EWZ Options History — September 2014

In September 2014, EWZ traded between $43.45 and $54.00. ATM implied volatility averaged 36.1%, placing in the 88.0% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 8.6% (HV 20d: 27.5%). Max pain ranged from $46.00 to $52.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.08.

Notable Days

  • 2014-09-30: Highest Volume — 405,446 contracts
  • 2014-09-23: Largest IV spike — 16.6% change
  • 2014-09-11: Highest IV Rank — 100.0%
  • 2014-09-29: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$48.83$43.45$54.00$53.90$43.45
Max Pain$50.60$46.00$52.00$52.00$46.00
ATM IV36.1%23.7%53.6%23.7%53.1%
Expected Move8.1%7.2%9.5%7.3%9.3%
HV 20d27.5%19.3%35.6%20.5%35.2%
HV 60d23.4%19.7%28.5%20.5%28.5%
IV Rank88.0%39.3%100.0%39.3%98.7%
IV Percentile89.9%40.9%100.0%40.9%99.6%
Term Structure1.7%-4.3%7.5%4.6%-2.7%
VWIV29.4%25.1%37.1%31.0%37.1%
Skew 25d2.4%-1.1%4.1%2.6%-1.1%
Skew 10d4.6%0.0%8.2%6.0%1.1%
Call IV 25d34.8%22.0%55.0%22.7%54.0%
Put IV 25d37.1%25.2%55.2%25.3%52.8%
Bid-Ask Spread %8.645.4215.146.6713.87
Gamma HHI0.060.050.150.060.06
Net GEX-28.7M-133.3M52.9M50.1M-79.1M
Net DEX1.39B-1.76B3.90B-1.68B3.90B
Net VEX-25.0M-25.9M-23.3M-25.3M-23.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.641.790.880.95
Total Volume159,555.09565,129405,44665,129405,446
Total OI3,793,196.4763,393,2094,072,7373,610,7844,033,122

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-09-02$53.90$52.0023.7%7.3%20.5%39.3%31.0%2.6%4.6%50.1M-1.68B-25.3M0.886.67N/AN/A34,65730,4721,436,4952,174,289
2014-09-03$54.00$52.0024.2%7.2%19.3%42.2%25.9%3.0%4.3%52.9M-1.76B-25.2M1.108.20N/AN/A35,42239,0681,463,4112,180,229
2014-09-04$53.10$52.0024.8%7.2%20.8%51.0%26.9%2.9%4.8%35.8M-1.12B-25.6M1.457.36N/AN/A32,92947,5871,471,3752,198,735
2014-09-05$53.16$52.0025.1%7.3%19.9%53.5%27.2%3.2%4.9%47.2M-1.12B-25.5M1.287.11N/AN/A44,36256,7631,486,9442,227,213
2014-09-08$51.42$52.0029.1%7.4%24.0%78.5%25.1%4.0%-0.7%15.3M-7.3M-25.5M1.446.92N/AN/A29,98343,1311,501,5922,213,461
2014-09-09$50.29$52.0031.6%7.6%24.6%94.0%29.0%4.1%-1.3%-15.4M859.4M-25.5M1.186.40N/AN/A69,01081,4171,512,1062,227,470
2014-09-10$49.80$52.0032.2%7.6%24.9%99.7%26.6%4.0%-1.6%-30.7M1.28B-25.5M0.885.86N/AN/A75,38966,4401,531,8992,268,146
2014-09-11$49.96$52.0032.7%7.7%24.2%100.0%29.6%3.2%-1.4%-16.9M1.09B-25.8M0.645.42N/AN/A65,70141,8081,583,3712,285,072
2014-09-12$47.81$52.0034.0%7.9%29.1%100.0%29.1%1.8%-1.3%-66.2M2.54B-25.2M0.886.00N/AN/A105,39792,3701,609,2202,298,187
2014-09-15$48.37$52.0035.3%8.0%28.4%100.0%29.5%2.9%0.4%-46.1M2.01B-25.1M0.896.32N/AN/A49,69044,4621,624,1972,298,317
2014-09-16$49.81$52.0035.1%7.9%30.0%98.6%28.1%3.0%-0.0%-11.0M937.2M-25.9M1.036.18N/AN/A95,86199,0941,635,7722,307,757
2014-09-17$49.09$52.0035.4%7.9%29.6%100.0%29.3%2.0%-0.6%-37.3M1.49B-25.2M1.745.89N/AN/A45,25978,6241,667,1332,344,839
2014-09-18$48.37$52.0035.5%7.9%29.9%100.0%27.2%2.6%-0.2%-68.8M2.06B-24.8M1.486.36N/AN/A50,60174,8041,663,2062,349,990
2014-09-19$47.75$52.0036.0%8.1%30.1%100.0%27.4%2.1%0.2%-133.3M2.62B-24.5M1.796.78N/AN/A44,38879,4351,692,6972,380,040
2014-09-22$46.51$52.0038.4%8.2%31.1%100.0%29.1%2.5%5.2%-53.2M2.41B-23.3M0.848.40N/AN/A141,110118,8341,420,5231,972,686
2014-09-23$46.21$0.0044.8%9.1%30.3%100.0%31.4%1.7%5.8%-45.3M2.47B-24.2M0.7711.12N/AN/A109,62283,9851,497,7712,035,600
2014-09-24$46.80$47.0043.0%8.9%30.0%93.5%31.3%1.6%6.3%-39.0M2.21B-25.3M0.9113.84N/AN/A154,483140,0621,569,1932,099,990
2014-09-25$45.42$47.0045.1%9.2%29.3%100.0%32.1%0.1%5.9%-57.8M3.00B-24.7M0.7715.14N/AN/A49,79138,3791,608,7832,153,212
2014-09-26$46.49$46.0046.1%9.1%31.3%100.0%30.7%3.2%7.5%-36.9M2.44B-25.3M0.7412.58N/AN/A84,64862,7031,640,3822,168,924
2014-09-29$43.72$46.0053.6%9.5%35.6%100.0%33.2%0.2%-4.3%-66.5M3.65B-23.4M1.0315.04N/AN/A151,564155,9061,653,3342,170,443
2014-09-30$43.45$46.0053.1%9.3%35.2%98.7%37.1%-1.1%-2.7%-79.1M3.90B-23.6M0.9513.87N/AN/A207,546197,9001,752,5012,280,621