EEM Options History — November 2022

In November 2022, EEM traded between $34.58 and $39.59. ATM implied volatility averaged 25.1%, placing in the 43.3% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded below realized volatility by 2.6% (HV 20d: 27.6%). Max pain ranged from $36.00 to $39.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.67.

Notable Days

2022-11-17: Highest Volume — 932,188 contracts
2022-11-25: Largest IV drop — 21.7% change
2022-11-04: Highest IV Rank — 56.5%
2022-11-04: Largest Expected Move — 8.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$37.25	$34.58	$39.59	$34.84	$39.59
Max Pain	$38.71	$36.00	$39.00	$36.00	$39.00
ATM IV	25.1%	21.4%	27.9%	24.9%	22.1%
Expected Move	7.6%	6.9%	8.5%	7.7%	7.3%
HV 20d	27.6%	25.1%	30.7%	25.1%	27.4%
HV 60d	24.7%	21.9%	26.4%	22.1%	26.4%
IV Rank	43.3%	26.2%	56.5%	42.5%	29.7%
IV Percentile	69.4%	37.3%	89.7%	70.6%	42.1%
Term Structure	-0.3%	-10.5%	2.6%	-0.2%	-0.2%
VWIV	25.9%	22.9%	27.9%	27.5%	25.1%
Skew 25d	4.0%	2.4%	8.3%	3.3%	3.0%
Skew 10d	6.2%	-0.9%	11.0%	5.8%	4.4%
Call IV 25d	22.9%	19.1%	27.0%	23.9%	20.1%
Put IV 25d	26.9%	23.1%	29.4%	27.2%	23.1%
Bid-Ask Spread %	25.23	5.81	66.18	23.36	66.18
Gamma HHI	0.10	0.08	0.17	0.13	0.11
Net GEX	64.7M	-110.4M	238.5M	-110.4M	238.5M
Net DEX	3.05B	-613.9M	6.76B	6.56B	-613.9M
Net VEX	-28.3M	-31.7M	-23.2M	-23.2M	-29.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.22	1.33	0.57	0.22
Total Volume	433,062	17,374	932,188	402,466	678,683
Total OI	7,650,045.429	6,951,768	8,360,789	6,951,768	8,092,410

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
2022-11-01	$34.84	$36.00	24.9%	7.7%	25.1%	42.5%	27.5%	3.3%	-0.2%	-110.4M	6.56B	-23.2M	0.57	23.36	256,825	145,641	3,296,819	3,654,949
2022-11-02	$34.58	$36.00	26.1%	7.9%	25.1%	48.0%	27.4%	3.9%	0.3%	-107.6M	6.76B	-23.3M	0.64	43.45	189,577	121,505	3,399,987	3,659,848
2022-11-03	$34.81	$39.00	24.9%	8.0%	25.2%	42.4%	25.7%	3.7%	-0.0%	-92.4M	6.63B	-23.4M	0.88	27.53	192,807	169,405	3,479,395	3,677,194
2022-11-04	$36.17	$39.00	27.9%	8.5%	27.9%	56.5%	27.9%	2.4%	-0.2%	-41.7M	4.40B	-29.1M	0.46	24.78	358,797	163,625	3,553,358	3,730,020
2022-11-07	$36.24	$39.00	26.2%	8.1%	27.5%	48.5%	27.3%	3.3%	2.0%	-8.4M	4.42B	-28.0M	0.57	29.81	313,047	179,459	3,660,778	3,695,105
2022-11-08	$36.56	$39.00	25.3%	7.8%	26.8%	44.4%	26.9%	3.5%	1.0%	8.6M	3.93B	-28.2M	0.34	8.67	374,604	125,496	3,673,308	3,697,812
2022-11-09	$35.85	$39.00	25.4%	8.1%	27.9%	44.7%	26.2%	3.5%	2.4%	-17.1M	5.00B	-26.7M	0.75	9.91	235,062	175,847	3,873,024	3,704,001
2022-11-10	$37.16	$39.00	24.8%	7.6%	30.4%	42.2%	27.3%	4.3%	1.9%	68.5M	2.83B	-29.3M	1.17	58.72	132,915	155,010	3,900,569	3,740,295
2022-11-11	$38.16	$39.00	23.7%	7.4%	30.7%	37.1%	25.0%	3.9%	2.6%	93.3M	942.9M	-30.2M	0.75	5.81	238,092	177,963	3,933,203	3,759,368
2022-11-14	$38.05	$39.00	25.2%	7.4%	29.8%	43.9%	25.0%	4.2%	-0.5%	114.0M	1.28B	-29.0M	0.31	15.63	390,555	120,917	3,894,311	3,732,565
2022-11-15	$38.83	$39.00	25.4%	7.4%	30.3%	44.7%	24.9%	3.9%	-1.3%	148.8M	-367.6M	-31.7M	0.42	15.91	309,439	129,354	4,075,793	3,775,151
2022-11-16	$38.17	$39.00	25.9%	7.4%	30.1%	47.5%	24.0%	4.4%	-0.9%	137.9M	955.7M	-30.6M	0.43	56.46	367,375	158,484	4,098,036	3,791,039
2022-11-17	$38.25	$39.00	26.8%	7.7%	30.1%	51.5%	26.8%	2.9%	-1.2%	162.6M	763.4M	-31.2M	0.68	9.07	555,503	376,685	4,185,943	3,819,157
2022-11-18	$38.07	$39.00	25.5%	7.3%	30.0%	45.3%	25.9%	3.3%	-0.7%	220.6M	1.87B	-30.4M	0.90	11.55	223,032	200,799	4,346,966	4,013,823
2022-11-21	$37.52	$39.00	26.2%	7.7%	26.3%	48.9%	27.2%	4.4%	-1.0%	58.9M	3.50B	-28.8M	0.91	10.16	172,361	156,922	3,933,686	3,521,138
2022-11-22	$37.62	$39.00	24.9%	7.5%	26.3%	42.7%	25.8%	3.3%	0.1%	71.5M	3.40B	-28.2M	1.33	13.06	255,567	340,034	4,007,619	3,580,789
2022-11-23	$37.93	$39.00	27.4%	6.9%	26.0%	54.1%	24.6%	8.3%	-10.5%	96.7M	2.96B	-29.6M	0.97	45.76	172,202	166,959	4,135,241	3,737,213
2022-11-25	$37.82	$39.00	21.4%	6.9%	25.8%	26.2%	22.9%	5.8%	0.8%	111.0M	3.11B	-28.4M	0.64	24.23	10,585	6,789	4,195,304	3,759,787
2022-11-28	$37.61	$39.00	23.7%	7.7%	25.6%	37.0%	25.5%	5.1%	-0.3%	67.3M	3.58B	-27.6M	0.55	12.29	127,977	69,826	4,175,069	3,743,567
2022-11-29	$38.39	$39.00	22.4%	7.2%	26.1%	31.0%	24.2%	2.9%	-0.4%	137.5M	2.09B	-28.5M	0.59	17.43	251,003	147,574	4,125,947	3,821,367
2022-11-30	$39.59	$39.00	22.1%	7.3%	27.4%	29.7%	25.1%	3.0%	-0.2%	238.5M	-613.9M	-29.9M	0.22	66.18	554,964	123,719	4,215,024	3,877,386