EWZ Options History — February 2007

In February 2007, EWZ traded between $405.09 and $443.79. ATM implied volatility averaged 26.6%. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 1.9% (HV 20d: 24.7%). Max pain ranged from $405.00 to $405.00. Net GEX was positive for 4 of 19 trading days. Term structure was in contango for 15 of 19 days. Put/call ratio averaged 11.12.

Notable Days

  • 2007-02-13: Highest Volume — 2,772 contracts
  • 2007-02-27: Largest IV spike — 55.6% change
  • 2007-02-27: Largest Expected Move — 11.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$433.17$405.09$443.79$431.91$412.38
Max Pain$405.00$405.00$405.00$405.00$405.00
ATM IV26.6%18.3%39.2%18.3%37.6%
Expected Move7.8%5.3%11.2%5.3%10.8%
HV 20d24.7%19.9%37.9%28.0%37.9%
Term Structure0.5%-3.0%2.7%2.7%-3.0%
VWIV30.0%22.7%39.3%32.0%36.3%
Skew 25d8.1%4.5%10.3%6.6%6.0%
Skew 10d14.8%1.6%21.0%17.1%10.2%
Call IV 25d24.4%20.4%38.5%22.9%34.4%
Put IV 25d32.5%29.0%43.0%29.5%40.4%
Bid-Ask Spread %66.0751.9086.1352.3862.33
Gamma HHI0.400.320.510.380.33
Net GEX-1.3M-4.4M924.0K-1.5M-1.2M
Net DEX-58.7M-112.6M55.1M-61.8M38.4M
Net VEX-825.9K-1.2M-509.0K-563.6K-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio11.120.05116.131.421.68
Total Volume1,136.421762,7721952,476
Total OI15,543.84211,41921,23311,41921,233

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-02-01$431.91$405.0018.3%5.3%28.0%0.0%32.0%6.6%2.7%-1.5M-61.8M-563.6K1.4252.38N/AN/A801154,1957,224
2007-02-02$432.36$405.0023.0%7.2%27.5%0.0%31.9%10.3%0.4%-1.7M-59.5M-572.5K8.6164.21N/AN/A141224,1887,301
2007-02-05$436.95$405.0023.8%7.1%23.6%0.0%27.8%10.2%0.8%-1.1M-76.7M-514.9K0.2474.75N/AN/A61154,1897,364
2007-02-06$438.03$405.0022.7%7.3%23.3%0.0%22.7%9.3%0.5%-1.0M-80.1M-509.0K52.5373.31N/AN/A371,9614,2187,344
2007-02-07$430.92$405.0021.4%7.5%21.9%0.0%31.5%5.7%0.6%-3.2M-33.0M-689.9K2.3251.90N/AN/A26604,2418,856
2007-02-08$432.63$405.0027.0%7.8%21.9%0.0%33.2%9.1%0.6%-3.0M-34.8M-678.9K5.0863.31N/AN/A1397084,2558,892
2007-02-09$426.06$405.0032.0%9.2%22.9%0.0%32.1%7.9%-2.5%-4.4M-13.1M-750.4K0.0567.36N/AN/A1,739824,3329,591
2007-02-12$420.48$405.0031.9%9.2%22.8%0.0%31.7%8.6%-1.7%-4.3M-27.6M-849.0K3.8866.21N/AN/A923565,7359,606
2007-02-13$433.62$405.0025.8%7.4%24.4%0.0%31.2%8.9%1.3%-1.6M-69.4M-817.5K116.1362.35N/AN/A242,7485,7339,824
2007-02-14$437.13$405.0025.1%7.2%24.5%0.0%25.4%4.7%1.1%-1.7M-86.2M-820.4K0.4768.45N/AN/A2971415,73710,417
2007-02-15$440.37$405.0025.5%7.3%24.2%0.0%25.7%9.8%1.9%-668.2K-86.9M-822.1K0.5365.94N/AN/A7634075,88210,548
2007-02-16$441.09$405.0025.4%7.3%23.1%0.0%27.3%9.1%1.9%-245.3K-90.2M-870.4K0.5667.54N/AN/A8574816,36210,899
2007-02-20$441.18$405.0026.2%7.5%23.1%0.0%32.5%9.8%1.4%526.9K-90.7M-914.7K0.6469.98N/AN/A2751756,4869,573
2007-02-21$441.99$405.0025.6%7.3%21.5%0.0%26.2%10.3%1.9%924.0K-106.7M-933.0K4.0164.90N/AN/A3531,4166,7059,992
2007-02-22$443.79$405.0025.4%7.3%21.4%0.0%27.1%8.4%2.0%598.9K-112.6M-966.0K10.4464.46N/AN/A1261,3156,86911,065
2007-02-23$441.18$405.0024.5%7.0%20.0%0.0%27.9%7.6%0.9%-606.6K-79.1M-1.0M0.8668.51N/AN/A3412936,93910,979
2007-02-26$443.16$405.0025.2%7.2%19.9%0.0%27.5%7.6%0.4%16.1K-99.8M-984.0K0.0561.34N/AN/A2,2411197,24510,945
2007-02-27$405.09$405.0039.2%11.2%37.6%0.0%39.3%4.5%-2.8%-637.6K55.1M-1.2M1.8486.13N/AN/A4007379,30511,064
2007-02-28$412.38$405.0037.6%10.8%37.9%0.0%36.3%6.0%-3.0%-1.2M38.4M-1.2M1.6862.33N/AN/A9241,5529,45311,780