EWZ Options History — March 2017

In March 2017, EWZ traded between $36.35 and $38.90. ATM implied volatility averaged 30.7%, placing in the 17.9% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 1.4% (HV 20d: 32.0%). Max pain ranged from $39.00 to $40.00. Net GEX was positive for 4 of 23 trading days. Term structure was in contango for 10 of 23 days. Put/call ratio averaged 2.95.

Notable Days

  • 2017-03-16: Highest Volume — 250,759 contracts
  • 2017-03-02: Largest IV spike — 9.6% change
  • 2017-03-27: Highest IV Rank — 24.1%
  • 2017-03-02: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.44$36.35$38.90$38.90$37.52
Max Pain$39.17$39.00$40.00$40.00$39.00
ATM IV30.7%28.7%33.0%29.0%29.0%
Expected Move8.7%7.8%9.5%8.5%7.8%
HV 20d32.0%25.0%35.3%25.0%29.3%
HV 60d25.7%23.1%27.0%23.1%26.0%
IV Rank17.9%12.6%24.1%13.2%13.4%
IV Percentile26.6%13.1%49.6%13.5%15.5%
Term Structure0.0%-1.3%1.6%-0.0%-0.1%
VWIV31.3%27.0%35.1%30.7%27.0%
Skew 25d3.6%2.3%5.6%3.3%3.5%
Skew 10d7.5%4.5%11.2%6.8%11.2%
Call IV 25d29.4%27.0%32.2%28.0%27.0%
Put IV 25d33.0%30.4%35.9%31.3%30.5%
Bid-Ask Spread %12.747.8320.5111.419.32
Gamma HHI0.080.060.110.100.07
Net GEX-10.8M-23.8M13.8M13.8M-13.9M
Net DEX-11.3M-679.1M523.0M-679.1M-69.0M
Net VEX-9.9M-10.7M-9.1M-9.7M-10.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.951.168.918.911.91
Total Volume110,463.56543,756250,75976,05352,317
Total OI1,748,501.6521,334,3452,029,2391,847,1261,571,173

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-03-01$38.90$40.0029.0%8.5%25.0%13.2%30.7%3.3%-0.0%13.8M-679.1M-9.7M8.9111.41N/AN/A7,67568,378823,4461,023,680
2017-03-02$37.53$40.0031.8%9.5%28.5%20.8%33.8%3.5%0.0%-890.0K-84.1M-9.7M7.427.83N/AN/A11,31383,954823,1581,040,695
2017-03-03$38.46$40.0030.9%9.2%29.7%18.4%32.7%3.0%0.1%6.4M-458.2M-9.8M2.6915.75N/AN/A32,17386,392825,7291,060,998
2017-03-06$38.15$39.0031.3%8.7%29.8%19.6%30.6%2.9%-0.2%6.8M-315.6M-9.5M3.5212.27N/AN/A21,47175,635826,4601,052,206
2017-03-07$37.92$39.0029.3%8.4%29.5%14.2%30.0%2.3%0.8%3.3M-212.1M-9.3M2.6611.43N/AN/A22,60760,162835,1701,061,395
2017-03-08$36.85$39.0031.0%8.8%31.3%18.8%31.8%3.1%-0.1%-12.5M260.3M-9.2M3.5711.48N/AN/A29,666105,970834,9791,071,350
2017-03-09$36.35$39.0031.9%8.9%31.2%21.3%31.3%3.1%-0.2%-21.6M523.0M-9.3M1.9411.84N/AN/A37,77173,101840,5771,119,681
2017-03-10$37.05$39.0030.8%8.8%32.0%18.3%30.5%3.1%0.8%-16.3M275.2M-9.3M3.2911.00N/AN/A32,429106,735846,6131,137,398
2017-03-13$37.48$39.0031.1%8.5%31.4%19.0%30.6%3.0%-1.2%-10.0M120.5M-9.2M2.379.87N/AN/A24,90459,055849,9671,127,466
2017-03-14$36.71$39.0031.3%8.9%32.0%19.5%30.6%3.7%-0.2%-19.3M410.8M-9.1M2.7213.33N/AN/A23,00562,548853,0491,126,933
2017-03-15$38.13$39.0029.5%8.4%34.8%14.7%31.1%2.9%-0.2%-1.5M-121.5M-9.2M1.3120.51N/AN/A52,38468,675859,1911,148,891
2017-03-16$37.87$39.0029.4%8.3%33.3%14.3%28.3%4.1%-0.7%-652.2K-168.6M-9.3M1.1616.48N/AN/A116,151134,608884,2671,130,713
2017-03-17$37.25$40.0029.8%8.3%33.4%15.3%28.0%4.0%-1.2%-22.3M44.9M-9.6M2.9015.64N/AN/A48,855141,529885,4951,143,744
2017-03-20$38.07$39.0028.7%8.2%34.5%12.6%32.1%3.0%1.6%-9.7M-228.7M-10.1M5.2613.10N/AN/A30,022158,026568,372765,973
2017-03-21$36.80$39.0031.2%8.9%35.2%19.3%34.2%4.4%-1.1%-22.8M88.1M-10.5M2.8018.07N/AN/A46,541130,215587,035854,029
2017-03-22$36.95$39.0031.7%9.1%35.3%20.8%33.3%4.8%0.4%-20.2M86.5M-10.5M1.4811.60N/AN/A46,67969,103598,585858,579
2017-03-23$36.61$39.0032.9%9.4%35.2%24.0%35.1%4.9%0.9%-23.8M216.4M-10.7M3.3111.47N/AN/A22,06973,152623,718886,340
2017-03-24$37.12$39.0032.1%9.2%34.3%21.7%31.8%4.0%0.7%-19.3M75.7M-10.6M1.6311.17N/AN/A34,41856,015624,917896,451
2017-03-27$37.01$39.0033.0%9.3%34.2%24.1%34.7%2.5%-1.3%-18.2M97.5M-10.6M1.5210.96N/AN/A30,31946,237630,099879,860
2017-03-28$37.06$39.0031.9%9.0%33.6%21.3%31.9%4.8%-0.1%-18.9M58.7M-10.6M2.0610.56N/AN/A22,40446,255636,793895,072
2017-03-29$37.93$39.0029.5%8.4%32.8%14.7%30.6%3.0%0.6%-10.5M-155.7M-10.6M1.2918.29N/AN/A20,04225,946642,243903,058
2017-03-30$37.37$39.0028.8%8.1%30.6%12.8%29.1%5.6%0.7%-15.2M-25.4M-10.6M2.179.56N/AN/A13,79829,958647,672912,318
2017-03-31$37.52$39.0029.0%7.8%29.3%13.4%27.0%3.5%-0.1%-13.9M-69.0M-10.6M1.919.32N/AN/A17,99434,323652,487918,686