EWZ Options History — January 2023

In January 2023, EWZ traded between $25.91 and $30.54. ATM implied volatility averaged 36.9%, placing in the 24.5% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 7.6% (HV 20d: 44.6%). Max pain ranged from $26.00 to $30.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 1.32.

Notable Days

  • 2023-01-03: Highest Volume — 329,675 contracts
  • 2023-01-09: Largest IV spike — 7.0% change
  • 2023-01-09: Highest IV Rank — 35.4%
  • 2023-01-03: Largest Expected Move — 12.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.04$25.91$30.54$25.91$30.26
Max Pain$28.50$26.00$30.00$30.00$29.00
ATM IV36.9%32.6%40.9%40.8%33.2%
Expected Move10.7%9.6%12.1%12.1%9.9%
HV 20d44.6%38.0%54.8%50.6%38.8%
HV 60d45.9%43.0%47.9%46.5%43.0%
IV Rank24.5%12.5%35.4%35.3%14.2%
IV Percentile41.9%17.5%66.3%65.9%19.4%
Term Structure-0.5%-1.9%0.4%-1.7%-0.3%
VWIV37.9%33.7%41.8%41.8%34.8%
Skew 25d3.3%2.7%3.8%3.1%3.3%
Skew 10d5.9%4.7%6.5%6.4%6.1%
Call IV 25d35.6%31.5%39.2%39.2%32.2%
Put IV 25d38.9%34.5%42.9%42.2%35.5%
Bid-Ask Spread %8.452.2721.106.366.57
Gamma HHI0.100.070.220.120.08
Net GEX18.9M-27.1M54.0M-27.1M19.7M
Net DEX230.6M-144.7M1.24B1.24B-76.6M
Net VEX-6.7M-7.4M-5.1M-5.1M-7.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.320.134.781.270.13
Total Volume150,956.148,062329,675329,675146,658
Total OI2,536,458.251,726,2893,160,5702,677,5251,918,618

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-01-03$25.91$30.0040.8%12.1%50.6%35.3%41.8%3.1%-1.7%-27.1M1.24B-5.1M1.276.36N/AN/A144,951184,7241,569,7411,107,784
2023-01-04$26.30$30.0039.0%11.5%50.3%30.0%40.4%2.7%-0.1%-15.6M1.09B-5.7M4.789.12N/AN/A31,036148,2721,646,8281,186,957
2023-01-05$27.24$28.0039.9%11.5%51.9%32.6%40.1%2.7%-1.9%6.3M710.1M-6.2M0.912.27N/AN/A51,52947,0731,661,8311,176,019
2023-01-06$28.26$26.0038.2%11.2%54.1%28.0%38.6%3.4%-0.2%10.8M331.2M-6.5M1.3720.25N/AN/A49,12667,3271,692,4541,186,074
2023-01-09$28.16$28.0040.9%11.7%53.9%35.4%41.2%3.7%0.2%9.6M520.6M-6.6M0.687.27N/AN/A54,44837,2511,641,3531,156,964
2023-01-10$28.88$28.0039.6%11.2%54.8%31.8%38.7%3.8%-0.7%27.6M216.4M-6.9M1.687.42N/AN/A46,80578,7771,675,4871,177,466
2023-01-11$29.45$28.0039.4%11.3%54.4%31.3%39.8%3.6%-0.0%39.1M-18.4M-7.2M1.533.30N/AN/A78,880120,4721,705,1361,227,242
2023-01-12$29.66$28.0038.6%10.8%41.5%28.9%41.5%3.2%-1.2%49.3M-125.2M-7.2M0.843.07N/AN/A106,05588,6701,734,4711,248,814
2023-01-13$29.55$28.0036.9%10.6%41.6%24.4%37.8%3.6%0.2%37.6M6.1M-7.1M3.1716.21N/AN/A41,008130,0931,694,1941,283,617
2023-01-17$29.63$28.0037.4%10.7%41.4%25.6%37.9%3.7%-0.1%51.6M-68.8M-6.7M0.4221.10N/AN/A77,78332,5921,699,2181,230,811
2023-01-18$29.48$28.0038.1%10.9%41.5%27.7%38.4%3.5%-1.7%45.8M53.8M-6.7M1.252.74N/AN/A97,869122,5461,739,2291,244,076
2023-01-19$29.55$28.0037.1%10.7%41.3%24.8%37.6%3.6%-0.6%54.0M26.8M-6.6M1.288.35N/AN/A120,367154,6241,754,2201,234,530
2023-01-20$29.21$29.0035.9%10.3%39.9%21.5%35.8%3.5%-0.5%5.9M349.7M-6.6M1.042.57N/AN/A60,08062,6951,816,5711,343,999
2023-01-23$29.18$29.0036.0%10.4%39.9%21.9%36.3%2.9%-0.6%-626.4K258.7M-6.8M0.589.95N/AN/A30,59217,886758,061968,228
2023-01-24$29.66$29.0034.3%9.8%40.2%17.3%36.5%2.7%-0.6%5.4M141.8M-6.9M1.6019.48N/AN/A87,544139,908781,138986,631
2023-01-25$30.45$29.0033.8%9.8%40.3%15.9%35.0%2.9%0.4%15.0M-85.2M-7.0M0.4810.44N/AN/A88,67742,935829,724979,254
2023-01-26$30.54$29.0033.1%9.6%38.0%13.9%33.7%2.9%-0.0%19.8M-144.7M-7.4M0.883.16N/AN/A25,62622,436878,6311,006,112
2023-01-27$29.82$29.0032.6%9.6%38.7%12.5%36.2%3.1%0.0%14.3M51.8M-7.2M1.396.81N/AN/A30,69942,803886,4751,022,521
2023-01-30$29.68$29.0034.3%10.0%38.6%17.1%35.4%3.8%-0.1%10.3M132.1M-7.1M1.022.59N/AN/A53,69854,607868,5811,010,105
2023-01-31$30.26$29.0033.2%9.9%38.8%14.2%34.8%3.3%-0.3%19.7M-76.6M-7.3M0.136.57N/AN/A129,86916,789894,9771,023,641