EWZ Options History — December 2022

In December 2022, EWZ traded between $26.34 and $31.30. ATM implied volatility averaged 41.1%, placing in the 38.5% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded below realized volatility by 1.9% (HV 20d: 43.0%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 8 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 1.14.

Notable Days

2022-12-12: Highest Volume — 348,088 contracts
2022-12-28: Largest IV spike — 49.3% change
2022-12-14: Highest IV Rank — 100.0%
2022-12-02: Largest Expected Move — 15.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.61	$26.34	$31.30	$31.26	$27.93
Max Pain	$32.33	$30.00	$35.00	$30.00	$30.00
ATM IV	41.1%	32.2%	64.3%	42.1%	38.2%
Expected Move	11.2%	9.1%	15.8%	15.5%	10.9%
HV 20d	43.0%	31.3%	46.9%	46.4%	44.3%
HV 60d	47.0%	44.0%	49.2%	47.1%	44.0%
IV Rank	38.5%	13.6%	100.0%	46.3%	28.0%
IV Percentile	61.4%	19.0%	100.0%	71.4%	54.8%
Term Structure	0.4%	-23.1%	20.1%	-2.5%	1.3%
VWIV	38.7%	22.4%	50.4%	49.3%	38.1%
Skew 25d	0.7%	-49.7%	5.4%	5.4%	2.9%
Skew 10d	1.8%	-40.5%	8.2%	4.3%	5.0%
Call IV 25d	38.5%	34.5%	55.5%	38.3%	36.8%
Put IV 25d	39.2%	5.8%	45.3%	43.7%	39.7%
Bid-Ask Spread %	15.89	3.05	38.22	33.58	7.64
Gamma HHI	0.11	0.07	0.23	0.09	0.08
Net GEX	-6.3M	-47.2M	49.5M	49.5M	4.4M
Net DEX	983.2M	284.5M	2.21B	284.5M	727.5M
Net VEX	-6.2M	-7.7M	-4.7M	-7.7M	-6.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.14	0.16	3.18	1.47	0.95
Total Volume	127,515	36,697	348,088	111,210	36,697
Total OI	3,201,315.381	2,591,266	3,609,312	3,536,955	3,033,184

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
2022-12-01	$31.26	$30.00	42.1%	15.5%	46.4%	46.3%	49.3%	5.4%	-2.5%	49.5M	284.5M	-7.7M	1.47	33.58	N/A	N/A	45,047	66,163	2,013,887	1,523,068
2022-12-02	$31.30	$30.00	40.5%	15.8%	44.9%	40.8%	50.4%	4.9%	-2.2%	49.4M	290.6M	-7.7M	0.59	34.75	N/A	N/A	73,083	42,774	2,022,189	1,551,085
2022-12-05	$30.21	$35.00	41.9%	10.8%	45.0%	45.4%	37.4%	4.1%	-0.6%	15.7M	870.0M	-6.7M	1.63	22.36	N/A	N/A	19,319	31,563	2,019,693	1,485,955
2022-12-06	$30.66	$35.00	39.8%	10.7%	42.5%	38.7%	35.2%	3.7%	-1.1%	25.7M	670.5M	-6.8M	3.18	32.99	N/A	N/A	21,283	67,724	2,026,197	1,496,824
2022-12-07	$30.55	$35.00	38.8%	10.6%	42.2%	35.3%	37.2%	3.8%	-0.0%	19.0M	749.2M	-6.9M	2.73	23.11	N/A	N/A	23,123	63,049	2,034,296	1,530,861
2022-12-08	$30.01	$35.00	37.0%	10.3%	40.6%	29.2%	36.6%	2.7%	-0.2%	-4.8M	1.08B	-6.3M	0.81	28.59	N/A	N/A	74,424	60,222	2,047,329	1,538,633
2022-12-09	$29.96	$35.00	32.2%	10.1%	32.7%	13.6%	38.2%	1.4%	-0.6%	-31.1M	1.14B	-6.1M	0.95	20.87	N/A	N/A	74,975	70,874	2,058,193	1,551,119
2022-12-12	$29.16	$35.00	37.0%	10.5%	31.3%	29.3%	38.2%	0.6%	-0.6%	-33.1M	1.38B	-5.4M	0.48	38.22	N/A	N/A	235,291	112,797	2,009,037	1,524,216
2022-12-13	$26.55	$35.00	45.2%	12.6%	44.2%	56.4%	44.5%	2.1%	-1.9%	-41.2M	2.21B	-5.8M	1.40	11.55	N/A	N/A	63,198	88,673	1,995,360	1,578,469
2022-12-14	$26.59	$33.00	64.3%	12.0%	44.3%	100.0%	40.8%	5.1%	-23.1%	-47.2M	1.84B	-5.7M	1.16	18.93	N/A	N/A	129,702	149,830	2,004,843	1,473,282
2022-12-15	$26.38	$32.00	40.4%	9.1%	42.4%	34.1%	44.8%	1.9%	19.9%	-41.5M	1.64B	-5.3M	0.78	10.74	N/A	N/A	48,283	37,567	2,015,108	1,345,875
2022-12-16	$26.34	$32.00	39.2%	9.2%	42.4%	30.6%	22.4%	4.2%	20.1%	-30.6M	1.68B	-4.7M	0.86	6.74	N/A	N/A	54,742	46,960	2,030,771	1,346,679
2022-12-19	$26.77	$32.00	40.5%	11.5%	43.0%	34.4%	39.1%	3.2%	0.0%	-17.9M	1.14B	-5.4M	0.43	9.23	N/A	N/A	62,212	26,787	1,521,459	1,069,807
2022-12-20	$27.76	$31.00	37.6%	10.8%	44.9%	26.4%	37.1%	3.6%	-0.3%	-8.8M	877.3M	-5.8M	0.48	3.12	N/A	N/A	62,235	29,625	1,565,342	1,068,152
2022-12-21	$28.02	$31.00	37.0%	10.6%	44.6%	24.7%	36.6%	1.3%	-0.9%	-8.5M	747.8M	-5.9M	0.85	6.03	N/A	N/A	26,415	22,370	1,589,522	1,061,391
2022-12-22	$28.11	$31.00	41.1%	10.7%	44.6%	36.0%	37.3%	2.7%	17.1%	-6.3M	733.4M	-6.0M	1.49	6.51	N/A	N/A	29,356	43,778	1,600,473	1,068,167
2022-12-23	$28.81	$31.00	36.5%	10.5%	45.5%	23.2%	36.5%	3.9%	0.2%	305.4K	501.4M	-6.3M	2.21	3.05	N/A	N/A	61,154	135,176	1,621,229	1,106,619
2022-12-27	$27.86	$31.00	38.5%	11.1%	46.9%	28.7%	37.1%	4.0%	1.1%	-28.0M	864.5M	-5.7M	0.16	3.19	N/A	N/A	193,980	30,844	1,597,222	1,172,651
2022-12-28	$28.45	$30.00	57.4%	11.2%	45.7%	81.0%	37.8%	-49.7%	-17.7%	-5.2M	587.0M	-6.1M	0.27	6.48	N/A	N/A	109,935	29,407	1,729,211	1,182,586
2022-12-29	$28.21	$30.00	37.7%	10.9%	44.3%	26.7%	37.5%	3.0%	0.7%	7.1M	627.1M	-6.6M	1.03	5.94	N/A	N/A	38,022	39,156	1,813,339	1,204,300
2022-12-30	$27.93	$30.00	38.2%	10.9%	44.3%	28.0%	38.1%	2.9%	1.3%	4.4M	727.5M	-6.5M	0.95	7.64	N/A	N/A	18,858	17,839	1,821,841	1,211,343