EWZ Options History — April 2008

In April 2008, EWZ traded between $718.92 and $812.88. ATM implied volatility averaged 36.4%, placing in the 21.8% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded below realized volatility by 0.6% (HV 20d: 37.1%). Max pain ranged from $720.00 to $765.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 1.15.

Notable Days

  • 2008-04-30: Highest Volume — 6,172 contracts
  • 2008-04-03: Largest IV drop — 15.0% change
  • 2008-04-02: Highest IV Rank — 28.5%
  • 2008-04-02: Largest Expected Move — 11.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$768.73$718.92$812.88$718.92$812.88
Max Pain$740.45$720.00$765.00$720.00$765.00
ATM IV36.4%31.6%39.8%38.8%35.0%
Expected Move10.6%9.1%11.4%11.1%10.0%
HV 20d37.1%23.0%52.9%52.9%35.9%
HV 60d42.0%39.8%45.0%45.0%43.2%
IV Rank21.8%12.4%28.5%26.6%19.0%
IV Percentile28.5%17.9%35.7%34.1%22.6%
Term Structure1.9%0.7%4.7%2.7%0.9%
VWIV38.9%35.1%42.9%42.2%35.3%
Skew 25d7.8%3.5%9.5%8.8%3.5%
Skew 10d15.1%4.7%18.9%17.1%4.7%
Call IV 25d34.3%30.3%36.9%34.8%33.7%
Put IV 25d42.0%37.2%45.9%43.7%37.2%
Bid-Ask Spread %11.265.6615.9313.666.52
Gamma HHI0.170.130.270.140.15
Net GEX12.8M-1.1M26.7M3.3M16.0M
Net DEX-535.5M-1.15B-79.3M-79.3M-690.2M
Net VEX-6.3M-6.5M-6.0M-6.0M-6.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.150.253.902.050.63
Total Volume2,888.4556566,1723,8626,172
Total OI58,124.18247,45368,07652,84557,840

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-04-01$718.92$720.0038.8%11.1%52.9%26.6%42.2%8.8%2.7%3.3M-79.3M-6.0M2.0513.66N/AN/A1,2652,59722,84430,001
2008-04-02$732.60$720.0039.8%11.4%52.9%28.5%40.1%9.5%3.0%6.5M-249.1M-6.3M1.9513.18N/AN/A1,4412,80823,87332,087
2008-04-03$744.48$720.0033.9%9.7%52.2%16.9%36.8%8.5%4.7%7.7M-345.5M-6.3M0.708.35N/AN/A1,5971,11824,27432,773
2008-04-04$753.30$720.0036.1%11.3%49.7%21.3%39.7%9.1%1.9%12.1M-452.6M-6.2M0.5210.05N/AN/A3,0161,55825,14032,817
2008-04-07$753.21$720.0035.8%11.3%49.2%20.5%40.7%8.9%1.6%18.6M-536.0M-6.2M0.8015.04N/AN/A1,4321,15227,32732,615
2008-04-08$761.40$720.0035.2%11.3%47.4%19.5%39.6%9.1%0.8%20.1M-619.6M-6.2M0.6511.11N/AN/A1,42992527,36533,184
2008-04-09$755.55$720.0034.7%11.2%44.0%18.5%41.3%9.1%1.2%17.3M-535.5M-6.3M2.7111.16N/AN/A4291,16227,63433,934
2008-04-10$756.72$720.0038.8%11.1%44.0%26.3%42.9%8.8%1.8%17.6M-543.2M-6.4M0.8310.79N/AN/A1,8031,50427,54534,623
2008-04-11$743.94$720.0038.5%11.0%44.3%25.8%41.2%8.9%1.5%15.0M-393.3M-6.5M0.7415.93N/AN/A37727928,54835,004
2008-04-14$748.26$720.0039.6%11.3%43.8%27.9%40.9%8.8%0.7%19.9M-513.2M-6.3M0.6115.77N/AN/A94857628,67234,626
2008-04-15$757.35$720.0038.9%11.2%41.1%26.6%42.2%9.3%1.2%25.8M-655.1M-6.2M1.0011.90N/AN/A1,7461,74829,05834,516
2008-04-16$782.37$720.0038.6%11.1%39.1%25.9%39.3%7.0%1.2%26.7M-1.03B-6.1M1.3911.38N/AN/A1,1081,54329,83835,647
2008-04-17$790.11$765.0036.2%10.4%24.6%21.4%36.4%6.5%2.1%23.5M-1.13B-6.0M0.5111.63N/AN/A2,3811,22430,21636,124
2008-04-18$789.93$765.0035.4%10.2%24.7%19.8%39.5%7.6%1.9%9.4M-1.15B-6.1M0.6915.81N/AN/A1,04371931,04037,036
2008-04-21$804.78$765.0036.0%10.3%25.0%21.0%37.2%7.0%1.6%10.9M-586.5M-6.0M0.257.94N/AN/A1,03126121,21626,348
2008-04-22$802.89$765.0036.8%10.6%23.0%22.6%40.8%7.4%1.3%10.6M-567.0M-6.0M3.909.52N/AN/A8763,41421,21726,236
2008-04-23$797.85$765.0034.6%9.9%23.4%18.2%35.3%7.3%2.0%7.5M-475.5M-6.4M1.0311.35N/AN/A1,6341,68521,61729,084
2008-04-24$777.51$765.0036.9%10.6%24.4%22.8%36.7%6.5%1.5%4.0M-335.6M-6.5M1.279.07N/AN/A54969922,45530,514
2008-04-25$788.40$765.0031.6%9.1%23.8%12.4%35.7%7.3%4.2%5.6M-386.6M-6.5M1.1111.52N/AN/A67675022,65430,776
2008-04-28$784.17$765.0035.5%10.2%24.1%20.0%37.4%6.1%1.8%5.6M-384.0M-6.4M1.115.66N/AN/A1,4191,58022,97031,308
2008-04-29$755.37$765.0035.1%10.1%26.0%19.2%35.1%5.5%1.6%-1.1M-128.4M-6.4M0.7610.40N/AN/A2,1941,67823,98032,156
2008-04-30$812.88$765.0035.0%10.0%35.9%19.0%35.3%3.5%0.9%16.0M-690.2M-6.4M0.636.52N/AN/A3,7802,39224,65933,181