EWZ Options History — July 2020

In July 2020, EWZ traded between $29.60 and $33.41. ATM implied volatility averaged 44.4%, placing in the 18.6% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded above realized volatility by 4.8% (HV 20d: 39.6%). Max pain ranged from $29.00 to $31.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 1.20.

Notable Days

  • 2020-07-01: Highest Volume — 174,339 contracts
  • 2020-07-23: Largest IV spike — 11.6% change
  • 2020-07-02: Highest IV Rank — 25.0%
  • 2020-07-02: Largest Expected Move — 15.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.55$29.60$33.41$29.77$32.45
Max Pain$30.32$29.00$31.00$29.00$31.00
ATM IV44.4%39.1%52.4%50.3%42.8%
Expected Move12.8%11.3%15.3%14.4%12.7%
HV 20d39.6%28.4%56.5%56.5%30.5%
HV 60d53.7%48.3%57.7%57.7%48.4%
IV Rank18.6%14.4%25.0%23.3%17.4%
IV Percentile66.1%60.7%75.4%73.8%62.7%
Term Structure-0.1%-0.7%1.4%0.2%-0.5%
VWIV45.9%38.3%54.2%52.2%45.8%
Skew 25d12.4%10.7%14.3%14.2%12.7%
Skew 10d23.6%20.7%27.4%26.8%24.2%
Call IV 25d38.9%34.4%45.7%44.3%37.6%
Put IV 25d51.2%45.2%60.0%58.5%50.3%
Bid-Ask Spread %2.421.794.532.211.96
Gamma HHI0.070.060.100.070.07
Net GEX18.4M9.5M32.3M16.1M11.7M
Net DEX-310.0M-664.0M52.7M28.7M-290.1M
Net VEX-9.2M-9.9M-8.5M-8.5M-9.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.200.473.030.490.82
Total Volume81,807.81827,116174,339174,339134,434
Total OI2,003,620.1361,784,3912,170,7341,784,3912,068,037

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$29.77$29.0050.3%14.4%56.5%23.3%52.2%14.2%0.2%16.1M28.7M-8.5M0.492.21N/AN/A117,12757,212924,192860,199
2020-07-02$29.60$29.0052.4%15.3%56.5%25.0%53.9%14.3%-0.1%11.6M22.2M-8.7M1.722.06N/AN/A39,51767,9041,004,212901,070
2020-07-06$30.37$30.0049.3%14.2%54.9%22.5%54.2%13.4%-0.7%14.6M-136.2M-8.8M0.862.12N/AN/A78,89067,967993,179922,245
2020-07-07$29.74$30.0051.3%14.1%51.9%24.1%50.3%13.4%-0.5%9.5M52.7M-8.7M1.472.01N/AN/A22,83733,6611,036,606957,305
2020-07-08$30.63$30.0048.2%13.4%53.3%21.6%48.7%13.2%-0.5%17.6M-223.3M-9.0M1.281.79N/AN/A37,92348,5771,044,049966,632
2020-07-09$30.48$30.0047.1%13.7%52.4%20.8%45.9%12.5%-0.2%16.2M-170.8M-9.0M1.741.99N/AN/A15,30226,5971,058,303998,568
2020-07-10$30.76$30.0044.3%12.7%40.2%18.6%47.2%11.4%-0.3%24.6M-258.9M-9.0M0.912.27N/AN/A38,26635,0101,061,7031,010,394
2020-07-13$30.26$30.0045.8%13.5%37.8%19.7%45.2%12.3%1.4%16.7M-77.5M-8.5M1.073.81N/AN/A29,98432,1871,061,844983,316
2020-07-14$30.79$30.0045.4%13.1%36.3%19.5%46.0%12.6%0.5%22.8M-257.2M-8.8M0.822.87N/AN/A49,90340,8761,072,7171,002,158
2020-07-15$31.08$30.0043.9%12.6%36.3%18.2%42.8%12.0%0.3%32.3M-387.8M-8.7M0.772.23N/AN/A75,29158,1881,103,7761,020,104
2020-07-16$30.88$30.0042.3%12.1%36.0%16.9%44.3%11.8%-0.2%27.0M-270.4M-8.7M1.291.93N/AN/A11,86015,2561,118,7781,051,956
2020-07-17$31.30$30.0040.7%11.9%35.4%15.7%38.9%11.6%1.3%14.8M-483.5M-8.7M1.231.85N/AN/A52,86564,8401,116,4491,053,715
2020-07-20$32.00$30.0039.4%11.3%35.7%14.7%39.9%10.9%0.1%17.2M-259.6M-9.0M0.892.23N/AN/A47,59542,338929,829902,159
2020-07-21$32.84$31.0039.1%11.3%36.4%14.4%40.1%10.7%-0.3%21.9M-522.4M-9.5M0.903.54N/AN/A48,92343,825956,648924,201
2020-07-22$33.41$31.0039.9%11.4%35.7%15.0%38.3%10.7%-0.0%20.6M-664.0M-9.8M0.474.53N/AN/A61,85029,277966,023954,868
2020-07-23$32.19$31.0044.5%12.8%34.3%18.7%46.0%13.4%-0.6%15.4M-288.6M-9.7M3.032.57N/AN/A19,59659,353995,669973,848
2020-07-24$32.31$31.0043.4%12.5%34.2%17.8%45.6%12.2%-0.7%13.8M-308.7M-9.8M1.522.08N/AN/A18,65728,4081,005,7821,007,381
2020-07-27$33.24$31.0042.3%12.2%29.8%16.9%44.8%12.2%-0.6%20.0M-566.7M-9.9M1.222.05N/AN/A17,45721,2761,002,273993,620
2020-07-28$33.17$31.0042.8%12.5%29.6%17.4%48.9%12.3%-0.2%19.2M-537.3M-9.8M1.042.10N/AN/A15,47116,1471,004,7481,003,188
2020-07-29$33.41$31.0040.3%11.9%29.5%15.4%46.6%12.4%0.0%20.3M-606.7M-9.8M2.032.72N/AN/A11,48823,3391,009,7111,013,337
2020-07-30$33.35$31.0040.9%11.9%28.4%15.8%44.9%12.0%-0.4%22.0M-615.1M-9.8M0.882.39N/AN/A22,50819,7901,023,9311,020,920
2020-07-31$32.45$31.0042.8%12.7%30.5%17.4%45.8%12.7%-0.5%11.7M-290.1M-9.6M0.821.96N/AN/A73,81360,6211,025,6891,042,348