EWZ Options History — August 2023

In August 2023, EWZ traded between $30.23 and $33.20. ATM implied volatility averaged 27.3%, placing in the 6.3% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 5.2% (HV 20d: 22.1%). Max pain ranged from $30.00 to $33.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 0.75.

Notable Days

  • 2023-08-18: Highest Volume — 292,129 contracts
  • 2023-08-21: Largest IV spike — 6.7% change
  • 2023-08-02: Highest IV Rank — 9.9%
  • 2023-08-02: Largest Expected Move — 8.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.53$30.23$33.20$33.20$30.91
Max Pain$30.85$30.00$33.00$33.00$32.00
ATM IV27.3%25.3%28.7%27.8%26.3%
Expected Move7.8%7.1%8.4%8.0%7.5%
HV 20d22.1%18.1%26.9%26.9%23.3%
HV 60d23.7%23.1%24.9%24.2%23.7%
IV Rank6.3%1.3%9.9%7.6%3.8%
IV Percentile12.2%1.6%20.2%14.7%7.9%
Term Structure0.2%-0.5%1.3%-0.3%0.6%
VWIV27.3%24.6%29.4%28.3%26.3%
Skew 25d3.3%2.8%3.9%2.8%3.0%
Skew 10d6.6%5.0%8.7%5.2%6.3%
Call IV 25d26.2%24.1%27.9%26.8%25.1%
Put IV 25d29.5%27.3%31.7%29.5%28.1%
Bid-Ask Spread %2.291.558.642.542.30
Gamma HHI0.100.070.130.130.10
Net GEX46.5M-3.8M101.3M83.6M49.4M
Net DEX-377.1M-1.20B433.4M-1.20B-163.3M
Net VEX-9.3M-10.6M-8.1M-9.9M-9.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.091.850.790.53
Total Volume126,776.78329,164292,12976,440152,421
Total OI2,831,354.132,524,0163,182,4442,560,0913,182,444

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-08-01$33.20$33.0027.8%8.0%26.9%7.6%28.3%2.8%-0.3%83.6M-1.20B-9.9M0.792.54N/AN/A42,75833,6821,472,5091,087,582
2023-08-02$33.02$33.0028.7%8.4%26.4%9.9%29.4%3.3%-0.4%79.7M-1.11B-9.8M0.702.10N/AN/A77,84854,8441,487,2021,072,903
2023-08-03$32.38$30.0028.7%8.2%24.2%9.7%28.3%3.0%-0.5%59.9M-660.4M-9.6M0.771.79N/AN/A75,62758,4371,502,2341,096,732
2023-08-04$32.09$30.0028.5%8.2%22.7%9.4%28.4%3.0%-0.5%33.8M-386.3M-9.4M0.942.12N/AN/A41,79439,2451,508,1541,125,379
2023-08-07$31.98$30.0027.7%7.9%22.0%7.3%28.5%2.9%0.1%39.8M-432.6M-8.8M1.701.87N/AN/A24,08340,9851,445,1571,078,859
2023-08-08$31.93$30.0027.8%8.1%22.0%7.5%27.5%3.2%0.4%36.6M-354.8M-9.0M0.222.18N/AN/A143,58532,1591,459,2411,102,142
2023-08-09$31.64$30.0027.9%7.9%21.7%7.7%28.4%3.6%-0.4%35.2M-266.5M-8.7M1.132.06N/AN/A14,04615,8151,570,3361,102,531
2023-08-10$31.79$30.0026.8%7.8%20.6%5.1%27.0%3.0%0.1%36.7M-320.4M-8.7M0.641.63N/AN/A50,67532,5831,583,4731,104,625
2023-08-11$31.56$30.0026.6%7.6%20.2%4.4%26.9%2.8%-0.2%26.9M-188.1M-8.5M0.361.73N/AN/A78,74228,3021,603,0311,107,593
2023-08-14$30.94$30.0027.7%8.0%21.3%7.3%27.8%3.3%0.4%18.4M95.4M-8.1M0.381.87N/AN/A190,56571,4601,623,5951,114,093
2023-08-15$30.63$30.0028.6%8.2%21.4%9.5%29.1%3.8%0.7%9.6M233.1M-8.4M1.051.55N/AN/A60,44563,5431,676,3191,161,682
2023-08-16$30.55$30.0027.8%8.0%21.4%7.6%27.6%3.8%1.0%2.6M290.7M-8.4M0.721.89N/AN/A131,58595,0401,729,7281,193,075
2023-08-17$30.34$31.0028.2%8.1%21.3%8.5%27.4%3.8%0.0%-3.8M433.4M-8.5M0.991.70N/AN/A65,35564,7181,816,3361,245,439
2023-08-18$30.56$31.0026.4%7.5%19.6%4.1%26.3%3.2%1.3%2.1M316.6M-8.6M0.231.89N/AN/A238,25353,8761,857,7151,253,765
2023-08-21$30.23$31.0028.2%8.0%18.1%8.6%27.4%3.9%0.3%25.3M107.9M-8.8M0.542.15N/AN/A79,84943,4491,678,8731,094,284
2023-08-22$30.93$31.0027.5%7.7%20.5%6.7%29.0%3.7%-0.3%47.0M-268.5M-9.4M0.702.02N/AN/A44,22531,0091,729,1771,109,597
2023-08-23$31.98$31.0026.1%7.4%24.1%3.2%26.0%3.5%0.1%78.1M-913.9M-10.0M0.092.01N/AN/A199,16717,2821,749,1811,130,094
2023-08-24$31.56$31.0026.7%7.5%22.4%4.7%25.5%2.8%0.4%69.6M-634.6M-9.9M0.302.31N/AN/A55,04116,6271,786,7381,141,758
2023-08-25$31.34$31.0026.1%7.4%22.1%3.3%25.6%2.8%0.4%66.4M-513.5M-9.7M0.522.12N/AN/A123,66163,9201,817,4361,152,972
2023-08-28$31.69$31.0026.8%7.6%21.7%4.9%27.0%3.5%0.3%83.0M-774.0M-10.3M1.722.12N/AN/A10,71118,4531,924,6641,191,285
2023-08-29$32.20$31.5025.9%7.3%21.8%2.9%25.6%3.4%0.5%101.3M-1.13B-10.6M1.851.98N/AN/A18,17133,5741,922,6221,197,376
2023-08-30$31.84$32.0025.3%7.1%22.0%1.3%24.6%3.2%0.3%88.5M-830.3M-10.2M0.408.64N/AN/A63,19825,0581,926,4661,204,748
2023-08-31$30.91$32.0026.3%7.5%23.3%3.8%26.3%3.0%0.6%49.4M-163.3M-9.7M0.532.30N/AN/A99,68752,7341,961,9881,220,456