EWZ Options History — March 2013

In March 2013, EWZ traded between $53.39 and $57.65. ATM implied volatility averaged 17.5%, placing in the 23.9% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded above realized volatility by 1.5% (HV 20d: 16.0%). Max pain ranged from $55.00 to $57.00. Net GEX was positive for 4 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 1.41.

Notable Days

  • 2013-03-11: Highest Volume — 99,530 contracts
  • 2013-03-04: Largest IV spike — 17.9% change
  • 2013-03-22: Highest IV Rank — 31.5%
  • 2013-03-22: Largest Expected Move — 5.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$55.36$53.39$57.65$55.20$54.48
Max Pain$56.10$55.00$57.00$55.00$55.00
ATM IV17.5%15.3%20.2%16.9%15.5%
Expected Move4.9%4.4%5.8%4.8%4.4%
HV 20d16.0%13.1%17.7%13.6%15.4%
HV 60d13.6%12.6%13.9%12.8%13.7%
IV Rank23.9%17.9%31.5%22.3%18.4%
IV Percentile12.5%3.2%27.0%8.7%5.2%
Term Structure-0.5%-2.0%0.9%0.4%0.9%
VWIV17.6%16.0%20.5%17.5%16.3%
Skew 25d2.9%1.7%4.0%3.0%2.5%
Skew 10d6.0%3.4%7.6%6.6%5.0%
Call IV 25d16.1%14.8%18.8%15.6%14.8%
Put IV 25d19.0%16.9%22.3%18.7%17.2%
Bid-Ask Spread %4.232.958.068.063.27
Gamma HHI0.090.080.120.100.08
Net GEX-29.6M-67.1M24.0M-22.7M-66.0M
Net DEX344.1M-829.6M1.18B486.8M811.6M
Net VEX-14.8M-15.2M-14.2M-15.2M-14.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.410.652.810.750.66
Total Volume51,121.427,30299,53046,79241,652
Total OI1,423,734.451,165,2891,670,5071,438,4271,385,642

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-03-01$55.20$55.0016.9%4.8%13.6%22.3%17.5%3.0%0.4%-22.7M486.8M-15.2M0.758.06N/AN/A26,71020,082574,358864,069
2013-03-04$54.78$56.0019.9%4.9%13.5%30.8%17.5%3.7%-1.1%-31.4M672.1M-15.0M0.914.74N/AN/A14,32713,053583,101866,111
2013-03-05$55.10$55.5018.4%4.8%13.1%26.6%19.2%3.4%-0.8%-20.6M467.2M-15.0M2.815.04N/AN/A7,83521,998600,276873,500
2013-03-06$56.44$55.0016.6%4.7%15.8%21.4%17.1%2.5%-1.2%-1.7M-241.7M-14.9M1.395.23N/AN/A31,07443,176600,270889,075
2013-03-07$57.29$55.5016.7%4.6%16.6%21.6%16.2%1.7%-0.9%14.3M-647.0M-14.6M0.654.43N/AN/A51,48633,534618,186910,037
2013-03-08$57.65$56.0015.3%4.5%16.7%17.9%16.0%1.7%-1.4%24.0M-829.6M-14.9M0.884.39N/AN/A28,00324,562645,807931,092
2013-03-11$57.26$56.5017.0%4.6%16.9%22.4%16.5%2.2%-0.8%20.7M-659.8M-14.9M1.163.26N/AN/A45,99853,532653,080931,925
2013-03-12$57.04$56.5016.8%4.6%17.0%21.8%16.0%2.2%-1.6%20.6M-577.0M-14.9M2.484.25N/AN/A9,08922,572673,462952,464
2013-03-13$56.29$57.0018.4%4.8%17.7%26.4%17.6%2.7%-1.3%-12.9M-122.0M-15.2M1.473.95N/AN/A15,56522,861677,934976,780
2013-03-14$56.02$57.0016.6%4.8%17.5%21.5%17.6%3.2%-2.0%-29.5M11.8M-14.9M2.694.53N/AN/A15,62642,019671,936980,539
2013-03-15$55.73$57.0016.2%4.7%17.5%20.4%17.4%2.8%-1.1%-50.6M135.9M-14.8M1.534.55N/AN/A15,51423,765678,523991,984
2013-03-18$55.32$57.0017.0%4.9%17.7%22.5%17.6%3.1%0.7%-44.5M607.3M-14.7M1.163.91N/AN/A12,62714,675431,357733,932
2013-03-19$55.06$56.5018.1%5.2%17.7%25.7%18.4%3.6%0.2%-44.6M654.1M-14.7M1.313.63N/AN/A17,49922,905439,028740,564
2013-03-20$54.74$56.5018.3%5.2%16.0%26.2%17.9%3.5%0.2%-48.5M763.7M-14.7M1.373.76N/AN/A16,08722,061446,762749,409
2013-03-21$53.85$56.5019.6%5.6%16.1%29.7%20.0%4.0%-0.1%-55.1M1.02B-14.6M2.033.45N/AN/A21,01642,624454,653756,972
2013-03-22$53.70$56.5020.2%5.8%15.6%31.5%20.5%3.5%-0.5%-58.1M1.09B-14.5M1.464.20N/AN/A20,45629,930465,217784,085
2013-03-25$53.39$56.0018.4%5.3%15.2%26.5%18.5%3.5%0.1%-63.9M1.18B-14.2M1.093.92N/AN/A35,20838,264476,063792,299
2013-03-26$53.71$56.0017.4%5.0%15.1%23.8%17.5%3.0%0.2%-67.1M1.14B-14.4M0.802.95N/AN/A35,00728,065496,852816,076
2013-03-27$54.23$55.0016.4%4.7%15.3%20.9%16.8%2.5%0.6%-54.5M916.2M-14.8M1.682.99N/AN/A15,66926,302525,218836,051
2013-03-28$54.48$55.0015.5%4.4%15.4%18.4%16.3%2.5%0.9%-66.0M811.6M-14.9M0.663.27N/AN/A25,03216,620532,964852,678