EWZ Options History — December 2019

In December 2019, EWZ traded between $43.08 and $47.66. ATM implied volatility averaged 22.6%, placing in the 8.3% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 5.4% (HV 20d: 17.2%). Max pain ranged from $42.50 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.79.

Notable Days

  • 2019-12-13: Highest Volume — 872,967 contracts
  • 2019-12-27: Largest IV spike — 10.3% change
  • 2019-12-30: Highest IV Rank — 28.2%
  • 2019-12-03: Largest Expected Move — 7.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.56$43.08$47.66$43.08$47.39
Max Pain$44.00$42.50$45.00$43.00$45.00
ATM IV22.6%20.9%25.4%22.6%25.3%
Expected Move6.7%6.1%7.5%7.3%7.3%
HV 20d17.2%14.0%21.5%21.1%14.6%
HV 60d20.6%20.1%20.9%20.7%20.1%
IV Rank8.3%0.0%28.2%0.0%27.6%
IV Percentile3.0%0.0%11.5%0.0%10.7%
Term Structure0.6%-0.2%1.7%0.1%0.5%
VWIV23.5%18.6%27.2%25.5%27.2%
Skew 25d5.1%3.0%6.7%5.6%6.7%
Skew 10d9.1%6.3%12.9%8.7%12.9%
Call IV 25d20.5%19.0%22.9%19.7%22.6%
Put IV 25d25.6%23.0%29.5%25.3%29.3%
Bid-Ask Spread %2.251.328.771.973.17
Gamma HHI0.160.100.300.100.17
Net GEX156.3M41.3M268.8M41.3M151.7M
Net DEX-1.67B-2.89B-179.6M-179.6M-2.15B
Net VEX-10.1M-11.3M-8.7M-10.0M-11.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.790.121.560.511.00
Total Volume178,706.52425,795872,967172,11753,573
Total OI3,062,0392,697,2263,381,8482,992,2452,861,732

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-12-02$43.08$43.0022.6%7.3%21.1%0.0%25.5%5.6%0.1%41.3M-179.6M-10.0M0.511.97N/AN/A113,69458,4231,520,5601,471,685
2019-12-03$43.14$42.5023.1%7.5%21.1%3.6%26.3%5.2%0.3%58.0M-273.5M-10.1M1.461.87N/AN/A23,88034,8281,567,5061,501,833
2019-12-04$43.59$42.5021.9%7.1%21.5%0.0%23.5%4.8%0.5%87.9M-712.8M-9.8M0.381.66N/AN/A51,47019,4611,573,5671,520,196
2019-12-05$44.03$43.0022.1%6.7%20.7%1.1%22.8%4.9%0.7%122.1M-1.19B-10.0M0.382.00N/AN/A84,60131,8001,595,4081,527,987
2019-12-06$44.75$43.0021.5%6.3%21.5%0.0%21.6%4.8%0.7%158.8M-1.98B-9.7M0.602.06N/AN/A90,43754,2201,618,6641,543,997
2019-12-09$44.62$43.0022.3%6.4%17.8%5.1%24.2%4.7%0.1%154.3M-1.75B-9.5M1.032.09N/AN/A76,73479,1821,612,2481,545,109
2019-12-10$44.36$43.0022.5%6.8%17.7%6.7%24.4%4.5%1.2%131.3M-1.40B-9.6M0.631.61N/AN/A55,89335,1291,641,9691,595,750
2019-12-11$44.91$43.0021.6%6.4%17.0%1.0%23.9%4.0%0.8%179.9M-2.01B-9.2M0.861.88N/AN/A68,93859,1231,651,3211,612,326
2019-12-12$45.84$43.0020.9%6.2%17.5%0.0%21.8%3.8%1.1%203.4M-2.89B-8.9M0.582.45N/AN/A81,37947,4291,639,3361,646,897
2019-12-13$45.65$43.0021.2%6.1%17.7%1.7%18.6%3.0%-0.2%210.1M-2.70B-8.7M0.128.77N/AN/A781,16591,8021,667,3721,671,818
2019-12-16$45.56$45.0022.3%6.4%17.4%8.3%22.2%4.8%0.6%139.9M-990.7M-9.6M1.411.72N/AN/A91,954129,8851,370,6831,614,338
2019-12-17$45.59$45.0022.1%6.3%15.1%7.0%23.4%5.1%0.9%129.4M-999.8M-9.9M0.711.50N/AN/A52,06537,0041,395,8991,690,330
2019-12-18$46.16$45.0022.9%6.6%15.1%12.4%23.7%4.9%0.4%212.4M-1.71B-10.0M0.491.48N/AN/A148,49273,2301,427,5941,710,069
2019-12-19$46.52$45.0022.1%6.3%15.1%7.1%23.1%5.6%0.9%268.8M-2.16B-10.3M0.661.72N/AN/A159,340104,8991,517,2341,757,880
2019-12-20$46.18$45.0023.1%6.6%15.3%13.7%20.6%5.4%0.4%214.6M-1.93B-10.6M0.311.32N/AN/A401,486122,9861,539,6711,842,177
2019-12-23$46.64$45.0022.6%6.4%15.3%10.7%23.3%5.1%0.5%145.4M-1.61B-11.1M1.561.87N/AN/A36,81657,5941,326,0681,371,158
2019-12-24$46.59$45.0022.5%6.3%15.0%9.7%22.1%5.5%0.5%151.2M-1.60B-11.3M0.181.71N/AN/A21,9513,8441,358,5481,404,962
2019-12-26$47.66$45.0022.2%6.4%14.0%8.0%21.4%5.2%1.7%191.2M-2.57B-11.0M1.171.62N/AN/A32,79538,4991,356,1271,407,110
2019-12-27$47.25$45.0024.5%7.1%14.9%22.4%25.5%6.0%0.2%168.9M-2.17B-11.3M1.342.71N/AN/A56,69776,2271,369,8321,434,583
2019-12-30$47.34$45.0025.4%7.3%15.0%28.2%27.2%6.6%0.3%161.2M-2.14B-11.1M1.262.06N/AN/A50,47363,4391,373,7361,447,539
2019-12-31$47.39$45.0025.3%7.3%14.6%27.6%27.2%6.7%0.5%151.7M-2.15B-11.0M1.003.17N/AN/A26,74726,8261,382,5881,479,144