EEM Options History — August 2023

In August 2023, EEM traded between $38.41 and $41.42. ATM implied volatility averaged 17.5%, placing in the 28.5% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 0.4% (HV 20d: 17.1%). Max pain ranged from $37.00 to $40.00. Net GEX was positive for 2 of 23 trading days. Term structure was in contango for 15 of 23 days. Put/call ratio averaged 3.30.

Notable Days

2023-08-16: Highest Volume — 612,458 contracts
2023-08-02: Largest IV spike — 8.9% change
2023-08-03: Highest IV Rank — 40.2%
2023-08-02: Largest Expected Move — 5.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.52	$38.41	$41.42	$41.42	$39.23
Max Pain	$38.52	$37.00	$40.00	$37.00	$38.00
ATM IV	17.5%	15.2%	19.6%	17.8%	15.5%
Expected Move	5.0%	4.2%	5.7%	5.3%	4.2%
HV 20d	17.1%	12.5%	21.3%	19.5%	12.7%
HV 60d	17.1%	16.3%	17.6%	16.9%	16.3%
IV Rank	28.5%	15.4%	40.2%	30.1%	16.8%
IV Percentile	35.3%	12.7%	57.1%	38.5%	13.1%
Term Structure	0.1%	-0.5%	0.7%	-0.4%	0.3%
VWIV	18.3%	14.3%	24.1%	19.2%	15.1%
Skew 25d	2.6%	2.0%	3.3%	2.2%	2.1%
Skew 10d	5.2%	3.2%	7.2%	4.2%	4.1%
Call IV 25d	16.6%	14.2%	18.6%	17.1%	14.2%
Put IV 25d	19.2%	16.3%	21.9%	19.2%	16.3%
Bid-Ask Spread %	13.69	2.34	51.17	20.35	28.12
Gamma HHI	0.09	0.08	0.11	0.10	0.10
Net GEX	-142.7M	-295.5M	148.0M	148.0M	-164.6M
Net DEX	318.0M	-2.85B	2.34B	-2.85B	572.1M
Net VEX	-36.8M	-38.8M	-34.0M	-34.0M	-37.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.30	0.53	12.80	1.25	3.38
Total Volume	296,244.478	139,483	612,458	280,110	315,643
Total OI	7,496,589.261	6,941,782	8,249,812	6,941,782	7,587,138

Daily Data (23 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
2023-08-01	$41.42	$37.00	17.8%	5.3%	19.5%	30.1%	19.2%	2.2%	-0.4%	148.0M	-2.85B	-34.0M	1.25	20.35	124,701	155,409	2,981,663	3,960,119
2023-08-02	$40.45	$37.00	19.4%	5.7%	21.3%	39.2%	21.4%	3.2%	-0.4%	-9.8M	-1.10B	-35.4M	2.39	6.97	137,120	328,321	3,092,589	4,034,575
2023-08-03	$40.59	$40.00	19.6%	5.3%	19.6%	40.2%	18.8%	3.3%	-0.5%	7.4M	-1.62B	-35.5M	0.53	10.56	271,948	143,051	3,188,733	4,121,381
2023-08-04	$40.53	$40.00	18.1%	5.0%	19.2%	31.6%	18.8%	2.6%	-0.1%	-33.0M	-1.31B	-36.5M	0.62	2.37	137,751	85,086	3,089,580	4,203,527
2023-08-07	$40.45	$40.00	17.4%	5.2%	19.2%	27.7%	18.7%	3.1%	0.6%	-30.5M	-1.17B	-35.6M	3.84	51.17	29,170	112,048	3,091,210	4,182,946
2023-08-08	$40.00	$40.00	18.2%	5.3%	19.4%	32.6%	19.6%	3.3%	0.3%	-100.2M	-405.4M	-35.4M	1.40	47.34	75,871	106,276	3,110,214	4,182,509
2023-08-09	$40.14	$39.00	18.1%	5.2%	17.7%	31.8%	22.2%	2.7%	0.0%	-70.2M	-692.4M	-35.7M	1.72	28.83	170,141	292,708	3,143,784	4,193,532
2023-08-10	$40.13	$39.00	17.5%	5.1%	16.8%	28.6%	17.8%	2.2%	0.3%	-86.8M	-1.00B	-35.5M	4.22	2.34	36,626	154,692	3,258,186	4,270,317
2023-08-11	$39.55	$39.00	17.8%	5.1%	17.3%	29.9%	18.0%	2.6%	-0.2%	-205.5M	175.5M	-35.7M	2.43	2.46	85,384	207,746	3,299,933	4,331,923
2023-08-14	$39.39	$39.00	18.1%	5.2%	17.3%	31.6%	24.1%	3.1%	-0.1%	-191.7M	538.2M	-36.1M	2.17	2.74	120,372	260,831	3,332,765	4,399,226
2023-08-15	$38.89	$39.00	18.5%	5.3%	17.7%	34.1%	18.8%	3.2%	0.0%	-257.7M	1.58B	-37.1M	4.16	2.70	57,874	240,841	3,370,846	4,510,344
2023-08-16	$38.59	$39.00	17.5%	5.0%	17.8%	28.7%	16.8%	2.6%	0.5%	-295.5M	2.25B	-36.9M	2.50	9.26	175,179	437,279	3,396,023	4,625,714
2023-08-17	$38.66	$38.00	17.4%	4.9%	17.7%	27.7%	17.6%	2.4%	0.7%	-282.9M	1.66B	-38.2M	3.44	6.25	60,271	207,634	3,510,719	4,658,498
2023-08-18	$38.45	$38.00	18.2%	5.2%	17.7%	32.6%	19.7%	3.0%	0.4%	-289.1M	2.13B	-38.3M	2.74	9.72	61,933	169,885	3,528,557	4,721,255
2023-08-21	$38.52	$38.00	17.7%	5.0%	16.8%	29.7%	18.2%	3.3%	-0.0%	-229.6M	2.31B	-37.6M	1.76	9.19	80,382	141,394	2,993,044	4,134,027
2023-08-22	$38.41	$38.00	17.2%	4.8%	16.2%	27.0%	17.4%	2.3%	-0.1%	-245.0M	2.34B	-37.3M	2.57	9.79	39,086	100,397	3,052,827	4,175,958
2023-08-23	$39.02	$38.00	17.3%	4.9%	17.3%	27.4%	16.9%	2.6%	0.1%	-183.0M	1.25B	-37.4M	3.03	22.08	108,446	328,798	3,074,234	4,175,042
2023-08-24	$38.89	$38.00	17.3%	4.9%	16.8%	27.0%	17.2%	2.3%	0.0%	-191.7M	1.30B	-38.1M	4.82	12.26	39,588	190,662	3,135,250	4,255,625
2023-08-25	$38.92	$38.00	17.0%	4.7%	13.5%	25.4%	19.3%	2.0%	0.2%	-206.6M	1.28B	-38.8M	8.43	3.45	21,630	182,281	3,170,813	4,334,343
2023-08-28	$39.28	$38.00	16.3%	4.5%	14.2%	21.6%	15.6%	2.3%	0.3%	-161.5M	619.3M	-37.7M	2.59	9.24	59,582	154,279	3,163,883	4,295,813
2023-08-29	$39.80	$38.00	15.8%	4.4%	14.8%	18.7%	15.6%	2.2%	0.1%	-97.3M	-373.5M	-37.9M	3.15	2.37	47,026	148,235	3,208,589	4,320,697
2023-08-30	$39.61	$38.00	15.2%	4.2%	12.5%	15.4%	14.3%	2.0%	0.1%	-105.9M	-180.1M	-37.1M	12.80	15.38	29,718	380,328	3,250,569	4,303,033
2023-08-31	$39.23	$38.00	15.5%	4.2%	12.7%	16.8%	15.1%	2.1%	0.3%	-164.6M	572.1M	-37.4M	3.38	28.12	72,143	243,500	3,265,074	4,322,064