EWZ Options History — February 2025

In February 2025, EWZ traded between $24.06 and $26.38. ATM implied volatility averaged 24.9%, placing in the 31.6% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded above realized volatility by 3.4% (HV 20d: 21.4%). Max pain ranged from $23.00 to $25.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.91.

Notable Days

  • 2025-02-14: Highest Volume — 298,013 contracts
  • 2025-02-13: Largest IV spike — 73.5% change
  • 2025-02-05: Highest IV Rank — 55.3%
  • 2025-02-28: Largest Expected Move — 7.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.48$24.06$26.38$25.39$24.06
Max Pain$24.68$23.00$25.00$23.00$25.00
ATM IV24.9%15.2%32.5%26.5%24.7%
Expected Move7.3%6.8%7.7%7.4%7.7%
HV 20d21.4%18.6%24.9%20.8%24.2%
HV 60d29.1%28.3%30.2%28.6%28.9%
IV Rank31.6%1.8%55.3%36.8%31.2%
IV Percentile53.4%0.4%92.9%73.4%51.2%
Term Structure0.8%-12.6%17.1%-7.7%0.8%
VWIV26.2%23.9%29.2%26.4%27.6%
Skew 25d1.3%0.2%4.6%0.9%1.7%
Skew 10d2.7%-10.9%12.4%4.5%4.9%
Call IV 25d25.2%23.1%26.6%26.0%25.5%
Put IV 25d26.5%25.0%27.7%26.9%27.1%
Bid-Ask Spread %45.3626.7357.6349.0437.20
Gamma HHI0.140.110.400.120.40
Net GEX20.0M-122.3M63.0M48.7M-122.3M
Net DEX-853.4M-1.52B397.4M-1.15B397.4M
Net VEX-8.8M-9.1M-8.3M-8.7M-8.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.910.092.810.292.54
Total Volume120,597.10536,011298,013182,646143,434
Total OI2,795,188.2112,582,6693,053,5382,582,8903,007,307

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$25.39$23.0026.5%7.4%20.8%36.8%26.4%0.9%-7.7%48.7M-1.15B-8.7M0.2949.04N/AN/A141,21941,4271,508,7361,074,154
2025-02-04$25.45$23.0025.9%7.6%19.7%34.7%27.4%0.5%17.1%50.8M-1.17B-9.0M0.7046.56N/AN/A98,92169,1741,541,1051,092,765
2025-02-05$25.43$23.0032.5%7.4%19.3%55.3%29.2%0.6%-12.6%37.1M-972.2M-8.8M0.6526.73N/AN/A64,19741,4321,436,7021,145,967
2025-02-06$25.73$25.0024.1%7.2%19.3%29.3%26.3%2.1%1.1%49.3M-1.16B-8.8M0.5044.84N/AN/A40,62720,2971,467,2481,173,903
2025-02-07$25.26$25.0025.7%7.3%20.2%34.1%25.2%1.7%2.1%32.7M-841.6M-8.6M2.8145.44N/AN/A64,671181,8711,488,2861,187,341
2025-02-10$25.59$25.0025.6%7.3%19.9%33.9%26.7%1.5%0.0%24.7M-943.4M-8.8M0.9743.92N/AN/A42,53041,0461,451,7441,229,366
2025-02-11$25.80$25.0024.5%7.2%19.9%30.4%25.2%4.6%3.5%34.0M-1.10B-8.8M0.0950.63N/AN/A100,1449,1661,469,5011,229,511
2025-02-12$25.38$25.0015.2%7.4%21.5%1.8%26.2%0.9%8.7%27.3M-877.1M-8.8M0.7548.34N/AN/A35,95326,7891,516,7781,234,127
2025-02-13$25.45$25.0026.3%7.1%18.6%36.1%24.8%1.1%0.6%30.1M-898.0M-8.6M0.7145.43N/AN/A35,36825,2011,512,8261,247,085
2025-02-14$26.38$25.0023.9%7.4%20.3%28.6%27.0%0.2%5.2%54.1M-1.50B-8.9M0.3650.40N/AN/A218,36379,6501,525,8241,252,314
2025-02-18$26.38$25.0025.4%7.3%20.4%33.3%26.4%0.3%-0.4%63.0M-1.52B-9.0M1.0049.32N/AN/A76,81977,0271,615,8261,226,899
2025-02-19$26.09$25.0025.1%7.2%21.0%32.3%25.8%0.2%0.1%51.1M-1.27B-9.0M0.3452.92N/AN/A140,56948,2681,636,7141,269,189
2025-02-20$26.20$25.0023.7%6.8%20.7%28.0%23.9%0.9%-0.6%57.2M-1.34B-9.1M0.3653.09N/AN/A51,31418,3621,737,7631,306,938
2025-02-21$25.51$25.0024.6%6.9%23.3%30.9%26.5%1.8%0.6%-1.6M-814.6M-8.9M2.3057.63N/AN/A41,22094,8881,741,6551,311,883
2025-02-24$25.11$25.0025.1%7.2%24.2%32.2%26.0%1.0%-0.7%-1.7M-372.7M-8.5M0.7144.25N/AN/A27,57419,4741,554,9721,193,599
2025-02-25$25.34$25.0024.5%7.0%23.9%30.5%24.7%1.6%-0.5%6.8M-483.8M-8.5M0.4644.57N/AN/A59,59427,2641,558,4211,202,452
2025-02-26$24.87$25.0023.7%7.2%24.9%28.1%25.7%0.9%-0.6%-28.1M-182.4M-8.7M0.5335.83N/AN/A33,75917,7221,601,6381,364,008
2025-02-27$24.69$25.0025.2%7.4%24.9%32.6%27.0%1.1%-1.2%-33.6M-21.6M-8.7M1.2235.69N/AN/A16,20719,8041,624,5091,369,520
2025-02-28$24.06$25.0024.7%7.7%24.2%31.2%27.6%1.7%0.8%-122.3M397.4M-8.3M2.5437.20N/AN/A40,533102,9011,631,1871,376,120