EWZ Options History — January 2019

In January 2019, EWZ traded between $40.53 and $45.26. ATM implied volatility averaged 30.9%, placing in the 16.4% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded above realized volatility by 1.1% (HV 20d: 29.8%). Max pain ranged from $38.00 to $42.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 1.53.

Notable Days

  • 2019-01-08: Highest Volume — 325,704 contracts
  • 2019-01-22: Largest IV spike — 8.6% change
  • 2019-01-03: Highest IV Rank — 25.1%
  • 2019-01-03: Largest Expected Move — 9.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.81$40.53$45.26$40.53$45.26
Max Pain$40.62$38.00$42.50$40.00$40.00
ATM IV30.9%28.8%34.2%33.7%29.7%
Expected Move8.9%8.3%9.9%9.8%8.6%
HV 20d29.8%23.1%34.9%34.2%23.1%
HV 60d32.5%29.9%36.4%36.4%30.2%
IV Rank16.4%11.7%25.1%23.9%11.7%
IV Percentile37.9%22.2%63.9%60.3%27.8%
Term Structure0.1%-0.3%0.9%-0.1%-0.0%
VWIV31.8%28.0%36.3%34.5%29.4%
Skew 25d5.6%4.4%6.5%4.7%5.9%
Skew 10d11.0%8.5%12.5%8.5%11.3%
Call IV 25d28.3%25.7%31.9%31.7%27.3%
Put IV 25d33.9%31.5%37.0%36.4%33.2%
Bid-Ask Spread %2.832.223.703.083.70
Gamma HHI0.140.080.180.080.15
Net GEX103.2M56.0M142.2M56.0M120.7M
Net DEX-2.11B-3.40B-932.3M-932.3M-2.66B
Net VEX-13.1M-14.9M-11.1M-11.6M-14.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.530.147.110.991.20
Total Volume166,081.28648,780325,704161,218209,294
Total OI2,979,840.4292,254,0383,854,0152,790,3222,542,665

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-01-02$40.53$40.0033.7%9.8%34.2%23.9%34.5%4.7%-0.1%56.0M-932.3M-11.6M0.993.08N/AN/A81,04180,1771,297,6561,492,666
2019-01-03$40.94$38.0034.2%9.9%33.7%25.1%35.7%5.1%0.4%66.7M-1.20B-11.7M0.763.07N/AN/A68,66252,4441,330,1171,544,277
2019-01-04$41.93$38.0032.1%9.3%34.5%20.0%32.9%4.8%-0.1%71.9M-1.78B-11.5M1.283.00N/AN/A93,414119,3891,337,6711,567,987
2019-01-07$41.44$38.0032.7%9.5%34.9%21.4%33.6%4.8%0.5%68.4M-1.39B-11.3M0.943.30N/AN/A25,13923,6411,344,3021,633,927
2019-01-08$41.88$39.0031.3%9.1%34.9%18.0%31.2%5.2%0.3%81.2M-1.69B-11.1M0.403.21N/AN/A232,67993,0251,366,7501,656,144
2019-01-09$42.91$39.0029.7%8.6%30.4%14.0%29.5%4.7%0.5%119.3M-2.69B-11.9M0.143.14N/AN/A264,78537,3861,558,3011,688,493
2019-01-10$42.84$39.0029.4%8.5%30.5%13.3%28.5%4.4%0.2%142.2M-2.97B-13.0M1.732.84N/AN/A94,909164,5231,737,9991,707,234
2019-01-11$42.74$41.0029.0%8.5%30.3%12.4%28.0%5.6%0.9%137.6M-2.81B-13.5M1.583.37N/AN/A65,233103,3341,790,1361,784,815
2019-01-14$43.01$41.0029.6%8.5%30.3%13.8%30.5%6.0%-0.1%138.9M-3.00B-13.0M0.452.27N/AN/A76,34034,4841,783,9151,765,274
2019-01-15$42.74$41.0030.4%8.7%29.6%15.8%31.7%6.0%-0.2%137.0M-2.79B-13.3M1.892.89N/AN/A32,94862,3741,835,8811,790,267
2019-01-16$42.75$41.0029.5%8.5%28.9%13.7%28.4%5.9%-0.3%131.5M-2.76B-13.2M1.362.59N/AN/A47,59064,7611,847,4571,819,945
2019-01-17$42.98$41.5029.3%8.4%28.6%13.2%30.6%6.0%-0.1%120.3M-2.99B-13.1M0.972.57N/AN/A106,487103,4841,860,2631,860,996
2019-01-18$43.25$42.0028.8%8.3%26.1%11.9%29.4%5.8%0.3%97.0M-3.40B-13.4M0.642.60N/AN/A128,04882,2591,916,3641,937,651
2019-01-22$42.12$42.0031.3%9.1%28.1%18.0%31.7%6.3%0.0%75.7M-948.3M-13.4M1.282.88N/AN/A29,11237,2821,173,6891,080,349
2019-01-23$43.25$42.0031.0%9.0%28.1%17.3%32.6%6.1%0.1%103.1M-1.59B-13.7M1.152.83N/AN/A136,070156,8521,185,7571,108,529
2019-01-24$43.62$42.0030.6%8.9%26.7%16.3%34.6%6.2%0.1%113.0M-1.75B-14.4M2.322.22N/AN/A48,136111,7171,217,0981,180,350
2019-01-25$43.74$42.0031.0%9.0%26.7%15.0%30.1%6.3%0.3%122.1M-1.84B-14.4M1.542.47N/AN/A54,13083,2881,244,6111,198,129
2019-01-28$42.88$42.0032.3%9.5%28.4%18.1%36.3%6.5%-0.1%74.3M-1.24B-14.1M7.112.30N/AN/A11,48181,6681,218,9611,184,498
2019-01-29$43.47$42.0031.9%9.3%28.4%17.2%33.5%6.5%0.4%82.9M-1.51B-14.9M3.192.54N/AN/A18,09957,6811,231,2711,256,013
2019-01-30$44.67$42.5030.9%8.9%29.3%14.7%34.4%5.8%-0.3%106.8M-2.28B-14.4M1.132.59N/AN/A53,75560,5861,238,3941,259,847
2019-01-31$45.26$40.0029.7%8.6%23.1%11.7%29.4%5.9%-0.0%120.7M-2.66B-14.6M1.203.70N/AN/A94,955114,3391,272,2591,270,406