EWZ Options History — April 2020

In April 2020, EWZ traded between $21.66 and $25.98. ATM implied volatility averaged 68.4%, placing in the 37.7% IV rank vs the trailing year. The 30-day expected move averaged 19.6%. IV traded below realized volatility by 34.0% (HV 20d: 102.5%). Max pain ranged from $25.00 to $35.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 1.10.

Notable Days

  • 2020-04-24: Highest Volume — 244,757 contracts
  • 2020-04-22: Largest IV drop — 12.0% change
  • 2020-04-01: Highest IV Rank — 50.9%
  • 2020-04-01: Largest Expected Move — 25.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.35$21.66$25.98$22.39$24.77
Max Pain$26.62$25.00$35.00$35.00$25.00
ATM IV68.4%55.5%85.0%85.0%58.9%
Expected Move19.6%16.1%25.8%25.8%17.5%
HV 20d102.5%56.5%152.6%151.5%69.5%
HV 60d94.3%90.2%98.2%90.2%98.2%
IV Rank37.7%27.4%50.9%50.9%30.1%
IV Percentile90.5%86.1%95.6%95.6%86.1%
Term Structure-1.6%-4.3%0.2%-3.5%0.1%
VWIV70.2%61.5%94.7%94.7%64.8%
Skew 25d18.3%16.1%24.7%24.7%16.5%
Skew 10d35.8%30.5%51.2%51.2%31.9%
Call IV 25d59.4%47.8%73.5%73.5%51.6%
Put IV 25d77.7%64.0%98.2%98.2%68.1%
Bid-Ask Spread %5.471.9110.3610.291.94
Gamma HHI0.090.060.280.090.09
Net GEX-1.1M-6.0M8.7M-4.7M7.1M
Net DEX1.11B717.5M1.36B1.33B875.0M
Net VEX-3.8M-4.7M-2.7M-3.0M-4.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.100.392.081.161.60
Total Volume67,390.71417,960244,75757,21269,246
Total OI1,867,0551,572,9392,060,6641,888,0931,901,293

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$22.39$35.0085.0%25.8%151.5%50.9%94.7%24.7%-3.5%-4.7M1.33B-3.0M1.1610.29N/AN/A26,52530,6871,061,242826,851
2020-04-02$23.03$28.0079.7%22.1%152.1%46.7%79.4%23.7%-2.4%-2.4M1.31B-3.1M0.759.85N/AN/A31,08223,2551,075,635838,850
2020-04-03$21.66$28.0080.6%22.3%152.6%47.4%81.8%24.6%0.1%-5.2M1.36B-2.7M1.356.57N/AN/A26,17035,4581,096,081844,500
2020-04-06$23.22$27.0076.9%21.1%148.7%44.4%74.5%20.8%-3.2%-4.4M1.30B-3.2M0.547.38N/AN/A45,77124,7741,077,444831,623
2020-04-07$24.70$27.0073.7%20.2%147.1%41.9%73.5%18.3%-3.3%-577.5K1.18B-4.1M0.9910.36N/AN/A26,32426,1791,111,301843,100
2020-04-08$25.65$27.0070.3%19.3%144.0%39.2%68.9%18.9%-2.3%1.1M1.12B-4.4M1.168.50N/AN/A32,79638,0081,119,484850,069
2020-04-09$25.70$27.0069.4%19.0%130.7%38.5%64.8%18.2%-4.3%-827.4K1.11B-4.4M1.645.86N/AN/A30,67750,3391,137,658866,735
2020-04-13$25.34$27.0070.7%20.2%124.4%39.5%71.3%18.4%-2.1%-1.5M1.21B-4.1M0.916.44N/AN/A9,3838,5771,114,845864,876
2020-04-14$25.82$27.0064.6%18.5%109.5%34.7%68.3%17.3%-0.1%339.1K1.18B-4.2M0.934.52N/AN/A33,74631,2141,119,335864,278
2020-04-15$25.26$27.0066.4%19.0%108.0%36.1%65.2%17.3%-1.1%-593.8K1.19B-4.2M1.104.72N/AN/A16,68518,4031,143,991875,986
2020-04-16$24.78$27.0065.8%18.9%86.8%35.6%66.4%16.2%-1.1%-2.2M1.25B-3.9M0.764.27N/AN/A30,66023,3671,148,069880,013
2020-04-17$25.02$26.0064.3%18.5%82.5%34.5%63.8%16.1%-0.8%7.8M1.22B-4.0M0.664.05N/AN/A40,03726,4741,168,454892,210
2020-04-20$24.84$26.0066.2%18.9%82.4%35.9%69.6%16.3%-1.5%-4.0M956.1M-3.9M0.965.44N/AN/A26,40925,461871,370701,569
2020-04-21$24.20$25.0070.8%20.3%76.0%39.6%70.7%17.5%-3.2%-4.1M979.1M-3.7M1.165.39N/AN/A23,24426,908894,126716,040
2020-04-22$24.90$25.0062.3%17.9%64.1%32.8%64.8%16.4%-0.8%-2.4M949.1M-3.8M2.025.30N/AN/A18,89738,148896,041722,521
2020-04-23$24.23$25.0061.9%17.6%56.5%32.5%63.9%16.5%-1.5%-4.3M1.03B-3.7M2.084.72N/AN/A7,84916,310908,257746,738
2020-04-24$22.20$25.0068.5%20.6%63.8%37.8%70.6%17.2%-1.3%-6.0M1.11B-3.1M1.222.97N/AN/A110,152134,605938,885750,824
2020-04-27$23.06$25.0064.5%19.5%63.8%34.6%68.7%16.4%-0.5%-3.6M1.05B-3.6M1.161.91N/AN/A37,59143,7141,005,231804,623
2020-04-28$24.57$25.0061.0%18.1%67.8%31.8%66.0%16.3%-0.2%-363.6K929.4M-4.2M0.561.96N/AN/A57,40231,9081,005,489819,290
2020-04-29$25.98$25.0055.5%16.1%69.8%27.4%61.5%16.3%0.2%8.7M717.5M-4.7M0.392.39N/AN/A43,69117,0791,045,581827,647
2020-04-30$24.77$25.0058.9%17.5%69.5%30.1%64.8%16.5%0.1%7.1M875.0M-4.3M1.601.94N/AN/A26,59242,6541,068,337832,956