-13: Largest IV spike — 25.7% change
2021-12-03: Highest IV Rank — 93.0%
2021-12-03: Largest Expected Move — 8.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$48.93	$47.39	$50.27	$49.19	$49.03
Max Pain	$51.23	$50.00	$54.00	$54.00	$51.00
ATM IV	19.2%	15.8%	25.2%	23.1%	16.6%
Expected Move	5.7%	4.6%	8.4%	7.7%	4.6%
HV 20d	17.6%	14.7%	20.4%	14.7%	17.4%
HV 60d	15.9%	15.4%	17.0%	15.5%	15.5%
IV Rank	43.6%	15.4%	93.0%	75.5%	21.3%
IV Percentile	54.9%	10.7%	98.0%	93.7%	26.2%
Term Structure	0.2%	-0.5%	0.6%	-0.5%	0.5%
VWIV	21.1%	15.9%	29.6%	28.1%	15.9%
Skew 25d	5.0%	1.1%	7.0%	6.0%	4.4%
Skew 10d	10.1%	2.3%	15.5%	9.7%	9.9%
Call IV 25d	17.7%	14.9%	23.4%	20.8%	14.9%
Put IV 25d	22.6%	17.2%	30.2%	26.9%	19.3%
Bid-Ask Spread %	18.47	3.11	54.93	35.29	3.11
Gamma HHI	0.10	0.06	0.21	0.08	0.07
Net GEX	-256.3M	-364.4M	-126.5M	-316.5M	-148.8M
Net DEX	4.90B	3.45B	6.85B	5.55B	3.69B
Net VEX	-35.5M	-37.7M	-32.3M	-36.7M	-37.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.61	0.63	2.47	2.12	1.62
Total Volume	322,324.182	224,341	520,271	280,231	295,335
Total OI	6,508,447.091	5,066,254	7,590,729	7,033,611	5,611,016

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
2021-12-01	$49.19	$54.00	23.1%	7.7%	14.7%	75.5%	28.1%	6.0%	-0.5%	-316.5M	5.55B	-36.7M	2.12	35.29	89,731	190,500	2,739,550	4,294,061
2021-12-02	$49.69	$54.00	22.4%	7.6%	15.0%	69.9%	25.5%	5.1%	-0.1%	-280.0M	4.84B	-37.2M	1.93	46.71	76,585	147,756	2,768,565	4,315,125
2021-12-03	$48.82	$54.00	25.2%	8.4%	16.1%	93.0%	29.6%	6.8%	-0.2%	-300.4M	6.10B	-37.6M	2.07	54.93	106,475	219,913	2,796,699	4,366,007
2021-12-06	$49.26	$50.50	21.2%	6.1%	16.5%	59.6%	21.0%	5.0%	0.2%	-321.4M	5.50B	-35.6M	1.00	38.22	162,983	162,910	2,808,198	4,371,693
2021-12-07	$50.00	$50.50	18.7%	5.5%	17.2%	39.0%	19.7%	3.5%	0.5%	-318.1M	4.29B	-34.6M	1.39	14.70	129,361	179,671	2,846,836	4,380,243
2021-12-08	$50.27	$50.00	17.1%	5.1%	17.3%	25.9%	18.1%	2.9%	0.5%	-286.1M	4.01B	-34.0M	1.48	16.75	132,247	195,749	2,911,417	4,447,875
2021-12-09	$50.05	$50.00	17.5%	5.2%	17.3%	28.8%	18.4%	2.6%	0.6%	-346.3M	4.33B	-33.4M	1.37	51.01	111,248	152,358	2,951,743	4,465,460
2021-12-10	$50.03	$50.00	15.8%	4.8%	16.0%	15.4%	16.6%	1.1%	0.4%	-364.4M	4.38B	-32.3M	0.67	49.90	311,659	208,612	2,966,963	4,472,989
2021-12-13	$48.66	$51.00	19.9%	5.6%	18.3%	49.0%	24.9%	5.7%	-0.4%	-352.5M	6.72B	-35.2M	0.99	3.13	210,182	208,739	2,883,899	4,449,856
2021-12-14	$48.45	$51.00	20.1%	5.7%	18.3%	50.5%	23.4%	5.9%	-0.3%	-348.0M	6.69B	-34.8M	0.63	3.87	249,593	157,364	2,898,000	4,389,597
2021-12-15	$48.28	$51.00	19.8%	5.6%	18.3%	47.8%	22.2%	5.3%	-0.1%	-337.4M	6.85B	-35.5M	0.86	27.47	167,393	143,239	3,002,874	4,467,190
2021-12-16	$48.43	$51.00	20.4%	5.8%	18.4%	53.1%	24.3%	7.0%	-0.0%	-317.1M	6.60B	-35.7M	2.21	3.84	117,254	258,744	3,045,560	4,457,437
2021-12-17	$48.20	$51.00	20.9%	6.0%	18.1%	57.2%	22.5%	6.1%	-0.0%	-302.6M	6.66B	-35.7M	1.67	3.22	129,076	215,445	3,077,000	4,513,729
2021-12-20	$47.39	$51.00	22.3%	6.4%	18.7%	69.2%	24.1%	7.0%	-0.0%	-190.6M	4.81B	-34.3M	1.53	3.30	112,204	172,064	2,107,567	2,958,687
2021-12-21	$48.14	$51.00	20.2%	5.8%	19.9%	51.2%	21.1%	5.4%	0.1%	-179.2M	4.17B	-36.0M	1.77	3.40	100,009	177,515	2,162,823	3,070,315
2021-12-22	$48.45	$51.00	18.1%	5.2%	20.2%	33.8%	19.8%	5.5%	0.6%	-182.3M	4.09B	-36.0M	1.83	3.14	94,556	172,647	2,177,147	3,094,316
2021-12-23	$48.77	$51.00	16.8%	4.8%	20.4%	23.4%	16.5%	4.3%	0.3%	-138.3M	3.73B	-36.3M	2.13	3.17	87,515	186,432	2,201,442	3,115,361
2021-12-27	$48.91	$51.00	16.9%	4.7%	17.3%	23.9%	17.2%	4.6%	0.5%	-133.0M	3.55B	-35.3M	2.47	9.69	78,334	193,253	2,206,403	3,110,324
2021-12-28	$48.85	$51.00	16.8%	4.8%	17.3%	23.4%	16.9%	5.3%	0.6%	-150.6M	3.71B	-35.7M	1.61	19.29	88,391	142,636	2,252,263	3,138,276
2021-12-29	$48.56	$51.00	17.0%	4.7%	17.4%	24.6%	18.7%	4.9%	0.1%	-197.1M	4.12B	-35.5M	2.21	4.80	95,518	211,332	2,256,756	3,156,935
2021-12-30	$49.10	$51.00	16.7%	4.7%	17.8%	22.9%	19.3%	4.9%	0.6%	-126.5M	3.45B	-36.8M	1.86	7.32	157,035	291,569	2,243,629	3,234,010
2021-12-31	$49.03	$51.00	16.6%	4.6%	17.4%	21.3%	15.9%	4.4%	0.5%	-148.8M	3.69B	-37.7M	1.62	3.11	112,752	182,583	2,282,528	3,328,488