EWZ Options History — February 2008

In February 2008, EWZ traded between $664.11 and $794.07. ATM implied volatility averaged 44.5%, placing in the 39.2% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded above realized volatility by 5.7% (HV 20d: 38.8%). Max pain ranged from $630.00 to $720.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 1.77.

Notable Days

  • 2008-02-26: Highest Volume — 5,721 contracts
  • 2008-02-29: Largest IV spike — 19.5% change
  • 2008-02-05: Highest IV Rank — 61.9%
  • 2008-02-05: Largest Expected Move — 15.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$725.10$664.11$794.07$701.55$751.77
Max Pain$677.25$630.00$720.00$630.00$720.00
ATM IV44.5%35.7%55.6%46.7%43.8%
Expected Move12.7%10.2%15.0%13.4%12.6%
HV 20d38.8%32.7%46.0%42.8%39.0%
HV 60d45.9%38.9%53.7%53.7%40.6%
IV Rank39.2%20.9%61.9%48.6%36.6%
IV Percentile62.7%34.9%95.6%76.2%59.5%
Term Structure-0.3%-4.6%2.2%-1.8%2.2%
VWIV47.6%39.5%57.2%54.7%44.9%
Skew 25d11.4%9.4%14.0%12.4%10.3%
Skew 10d22.1%18.7%27.9%26.7%19.4%
Call IV 25d40.1%33.0%47.3%44.6%40.1%
Put IV 25d51.5%43.6%59.1%57.0%50.5%
Bid-Ask Spread %12.138.4716.6513.6914.10
Gamma HHI0.210.130.390.210.13
Net GEX7.0M942.3K13.9M7.7M1.8M
Net DEX-353.4M-667.7M-79.4M-319.9M-334.7M
Net VEX-3.4M-4.9M-2.7M-2.9M-4.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.770.125.780.641.84
Total Volume2,942.956645,7212,0033,653
Total OI35,54426,97244,43830,20944,438

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-02-01$701.55$630.0046.7%13.4%42.8%48.6%54.7%12.4%-1.8%7.7M-319.9M-2.9M0.6413.69N/AN/A1,22577814,82715,382
2008-02-04$704.61$675.0049.0%13.0%41.2%49.9%49.2%10.6%-1.7%8.2M-340.5M-2.8M0.6212.61N/AN/A59236614,95715,856
2008-02-05$664.83$675.0055.6%15.0%46.0%61.9%57.2%11.8%-4.6%3.5M-105.5M-2.7M1.419.29N/AN/A45764314,88915,686
2008-02-06$664.11$675.0054.7%14.6%46.0%60.2%53.3%11.6%-3.2%3.2M-79.4M-2.7M5.788.68N/AN/A2881,66215,11116,066
2008-02-07$678.51$675.0050.5%14.0%44.1%52.7%51.1%13.2%-2.1%4.9M-150.6M-2.9M0.1210.61N/AN/A2,42530215,28717,884
2008-02-08$675.99$630.0050.1%14.0%43.7%49.0%48.6%14.0%-1.1%5.4M-168.6M-3.0M3.049.22N/AN/A6982,12415,93217,905
2008-02-11$699.84$630.0044.3%13.4%44.6%38.0%46.7%13.6%-0.4%9.1M-314.4M-3.2M1.329.39N/AN/A8911,17516,37319,763
2008-02-12$708.30$675.0043.6%13.3%44.7%36.6%47.6%13.5%-0.5%11.5M-368.1M-3.2M0.8315.00N/AN/A1,06288316,61820,433
2008-02-13$722.25$675.0041.6%13.1%41.7%32.8%51.8%12.5%-0.3%13.8M-487.2M-3.2M1.1813.36N/AN/A30436017,14120,982
2008-02-14$707.85$675.0044.9%12.9%38.7%39.1%50.3%10.3%0.2%13.9M-405.9M-3.2M1.3711.13N/AN/A8141,11117,13521,021
2008-02-15$708.30$675.0044.2%12.7%34.6%37.8%45.7%10.3%1.3%12.3M-387.3M-3.2M0.4110.24N/AN/A1,65267317,35121,833
2008-02-19$725.22$675.0045.6%13.1%35.0%40.4%49.0%10.7%0.1%4.0M-228.4M-3.2M4.4714.65N/AN/A9644,30711,72615,246
2008-02-20$749.34$675.0040.1%11.5%35.0%29.9%42.4%9.4%1.5%942.3K-279.5M-3.4M0.7215.94N/AN/A1,18585712,12718,794
2008-02-21$748.80$675.0042.5%12.2%34.8%34.6%44.7%9.9%-1.0%2.4M-295.2M-3.5M0.2411.20N/AN/A4,6061,09212,88519,090
2008-02-22$759.51$675.0042.5%12.2%33.3%34.5%47.3%10.9%-0.8%6.4M-444.7M-4.0M3.4513.58N/AN/A8632,97515,91619,705
2008-02-25$765.00$675.0039.8%11.4%32.7%29.3%40.5%10.4%0.6%5.3M-470.9M-4.0M0.8816.65N/AN/A1,1421,00516,29922,276
2008-02-26$778.68$720.0039.1%11.2%32.9%27.5%44.8%10.7%0.8%7.4M-554.2M-4.1M3.198.47N/AN/A1,3644,35717,08822,740
2008-02-27$794.07$720.0035.7%10.2%33.1%20.9%42.7%10.6%2.1%10.2M-667.7M-4.1M2.2012.62N/AN/A1,6653,66217,88322,335
2008-02-28$793.53$720.0036.7%10.5%32.9%22.8%39.5%10.7%2.1%7.5M-665.3M-4.6M1.7012.26N/AN/A1,7322,94518,77825,122
2008-02-29$751.77$720.0043.8%12.6%39.0%36.6%44.9%10.3%2.2%1.8M-334.7M-4.9M1.8414.10N/AN/A1,2882,36518,61325,825