EWZ Options History — December 2024

In December 2024, EWZ traded between $22.27 and $26.41. ATM implied volatility averaged 29.4%, placing in the 43.1% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded below realized volatility by 1.6% (HV 20d: 30.9%). Max pain ranged from $25.50 to $28.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.81.

Notable Days

2024-12-18: Highest Volume — 486,105 contracts
2024-12-11: Largest IV spike — 146.0% change
2024-12-13: Highest IV Rank — 79.2%
2024-12-02: Largest Expected Move — 11.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.24	$22.27	$26.41	$25.27	$22.51
Max Pain	$26.88	$25.50	$28.00	$28.00	$25.50
ATM IV	29.4%	14.6%	40.3%	29.1%	27.8%
Expected Move	8.5%	6.7%	11.1%	11.1%	8.2%
HV 20d	30.9%	22.3%	40.4%	25.6%	36.9%
HV 60d	24.5%	21.1%	28.1%	21.2%	27.7%
IV Rank	43.1%	0.0%	79.2%	34.4%	40.6%
IV Percentile	75.5%	0.0%	98.0%	89.3%	84.5%
Term Structure	0.9%	-28.0%	17.4%	17.4%	-0.1%
VWIV	30.4%	23.2%	42.4%	42.4%	29.7%
Skew 25d	0.4%	-21.1%	28.1%	28.1%	0.6%
Skew 10d	3.0%	-33.3%	53.4%	53.4%	-10.5%
Call IV 25d	31.9%	17.6%	59.8%	26.2%	29.9%
Put IV 25d	32.3%	16.5%	54.3%	54.3%	30.5%
Bid-Ask Spread %	55.86	38.22	96.62	70.47	50.54
Gamma HHI	0.19	0.13	0.27	0.18	0.16
Net GEX	-57.8M	-109.0M	-20.2M	-84.6M	-26.4M
Net DEX	1.52B	938.8M	2.19B	1.96B	1.02B
Net VEX	-5.9M	-6.8M	-4.9M	-5.2M	-6.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.81	0.25	2.33	1.06	0.31
Total Volume	177,146.429	36,271	486,105	196,458	36,271
Total OI	3,273,611.476	2,777,762	3,614,380	3,171,106	3,088,090

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2024-12-02	$25.27	$28.00	29.1%	11.1%	25.6%	34.4%	42.4%	28.1%	17.4%	-84.6M	1.96B	-5.2M	1.06	70.47	N/A	N/A	95,282	101,176	1,573,060	1,598,046
2024-12-03	$25.36	$28.00	32.6%	10.3%	22.8%	47.0%	34.5%	0.1%	15.0%	-80.4M	1.80B	-5.4M	0.61	61.97	N/A	N/A	44,802	27,519	1,652,407	1,613,106
2024-12-04	$25.48	$28.00	18.1%	10.6%	22.3%	0.0%	34.7%	17.8%	0.6%	-80.7M	1.75B	-5.3M	0.93	69.90	N/A	N/A	31,292	29,183	1,678,027	1,634,692
2024-12-05	$25.91	$28.00	26.1%	7.3%	22.9%	27.7%	24.7%	3.1%	7.0%	-73.7M	1.49B	-5.6M	0.52	54.88	N/A	N/A	64,001	33,372	1,701,921	1,650,153
2024-12-06	$25.30	$28.00	19.0%	7.1%	23.8%	3.3%	25.0%	-8.4%	7.2%	-88.4M	1.86B	-5.2M	0.33	57.34	N/A	N/A	113,153	37,807	1,714,440	1,654,710
2024-12-09	$25.57	$28.00	37.4%	6.7%	23.3%	66.5%	23.2%	4.7%	-4.8%	-109.0M	1.69B	-4.9M	1.05	96.62	N/A	N/A	41,470	43,432	1,696,840	1,614,564
2024-12-10	$25.84	$28.00	14.6%	7.4%	23.8%	0.0%	26.0%	-2.4%	10.1%	-88.5M	1.45B	-5.4M	0.35	55.59	N/A	N/A	140,571	48,961	1,689,560	1,620,570
2024-12-11	$26.41	$27.00	35.9%	8.1%	25.4%	65.7%	29.9%	-10.0%	-22.5%	-42.0M	938.8M	-6.3M	0.26	46.58	N/A	N/A	128,970	33,325	1,796,115	1,618,715
2024-12-12	$25.73	$27.00	31.9%	8.0%	26.8%	53.2%	28.7%	-21.1%	10.4%	-71.8M	1.42B	-5.8M	0.52	66.49	N/A	N/A	208,116	108,711	1,836,956	1,627,869
2024-12-13	$25.27	$27.00	40.3%	7.3%	27.3%	79.2%	27.7%	-11.9%	-28.0%	-80.3M	1.76B	-5.7M	0.53	64.12	N/A	N/A	118,947	62,570	1,916,534	1,674,400
2024-12-16	$24.77	$27.00	23.9%	7.2%	27.8%	28.7%	25.5%	-1.3%	11.6%	-77.6M	2.02B	-5.0M	0.66	65.76	N/A	N/A	174,886	115,048	1,788,371	1,631,199
2024-12-17	$23.95	$27.00	27.4%	7.9%	29.4%	39.5%	29.2%	0.6%	-0.2%	-65.9M	2.19B	-6.0M	0.80	54.34	N/A	N/A	74,751	59,918	1,843,151	1,698,013
2024-12-18	$22.27	$26.00	36.3%	10.4%	37.5%	66.9%	36.7%	3.1%	-13.4%	-47.3M	2.07B	-5.2M	1.77	53.62	N/A	N/A	175,441	310,664	1,898,585	1,473,657
2024-12-19	$22.88	$26.00	31.5%	9.0%	39.8%	52.0%	32.7%	2.8%	-0.5%	-43.8M	1.88B	-5.7M	0.70	49.95	N/A	N/A	143,883	100,614	2,029,277	1,519,054
2024-12-20	$23.13	$26.00	31.5%	9.1%	40.4%	52.1%	33.7%	2.0%	-0.9%	-39.1M	1.45B	-6.6M	0.90	49.85	N/A	N/A	186,256	168,200	2,145,867	1,468,513
2024-12-23	$22.63	$26.00	32.0%	8.9%	39.3%	53.7%	32.5%	0.4%	0.1%	-22.8M	1.15B	-6.4M	0.81	40.77	N/A	N/A	83,105	67,152	1,617,101	1,160,661
2024-12-24	$22.84	$26.00	30.6%	8.8%	39.8%	49.3%	30.2%	0.5%	13.2%	-20.2M	1.00B	-6.7M	0.25	38.22	N/A	N/A	48,218	12,289	1,677,704	1,194,588
2024-12-26	$22.71	$26.00	31.2%	8.5%	39.6%	51.3%	30.6%	0.0%	0.3%	-21.7M	1.02B	-6.7M	2.33	39.78	N/A	N/A	68,240	158,733	1,721,202	1,198,944
2024-12-27	$22.54	$26.00	31.8%	8.2%	38.1%	53.1%	30.5%	-0.4%	-7.2%	-27.1M	1.05B	-6.8M	1.35	39.89	N/A	N/A	49,974	67,335	1,761,819	1,242,526
2024-12-30	$22.64	$26.00	27.8%	8.2%	37.0%	40.6%	30.0%	0.1%	3.4%	-22.8M	1.03B	-6.7M	0.98	46.28	N/A	N/A	53,781	52,656	1,775,671	1,249,163
2024-12-31	$22.51	$25.50	27.8%	8.2%	36.9%	40.6%	29.7%	0.6%	-0.1%	-26.4M	1.02B	-6.8M	0.31	50.54	N/A	N/A	27,779	8,492	1,820,274	1,267,816