EWZ Options History — November 2008

In November 2008, EWZ traded between $80.67 and $127.80. ATM implied volatility averaged 101.8%, placing in the 52.3% IV rank vs the trailing year. The 30-day expected move averaged 28.8%. IV traded below realized volatility by 80.5% (HV 20d: 182.3%). Max pain ranged from $120.00 to $165.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.90.

Notable Days

  • 2008-11-20: Highest Volume — 46,063 contracts
  • 2008-11-07: Largest IV drop — 21.7% change
  • 2008-11-20: Highest IV Rank — 69.8%
  • 2008-11-20: Largest Expected Move — 36.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$104.68$80.67$127.80$116.37$105.48
Max Pain$150.00$120.00$165.00$120.00$135.00
ATM IV101.8%82.5%126.4%94.1%95.5%
Expected Move28.8%23.7%36.2%27.0%27.4%
HV 20d182.3%120.7%436.0%432.6%120.7%
HV 60d262.6%258.8%266.8%258.8%266.7%
IV Rank52.3%38.6%69.8%46.9%47.9%
IV Percentile91.0%84.9%95.6%91.7%86.5%
Term Structure-5.7%-12.8%2.0%-5.5%-2.0%
VWIV101.7%85.4%125.8%102.2%85.4%
Skew 25d26.4%15.7%34.4%23.4%24.4%
Skew 10d51.4%33.0%59.3%51.2%50.0%
Call IV 25d88.8%76.7%111.8%86.4%81.9%
Put IV 25d115.2%102.1%139.6%109.8%106.3%
Bid-Ask Spread %12.438.7320.0714.349.35
Gamma HHI0.150.120.240.130.13
Net GEX-4.9M-10.7M-659.2K-4.5M-659.2K
Net DEX1.25B980.7M1.56B1.21B1.06B
Net VEX-5.1M-6.3M-3.2M-5.6M-5.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.900.202.151.650.32
Total Volume21,977.63211,27546,06319,76316,173
Total OI550,118.316500,159618,038500,159574,438

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-11-03$116.37$120.0094.1%27.0%432.6%46.9%102.2%23.4%-5.5%-4.5M1.21B-5.6M1.6514.34N/AN/A7,46512,298232,474267,685
2008-11-04$127.80$120.0082.5%23.7%435.4%38.6%98.0%25.4%-3.2%-3.3M980.7M-6.3M0.5016.13N/AN/A27,51913,888234,648271,133
2008-11-05$114.00$120.0098.5%28.2%436.0%50.0%104.3%25.4%-5.2%-3.8M1.16B-5.6M1.0518.24N/AN/A11,83012,424246,967268,358
2008-11-06$107.88$120.00116.8%33.5%165.8%63.1%113.2%34.4%-8.2%-4.9M1.25B-5.4M0.8416.11N/AN/A8,3947,084251,109272,974
2008-11-07$114.06$165.0091.5%25.9%166.4%45.0%87.9%27.8%-7.0%-4.0M1.18B-5.7M0.9111.64N/AN/A8,2417,536255,761274,864
2008-11-10$114.54$165.0094.9%25.7%144.1%47.4%93.1%27.0%-6.3%-3.8M1.19B-5.6M0.7510.44N/AN/A6,4324,843258,799276,548
2008-11-11$110.61$165.00106.5%28.2%144.4%55.7%89.9%27.6%-6.2%-4.1M1.23B-5.4M0.7912.59N/AN/A8,5716,734264,227278,632
2008-11-12$99.45$165.00107.0%28.3%127.2%56.0%100.2%27.4%-6.5%-6.5M1.39B-4.5M0.7610.70N/AN/A18,01513,750267,237278,572
2008-11-13$111.72$165.0097.0%27.8%132.7%48.9%104.2%26.7%-7.9%-4.1M1.14B-5.6M1.0212.76N/AN/A7,8728,046269,359276,937
2008-11-14$103.65$165.0097.2%27.9%135.1%49.1%107.5%30.2%-3.6%-5.2M1.31B-4.9M2.1511.07N/AN/A4,1868,982276,655281,445
2008-11-17$101.40$165.00104.3%29.9%131.3%54.1%107.0%28.6%-8.1%-5.6M1.33B-4.8M0.699.44N/AN/A12,0118,275277,681285,944
2008-11-18$99.63$165.00104.7%30.0%129.1%54.4%103.9%27.4%-7.2%-7.0M1.39B-4.6M1.559.35N/AN/A7,12811,022287,233292,017
2008-11-19$90.60$165.00117.2%33.6%123.6%63.3%112.6%25.3%-11.9%-8.7M1.51B-4.0M0.8510.96N/AN/A10,1218,564290,193293,513
2008-11-20$80.67$150.00126.4%36.2%129.7%69.8%125.8%27.8%-12.8%-7.8M1.56B-3.2M0.4511.33N/AN/A31,70014,363295,106295,025
2008-11-21$88.08$150.00106.9%30.6%130.2%56.0%115.8%29.1%-0.9%-10.7M1.50B-4.2M0.7611.67N/AN/A10,5008,000316,652301,386
2008-11-24$95.04$150.00104.1%29.9%132.4%54.0%97.5%15.7%-7.9%-4.5M1.22B-4.6M0.4620.07N/AN/A14,9226,814267,081265,514
2008-11-25$99.03$150.0098.2%28.2%122.2%49.8%94.4%24.1%2.0%-3.3M1.15B-5.0M1.388.73N/AN/A9,74413,442275,798269,687
2008-11-26$108.87$150.0090.6%26.0%125.3%44.4%89.6%24.7%-0.1%-1.1M986.5M-5.8M0.2011.21N/AN/A25,4715,215283,140277,456
2008-11-28$105.48$135.0095.5%27.4%120.7%47.9%85.4%24.4%-2.0%-659.2K1.06B-5.6M0.329.35N/AN/A12,2473,926296,266278,172