EWZ Options History — April 2023

In April 2023, EWZ traded between $27.09 and $29.36. ATM implied volatility averaged 31.5%, placing in the 8.1% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded above realized volatility by 2.4% (HV 20d: 29.1%). Max pain ranged from $27.00 to $29.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 1.87.

Notable Days

  • 2023-04-04: Highest Volume — 647,597 contracts
  • 2023-04-06: Largest IV drop — 6.6% change
  • 2023-04-03: Highest IV Rank — 17.1%
  • 2023-04-03: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$28.09$27.09$29.36$27.27$28.20
Max Pain$28.68$27.00$29.00$27.00$29.00
ATM IV31.5%29.4%34.2%34.2%29.8%
Expected Move9.0%8.3%9.5%9.5%8.4%
HV 20d29.1%24.3%32.7%29.0%28.6%
HV 60d26.7%24.2%28.1%26.2%27.3%
IV Rank8.1%1.1%17.1%17.1%1.1%
IV Percentile6.7%0.4%22.2%22.2%0.8%
Term Structure0.1%-0.5%1.1%-0.2%-0.4%
VWIV31.8%29.1%35.9%35.9%29.6%
Skew 25d3.5%2.5%4.4%4.1%3.6%
Skew 10d6.6%4.6%8.6%8.3%7.1%
Call IV 25d30.2%28.0%32.8%32.8%28.0%
Put IV 25d33.7%31.6%36.9%36.9%31.6%
Bid-Ask Spread %21.722.0347.3337.3618.71
Gamma HHI0.090.080.110.090.09
Net GEX20.7M-2.6M50.8M3.5M17.2M
Net DEX-79.3M-1.04B519.6M371.3M49.3M
Net VEX-9.4M-10.0M-8.8M-9.5M-8.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.870.4412.641.401.39
Total Volume181,070.73771,146647,597146,09271,146
Total OI3,134,243.2632,970,3593,415,2342,970,3593,076,362

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$27.27$27.0034.2%9.5%29.0%17.1%35.9%4.1%-0.2%3.5M371.3M-9.5M1.4037.36N/AN/A60,84385,2491,376,8941,593,465
2023-04-04$27.27$27.0033.5%9.3%28.6%15.0%33.0%3.9%-0.3%4.3M353.9M-9.6M12.6432.12N/AN/A47,492600,1051,410,7141,636,721
2023-04-05$27.23$27.0033.4%9.0%26.4%13.9%31.7%4.1%0.1%5.2M380.5M-9.4M4.0642.94N/AN/A24,967101,4271,434,7781,649,721
2023-04-06$27.09$29.0031.2%9.2%25.8%7.8%35.5%3.1%1.1%-2.6M486.6M-9.3M4.262.03N/AN/A41,530176,8531,448,4381,687,745
2023-04-10$27.32$29.0031.7%9.3%24.3%9.2%31.6%3.9%0.7%379.6K377.0M-8.9M0.5819.67N/AN/A49,17828,7641,411,7871,577,367
2023-04-11$28.82$29.0032.6%9.4%30.2%11.8%32.0%3.6%-0.0%31.5M-476.6M-9.3M0.7119.49N/AN/A199,509141,6661,423,5681,579,890
2023-04-12$29.36$29.0032.4%9.3%30.5%11.2%32.9%2.9%0.3%50.8M-901.7M-9.7M1.7619.31N/AN/A128,878226,2741,548,2061,663,422
2023-04-13$29.30$29.0031.6%9.0%29.9%9.0%31.8%2.7%-0.2%46.0M-870.8M-9.6M0.4420.18N/AN/A139,22561,8711,557,5241,653,719
2023-04-14$29.31$29.0030.7%8.9%29.2%6.4%30.8%2.8%0.4%48.4M-1.04B-9.8M0.727.09N/AN/A127,79792,3811,635,4281,607,809
2023-04-17$29.16$29.0030.7%8.8%28.2%6.6%31.5%2.5%0.2%48.8M-874.8M-10.0M0.6416.40N/AN/A50,08132,0821,669,4011,573,705
2023-04-18$28.98$29.0029.7%8.5%28.3%3.8%29.5%3.2%-0.1%48.1M-769.2M-9.9M0.5012.19N/AN/A117,30058,1701,701,4421,581,322
2023-04-19$27.80$29.0030.9%8.9%32.7%7.1%31.8%3.4%-0.1%16.8M70.7M-9.2M0.987.45N/AN/A107,746105,9681,687,7321,583,600
2023-04-20$27.99$29.0030.4%8.7%32.7%5.6%30.0%3.1%0.5%26.2M-67.8M-9.3M1.122.30N/AN/A58,67765,5001,711,9661,627,025
2023-04-21$27.64$29.0029.4%8.3%30.1%1.2%29.1%3.3%0.9%4.6M263.1M-9.0M0.5626.05N/AN/A53,16129,6861,740,4771,674,757
2023-04-24$27.98$29.0030.5%8.9%30.0%3.0%31.2%3.1%-0.1%18.5M97.9M-9.2M0.5318.33N/AN/A64,79134,4521,569,6851,420,456
2023-04-25$27.63$29.0032.4%9.2%30.2%8.6%32.4%4.4%-0.3%9.0M338.6M-8.9M1.7047.33N/AN/A30,63252,0771,555,9081,436,844
2023-04-26$27.46$29.0032.8%9.4%29.4%9.7%31.8%4.3%-0.5%2.5M519.6M-9.0M0.8018.24N/AN/A48,33538,6501,570,1061,450,972
2023-04-27$27.95$29.0031.3%9.0%29.7%5.3%31.7%4.1%-0.1%13.3M184.9M-9.0M0.7845.55N/AN/A49,45738,4241,558,5211,463,145
2023-04-28$28.20$29.0029.8%8.4%28.6%1.1%29.6%3.6%-0.4%17.2M49.3M-8.8M1.3918.71N/AN/A29,76841,3781,590,5971,485,765