EWZ Options History — February 2012

In February 2012, EWZ traded between $67.31 and $70.07. ATM implied volatility averaged 26.8%, placing in the 13.1% IV rank vs the trailing year. The 30-day expected move averaged 7.4%. IV traded above realized volatility by 7.1% (HV 20d: 19.7%). Max pain ranged from $63.00 to $65.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 1.40.

Notable Days

  • 2012-02-03: Highest Volume — 102,180 contracts
  • 2012-02-06: Largest IV spike — 23.0% change
  • 2012-02-29: Highest IV Rank — 18.1%
  • 2012-02-15: Largest Expected Move — 8.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$68.50$67.31$70.07$67.34$69.18
Max Pain$64.35$63.00$65.00$63.00$65.00
ATM IV26.8%23.3%30.2%29.5%30.2%
Expected Move7.4%6.4%8.5%7.1%7.1%
HV 20d19.7%17.9%21.8%21.8%19.6%
HV 60d29.3%24.9%32.1%32.0%25.0%
IV Rank13.1%8.0%18.1%17.0%18.1%
IV Percentile39.0%15.1%57.9%54.8%57.9%
Term Structure1.2%0.4%2.4%2.1%1.0%
VWIV26.9%23.1%31.7%25.5%25.1%
Skew 25d5.9%3.4%8.1%4.0%4.1%
Skew 10d11.8%6.9%16.1%8.9%7.5%
Call IV 25d23.5%20.9%26.5%22.5%23.2%
Put IV 25d29.4%25.2%34.7%26.6%27.3%
Bid-Ask Spread %4.543.185.394.384.00
Gamma HHI0.070.060.080.070.07
Net GEX10.3M-2.7M23.8M8.7M11.3M
Net DEX-958.5M-1.22B-628.9M-904.5M-914.1M
Net VEX-16.6M-17.4M-14.3M-14.3M-17.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.400.592.511.501.19
Total Volume58,517.2517,312102,18094,80266,990
Total OI1,431,613.11,202,9811,581,8961,202,9811,512,070

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-02-01$67.34$63.0029.5%7.1%21.8%17.0%25.5%4.0%2.1%8.7M-904.5M-14.3M1.504.38N/AN/A37,95656,846487,198715,783
2012-02-02$67.79$64.0024.5%6.9%21.8%9.7%24.4%4.1%2.4%9.1M-974.9M-14.9M2.513.18N/AN/A27,30368,525509,401774,713
2012-02-03$68.27$63.0024.5%7.7%20.5%9.7%28.1%6.2%1.3%9.6M-1.04B-15.7M1.994.52N/AN/A34,17768,003518,557795,216
2012-02-06$68.13$63.0030.1%7.9%19.8%17.9%27.4%7.0%0.4%6.4M-938.7M-16.1M0.884.91N/AN/A17,53615,493531,622836,817
2012-02-07$68.89$64.0028.8%7.6%19.2%16.0%26.4%6.3%1.0%15.1M-1.16B-15.9M0.974.19N/AN/A27,64826,928538,487844,145
2012-02-08$68.93$64.0025.2%7.7%18.7%10.7%27.4%6.3%0.7%12.8M-1.12B-16.5M1.333.55N/AN/A29,82939,771552,038874,097
2012-02-09$68.82$64.0026.0%7.5%18.9%12.0%27.2%6.0%1.4%13.8M-1.11B-16.7M1.503.71N/AN/A6,93010,382567,468886,033
2012-02-10$67.39$64.0028.3%8.1%20.9%15.3%31.5%7.5%1.0%-320.2K-666.5M-16.9M1.105.05N/AN/A20,22622,272568,876898,257
2012-02-13$68.77$64.0026.8%7.7%20.7%13.1%30.0%7.2%0.9%15.3M-1.10B-16.6M2.134.28N/AN/A8,72918,604570,639890,658
2012-02-14$67.77$64.0028.0%8.0%20.8%14.9%30.0%7.3%0.6%6.3M-812.2M-16.6M2.314.74N/AN/A16,07537,207573,017898,294
2012-02-15$67.31$65.0029.8%8.5%19.0%17.5%31.7%8.1%0.7%-2.7M-628.9M-17.2M1.234.73N/AN/A40,99150,594581,527920,608
2012-02-16$68.47$65.0027.5%7.9%19.7%14.2%29.3%7.9%1.7%12.2M-1.06B-17.2M0.894.49N/AN/A51,85345,958607,410938,629
2012-02-17$68.74$65.0026.6%7.6%19.7%12.8%27.1%6.6%1.6%12.9M-1.18B-17.4M0.765.37N/AN/A24,99218,960624,829957,067
2012-02-21$68.64$65.0025.1%7.2%19.7%10.7%24.6%6.2%0.8%2.1M-778.7M-17.0M0.654.97N/AN/A28,04718,352551,260830,601
2012-02-22$68.75$65.0024.5%7.0%19.7%9.8%25.6%5.3%1.1%12.6M-872.9M-17.1M1.675.12N/AN/A20,46834,265571,760839,704
2012-02-23$68.68$65.0023.6%6.8%18.6%8.4%23.1%4.7%1.3%8.2M-830.7M-17.2M0.595.12N/AN/A34,72620,362574,709856,332
2012-02-24$69.30$65.0023.3%6.4%17.9%8.0%23.2%4.3%2.4%23.6M-1.06B-17.3M1.925.11N/AN/A18,46435,463600,999866,742
2012-02-27$68.71$65.0027.0%7.0%18.3%13.4%25.3%5.3%0.7%5.6M-799.5M-17.3M1.225.39N/AN/A10,50112,796595,234883,967
2012-02-28$70.07$65.0026.1%6.8%18.7%12.0%24.2%3.4%1.1%23.8M-1.22B-17.0M1.623.89N/AN/A17,62328,500598,815888,683
2012-02-29$69.18$65.0030.2%7.1%19.6%18.1%25.1%4.1%1.0%11.3M-914.1M-17.3M1.194.00N/AN/A30,62636,364609,015903,055