EEM Options History — November 2023

In November 2023, EEM traded between $37.02 and $39.91. ATM implied volatility averaged 16.7%, placing in the 29.4% IV rank vs the trailing year. The 30-day expected move averaged 4.6%. IV traded below realized volatility by 0.7% (HV 20d: 17.4%). Max pain ranged from $33.00 to $39.00. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.31.

Notable Days

  • 2023-11-15: Highest Volume — 752,751 contracts
  • 2023-11-24: Largest IV drop — 8.2% change
  • 2023-11-22: Highest IV Rank — 48.0%
  • 2023-11-01: Largest Expected Move — 4.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.97$37.02$39.91$37.02$39.53
Max Pain$38.60$33.00$39.00$33.00$39.00
ATM IV16.7%14.8%19.7%16.4%17.3%
Expected Move4.6%4.3%4.8%4.8%4.5%
HV 20d17.4%15.9%19.2%15.9%16.6%
HV 60d15.0%13.6%15.7%13.6%15.2%
IV Rank29.4%15.5%48.0%25.4%44.1%
IV Percentile37.6%9.9%82.5%31.0%49.6%
Term Structure0.1%-2.0%2.4%0.1%-0.9%
VWIV15.9%15.0%16.6%16.6%15.7%
Skew 25d2.2%0.9%3.2%3.0%3.0%
Skew 10d3.8%2.1%5.9%5.9%3.9%
Call IV 25d15.4%14.0%17.3%15.1%15.1%
Put IV 25d17.6%16.0%20.3%18.1%18.0%
Bid-Ask Spread %29.183.6962.5338.433.69
Gamma HHI0.080.070.110.110.11
Net GEX-26.4M-259.7M92.8M-259.7M31.6M
Net DEX-418.0M-2.55B2.77B2.77B-441.3M
Net VEX-35.5M-37.1M-33.8M-35.7M-34.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.310.363.121.841.16
Total Volume208,402.28649,796752,751250,247317,776
Total OI7,388,766.2867,065,9018,009,5287,082,5397,472,879

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-11-01$37.02$33.0016.4%4.8%15.9%25.4%16.6%3.0%0.1%-259.7M2.77B-35.7M1.8438.4388,062162,1852,891,4234,191,116
2023-11-02$37.70$39.0015.9%4.8%17.2%21.7%15.9%2.6%0.4%-192.5M1.53B-36.5M1.9410.2847,68792,3752,964,9734,188,545
2023-11-03$38.48$39.0015.4%4.7%17.8%18.9%16.6%2.2%0.4%-115.7M64.4M-37.1M0.4959.61174,74485,2142,996,0304,205,264
2023-11-06$38.80$39.0016.1%4.8%17.8%22.9%16.5%2.2%0.6%-69.9M-494.3M-36.7M0.5653.56101,44356,3833,047,7894,218,020
2023-11-07$38.70$39.0016.0%4.7%17.0%22.5%15.8%2.3%0.2%-74.9M-332.4M-36.1M0.9337.7663,03958,3223,071,1534,215,375
2023-11-08$38.44$39.0015.6%4.5%17.1%20.3%15.8%2.1%0.3%-105.0M153.4M-35.9M3.1211.2421,29966,5183,123,1754,246,168
2023-11-09$38.05$39.0015.5%4.6%17.1%19.8%15.7%1.9%0.4%-157.9M899.5M-35.2M0.676.6963,50042,3873,098,0754,283,053
2023-11-10$38.33$39.0014.8%4.3%17.2%15.5%15.3%2.0%0.5%-130.1M446.1M-35.5M2.4728.5919,22647,5703,115,3384,288,867
2023-11-13$38.39$39.0015.5%4.4%17.0%19.7%15.9%1.6%1.7%-121.2M283.1M-34.6M1.3860.2956,16777,6173,121,1094,300,127
2023-11-14$39.41$39.0016.0%4.6%19.2%23.6%16.2%1.6%1.6%14.6M-1.80B-35.2M0.3662.53260,76192,7203,169,9514,334,748
2023-11-15$39.72$39.0016.3%4.7%18.1%25.1%16.2%0.9%1.7%69.3M-2.55B-35.7M0.5449.68490,240262,5113,300,1124,363,589
2023-11-16$39.30$38.5015.8%4.4%18.5%21.9%15.0%1.4%2.4%57.8M-1.82B-36.3M0.8325.9446,24138,1833,551,6834,424,712
2023-11-17$39.33$38.5016.6%4.5%17.7%27.2%15.7%0.9%2.1%26.4M-1.98B-35.8M1.414.0550,61471,4743,580,4914,429,037
2023-11-20$39.91$38.5017.9%4.5%18.1%36.2%16.0%2.1%-1.5%92.8M-1.40B-35.3M0.3821.77193,16572,7473,074,6693,991,232
2023-11-21$39.58$38.5019.4%4.6%18.2%46.0%16.2%3.0%-1.7%71.6M-837.3M-35.9M1.0215.8570,94372,3763,201,1784,025,294
2023-11-22$39.47$38.5019.7%4.5%17.3%48.0%16.0%2.3%-2.0%58.1M-577.6M-35.7M1.6814.0360,523101,5613,238,3734,038,331
2023-11-24$39.52$39.0018.1%4.4%16.9%37.1%16.0%2.7%-1.7%90.3M-719.2M-36.0M2.8162.4213,08336,7133,253,2094,040,836
2023-11-27$39.41$39.0017.3%4.3%17.0%32.1%15.3%2.4%-1.2%41.3M-471.0M-34.1M0.6416.58188,488121,2443,241,4354,081,966
2023-11-28$39.73$39.0017.5%4.4%16.8%44.6%15.6%3.2%-0.8%82.7M-964.2M-34.4M1.9616.3248,11094,2533,223,6434,143,273
2023-11-29$39.47$39.0017.5%4.5%16.8%44.0%16.1%2.5%-0.7%35.1M-518.0M-33.8M1.4113.44145,018203,9663,244,4374,173,414
2023-11-30$39.53$39.0017.3%4.5%16.6%44.1%15.7%3.0%-0.9%31.6M-441.3M-34.2M1.163.69147,402170,3743,210,5534,262,326