EWZ Options History — March 2021

In March 2021, EWZ traded between $31.12 and $34.23. ATM implied volatility averaged 41.3%, placing in the 6.3% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 1.6% (HV 20d: 39.7%). Max pain ranged from $33.00 to $35.00. Net GEX was positive for 18 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 1.02.

Notable Days

  • 2021-03-03: Highest Volume — 524,491 contracts
  • 2021-03-08: Largest IV spike — 13.5% change
  • 2021-03-08: Highest IV Rank — 13.2%
  • 2021-03-03: Largest Expected Move — 14.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.79$31.12$34.23$32.07$33.48
Max Pain$33.78$33.00$35.00$35.00$34.00
ATM IV41.3%33.9%49.7%45.9%33.9%
Expected Move11.9%9.5%14.8%13.7%9.5%
HV 20d39.7%33.3%46.6%35.9%37.0%
HV 60d35.4%33.4%36.7%33.7%36.7%
IV Rank6.3%0.0%13.2%9.8%0.0%
IV Percentile34.3%0.0%71.4%63.1%0.0%
Term Structure-0.2%-8.0%3.0%0.1%0.2%
VWIV41.8%35.1%55.5%48.5%35.1%
Skew 25d7.5%5.1%10.5%8.4%5.1%
Skew 10d13.6%-7.2%20.8%16.9%10.8%
Call IV 25d38.1%31.6%43.7%42.4%31.6%
Put IV 25d45.6%36.8%54.3%50.8%36.8%
Bid-Ask Spread %4.352.0523.842.795.93
Gamma HHI0.090.050.330.050.09
Net GEX25.2M-12.1M114.3M-12.1M32.9M
Net DEX183.0M-469.8M668.6M572.3M-18.1M
Net VEX-8.0M-8.6M-6.9M-6.9M-8.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.020.154.110.490.67
Total Volume181,413.21728,256524,491195,15389,885
Total OI2,168,532.6091,649,6322,644,4911,879,6771,955,349

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$32.07$35.0045.9%13.7%35.9%9.8%48.5%8.4%0.1%-12.1M572.3M-6.9M0.492.79N/AN/A131,36163,7921,087,255792,422
2021-03-02$32.32$35.0046.8%14.1%34.8%10.6%49.8%8.7%-1.2%-4.4M455.6M-7.3M0.783.40N/AN/A263,572205,6611,163,731815,328
2021-03-03$32.50$34.0048.8%14.8%34.0%12.5%55.5%10.5%2.9%24.0M218.8M-7.9M1.984.88N/AN/A175,743348,7481,357,697860,701
2021-03-04$32.30$33.0046.6%13.3%33.3%10.5%42.8%10.0%-1.6%30.6M214.3M-8.5M0.324.45N/AN/A205,75165,5771,498,7531,029,123
2021-03-05$33.06$33.0043.8%12.5%34.5%8.0%41.9%7.9%-0.9%114.3M-48.1M-8.6M0.653.32N/AN/A91,54559,6871,490,2541,043,025
2021-03-08$31.12$33.0049.7%13.7%38.9%13.2%46.2%9.7%-2.8%-4.2M661.6M-7.7M1.143.41N/AN/A41,77047,7021,422,169927,904
2021-03-09$31.31$33.0045.8%13.3%38.9%9.8%47.2%9.0%0.6%-6.6M668.6M-7.8M1.814.22N/AN/A48,09286,8811,437,609955,937
2021-03-10$32.38$33.0043.4%12.6%41.6%7.6%44.4%8.3%0.6%16.4M331.0M-8.2M0.872.43N/AN/A83,84772,7791,459,590975,768
2021-03-11$33.66$33.0041.1%11.6%44.4%5.6%40.2%7.4%-0.8%57.5M-192.8M-8.6M0.302.33N/AN/A130,35239,3451,448,660976,705
2021-03-12$33.25$33.0040.8%11.6%44.4%5.3%38.3%7.5%-0.3%32.6M31.3M-8.2M0.402.05N/AN/A115,47646,2851,450,951982,632
2021-03-15$32.93$34.0041.3%11.8%44.4%5.8%41.4%7.3%-0.0%24.8M226.3M-8.0M1.412.27N/AN/A11,72716,5291,418,513902,082
2021-03-16$32.94$34.0040.1%11.5%44.2%4.7%43.9%7.0%0.0%30.1M209.1M-7.8M4.112.25N/AN/A24,375100,2061,423,670903,567
2021-03-17$33.84$34.0038.6%11.1%45.6%3.4%38.8%5.9%0.8%59.2M-150.2M-8.2M1.003.48N/AN/A129,614129,1101,435,818979,101
2021-03-18$33.38$34.0040.8%11.7%45.6%5.4%38.5%6.3%-0.6%61.1M67.9M-8.1M0.152.42N/AN/A224,14334,0331,507,3981,049,396
2021-03-19$34.23$34.0039.4%11.2%46.6%4.8%40.5%6.7%0.7%32.7M-469.8M-8.4M0.553.89N/AN/A141,22477,8611,592,3891,052,102
2021-03-22$33.73$34.0037.9%11.2%41.1%3.4%37.0%6.7%3.0%32.7M-118.1M-8.3M0.614.00N/AN/A64,22839,073946,226703,406
2021-03-23$33.24$34.0039.5%11.1%40.4%5.2%38.8%7.4%-8.0%24.4M47.7M-8.2M0.7423.84N/AN/A65,37248,198982,046726,800
2021-03-24$32.39$34.0039.0%11.5%41.1%5.8%38.6%8.3%1.5%7.6M294.9M-7.8M0.314.54N/AN/A146,65145,8711,006,894734,480
2021-03-25$32.48$34.0038.1%11.0%37.6%5.4%41.0%7.1%0.1%5.3M312.8M-7.8M1.513.54N/AN/A30,33345,8641,030,262762,256
2021-03-26$32.34$34.0037.5%10.6%36.3%5.2%38.8%6.7%-0.1%-5.7M377.0M-7.8M1.083.96N/AN/A77,78383,7751,047,269772,909
2021-03-29$32.40$34.0036.4%10.6%36.3%3.1%39.7%5.3%-0.1%6.2M328.9M-7.8M1.324.00N/AN/A64,53285,2021,050,553788,289
2021-03-30$32.81$34.0035.1%10.1%36.4%0.6%35.4%5.6%0.5%20.8M187.3M-8.0M1.152.57N/AN/A33,88039,0691,094,552834,709
2021-03-31$33.48$34.0033.9%9.5%37.0%0.0%35.1%5.1%0.2%32.9M-18.1M-8.1M0.675.93N/AN/A53,68336,2021,097,560857,789