EWZ Options History — November 2007

In November 2007, EWZ traded between $652.50 and $775.35. ATM implied volatility averaged 53.6%, placing in the 68.3% IV rank vs the trailing year. The 30-day expected move averaged 15.1%. IV traded below realized volatility by 5.6% (HV 20d: 59.2%). Max pain ranged from $585.00 to $720.00. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.40.

Notable Days

  • 2007-11-08: Highest Volume — 12,360 contracts
  • 2007-11-12: Largest IV spike — 48.8% change
  • 2007-11-12: Highest IV Rank — 100.0%
  • 2007-11-26: Largest Expected Move — 18.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$726.36$652.50$775.35$748.62$728.55
Max Pain$636.43$585.00$720.00$720.00$675.00
ATM IV53.6%41.2%76.7%46.2%51.8%
Expected Move15.1%13.0%18.3%13.2%14.8%
HV 20d59.2%39.0%75.0%41.9%73.8%
HV 60d49.6%44.2%54.2%47.2%54.1%
IV Rank68.3%43.6%100.0%69.2%57.3%
IV Percentile93.4%70.4%100.0%89.0%90.9%
Term Structure-0.9%-4.1%1.8%-0.3%0.4%
VWIV53.7%43.5%61.7%52.0%51.2%
Skew 25d9.3%5.5%13.6%10.6%7.3%
Skew 10d16.2%5.4%22.6%16.8%16.2%
Call IV 25d48.9%42.4%59.9%44.6%49.5%
Put IV 25d58.2%50.9%65.4%55.2%56.8%
Bid-Ask Spread %22.8513.0031.6227.6319.32
Gamma HHI0.240.170.450.280.21
Net GEX-4.1M-27.3M29.6M10.2M-11.6M
Net DEX-580.9M-1.27B141.4M-945.5M-616.3M
Net VEX-5.4M-5.6M-5.1M-5.3M-5.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.400.394.202.530.66
Total Volume3,095.71491312,3601,992913
Total OI79,045.28668,86390,01275,45276,364

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-11-01$748.62$720.0046.2%13.2%41.9%69.2%52.0%10.6%-0.3%10.2M-945.5M-5.3M2.5327.63N/AN/A5651,42732,28543,167
2007-11-02$748.80$720.0047.6%13.6%39.0%72.5%43.5%8.4%0.6%9.5M-917.2M-5.4M0.6928.48N/AN/A3,4182,37132,38644,330
2007-11-05$733.05$585.0056.2%15.0%39.9%94.0%54.3%7.8%-3.0%6.2M-764.4M-5.6M1.8717.26N/AN/A40976635,48946,143
2007-11-06$765.00$585.0041.2%13.0%41.8%56.8%48.2%8.3%1.8%21.3M-1.07B-5.2M1.5916.61N/AN/A9621,53235,66946,365
2007-11-07$736.83$585.0053.0%14.0%44.2%86.0%51.8%7.3%0.1%6.9M-791.8M-5.5M1.8921.09N/AN/A51998336,24646,814
2007-11-08$775.35$585.0046.0%13.4%46.8%68.7%49.7%8.9%0.3%29.6M-1.27B-5.4M0.7623.81N/AN/A7,0135,34736,31947,263
2007-11-09$749.34$585.0051.6%14.6%48.1%82.5%54.0%8.3%0.7%-3.8M-825.2M-5.5M1.2226.32N/AN/A78395633,19751,448
2007-11-12$684.45$585.0076.7%16.6%58.2%100.0%58.6%7.4%-3.6%-27.3M60.1M-5.6M1.5728.93N/AN/A1,9042,99833,35251,721
2007-11-13$743.13$630.0053.0%14.8%64.5%59.4%54.8%13.6%-2.1%-10.0M-681.8M-5.4M2.0319.00N/AN/A1,2862,61434,26652,580
2007-11-14$754.65$630.0043.7%14.1%64.1%43.6%50.9%11.4%-1.8%-2.0M-838.8M-5.3M0.8723.83N/AN/A2,7752,41134,91253,880
2007-11-15$732.15$630.0052.2%15.0%65.0%58.1%52.9%11.7%1.4%-22.3M-480.4M-5.5M4.2027.63N/AN/A6162,58534,64054,696
2007-11-16$757.35$630.0050.2%14.4%62.6%54.7%55.2%11.5%-1.4%25.3M-827.4M-5.2M1.1015.65N/AN/A1,0551,16134,65755,355
2007-11-19$721.80$630.0058.2%16.7%65.4%68.3%59.2%9.8%-3.7%-14.4M-418.4M-5.3M3.3813.00N/AN/A4161,40623,94244,921
2007-11-20$732.42$630.0053.9%15.5%64.2%61.0%53.7%10.4%-1.4%-14.6M-498.4M-5.3M0.4219.30N/AN/A1,31354924,01945,650
2007-11-21$689.85$630.0058.7%16.8%67.8%69.2%56.0%6.9%-4.1%-16.1M-176.8M-5.5M0.7216.57N/AN/A1,13181124,73345,719
2007-11-23$696.96$630.0058.7%16.8%67.6%69.2%56.2%13.1%0.1%-15.1M-254.6M-5.4M0.8522.11N/AN/A93779625,13445,882
2007-11-26$652.50$675.0063.7%18.3%69.9%77.7%61.7%5.5%-1.7%-16.7M141.4M-5.3M1.1729.64N/AN/A1,3331,55725,79046,294
2007-11-27$668.70$675.0056.9%16.3%70.0%66.1%56.8%10.0%-0.1%-16.4M-27.1M-5.3M0.8831.62N/AN/A1,08395626,58247,058
2007-11-28$717.30$675.0054.2%15.5%75.0%61.5%55.0%9.5%-1.5%-12.4M-503.1M-5.1M0.6124.18N/AN/A1,9071,15927,14147,336
2007-11-29$716.85$675.0052.7%15.1%74.1%58.8%51.4%7.0%0.8%-12.3M-492.8M-5.3M0.3927.78N/AN/A1,64364428,20148,005
2007-11-30$728.55$675.0051.8%14.8%73.8%57.3%51.2%7.3%0.4%-11.6M-616.3M-5.2M0.6619.32N/AN/A55136228,16648,198