EWZ Options History — November 2021

In November 2021, EWZ traded between $29.06 and $31.41. ATM implied volatility averaged 42.3%, placing in the 66.5% IV rank vs the trailing year. The 30-day expected move averaged 13.5%. IV traded above realized volatility by 4.7% (HV 20d: 37.6%). Max pain ranged from $34.00 to $37.00. Net GEX was positive for 6 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 1.42.

Notable Days

2021-11-11: Highest Volume — 613,415 contracts
2021-11-15: Largest IV spike — 12.2% change
2021-11-26: Highest IV Rank — 100.0%
2021-11-30: Largest Expected Move — 15.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.85	$29.06	$31.41	$29.80	$29.06
Max Pain	$35.52	$34.00	$37.00	$34.00	$35.00
ATM IV	42.3%	36.3%	50.0%	37.1%	44.1%
Expected Move	13.5%	10.8%	15.7%	10.9%	15.7%
HV 20d	37.6%	30.3%	43.7%	36.0%	30.3%
HV 60d	35.7%	34.1%	36.8%	34.1%	35.2%
IV Rank	66.5%	37.6%	100.0%	37.6%	74.2%
IV Percentile	80.5%	53.2%	100.0%	63.1%	90.5%
Term Structure	0.5%	-4.1%	9.6%	0.4%	-1.8%
VWIV	45.5%	37.6%	53.4%	38.5%	53.4%
Skew 25d	4.3%	3.2%	5.5%	5.5%	5.2%
Skew 10d	6.4%	3.5%	9.3%	8.9%	6.6%
Call IV 25d	38.7%	34.2%	44.9%	35.5%	39.3%
Put IV 25d	43.0%	37.7%	49.1%	40.9%	44.5%
Bid-Ask Spread %	31.51	3.50	61.81	3.63	55.73
Gamma HHI	0.10	0.07	0.24	0.08	0.11
Net GEX	-11.0M	-48.2M	33.1M	-15.5M	19.5M
Net DEX	2.10B	1.55B	2.67B	1.98B	1.94B
Net VEX	-6.9M	-7.8M	-6.3M	-6.9M	-6.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.42	0.47	3.23	1.04	0.47
Total Volume	316,569.048	177,837	613,415	232,920	348,494
Total OI	3,416,566.619	2,952,865	3,747,796	2,952,865	3,506,119

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2021-11-01	$29.80	$34.00	37.1%	10.9%	36.0%	37.6%	38.5%	5.5%	0.4%	-15.5M	1.98B	-6.9M	1.04	3.63	N/A	N/A	114,365	118,555	1,601,469	1,351,396
2021-11-02	$29.18	$34.00	37.8%	11.2%	36.5%	43.3%	39.6%	5.5%	0.6%	-23.0M	2.25B	-6.4M	1.35	3.50	N/A	N/A	75,733	102,104	1,661,381	1,393,996
2021-11-03	$30.17	$34.00	36.4%	10.8%	38.9%	41.0%	37.6%	4.3%	0.6%	-7.9M	1.98B	-7.1M	0.81	4.90	N/A	N/A	133,900	107,913	1,688,130	1,418,833
2021-11-04	$29.18	$37.00	36.6%	13.2%	40.4%	41.9%	46.0%	4.3%	0.6%	-24.4M	2.42B	-6.5M	1.15	58.72	N/A	N/A	163,976	188,463	1,767,673	1,473,182
2021-11-05	$30.03	$37.00	36.5%	13.1%	41.5%	41.8%	45.7%	4.4%	0.7%	-9.5M	2.12B	-7.0M	1.55	51.47	N/A	N/A	116,271	179,712	1,783,208	1,480,915
2021-11-08	$29.86	$37.00	37.2%	13.4%	41.5%	44.9%	41.8%	4.3%	7.5%	-12.6M	2.17B	-6.8M	0.98	46.10	N/A	N/A	265,400	260,336	1,718,382	1,458,446
2021-11-09	$30.48	$36.00	36.9%	13.4%	42.4%	43.5%	42.5%	4.5%	9.6%	11.4M	1.91B	-7.3M	0.96	8.02	N/A	N/A	186,829	178,890	1,802,388	1,511,069
2021-11-10	$30.38	$36.00	36.3%	13.3%	41.7%	40.9%	43.3%	3.4%	8.9%	17.5M	1.96B	-7.1M	1.21	6.89	N/A	N/A	186,310	225,280	1,896,114	1,532,692
2021-11-11	$31.41	$36.00	38.0%	13.1%	43.7%	48.2%	42.2%	3.4%	8.2%	33.1M	1.55B	-7.7M	1.17	6.59	N/A	N/A	282,371	331,044	1,832,510	1,523,172
2021-11-12	$30.90	$36.00	39.3%	13.1%	42.9%	54.1%	42.7%	4.0%	8.1%	-22.6M	1.99B	-7.8M	1.35	6.72	N/A	N/A	128,857	173,712	1,989,585	1,678,696
2021-11-15	$30.85	$36.00	44.1%	13.3%	42.8%	75.4%	42.9%	4.3%	-2.8%	-15.7M	1.95B	-7.5M	3.23	8.71	N/A	N/A	48,502	156,601	1,979,933	1,620,501
2021-11-16	$30.21	$36.00	45.8%	13.4%	39.9%	82.6%	44.4%	3.9%	-3.7%	-35.6M	2.26B	-7.0M	1.99	58.37	N/A	N/A	110,215	219,525	1,984,389	1,621,268
2021-11-17	$29.66	$35.00	48.0%	13.8%	39.9%	92.5%	53.4%	3.2%	-2.8%	-48.2M	2.50B	-6.8M	3.11	54.53	N/A	N/A	93,594	290,972	2,044,585	1,652,557
2021-11-18	$29.17	$36.00	47.9%	13.9%	35.5%	92.2%	46.3%	3.5%	-4.1%	-45.5M	2.67B	-6.4M	3.10	61.81	N/A	N/A	71,544	221,641	2,074,432	1,653,679
2021-11-19	$29.24	$36.00	48.3%	14.1%	35.6%	93.8%	45.6%	3.8%	-4.1%	-40.3M	2.66B	-6.4M	0.57	12.10	N/A	N/A	256,748	147,583	2,089,783	1,658,013
2021-11-22	$29.21	$35.00	48.5%	14.6%	32.2%	94.8%	47.5%	5.2%	-3.2%	-7.5M	2.06B	-6.6M	2.36	40.95	N/A	N/A	71,879	169,663	1,950,417	1,421,691
2021-11-23	$29.58	$35.00	47.5%	14.3%	32.1%	90.3%	47.7%	4.1%	-2.8%	-2.9M	1.94B	-6.7M	0.77	31.07	N/A	N/A	103,065	79,527	1,971,703	1,461,286
2021-11-24	$29.84	$35.00	46.9%	14.8%	32.3%	87.5%	47.7%	4.5%	-3.5%	9.1M	1.88B	-6.9M	0.75	37.15	N/A	N/A	128,653	97,121	2,001,442	1,471,647
2021-11-26	$29.39	$35.00	50.0%	15.4%	32.1%	100.0%	53.1%	4.2%	-3.9%	-38.4M	2.09B	-6.6M	0.63	56.53	N/A	N/A	178,927	111,945	2,073,537	1,486,694
2021-11-29	$29.35	$35.00	44.6%	15.1%	30.8%	76.3%	52.9%	4.5%	-1.9%	28.2M	1.84B	-6.4M	1.18	48.27	N/A	N/A	101,550	120,180	2,122,453	1,338,533
2021-11-30	$29.06	$35.00	44.1%	15.7%	30.3%	74.2%	53.4%	5.2%	-1.8%	19.5M	1.94B	-6.3M	0.47	55.73	N/A	N/A	237,219	111,275	2,143,527	1,362,592