EWZ Options History — December 2023

In December 2023, EWZ traded between $33.39 and $35.59. ATM implied volatility averaged 27.3%, placing in the 13.1% IV rank vs the trailing year. The 30-day expected move averaged 7.4%. IV traded above realized volatility by 5.4% (HV 20d: 21.9%). Max pain ranged from $31.00 to $36.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 1.49.

Notable Days

  • 2023-12-19: Highest Volume — 799,596 contracts
  • 2023-12-22: Largest IV spike — 45.0% change
  • 2023-12-27: Highest IV Rank — 42.6%
  • 2023-12-27: Largest Expected Move — 10.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.41$33.39$35.59$34.41$34.95
Max Pain$34.30$31.00$36.00$31.00$36.00
ATM IV27.3%20.1%36.0%28.9%24.8%
Expected Move7.4%5.8%10.5%6.9%6.8%
HV 20d21.9%17.4%27.6%17.4%27.2%
HV 60d23.9%23.1%25.3%23.6%23.7%
IV Rank13.1%0.0%42.6%11.1%12.4%
IV Percentile30.3%0.0%90.9%44.0%3.6%
Term Structure-0.7%-10.0%9.2%-0.3%0.4%
VWIV25.0%19.8%31.9%24.8%23.6%
Skew 25d0.0%-16.5%5.4%3.8%2.5%
Skew 10d0.5%-18.3%7.0%4.3%5.3%
Call IV 25d26.4%22.0%34.3%25.4%24.0%
Put IV 25d26.4%15.8%38.2%29.1%26.5%
Bid-Ask Spread %45.311.6962.001.6927.95
Gamma HHI0.150.090.250.170.12
Net GEX63.5M2.9M135.0M94.6M55.0M
Net DEX-832.2M-1.98B307.6M-1.68B-172.6M
Net VEX-5.7M-7.5M-4.5M-5.5M-7.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.490.084.520.653.05
Total Volume186,422.9555,366799,596285,66275,086
Total OI2,522,284.51,848,8453,075,0512,709,7002,297,949

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-12-01$34.41$31.0028.9%6.9%17.4%11.1%24.8%3.8%-0.3%94.6M-1.68B-5.5M0.651.69N/AN/A172,761112,9011,443,3241,266,376
2023-12-04$33.67$33.0030.6%7.6%19.4%15.4%26.1%5.4%-1.4%69.2M-1.20B-5.7M0.7155.70N/AN/A40,41428,8581,459,7191,344,421
2023-12-05$33.78$33.0029.5%7.3%19.4%12.7%24.0%-0.8%-1.2%70.8M-1.25B-5.4M0.0858.20N/AN/A183,74114,2121,419,6721,355,293
2023-12-06$33.64$33.0030.2%7.4%19.4%14.4%26.6%5.0%-1.1%73.7M-1.17B-5.6M4.5260.27N/AN/A11,39951,5151,499,0141,358,313
2023-12-07$33.61$33.0029.4%7.3%19.0%12.6%24.1%1.5%-0.7%67.0M-1.15B-5.4M1.8662.00N/AN/A19,34236,0241,494,8371,415,695
2023-12-08$33.84$33.0028.3%7.1%18.8%9.7%23.6%3.8%-0.4%71.0M-1.27B-5.4M1.4159.22N/AN/A29,19241,1681,510,5761,440,429
2023-12-11$33.77$33.0026.4%6.7%18.0%4.8%24.5%4.1%-0.8%68.1M-1.18B-4.8M1.3557.45N/AN/A34,43646,3711,485,7761,437,008
2023-12-12$33.39$33.0025.2%6.8%18.6%1.9%25.2%4.5%-1.2%47.1M-935.1M-4.9M1.0658.65N/AN/A46,38349,2851,492,1331,446,251
2023-12-13$34.52$34.0027.1%6.8%19.1%6.5%24.0%-1.5%-1.9%108.4M-1.67B-4.8M1.1459.17N/AN/A70,26780,2061,507,8831,466,244
2023-12-14$35.00$34.0025.3%6.7%19.6%2.1%23.4%2.2%-1.6%135.0M-1.98B-4.8M0.2853.97N/AN/A211,46259,2811,516,2641,508,831
2023-12-15$34.61$34.0020.3%6.4%20.1%0.0%23.5%3.9%9.2%71.0M-1.68B-4.7M0.6761.98N/AN/A85,06957,1381,555,0501,520,001
2023-12-18$35.17$35.0021.1%6.1%20.6%2.2%19.8%0.0%2.6%65.4M-535.1M-4.5M0.8845.78N/AN/A55,08048,374874,779974,066
2023-12-19$35.59$35.0020.1%5.8%19.8%0.0%20.9%-0.4%1.4%90.0M-689.9M-4.7M0.1640.85N/AN/A687,834111,762888,5431,004,279
2023-12-20$33.88$36.0024.3%7.0%26.6%11.3%24.7%3.0%0.0%2.9M307.6M-6.1M1.8838.68N/AN/A94,913178,141844,0381,068,624
2023-12-21$34.28$36.0023.9%6.8%26.9%10.0%25.5%3.8%0.7%17.1M106.9M-6.4M1.7043.52N/AN/A76,225129,547882,7101,099,952
2023-12-22$34.61$36.0034.6%10.0%27.1%38.9%30.0%-10.7%-0.4%27.2M59.5M-6.7M2.2141.97N/AN/A34,03375,344938,3881,133,934
2023-12-26$35.17$36.0035.4%10.3%27.6%41.0%30.2%-15.3%-10.0%48.0M-191.8M-6.6M2.8024.58N/AN/A36,016101,016956,9581,132,005
2023-12-27$35.22$36.0036.0%10.5%27.3%42.6%31.9%-16.5%-8.5%40.6M-126.1M-7.0M2.3227.22N/AN/A117,374272,743967,8591,182,008
2023-12-28$35.08$36.0024.5%6.8%27.1%11.8%23.0%2.5%0.6%47.9M-233.5M-7.5M0.9727.38N/AN/A78,03875,5081,032,9711,223,517
2023-12-29$34.95$36.0024.8%6.8%27.2%12.4%23.6%2.5%0.4%55.0M-172.6M-7.5M3.0527.95N/AN/A18,55756,5291,074,3741,223,575