EWZ Options History — December 2020

In December 2020, EWZ traded between $34.82 and $37.82. ATM implied volatility averaged 36.8%, placing in the 12.0% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 3.9% (HV 20d: 32.8%). Max pain ranged from $30.00 to $37.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 0.65.

Notable Days

  • 2020-12-11: Highest Volume — 840,159 contracts
  • 2020-12-21: Largest IV spike — 8.3% change
  • 2020-12-22: Highest IV Rank — 13.7%
  • 2020-12-22: Largest Expected Move — 11.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.59$34.82$37.82$34.82$37.00
Max Pain$35.14$30.00$37.00$30.00$37.00
ATM IV36.8%35.2%39.3%35.3%37.1%
Expected Move10.6%10.2%11.3%11.3%10.5%
HV 20d32.8%26.2%36.7%36.6%26.4%
HV 60d33.8%31.7%35.7%35.7%31.7%
IV Rank12.0%10.9%13.7%11.4%11.5%
IV Percentile24.2%19.4%30.2%23.8%24.6%
Term Structure0.5%-0.7%1.6%1.6%0.7%
VWIV37.7%34.6%42.0%42.0%37.5%
Skew 25d5.5%4.2%6.6%5.9%6.3%
Skew 10d10.4%7.5%12.9%10.3%12.9%
Call IV 25d34.7%33.3%37.2%33.8%34.4%
Put IV 25d40.2%37.5%42.8%39.7%40.7%
Bid-Ask Spread %2.582.093.752.922.76
Gamma HHI0.150.120.230.140.14
Net GEX90.6M38.0M152.0M96.3M63.3M
Net DEX-1.39B-2.78B-531.5M-1.64B-786.1M
Net VEX-8.4M-8.7M-7.5M-7.5M-8.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.650.101.211.180.94
Total Volume198,374.63623,082840,159232,24462,824
Total OI2,602,779.1821,936,2143,160,3302,526,4322,352,277

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$34.82$30.0035.3%11.3%36.6%11.4%42.0%5.9%1.6%96.3M-1.64B-7.5M1.182.92N/AN/A106,385125,8591,360,0441,166,388
2020-12-02$34.91$31.0036.2%11.2%36.7%12.1%38.8%5.7%0.9%93.5M-1.66B-7.7M0.222.69N/AN/A247,12653,4121,376,1951,250,824
2020-12-03$35.49$33.0036.5%10.7%36.2%12.4%36.8%4.7%0.4%110.4M-2.05B-8.0M0.373.75N/AN/A264,05597,0541,512,0941,285,569
2020-12-04$36.08$33.0035.4%10.6%33.3%11.5%37.3%4.2%1.6%112.6M-2.35B-8.5M0.422.27N/AN/A196,88783,0621,591,2621,360,771
2020-12-07$35.99$33.0038.2%11.0%32.2%13.7%38.3%4.5%0.1%109.3M-2.05B-8.5M0.873.60N/AN/A132,065114,6661,620,5911,357,819
2020-12-08$36.16$33.0036.5%10.6%31.8%12.4%36.6%4.5%0.6%116.3M-2.12B-8.5M0.902.30N/AN/A94,60285,2601,661,7471,413,821
2020-12-09$35.57$33.0036.8%10.5%32.8%12.6%34.6%4.3%-0.2%101.6M-1.70B-8.5M0.462.31N/AN/A166,18175,9371,711,5671,448,763
2020-12-10$37.43$35.0035.2%10.3%36.3%11.3%35.9%4.3%0.5%139.0M-2.78B-8.4M0.372.20N/AN/A123,59245,3441,631,4181,427,144
2020-12-11$37.16$35.0035.9%10.4%33.1%11.9%35.6%4.3%1.0%130.4M-2.50B-8.3M0.102.17N/AN/A766,23373,9261,622,7121,448,581
2020-12-14$36.34$36.0036.7%10.6%34.5%12.4%38.5%5.1%-0.7%91.0M-675.5M-8.2M0.392.44N/AN/A126,26549,0901,253,7921,379,093
2020-12-15$37.05$36.0036.4%10.5%34.6%11.5%38.9%5.9%0.2%117.2M-1.13B-8.6M0.492.09N/AN/A34,06716,7001,322,6301,412,813
2020-12-16$37.53$36.0036.1%10.3%33.6%11.3%38.0%6.1%0.5%134.7M-1.51B-8.6M0.902.29N/AN/A72,09364,9821,339,6381,425,121
2020-12-17$37.82$36.0037.0%10.6%32.5%12.0%37.3%5.5%0.1%152.0M-1.70B-8.6M0.642.14N/AN/A144,63792,9411,367,1301,458,885
2020-12-18$37.62$37.0036.1%10.2%32.7%11.2%36.0%5.2%1.3%57.1M-1.35B-8.5M0.922.78N/AN/A87,68080,7131,342,7031,488,345
2020-12-21$36.66$37.0039.1%11.2%33.3%13.5%39.7%5.8%-0.0%41.0M-588.4M-8.3M0.662.68N/AN/A33,15921,872994,320941,894
2020-12-22$36.61$37.0039.3%11.3%33.5%13.7%38.2%6.4%-0.3%38.0M-531.5M-8.3M1.062.77N/AN/A35,00837,2851,024,448969,490
2020-12-23$36.77$37.0037.8%10.6%31.9%12.5%39.4%5.8%0.2%45.0M-585.6M-8.4M1.212.41N/AN/A83,395100,9631,053,735995,461
2020-12-24$36.86$37.0036.8%10.3%31.8%11.7%36.9%6.5%0.4%50.1M-649.1M-8.7M0.762.28N/AN/A13,0989,9841,130,0991,059,073
2020-12-28$36.83$37.0037.3%10.5%31.9%11.6%38.1%6.4%0.3%51.1M-607.1M-8.3M0.542.26N/AN/A117,06363,0991,107,4461,030,246
2020-12-29$37.16$37.0036.6%10.4%30.3%11.1%34.9%6.6%0.9%71.1M-843.5M-8.7M0.322.57N/AN/A58,27418,8081,207,8421,061,938
2020-12-30$37.16$37.0036.4%10.4%26.2%10.9%39.2%6.1%0.7%71.9M-861.2M-8.6M0.613.00N/AN/A55,07433,5221,220,5561,074,857
2020-12-31$37.00$37.0037.1%10.5%26.4%11.5%37.5%6.3%0.7%63.3M-786.1M-8.6M0.942.76N/AN/A32,30630,5181,258,7621,093,515