EWZ Options History — April 2011

In April 2011, EWZ traded between $75.62 and $79.78. ATM implied volatility averaged 21.6%, placing in the 9.0% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 1.8% (HV 20d: 19.8%). Max pain ranged from $75.00 to $77.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 1.54.

Notable Days

  • 2011-04-28: Highest Volume — 116,875 contracts
  • 2011-04-11: Largest IV spike — 24.6% change
  • 2011-04-12: Highest IV Rank — 16.3%
  • 2011-04-12: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$77.98$75.62$79.78$79.22$77.72
Max Pain$76.05$75.00$77.00$75.00$77.00
ATM IV21.6%18.4%24.1%18.4%20.4%
Expected Move6.4%5.7%7.1%5.7%6.3%
HV 20d19.8%17.9%21.0%21.0%20.2%
HV 60d21.5%20.9%22.1%22.1%20.9%
IV Rank9.0%0.0%16.3%0.0%5.8%
IV Percentile6.5%0.0%16.3%0.0%3.6%
Term Structure1.8%1.2%2.2%1.9%2.0%
VWIV23.1%20.8%26.4%20.8%22.6%
Skew 25d4.4%3.2%5.4%3.6%4.0%
Skew 10d8.7%6.3%11.0%7.2%8.5%
Call IV 25d20.3%18.2%22.5%18.2%20.2%
Put IV 25d24.7%21.8%27.5%21.8%24.2%
Bid-Ask Spread %3.753.094.823.954.47
Gamma HHI0.070.050.120.060.06
Net GEX2.4M-38.4M28.8M28.3M-29.8M
Net DEX-519.2M-1.28B394.8M-1.22B-207.2M
Net VEX-16.7M-17.2M-16.3M-16.6M-17.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.540.623.251.511.03
Total Volume54,878.3523,419116,87571,19649,772
Total OI1,357,009.751,209,5071,485,7331,353,6661,391,284

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-04-01$79.22$75.0018.4%5.7%21.0%0.0%20.8%3.6%1.9%28.3M-1.22B-16.6M1.513.95N/AN/A28,39542,801493,276860,390
2011-04-04$79.78$76.0020.0%6.2%20.4%4.6%23.5%5.2%1.7%24.4M-1.28B-16.4M1.534.12N/AN/A13,25820,306489,254863,272
2011-04-05$79.51$76.0019.3%6.1%20.5%2.6%23.5%5.2%1.9%28.3M-1.22B-16.5M0.944.36N/AN/A31,33029,385496,033875,081
2011-04-06$78.66$76.0020.4%6.5%20.9%5.7%22.5%5.1%1.5%28.8M-989.6M-16.9M1.444.30N/AN/A26,03037,534502,956881,112
2011-04-07$79.38$76.0020.1%6.6%17.9%5.0%24.6%5.4%1.6%14.9M-1.15B-16.6M3.254.68N/AN/A12,33240,064497,210899,964
2011-04-08$79.61$76.0019.3%6.4%17.9%2.7%21.8%5.4%1.9%20.7M-1.23B-16.7M1.743.43N/AN/A17,61630,684501,646920,336
2011-04-11$78.47$76.0024.1%6.9%18.8%16.2%24.3%5.3%1.5%21.3M-844.7M-16.9M2.863.87N/AN/A11,55533,025509,401922,697
2011-04-12$76.68$76.0024.1%7.1%20.4%16.3%25.5%5.0%1.7%7.3M-179.9M-17.1M1.683.86N/AN/A21,69636,553511,512928,540
2011-04-13$76.27$76.0024.0%7.0%18.9%15.9%24.8%5.2%1.7%7.1M3.4M-17.0M1.174.82N/AN/A32,63738,317517,013935,094
2011-04-14$76.50$77.0024.0%6.9%18.9%16.1%24.0%4.3%1.9%12.3M-159.2M-16.9M2.243.34N/AN/A12,57328,197522,597951,096
2011-04-15$77.11$76.0023.1%6.6%18.1%13.3%22.8%3.5%1.4%2.6M-412.6M-16.7M1.453.39N/AN/A41,34859,896523,066962,667
2011-04-18$75.62$76.0024.0%6.9%19.7%15.9%26.4%4.5%1.2%-38.4M394.8M-16.9M2.143.47N/AN/A17,08836,624419,171790,336
2011-04-19$76.65$76.0022.1%6.3%19.6%10.5%22.9%4.2%1.7%-31.0M130.7M-16.9M1.293.25N/AN/A17,77022,923424,642812,802
2011-04-20$78.04$76.0021.3%6.1%20.4%8.3%20.9%3.2%1.7%10.8M-350.1M-16.5M0.623.09N/AN/A40,93625,411438,346822,746
2011-04-21$78.60$76.0020.7%5.9%20.4%6.7%21.7%3.4%1.9%-7.0M-512.6M-16.6M1.133.17N/AN/A11,00812,411456,622828,789
2011-04-25$78.17$76.0021.7%6.2%20.6%9.5%22.8%4.0%1.6%-11.8M-337.9M-16.3M0.703.10N/AN/A17,23712,012451,958817,859
2011-04-26$78.83$76.0020.6%5.9%20.1%6.4%21.9%3.8%1.9%-266.9K-563.5M-16.3M0.823.33N/AN/A19,28515,835464,196821,520
2011-04-27$77.89$76.0021.3%6.1%20.6%8.3%21.8%3.5%2.1%-10.8M-303.5M-16.5M1.793.84N/AN/A13,18523,663479,001828,188
2011-04-28$76.84$76.0021.9%6.3%20.1%10.0%22.7%4.1%2.2%-29.8M51.0M-16.8M1.513.22N/AN/A46,61670,259483,590844,932
2011-04-29$77.72$77.0020.4%6.3%20.2%5.8%22.6%4.0%2.0%-29.8M-207.2M-17.2M1.034.47N/AN/A24,46325,309500,306890,978