EWZ Options History — February 2023

In February 2023, EWZ traded between $27.55 and $30.05. ATM implied volatility averaged 33.6%, placing in the 15.2% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 7.9% (HV 20d: 25.6%). Max pain ranged from $29.00 to $30.00. Net GEX was positive for 7 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 2.40.

Notable Days

  • 2023-02-22: Highest Volume — 310,603 contracts
  • 2023-02-21: Largest IV spike — 6.8% change
  • 2023-02-21: Highest IV Rank — 18.3%
  • 2023-02-09: Largest Expected Move — 10.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$28.41$27.55$30.05$30.05$27.55
Max Pain$29.05$29.00$30.00$29.00$29.00
ATM IV33.6%32.1%34.7%32.4%33.6%
Expected Move9.6%9.1%10.2%9.8%9.5%
HV 20d25.6%24.2%27.5%25.6%25.4%
HV 60d38.7%36.7%42.5%42.5%36.7%
IV Rank15.2%11.1%18.3%11.9%15.4%
IV Percentile19.4%11.9%26.2%17.1%18.7%
Term Structure0.5%-0.7%5.8%0.1%-0.3%
VWIV33.9%31.8%36.6%34.4%34.3%
Skew 25d3.7%2.5%5.1%3.1%4.0%
Skew 10d6.7%4.4%9.8%7.7%6.5%
Call IV 25d32.0%31.1%33.4%31.7%31.7%
Put IV 25d35.6%33.6%37.7%34.9%35.7%
Bid-Ask Spread %10.202.4725.0223.5010.52
Gamma HHI0.100.060.260.150.11
Net GEX-7.8M-48.2M38.9M38.9M-40.6M
Net DEX655.1M-72.6M1.01B-72.6M1.01B
Net VEX-6.7M-7.3M-6.4M-7.3M-6.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.400.197.130.822.83
Total Volume138,140.47441,148310,603128,629149,914
Total OI2,291,576.8952,025,7432,510,8292,025,7432,498,551

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$30.05$29.0032.4%9.8%25.6%11.9%34.4%3.1%0.1%38.9M-72.6M-7.3M0.8223.50N/AN/A70,81857,8111,000,6121,025,131
2023-02-02$29.41$30.0033.7%9.9%27.4%15.5%33.7%3.9%-0.4%22.2M165.8M-7.2M0.4220.31N/AN/A98,05040,7611,067,9661,040,010
2023-02-03$28.62$29.0034.0%9.8%27.5%16.3%33.9%4.8%-0.2%-48.2M483.3M-6.9M1.3820.78N/AN/A105,359145,7431,095,6851,091,032
2023-02-06$28.52$29.0034.6%9.7%24.3%18.0%34.9%5.1%-0.7%-2.4M606.9M-6.9M1.4324.67N/AN/A27,88139,9451,040,8741,116,750
2023-02-07$28.05$29.0033.7%9.8%25.0%15.7%33.4%4.0%0.6%-11.1M786.4M-6.7M0.193.17N/AN/A59,21610,9861,067,6811,147,030
2023-02-08$28.55$29.0033.4%9.4%24.2%14.6%35.0%3.5%-0.7%-3.2M604.6M-6.8M2.042.67N/AN/A34,85871,1931,061,7941,146,378
2023-02-09$27.77$29.0034.7%10.2%24.7%18.3%36.6%4.4%0.9%-14.3M869.3M-6.5M2.7821.14N/AN/A33,90794,1891,071,2841,143,634
2023-02-10$28.14$29.0034.0%9.9%25.2%16.5%36.0%3.5%0.6%-9.0M786.2M-6.7M0.852.47N/AN/A62,91353,7221,090,3511,195,030
2023-02-13$28.54$29.0034.3%9.8%25.9%17.2%34.6%4.1%0.9%5.9M595.3M-6.8M0.6725.02N/AN/A24,60416,5441,118,5711,200,662
2023-02-14$28.34$29.0033.2%9.5%25.9%14.1%34.7%3.1%5.8%2.4M689.5M-6.6M2.873.02N/AN/A26,30375,5021,132,5031,214,568
2023-02-15$28.46$29.0032.8%9.4%25.9%13.2%33.0%2.9%0.3%7.3M630.4M-6.5M3.382.77N/AN/A32,206108,7471,156,1351,226,567
2023-02-16$28.66$29.0032.1%9.1%26.1%11.1%32.0%2.5%1.7%17.3M558.2M-6.6M0.573.02N/AN/A133,13875,9081,176,2521,225,872
2023-02-17$28.73$29.0032.5%9.3%25.8%12.1%33.1%2.8%0.3%6.8M550.1M-6.8M1.292.70N/AN/A30,15539,0281,226,2681,252,976
2023-02-21$28.30$29.0034.7%9.8%26.3%18.3%33.6%3.3%-0.4%-3.5M708.5M-6.5M4.9015.20N/AN/A12,31060,3511,042,4961,122,138
2023-02-22$28.14$29.0034.5%9.6%25.5%17.8%33.6%3.8%-0.3%-9.2M830.7M-6.6M7.133.43N/AN/A38,211272,3921,047,4741,184,499
2023-02-23$28.59$29.0033.0%9.3%24.2%13.7%32.9%3.6%0.1%-14.6M631.8M-6.7M6.172.89N/AN/A21,371131,8061,071,9611,310,782
2023-02-24$27.66$29.0033.3%9.4%26.3%14.4%33.0%4.0%0.6%-44.8M1.01B-6.4M2.452.97N/AN/A71,788175,8961,084,2631,335,352
2023-02-27$27.69$29.0033.3%9.4%25.4%14.3%31.8%3.4%-0.2%-47.4M1.00B-6.7M3.343.55N/AN/A27,89593,2481,088,7461,422,083
2023-02-28$27.55$29.0033.6%9.5%25.4%15.4%34.3%4.0%-0.3%-40.6M1.01B-6.6M2.8310.52N/AN/A39,110110,8041,103,4061,395,145