EWZ Options History — May 2020

In May 2020, EWZ traded between $21.93 and $27.70. ATM implied volatility averaged 55.3%, placing in the 27.3% IV rank vs the trailing year. The 30-day expected move averaged 16.0%. IV traded below realized volatility by 5.6% (HV 20d: 60.9%). Max pain ranged from $25.00 to $35.00. Net GEX was positive for 8 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.83.

Notable Days

  • 2020-05-26: Highest Volume — 220,134 contracts
  • 2020-05-18: Largest IV drop — 9.5% change
  • 2020-05-01: Highest IV Rank — 34.0%
  • 2020-05-01: Largest Expected Move — 19.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.05$21.93$27.70$23.76$27.12
Max Pain$32.30$25.00$35.00$25.00$30.00
ATM IV55.3%45.6%63.7%63.7%45.6%
Expected Move16.0%13.3%19.5%19.5%13.3%
HV 20d60.9%53.3%70.8%70.8%53.3%
HV 60d99.7%98.3%102.2%98.4%102.2%
IV Rank27.3%19.6%34.0%34.0%19.6%
IV Percentile82.3%76.6%87.3%87.3%76.6%
Term Structure-0.4%-3.9%1.7%-0.1%-0.9%
VWIV55.1%47.2%68.5%68.5%47.8%
Skew 25d15.8%12.5%18.7%18.6%12.5%
Skew 10d29.0%21.8%36.8%34.8%23.8%
Call IV 25d47.9%40.6%56.2%56.2%41.2%
Put IV 25d63.6%53.7%74.9%74.9%53.7%
Bid-Ask Spread %2.621.645.821.711.82
Gamma HHI0.110.060.260.080.26
Net GEX5.6M-12.3M39.3M-3.5M19.5M
Net DEX862.1M11.4M1.23B1.04B216.5M
Net VEX-4.0M-5.6M-3.1M-3.9M-5.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.161.920.951.24
Total Volume104,118.228,507220,13436,462115,088
Total OI1,997,452.81,791,8422,258,3021,909,1302,258,302

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-05-01$23.76$25.0063.7%19.5%70.8%34.0%68.5%18.6%-0.1%-3.5M1.04B-3.9M0.951.71N/AN/A18,73817,7241,062,438846,692
2020-05-04$23.80$35.0062.3%17.8%66.8%32.8%64.6%17.9%-0.6%-2.9M1.02B-3.8M0.962.98N/AN/A34,58733,1001,027,485803,386
2020-05-05$23.69$35.0060.9%17.2%62.3%31.8%57.4%16.9%1.2%-6.5M1.06B-3.7M0.354.74N/AN/A55,61019,3801,006,086831,879
2020-05-06$23.13$35.0062.5%18.0%58.5%33.0%61.5%17.9%-0.4%-7.7M1.11B-3.5M1.045.66N/AN/A23,80824,7331,048,820842,021
2020-05-07$22.48$35.0062.8%18.5%57.1%33.3%60.8%18.0%0.2%-11.7M1.17B-3.3M1.425.82N/AN/A40,70957,7331,050,371850,158
2020-05-08$23.41$34.0057.3%17.3%59.4%28.9%54.7%15.8%0.9%-2.6M1.08B-3.6M1.925.01N/AN/A30,92659,4531,075,834875,332
2020-05-11$22.63$34.0061.2%17.1%60.3%31.9%55.8%16.2%-1.6%-7.9M1.16B-3.3M1.171.73N/AN/A18,17021,3051,053,829853,063
2020-05-12$22.21$34.0061.1%17.9%59.7%31.8%60.1%17.7%1.7%-10.3M1.20B-3.1M1.302.03N/AN/A32,04541,5811,056,981863,803
2020-05-13$21.93$34.0061.8%17.8%59.5%32.5%61.2%18.7%-0.1%-12.3M1.23B-3.1M1.521.71N/AN/A11,31317,1941,071,936883,740
2020-05-14$22.48$34.0059.1%17.1%60.4%30.3%59.7%16.6%0.8%-11.5M1.17B-3.2M1.001.64N/AN/A58,55758,6701,076,332876,957
2020-05-15$22.24$34.0057.0%16.4%60.2%28.6%56.1%15.3%0.7%-5.5M1.16B-3.3M1.091.65N/AN/A28,40230,9261,123,435905,820
2020-05-18$23.73$33.0051.6%14.8%65.2%24.3%52.4%15.0%-0.2%-1.8M983.5M-3.7M0.232.07N/AN/A80,81118,350995,272796,570
2020-05-19$23.57$32.0051.6%14.8%64.6%24.4%47.9%14.7%0.4%5.0M956.3M-3.7M0.182.19N/AN/A161,13029,3941,054,239805,548
2020-05-20$23.95$32.0047.6%13.6%64.0%21.1%48.1%15.4%0.6%18.4M872.4M-3.9M0.161.91N/AN/A91,30014,4451,201,176828,267
2020-05-21$24.80$30.0046.9%13.4%64.5%20.6%48.8%13.2%0.5%35.1M633.3M-4.4M0.522.00N/AN/A129,02667,4701,278,065833,910
2020-05-22$24.55$30.0051.1%14.8%55.6%23.9%50.9%14.1%-1.4%39.3M670.6M-4.5M0.591.98N/AN/A90,91453,8061,343,902874,343
2020-05-26$26.68$30.0047.7%13.7%61.2%21.2%47.2%13.0%-2.8%34.7M206.9M-5.1M0.281.91N/AN/A171,86148,2731,316,074868,952
2020-05-27$27.70$30.0047.0%13.6%58.7%20.7%50.1%13.6%-3.9%23.5M11.4M-5.5M0.292.05N/AN/A140,64940,5141,327,105895,305
2020-05-28$27.11$30.0047.5%13.9%56.4%21.1%48.2%14.0%-2.5%20.5M293.0M-5.4M0.311.87N/AN/A72,46622,2031,268,101917,527
2020-05-29$27.12$30.0045.6%13.3%53.3%19.6%47.8%12.5%-0.9%19.5M216.5M-5.6M1.241.82N/AN/A51,49263,5961,329,822928,480