EWZ Options History — January 2020

In January 2020, EWZ traded between $43.61 and $48.36. ATM implied volatility averaged 25.3%, placing in the 27.4% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded above realized volatility by 5.7% (HV 20d: 19.5%). Max pain ranged from $45.00 to $47.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.18.

Notable Days

  • 2020-01-17: Highest Volume — 288,445 contracts
  • 2020-01-27: Largest IV spike — 14.3% change
  • 2020-01-31: Highest IV Rank — 53.5%
  • 2020-01-31: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.31$43.61$48.36$48.36$43.61
Max Pain$46.26$45.00$47.00$45.50$45.00
ATM IV25.3%22.9%29.4%24.0%29.4%
Expected Move7.2%6.5%8.8%6.7%8.8%
HV 20d19.5%15.6%24.8%15.6%24.3%
HV 60d19.9%19.0%21.6%19.4%21.6%
IV Rank27.4%12.2%53.5%19.1%53.5%
IV Percentile15.5%6.0%53.6%7.1%53.6%
Term Structure-0.1%-1.3%0.6%0.6%-0.0%
VWIV25.7%22.7%30.5%26.8%30.5%
Skew 25d5.9%5.0%6.7%5.7%6.6%
Skew 10d11.1%9.7%12.8%11.8%12.8%
Call IV 25d22.5%20.5%26.5%21.2%26.5%
Put IV 25d28.5%25.6%33.1%27.0%33.1%
Bid-Ask Spread %1.761.552.011.721.86
Gamma HHI0.150.070.250.200.07
Net GEX55.4M-23.7M191.1M190.6M-10.4M
Net DEX-683.8M-2.93B977.4M-2.93B977.4M
Net VEX-9.2M-10.4M-8.2M-10.2M-8.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.180.172.590.831.59
Total Volume127,162.66755,090288,445178,46887,239
Total OI2,328,512.4291,502,7492,967,3622,751,5211,768,165

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-01-02$48.36$45.5024.0%6.7%15.6%19.1%26.8%5.7%0.6%190.6M-2.93B-10.2M0.831.72N/AN/A97,74180,7271,339,3051,412,216
2020-01-03$48.18$45.5024.8%7.0%15.8%24.2%27.1%5.9%0.5%191.1M-2.81B-10.4M1.361.65N/AN/A58,78179,8541,377,4281,433,098
2020-01-06$47.27$47.0026.1%7.6%17.8%32.8%26.2%6.7%-0.1%144.0M-1.80B-10.1M2.181.94N/AN/A78,591171,1671,352,6151,438,451
2020-01-07$47.15$47.0026.5%7.6%17.3%35.4%26.9%6.4%-0.3%110.0M-1.45B-10.2M0.781.55N/AN/A40,39331,6631,327,3651,483,248
2020-01-08$47.19$47.0026.6%7.6%17.2%35.8%26.3%6.6%-0.0%113.2M-1.49B-10.2M0.471.65N/AN/A60,89428,6301,334,8841,504,051
2020-01-09$46.66$47.0025.7%7.1%17.7%29.8%25.2%6.4%0.0%92.4M-925.3M-9.9M0.831.89N/AN/A114,80894,9121,353,5651,511,352
2020-01-10$46.30$47.0025.1%7.3%17.6%26.5%24.8%5.9%0.1%55.2M-453.6M-9.9M1.392.01N/AN/A39,22154,4161,404,9071,562,455
2020-01-13$46.59$47.0025.5%7.1%16.3%28.8%25.6%6.0%-0.8%79.0M-910.2M-9.4M2.001.73N/AN/A18,34936,7411,371,0501,498,833
2020-01-14$46.76$47.0024.3%6.9%16.2%21.5%23.4%5.9%-0.4%95.1M-1.11B-9.2M1.251.63N/AN/A31,13038,8111,376,7801,503,227
2020-01-15$45.82$47.0024.6%7.0%17.9%22.8%25.0%5.9%0.2%-15.8M-34.2M-8.9M1.881.76N/AN/A59,551111,7911,395,4951,521,931
2020-01-16$45.72$47.0025.0%6.9%17.9%25.7%24.7%5.7%-0.9%-23.7M-123.2M-8.9M2.591.77N/AN/A33,38086,5161,419,1531,506,490
2020-01-17$46.70$46.0023.1%6.5%18.9%13.7%23.6%5.3%-1.3%56.6M-1.37B-8.6M0.241.62N/AN/A233,38455,0611,434,9291,522,712
2020-01-21$45.78$46.0024.3%6.9%20.1%21.4%24.4%5.7%-0.3%6.2M-39.9M-8.8M2.001.70N/AN/A19,33138,731744,694758,055
2020-01-22$46.41$46.0023.4%6.7%20.5%15.4%24.3%5.3%0.1%19.2M-334.1M-9.0M0.171.99N/AN/A87,41815,246758,590775,859
2020-01-23$47.11$46.0022.9%6.6%20.9%12.2%23.0%5.0%0.1%65.1M-759.3M-9.0M0.291.79N/AN/A138,91439,665792,191780,565
2020-01-24$46.52$46.0023.8%6.9%21.4%18.4%22.7%5.6%-0.2%10.7M-369.8M-9.0M1.141.84N/AN/A37,11442,221812,951792,137
2020-01-27$44.88$46.0027.3%8.0%23.2%40.0%28.1%6.2%0.0%-9.1M471.1M-8.4M1.151.58N/AN/A56,53164,881770,814781,871
2020-01-28$45.74$45.5026.1%7.6%24.3%32.3%26.7%5.8%0.5%-525.6K79.9M-8.8M0.911.65N/AN/A35,20132,178804,866820,939
2020-01-29$45.06$45.5025.6%7.6%24.8%29.3%25.3%6.4%0.5%-510.1K439.1M-8.4M0.621.79N/AN/A44,81827,791829,799834,072
2020-01-30$44.67$45.5026.8%7.9%24.8%36.9%28.1%6.0%0.4%-4.3M578.6M-8.4M1.031.79N/AN/A82,08284,543851,546836,107
2020-01-31$43.61$45.0029.4%8.8%24.3%53.5%30.5%6.6%-0.0%-10.4M977.4M-8.2M1.591.86N/AN/A33,68853,551899,705868,460