EWZ Options History — May 2014

In May 2014, EWZ traded between $46.49 and $49.68. ATM implied volatility averaged 22.3%, placing in the 39.6% IV rank vs the trailing year. The 30-day expected move averaged 7.4%. IV traded above realized volatility by 1.7% (HV 20d: 20.5%). Max pain ranged from $47.00 to $50.00. Net GEX was positive for 11 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.77.

Notable Days

  • 2014-05-09: Highest Volume — 151,078 contracts
  • 2014-05-27: Largest IV spike — 47.5% change
  • 2014-05-05: Highest IV Rank — 49.4%
  • 2014-05-01: Largest Expected Move — 7.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$48.31$46.49$49.68$46.86$46.49
Max Pain$48.00$47.00$50.00$47.00$50.00
ATM IV22.3%16.6%24.6%24.4%24.6%
Expected Move7.4%7.2%7.6%7.6%7.4%
HV 20d20.5%18.3%22.4%19.6%22.0%
HV 60d23.2%21.8%24.7%23.9%22.4%
IV Rank39.6%17.1%49.4%48.8%43.1%
IV Percentile19.3%2.0%35.7%34.9%35.3%
Term Structure0.5%-6.8%8.4%0.2%-0.8%
VWIV26.5%23.7%31.0%31.0%25.8%
Skew 25d4.6%2.5%8.0%3.8%5.1%
Skew 10d7.9%5.4%11.1%8.7%7.6%
Call IV 25d20.7%15.6%23.2%23.1%22.1%
Put IV 25d25.3%23.2%27.5%26.9%27.2%
Bid-Ask Spread %7.185.959.817.137.12
Gamma HHI0.070.060.090.060.06
Net GEX796.1K-74.2M49.9M-32.9M-74.2M
Net DEX146.1M-773.3M1.73B832.3M1.73B
Net VEX-24.5M-25.2M-23.9M-24.0M-24.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.770.457.650.911.45
Total Volume75,812.85745,873151,07848,23484,895
Total OI3,067,027.5712,892,1333,230,7962,906,5113,230,796

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-05-01$46.86$47.0024.4%7.6%19.6%48.8%31.0%3.8%0.2%-32.9M832.3M-24.0M0.917.13N/AN/A25,25022,9841,044,6871,861,824
2014-05-02$48.48$47.0023.6%7.5%22.3%45.5%27.7%2.8%0.1%16.5M-85.4M-24.0M0.656.68N/AN/A43,27128,0941,054,9141,876,191
2014-05-05$48.12$47.0024.6%7.5%22.4%49.4%29.7%3.5%0.1%-4.7M161.4M-23.9M0.807.32N/AN/A25,52220,3511,050,1191,842,014
2014-05-06$48.69$47.0024.2%7.5%20.8%48.0%28.8%3.4%0.0%7.8M-217.8M-24.2M1.586.89N/AN/A24,53538,7341,066,0681,856,267
2014-05-07$49.19$47.0024.2%7.5%21.0%47.9%25.9%3.5%0.0%22.3M-519.8M-24.2M0.506.31N/AN/A63,32731,7981,087,8691,872,065
2014-05-08$48.75$47.0024.0%7.5%21.3%47.1%25.1%3.0%0.2%22.6M-301.1M-24.4M1.185.95N/AN/A26,86631,6521,125,8111,888,925
2014-05-09$48.54$47.0023.5%7.5%21.3%45.1%26.0%3.1%-0.1%17.2M-143.6M-24.2M1.089.81N/AN/A72,67178,4071,124,0411,912,178
2014-05-12$49.26$47.0022.6%7.4%21.6%41.6%26.5%3.0%-3.6%34.5M-587.6M-24.6M0.556.58N/AN/A60,17533,0261,166,6411,938,924
2014-05-13$49.10$47.0022.1%7.4%21.6%39.6%28.4%2.8%-5.0%40.9M-503.8M-25.0M0.667.37N/AN/A37,42624,7411,180,6071,928,447
2014-05-14$49.68$47.0022.0%7.3%18.7%39.5%25.6%2.5%-6.8%46.8M-773.3M-25.2M1.287.63N/AN/A42,22853,9711,196,8961,941,068
2014-05-15$49.00$47.0022.0%7.4%19.3%39.3%24.9%3.1%-3.8%36.7M-346.0M-25.0M1.647.50N/AN/A25,75242,2191,224,9031,974,071
2014-05-16$49.28$47.0020.6%7.4%18.3%34.1%23.7%2.6%-4.1%49.9M-603.9M-25.2M3.128.49N/AN/A18,15356,5891,227,2171,995,423
2014-05-19$48.86$47.0019.0%7.4%18.6%27.9%23.8%7.1%6.5%913.0K9.2M-25.0M0.456.76N/AN/A65,96729,4751,131,5841,839,196
2014-05-20$47.81$47.0020.2%7.4%20.3%32.4%25.3%7.9%6.4%-17.4M511.9M-24.7M2.226.53N/AN/A34,26376,0371,163,7041,845,414
2014-05-21$48.03$50.0019.5%7.4%20.3%29.3%26.8%8.0%7.3%-17.4M426.3M-25.0M4.317.12N/AN/A11,26648,5201,188,6401,883,961
2014-05-22$48.22$50.0017.8%7.3%20.2%22.8%25.5%7.8%8.4%-15.9M340.5M-25.0M2.177.02N/AN/A15,78034,2451,195,2941,908,440
2014-05-23$47.83$50.0016.6%7.3%19.5%17.1%24.9%8.0%8.1%-19.0M580.9M-24.7M2.267.45N/AN/A16,87738,1951,196,9211,913,843
2014-05-27$47.08$50.0024.5%7.4%20.3%48.0%25.2%5.0%-0.8%-43.4M1.06B-24.4M7.657.48N/AN/A9,91975,8541,189,5291,914,971
2014-05-28$47.65$50.0023.9%7.2%20.6%45.9%27.6%5.7%-0.8%-25.2M688.2M-24.3M1.337.14N/AN/A30,65140,6401,192,6231,976,316
2014-05-29$47.50$50.0023.5%7.4%20.6%39.0%29.4%5.5%-0.9%-29.4M812.4M-24.1M1.346.52N/AN/A22,13629,6081,207,9691,991,208
2014-05-30$46.49$50.0024.6%7.4%22.0%43.1%25.8%5.1%-0.8%-74.2M1.73B-24.3M1.457.12N/AN/A34,66950,2261,221,1932,009,603