EWZ Options History — November 2015

In November 2015, EWZ traded between $22.52 and $25.49. ATM implied volatility averaged 39.4%, placing in the 47.9% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 3.2% (HV 20d: 36.2%). Max pain ranged from $23.00 to $30.00. Net GEX was positive for 9 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.79.

Notable Days

  • 2015-11-03: Highest Volume — 342,494 contracts
  • 2015-11-30: Largest IV spike — 8.3% change
  • 2015-11-13: Highest IV Rank — 60.0%
  • 2015-11-30: Largest Expected Move — 13.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.11$22.52$25.49$23.39$22.52
Max Pain$28.98$23.00$30.00$23.00$30.00
ATM IV39.4%37.0%43.1%38.8%42.2%
Expected Move11.5%10.6%13.0%11.4%13.0%
HV 20d36.2%29.6%44.3%29.6%44.3%
HV 60d41.7%40.7%42.5%40.7%41.8%
IV Rank47.9%39.9%60.0%46.0%57.0%
IV Percentile77.7%67.9%84.5%80.2%82.9%
Term Structure-0.2%-0.9%0.8%-0.2%-0.7%
VWIV40.1%28.6%46.2%40.1%46.2%
Skew 25d4.9%3.6%7.9%4.5%7.9%
Skew 10d8.6%7.3%11.5%9.6%11.5%
Call IV 25d37.6%34.1%41.4%37.5%38.3%
Put IV 25d42.6%39.8%46.3%42.1%46.3%
Bid-Ask Spread %4.373.126.734.693.18
Gamma HHI0.080.060.180.080.09
Net GEX1.6M-11.4M36.6M-3.8M-11.4M
Net DEX2.53B2.14B2.94B2.66B2.94B
Net VEX-10.4M-11.3M-8.5M-10.2M-8.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.790.124.590.380.97
Total Volume161,257.527,693342,494286,25496,894
Total OI4,160,037.14,053,7764,250,1884,072,9974,229,439

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-11-02$23.39$23.0038.8%11.4%29.6%46.0%40.1%4.5%-0.2%-3.8M2.66B-10.2M0.384.69N/AN/A206,72779,5272,044,8592,028,138
2015-11-03$24.73$23.0038.0%11.3%35.6%43.4%41.9%4.2%-0.2%8.9M2.35B-11.1M0.623.58N/AN/A211,205131,2892,031,5472,037,257
2015-11-04$24.13$23.5038.9%11.6%36.3%46.2%41.5%4.0%-0.1%1.5M2.48B-11.0M0.564.31N/AN/A125,10370,4752,047,0742,076,420
2015-11-05$24.46$30.0037.7%10.9%35.6%42.3%28.6%3.6%-0.1%4.1M2.41B-11.3M0.625.27N/AN/A124,14276,6692,065,6022,088,560
2015-11-06$24.10$30.0038.7%11.2%35.6%45.4%39.1%4.2%-0.1%-1.5M2.51B-10.6M1.516.35N/AN/A27,33741,3432,068,1792,071,815
2015-11-09$23.36$30.0039.9%11.7%36.7%49.4%42.3%5.1%0.6%-7.5M2.69B-9.9M4.594.20N/AN/A4,95322,7402,033,4112,061,438
2015-11-10$23.75$30.0040.8%11.6%32.6%52.3%39.9%3.9%-0.3%-5.4M2.61B-10.3M0.374.55N/AN/A140,67852,6842,033,7982,074,031
2015-11-11$24.24$30.0040.6%11.5%33.3%51.8%42.0%3.9%-0.4%3.0M2.41B-10.9M0.426.73N/AN/A112,57547,2902,075,8822,082,671
2015-11-12$23.64$30.0041.4%12.0%34.3%54.4%38.9%4.5%0.3%-4.5M2.59B-10.3M0.404.26N/AN/A97,38738,8012,085,1082,086,821
2015-11-13$23.28$30.0043.1%12.5%34.6%60.0%44.6%4.9%0.8%-6.4M2.70B-10.0M0.844.87N/AN/A132,758111,9392,081,2782,092,565
2015-11-16$23.96$30.0041.8%12.0%36.0%55.7%43.9%4.4%0.1%-2.0M2.60B-10.2M1.245.74N/AN/A12,62715,6122,078,9062,120,972
2015-11-17$23.93$30.0041.3%11.8%35.3%53.9%40.9%4.8%-0.9%-1.4M2.58B-10.2M0.604.51N/AN/A89,95753,7172,079,0842,125,068
2015-11-18$24.65$30.0038.5%11.0%36.3%44.7%38.1%3.9%0.4%5.5M2.42B-10.6M0.523.71N/AN/A98,08150,7552,092,1182,140,072
2015-11-19$25.10$30.0037.0%10.6%35.3%40.1%37.1%4.0%0.3%14.4M2.26B-10.8M0.483.12N/AN/A78,36937,5412,100,0572,139,973
2015-11-20$25.49$30.0037.2%10.7%35.6%40.8%39.3%4.6%-0.7%36.6M2.14B-11.0M0.563.57N/AN/A100,08856,1762,102,6952,147,493
2015-11-23$24.85$30.0037.2%10.8%36.6%40.7%38.1%6.0%-0.6%2.9M2.44B-10.5M0.343.58N/AN/A108,48937,1832,011,9582,041,818
2015-11-24$25.23$30.0037.0%10.7%36.7%39.9%37.6%5.7%-0.3%7.5M2.35B-10.9M0.123.63N/AN/A87,75910,7732,076,3332,052,890
2015-11-25$24.05$30.0039.1%11.7%40.9%46.8%41.6%7.1%-0.8%-3.3M2.60B-10.1M0.223.46N/AN/A194,39843,0372,095,8872,056,584
2015-11-27$23.34$30.0039.0%11.7%42.3%46.5%41.0%7.0%-0.4%-4.5M2.76B-9.6M0.434.14N/AN/A138,42959,6432,169,7822,073,159
2015-11-30$22.52$30.0042.2%13.0%44.3%57.0%46.2%7.9%-0.7%-11.4M2.94B-8.5M0.973.18N/AN/A49,25847,6362,152,0882,077,351