EWZ Options History — January 2008

In January 2008, EWZ traded between $623.34 and $733.68. ATM implied volatility averaged 48.3%, placing in the 51.3% IV rank vs the trailing year. The 30-day expected move averaged 14.0%. IV traded above realized volatility by 8.7% (HV 20d: 39.5%). Max pain ranged from $630.00 to $720.00. Net GEX was positive for 6 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 2.11.

Notable Days

  • 2008-01-17: Highest Volume — 4,965 contracts
  • 2008-01-25: Largest IV drop — 13.0% change
  • 2008-01-23: Highest IV Rank — 70.0%
  • 2008-01-23: Largest Expected Move — 17.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$680.94$623.34$733.68$728.55$688.41
Max Pain$672.86$630.00$720.00$720.00$630.00
ATM IV48.3%40.4%59.2%43.4%53.5%
Expected Move14.0%11.6%17.0%12.4%15.4%
HV 20d39.5%35.8%42.1%41.8%42.1%
HV 60d53.7%53.1%54.5%53.1%53.7%
IV Rank51.3%37.8%70.0%42.9%60.3%
IV Percentile80.8%57.5%99.2%68.9%93.3%
Term Structure-1.5%-5.4%3.2%1.2%-4.2%
VWIV50.0%42.1%62.1%42.1%54.6%
Skew 25d9.3%4.6%15.2%7.7%10.8%
Skew 10d18.9%10.9%28.4%14.9%23.4%
Call IV 25d44.9%38.5%53.4%39.6%48.5%
Put IV 25d54.2%43.1%66.3%47.3%59.4%
Bid-Ask Spread %14.277.3719.9211.9312.15
Gamma HHI0.260.200.340.270.20
Net GEX-2.4M-8.2M5.3M200.3K5.3M
Net DEX38.8M-224.6M244.0M-9.0M-224.6M
Net VEX-1.2M-2.9M-156.7K-156.7K-2.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.110.228.711.990.98
Total Volume2,5557064,9659161,305
Total OI14,418.811,46029,8341,46029,834

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-01-02$728.55$720.0043.4%12.4%41.8%42.9%42.1%7.7%1.2%200.3K-9.0M-156.7K1.9911.93N/AN/A306610796664
2008-01-03$725.49$720.0040.4%11.6%41.5%37.8%43.1%4.6%3.2%112.6K-2.8M-224.9K7.9014.29N/AN/A997861,0091,209
2008-01-04$702.00$720.0040.4%12.6%39.9%37.9%43.2%6.6%2.0%-539.8K19.8M-263.2K0.8716.74N/AN/A5945151,0731,941
2008-01-07$695.34$720.0045.0%13.3%38.5%45.7%44.6%6.3%1.0%-142.4K19.1M-354.0K2.4116.65N/AN/A2074991,5902,262
2008-01-08$695.25$720.0045.9%13.8%38.5%47.3%49.9%8.9%1.1%-835.1K20.1M-381.5K8.7119.92N/AN/A2802,4411,6742,666
2008-01-09$724.23$720.0041.4%12.8%41.8%39.5%53.2%9.8%0.2%-3.7M51.2M-611.7K4.5318.23N/AN/A6653,0081,8764,803
2008-01-10$733.68$675.0044.5%12.8%40.0%44.9%44.2%8.8%0.4%-4.7M41.9M-838.5K0.8819.31N/AN/A4844272,4437,558
2008-01-11$712.17$675.0046.1%13.2%38.8%47.6%47.3%7.6%0.5%-5.1M77.3M-873.0K0.7417.00N/AN/A1,0267562,7057,776
2008-01-14$718.65$675.0044.9%12.9%37.6%45.6%45.4%7.4%0.1%-4.2M49.2M-966.7K0.2215.48N/AN/A1,2902803,3378,116
2008-01-15$685.62$675.0047.5%13.6%39.8%50.0%50.5%6.9%-3.5%-3.7M108.2M-1.0M1.4411.83N/AN/A1,6432,3714,6078,357
2008-01-16$655.02$675.0049.0%14.0%37.8%52.5%49.7%6.5%-3.6%-7.6M208.4M-1.1M0.7818.48N/AN/A1,8981,4725,64910,045
2008-01-17$627.75$675.0051.3%14.7%38.0%56.5%52.0%9.8%-3.1%-6.9M244.0M-1.2M1.2214.83N/AN/A2,2352,7306,70910,647
2008-01-18$637.56$675.0050.9%14.6%38.6%55.8%49.9%8.9%-2.6%-8.2M200.1M-1.4M1.5614.45N/AN/A1,8812,9358,64012,310
2008-01-22$626.31$675.0052.8%15.1%38.4%59.0%55.3%13.9%-5.0%-4.2M145.6M-1.6M3.107.37N/AN/A6261,9387,75411,146
2008-01-23$623.34$630.0059.2%17.0%35.8%70.0%62.1%12.9%-5.4%-3.0M114.6M-1.6M2.0411.26N/AN/A8601,7547,92610,952
2008-01-24$646.65$630.0054.6%15.6%38.8%62.1%52.8%13.2%-3.6%-2.4M43.1M-1.8M0.679.05N/AN/A1,0016698,30711,749
2008-01-25$663.30$630.0047.4%13.6%40.3%49.9%49.5%6.1%-0.7%-4.1M3.3M-1.8M0.4913.42N/AN/A2,2191,0948,95111,985
2008-01-28$664.92$630.0050.1%14.4%40.4%54.5%57.2%15.2%-2.1%4.6K-62.5M-2.2M2.3612.85N/AN/A9132,15410,58612,731
2008-01-29$674.10$630.0050.7%14.5%41.0%55.6%49.6%13.1%-2.3%1.3M-99.5M-2.3M1.169.82N/AN/A1,8782,16911,16112,859
2008-01-30$671.40$630.0054.3%15.6%40.9%61.6%53.2%10.5%-5.2%2.6M-132.4M-2.5M0.2714.49N/AN/A2,86777012,56013,832
2008-01-31$688.41$630.0053.5%15.4%42.1%60.3%54.6%10.8%-4.2%5.3M-224.6M-2.9M0.9812.15N/AN/A65864714,50815,326