EWZ Options History — May 2023

In May 2023, EWZ traded between $27.34 and $30.14. ATM implied volatility averaged 32.1%, placing in the 8.0% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 6.7% (HV 20d: 25.4%). Max pain ranged from $28.00 to $29.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.87.

Notable Days

  • 2023-05-19: Highest Volume — 241,967 contracts
  • 2023-05-08: Largest IV spike — 16.7% change
  • 2023-05-09: Highest IV Rank — 21.1%
  • 2023-05-04: Largest Expected Move — 10.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.18$27.34$30.14$28.01$28.84
Max Pain$28.36$28.00$29.00$29.00$29.00
ATM IV32.1%28.1%36.8%29.4%28.1%
Expected Move9.4%8.6%10.3%8.6%9.2%
HV 20d25.4%20.2%32.6%28.4%21.5%
HV 60d26.8%26.0%27.7%27.0%26.6%
IV Rank8.0%0.0%21.1%0.1%0.0%
IV Percentile13.9%0.0%44.8%0.4%0.0%
Term Structure0.2%-4.0%4.7%4.0%-0.1%
VWIV32.6%30.0%38.5%30.7%32.2%
Skew 25d4.2%2.4%6.1%3.5%2.8%
Skew 10d5.9%2.2%7.8%6.1%3.1%
Call IV 25d28.7%26.8%32.3%28.0%27.4%
Put IV 25d32.9%29.5%37.0%31.5%30.2%
Bid-Ask Spread %42.544.7364.5110.5533.84
Gamma HHI0.150.080.400.090.15
Net GEX46.3M-2.4M99.0M13.1M22.5M
Net DEX-482.5M-1.35B586.9M205.0M104.2M
Net VEX-8.0M-8.8M-7.2M-8.5M-7.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.262.280.430.78
Total Volume131,82319,301241,96719,301145,641
Total OI3,045,633.4092,520,5853,403,7213,046,0792,771,684

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$28.01$29.0029.4%8.6%28.4%0.1%30.7%3.5%4.0%13.1M205.0M-8.5M0.4310.55N/AN/A13,4715,8301,576,8971,469,182
2023-05-02$27.34$29.0030.7%9.0%29.8%3.7%33.1%4.4%4.6%-2.4M586.9M-8.1M2.129.48N/AN/A16,61735,1621,579,7861,469,518
2023-05-03$27.56$29.0030.8%9.0%29.9%4.0%30.0%3.5%4.7%1.3M497.1M-8.2M1.2147.84N/AN/A30,75137,0641,587,5741,493,564
2023-05-04$27.70$28.0032.2%10.3%29.9%8.0%37.4%3.7%4.1%11.4M394.2M-8.1M0.9056.57N/AN/A101,98391,8791,613,4341,497,012
2023-05-05$28.77$28.0030.9%10.0%32.6%4.3%34.3%3.2%3.7%37.8M-337.8M-8.7M0.664.99N/AN/A88,98858,5261,674,4611,538,525
2023-05-08$28.63$28.0036.1%10.2%32.6%19.1%33.6%4.6%-3.2%38.5M-218.6M-8.4M0.334.73N/AN/A126,66942,3391,660,2121,502,667
2023-05-09$29.04$28.0036.8%10.2%26.9%21.1%34.1%5.3%-2.1%54.7M-544.3M-8.8M0.5353.05N/AN/A69,68036,9921,742,8601,519,845
2023-05-10$29.37$28.0036.7%10.1%26.4%20.9%34.3%6.1%-0.4%65.1M-791.3M-8.8M1.0336.52N/AN/A69,62471,7171,757,4901,534,835
2023-05-11$29.56$28.0036.1%9.6%26.5%19.3%38.5%2.4%-2.7%64.1M-906.6M-8.6M0.6357.20N/AN/A101,72063,7691,748,3501,562,409
2023-05-12$29.74$28.0034.7%9.3%26.6%15.2%33.7%4.8%-4.0%70.4M-1.04B-8.5M0.7342.14N/AN/A91,19366,1681,747,3281,574,381
2023-05-15$30.14$28.0033.7%9.4%26.8%12.1%31.4%5.1%0.1%78.6M-1.35B-8.1M0.5856.46N/AN/A66,28638,4841,732,4381,562,951
2023-05-16$29.68$28.0033.1%9.4%27.4%10.7%30.7%5.4%0.9%69.9M-987.2M-7.9M0.3564.51N/AN/A119,75342,0841,751,2761,579,970
2023-05-17$29.91$28.0032.3%9.3%22.3%8.3%30.0%5.1%-0.1%76.2M-1.18B-7.9M0.4561.85N/AN/A94,16741,9011,757,2371,604,629
2023-05-18$29.95$28.0032.0%9.2%22.3%7.6%32.5%5.2%0.2%72.9M-1.22B-7.7M2.2859.56N/AN/A27,48662,6251,753,2331,613,495
2023-05-19$29.88$28.0030.2%8.7%21.6%2.3%30.2%3.7%0.0%99.0M-1.10B-7.5M1.0054.97N/AN/A120,758121,2091,763,3231,640,398
2023-05-22$29.87$28.0030.6%8.9%21.4%3.4%31.1%5.2%-1.1%43.7M-628.5M-7.4M0.9650.46N/AN/A65,65062,8171,255,3701,265,215
2023-05-23$29.80$28.0030.6%9.2%20.7%3.4%31.1%4.3%-0.9%43.3M-593.1M-7.6M1.2946.26N/AN/A43,78856,4981,278,5421,252,399
2023-05-24$29.63$29.0031.6%9.4%20.6%6.4%32.4%4.0%-0.9%38.3M-458.2M-7.8M0.2648.21N/AN/A150,67239,3291,308,4151,299,215
2023-05-25$29.46$29.0030.7%9.0%20.2%3.7%31.6%4.2%-1.6%35.4M-357.5M-7.6M1.3144.77N/AN/A30,75440,3921,298,2391,314,736
2023-05-26$29.94$29.0028.4%8.7%20.7%0.0%32.3%2.6%0.5%53.6M-641.5M-7.6M0.4949.46N/AN/A98,41048,2621,305,1311,327,844
2023-05-30$29.12$29.0029.3%9.3%23.2%2.4%31.2%3.7%-0.5%32.3M-51.4M-7.3M0.7742.36N/AN/A92,26670,7321,353,1981,364,667
2023-05-31$28.84$29.0028.1%9.2%21.5%0.0%32.2%2.8%-0.1%22.5M104.2M-7.2M0.7833.84N/AN/A81,87563,7661,378,1951,393,489