EWZ Options History — December 2010

In December 2010, EWZ traded between $73.84 and $78.15. ATM implied volatility averaged 25.2%, placing in the 11.2% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 1.9% (HV 20d: 23.3%). Max pain ranged from $75.00 to $80.00. Net GEX was positive for 17 of 22 trading days. Term structure was in contango for 21 of 22 days. Put/call ratio averaged 1.25.

Notable Days

  • 2010-12-20: Highest Volume — 4,646,780 contracts
  • 2010-12-21: Largest IV spike — 15.5% change
  • 2010-12-01: Highest IV Rank — 26.3%
  • 2010-12-01: Largest Expected Move — 8.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$75.89$73.84$78.15$76.56$77.40
Max Pain$76.95$75.00$80.00$75.00$79.00
ATM IV25.2%21.3%30.2%30.2%24.5%
Expected Move7.1%6.1%8.6%8.6%7.0%
HV 20d23.3%18.1%27.5%27.1%18.6%
HV 60d22.6%22.0%23.1%22.4%22.8%
IV Rank11.2%0.0%26.3%26.3%9.8%
IV Percentile12.4%0.0%47.6%47.6%7.9%
Term Structure2.0%-0.5%3.0%-0.5%3.0%
VWIV25.1%13.8%31.0%31.0%25.6%
Skew 25d4.9%0.7%7.6%7.6%5.7%
Skew 10d8.6%1.0%15.4%15.4%11.2%
Call IV 25d23.0%20.2%27.2%27.2%21.9%
Put IV 25d27.9%23.3%34.7%34.7%27.6%
Bid-Ask Spread %5.242.728.904.922.73
Gamma HHI0.080.070.140.070.07
Net GEX39.8M-27.6M97.9M49.6M35.1M
Net DEX473.1M-1.77B2.44B-787.8M720.1M
Net VEX-14.9M-18.0M-12.0M-18.0M-15.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.250.023.550.941.52
Total Volume288,593.40913,0974,646,78081,24635,290
Total OI2,366,066.2731,921,8362,843,1492,437,6982,006,455

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-12-01$76.56$75.0030.2%8.6%27.1%26.3%31.0%7.6%-0.5%49.6M-787.8M-18.0M0.944.92N/AN/A41,92939,3171,134,8821,302,816
2010-12-02$77.43$75.0028.4%8.1%27.5%20.7%28.8%6.3%0.4%71.4M-1.32B-17.5M1.532.93N/AN/A31,26647,8101,159,4531,320,223
2010-12-03$78.15$75.0025.9%7.4%25.7%12.9%25.3%6.5%1.0%86.1M-1.77B-16.8M0.824.68N/AN/A37,51330,7081,167,0431,340,596
2010-12-06$77.69$75.0026.9%7.6%25.7%16.0%28.6%7.2%2.0%84.2M-1.44B-16.3M0.397.69N/AN/A69,49126,9931,177,5151,346,191
2010-12-07$76.90$75.0028.4%7.7%25.9%20.9%26.5%6.1%1.9%87.5M-993.3M-16.3M0.977.64N/AN/A29,77628,8801,224,3261,347,359
2010-12-08$75.90$75.0028.7%7.7%25.3%21.8%27.5%6.4%1.9%59.9M-161.0M-15.5M0.808.23N/AN/A49,71739,8971,223,9781,355,346
2010-12-09$74.96$75.0028.7%7.6%25.5%21.9%28.1%6.1%2.2%40.2M568.2M-15.2M2.438.90N/AN/A27,54966,9361,241,5691,366,158
2010-12-10$75.63$75.0024.5%7.1%25.6%8.4%25.7%4.7%2.3%43.4M151.5M-14.8M1.787.33N/AN/A28,15650,0241,242,0491,397,449
2010-12-13$76.84$75.0025.1%6.8%25.7%10.5%23.5%4.4%2.3%90.3M-811.9M-13.6M0.835.63N/AN/A50,05141,6241,256,7441,430,049
2010-12-14$76.91$76.0024.1%6.5%25.7%7.3%24.2%4.8%3.0%97.9M-696.6M-12.7M0.736.34N/AN/A93,22768,2051,269,4351,448,034
2010-12-15$75.31$75.0024.3%7.0%24.8%7.8%24.7%4.5%2.5%29.5M707.9M-13.4M0.897.01N/AN/A45,04040,0911,320,6391,487,707
2010-12-16$75.31$76.0023.7%6.8%24.8%6.1%24.3%3.7%2.2%62.9M647.4M-13.0M0.746.28N/AN/A38,78328,7851,325,7191,501,673
2010-12-17$75.69$76.0021.3%6.1%22.7%0.0%22.7%2.8%2.9%48.4M334.5M-12.0M1.245.96N/AN/A94,472117,1271,329,6531,513,496
2010-12-20$74.93$77.0021.8%6.2%22.9%1.3%13.8%0.7%2.1%46.8M1.14B-12.5M0.027.06N/AN/A4,575,59871,182896,6241,092,573
2010-12-21$73.84$80.0025.1%7.2%23.0%11.7%25.4%3.3%0.9%-24.0M2.37B-15.1M0.852.72N/AN/A47,20440,113799,1301,122,706
2010-12-22$74.59$80.0023.6%6.8%20.9%6.9%25.1%4.5%1.8%-4.8M2.13B-15.1M2.412.97N/AN/A21,48951,888821,7701,122,858
2010-12-23$74.50$80.0024.1%6.9%18.9%8.4%23.5%4.6%2.4%-15.1M2.20B-15.5M2.402.82N/AN/A11,46427,498814,5571,155,687
2010-12-27$74.04$80.0024.5%7.0%18.3%9.8%27.0%4.3%2.2%-27.6M2.44B-14.9M1.943.43N/AN/A4,4558,642812,7411,175,242
2010-12-28$74.12$80.0024.6%7.0%18.1%10.0%26.5%4.1%2.3%-27.1M2.41B-14.9M3.553.36N/AN/A4,86817,270812,3861,179,799
2010-12-29$75.92$80.0023.2%6.6%20.0%5.7%22.3%5.2%2.7%2.7M1.71B-15.1M0.213.21N/AN/A97,29420,914813,6571,186,449
2010-12-30$76.98$79.0022.2%6.4%18.9%2.6%22.1%4.7%2.9%39.1M851.2M-15.2M0.573.48N/AN/A32,16818,351854,8871,155,835
2010-12-31$77.40$79.0024.5%7.0%18.6%9.8%25.6%5.7%3.0%35.1M720.1M-15.3M1.522.73N/AN/A13,98321,307848,0291,158,426