EWZ Options History — April 2022

In April 2022, EWZ traded between $32.62 and $39.54. ATM implied volatility averaged 32.4%, placing in the 23.2% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 4.8% (HV 20d: 27.6%). Max pain ranged from $36.00 to $38.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 1.09.

Notable Days

2022-04-22: Highest Volume — 517,090 contracts
2022-04-21: Largest IV spike — 10.8% change
2022-04-26: Highest IV Rank — 61.9%
2022-04-26: Largest Expected Move — 12.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$36.48	$32.62	$39.54	$39.00	$32.95
Max Pain	$37.00	$36.00	$38.00	$36.00	$37.00
ATM IV	32.4%	28.1%	41.3%	28.1%	38.7%
Expected Move	9.4%	8.2%	12.1%	8.4%	11.3%
HV 20d	27.6%	21.9%	31.9%	31.6%	29.8%
HV 60d	27.3%	25.8%	29.0%	27.1%	28.9%
IV Rank	23.2%	4.2%	61.9%	4.2%	50.6%
IV Percentile	36.8%	2.8%	93.3%	2.8%	88.5%
Term Structure	-0.1%	-1.0%	2.0%	2.0%	-0.9%
VWIV	32.7%	27.4%	40.8%	29.4%	39.8%
Skew 25d	5.9%	4.1%	10.0%	4.1%	7.1%
Skew 10d	11.2%	7.8%	19.4%	8.8%	13.1%
Call IV 25d	30.0%	26.3%	37.8%	26.3%	35.7%
Put IV 25d	35.9%	30.4%	47.8%	30.4%	42.9%
Bid-Ask Spread %	21.75	6.50	53.00	50.12	13.32
Gamma HHI	0.10	0.07	0.16	0.12	0.07
Net GEX	26.2M	-26.5M	73.8M	73.8M	-21.2M
Net DEX	-554.3M	-2.51B	1.44B	-2.38B	1.41B
Net VEX	-11.4M	-11.8M	-10.9M	-11.3M	-11.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.09	0.36	5.47	0.72	0.41
Total Volume	248,872.7	121,417	517,090	227,604	266,318
Total OI	2,511,230.6	2,231,027	2,807,513	2,401,100	2,807,513

Daily Data (20 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
2022-04-01	$39.00	$36.00	28.1%	8.4%	31.6%	4.2%	29.4%	4.1%	2.0%	73.8M	-2.38B	-11.3M	0.72	50.12	N/A	N/A	132,315	95,289	1,245,089	1,156,011
2022-04-04	$39.54	$36.00	28.6%	8.2%	28.7%	6.6%	28.6%	4.1%	0.1%	70.9M	-2.51B	-11.0M	0.36	23.20	N/A	N/A	280,194	100,393	1,232,633	1,175,185
2022-04-05	$38.39	$36.00	30.6%	9.1%	31.8%	15.1%	31.5%	5.1%	-0.0%	59.9M	-1.89B	-11.7M	1.28	19.94	N/A	N/A	76,038	96,987	1,228,671	1,205,573
2022-04-06	$37.67	$36.00	32.3%	9.1%	31.9%	22.8%	31.1%	5.0%	-0.4%	48.1M	-1.51B	-11.6M	0.79	17.24	N/A	N/A	173,311	136,745	1,235,957	1,236,116
2022-04-07	$37.96	$37.00	30.7%	8.9%	31.8%	15.8%	28.8%	5.2%	-0.0%	48.7M	-1.58B	-11.6M	0.88	15.42	N/A	N/A	113,452	99,758	1,251,555	1,295,385
2022-04-08	$37.92	$37.00	30.0%	8.7%	30.1%	12.6%	30.0%	5.0%	-0.2%	48.5M	-1.56B	-11.5M	0.63	12.60	N/A	N/A	156,346	98,552	1,278,262	1,302,153
2022-04-11	$37.66	$38.00	31.8%	8.9%	28.1%	20.4%	29.5%	5.3%	-0.8%	63.5M	-1.45B	-11.8M	1.14	53.00	N/A	N/A	114,220	130,758	1,340,595	1,319,224
2022-04-12	$37.59	$38.00	31.0%	8.8%	26.4%	17.1%	30.6%	5.2%	-0.6%	52.5M	-1.36B	-11.5M	0.95	16.34	N/A	N/A	111,057	105,763	1,333,436	1,337,863
2022-04-13	$37.62	$38.00	29.3%	8.4%	25.8%	9.5%	31.0%	4.8%	-0.1%	54.4M	-1.23B	-11.4M	0.67	12.52	N/A	N/A	146,476	98,756	1,323,168	1,358,046
2022-04-14	$37.24	$38.00	29.2%	8.5%	24.1%	9.0%	29.2%	4.8%	0.7%	30.1M	-1.00B	-11.2M	0.97	11.97	N/A	N/A	175,533	169,466	1,326,054	1,375,773
2022-04-18	$37.43	$37.00	28.9%	8.3%	23.4%	8.0%	28.3%	5.4%	0.1%	32.7M	-623.8M	-11.5M	0.71	36.41	N/A	N/A	89,055	62,841	1,149,129	1,081,898
2022-04-19	$37.16	$37.00	28.4%	8.2%	22.1%	5.6%	27.4%	4.8%	0.6%	28.2M	-495.1M	-11.5M	0.62	10.09	N/A	N/A	91,366	56,600	1,194,062	1,102,751
2022-04-20	$37.24	$37.00	29.0%	8.3%	21.9%	8.3%	28.2%	4.3%	0.5%	33.5M	-495.6M	-11.8M	0.57	14.64	N/A	N/A	115,602	66,369	1,198,059	1,110,409
2022-04-21	$36.09	$37.00	32.1%	9.2%	24.0%	22.0%	34.2%	6.0%	0.6%	-2.8M	21.9M	-11.8M	1.51	19.42	N/A	N/A	60,269	90,754	1,263,666	1,133,032
2022-04-22	$34.85	$37.00	35.4%	10.1%	26.2%	36.1%	38.2%	7.3%	0.2%	-496.9K	625.5M	-11.3M	5.47	34.45	N/A	N/A	79,888	437,202	1,274,085	1,176,624
2022-04-25	$34.17	$37.00	38.0%	11.0%	25.8%	47.6%	39.9%	8.9%	-0.5%	-25.4M	944.2M	-11.7M	0.52	14.86	N/A	N/A	238,578	124,743	1,161,703	1,277,747
2022-04-26	$32.62	$37.00	41.3%	12.1%	29.7%	61.9%	40.2%	10.0%	-1.0%	-23.1M	1.44B	-10.9M	1.28	14.80	N/A	N/A	79,286	101,847	1,263,279	1,285,295
2022-04-27	$33.12	$37.00	38.8%	11.3%	29.5%	50.9%	40.8%	8.6%	-0.9%	-26.5M	1.34B	-11.0M	1.62	6.50	N/A	N/A	46,270	75,147	1,272,949	1,307,798
2022-04-28	$33.46	$37.00	36.2%	10.4%	30.0%	39.9%	36.5%	6.8%	-1.0%	-22.1M	1.22B	-11.0M	0.75	38.09	N/A	N/A	161,883	122,027	1,295,748	1,312,116
2022-04-29	$32.95	$37.00	38.7%	11.3%	29.8%	50.6%	39.8%	7.1%	-0.9%	-21.2M	1.41B	-11.3M	0.41	13.32	N/A	N/A	189,161	77,157	1,411,934	1,395,579