EWZ Options History — April 2025

In April 2025, EWZ traded between $23.36 and $27.37. ATM implied volatility averaged 29.5%, placing in the 45.8% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 9.2% (HV 20d: 38.6%). Max pain ranged from $24.00 to $25.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.72.

Notable Days

  • 2025-04-24: Highest Volume — 199,967 contracts
  • 2025-04-07: Largest IV spike — 113.4% change
  • 2025-04-07: Highest IV Rank — 86.4%
  • 2025-04-08: Largest Expected Move — 11.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.56$23.36$27.37$26.12$27.02
Max Pain$24.05$24.00$25.00$24.00$25.00
ATM IV29.5%20.0%42.6%25.7%25.2%
Expected Move8.7%7.4%11.5%7.4%7.5%
HV 20d38.6%22.9%43.8%24.1%43.8%
HV 60d29.8%22.9%32.1%23.4%31.8%
IV Rank45.8%16.6%86.4%34.3%32.8%
IV Percentile71.6%1.6%98.8%61.1%48.4%
Term Structure0.1%-32.2%25.3%1.3%-0.4%
VWIV30.7%25.4%38.8%27.0%29.3%
Skew 25d3.2%-16.6%21.4%9.4%1.2%
Skew 10d5.6%-32.8%20.1%-7.6%6.0%
Call IV 25d26.5%16.3%37.6%16.3%26.6%
Put IV 25d29.7%16.4%42.8%25.7%27.7%
Bid-Ask Spread %33.4616.3946.2716.3933.08
Gamma HHI0.110.080.200.110.12
Net GEX24.5M-6.2M73.8M24.3M48.8M
Net DEX-481.2M-1.28B423.9M-707.4M-1.06B
Net VEX-9.5M-10.4M-8.3M-9.2M-10.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.720.201.880.991.88
Total Volume99,740.42914,519199,96772,49288,778
Total OI2,432,830.5712,225,8572,638,1172,305,3622,411,529

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$26.12$24.0025.7%7.4%24.1%34.3%27.0%9.4%1.3%24.3M-707.4M-9.2M0.9916.39N/AN/A36,46736,0251,342,375962,987
2025-04-02$26.13$24.0025.6%7.5%22.9%33.8%25.4%6.4%-9.2%24.0M-719.8M-9.3M1.0618.33N/AN/A25,26226,6591,363,322989,509
2025-04-03$26.31$24.0029.9%7.4%22.9%47.3%25.5%6.6%11.9%29.1M-823.1M-9.4M0.3633.22N/AN/A103,99737,5291,384,0641,017,928
2025-04-04$24.59$24.0020.0%8.8%33.8%16.6%32.0%-16.6%0.6%-5.8M67.6M-8.6M1.0540.87N/AN/A89,42793,6001,377,0821,026,116
2025-04-07$23.93$24.0042.6%10.9%34.1%86.4%38.8%-4.2%-4.9%-2.7M216.9M-8.7M1.1540.08N/AN/A81,44093,3351,388,5231,019,714
2025-04-08$23.36$24.0039.3%11.5%35.0%76.2%37.1%-10.2%2.6%-6.2M423.9M-8.3M0.6936.42N/AN/A76,78652,6831,407,3501,040,062
2025-04-09$24.89$24.0020.0%9.2%42.0%16.7%32.9%3.4%13.8%8.9M-184.1M-9.3M0.4846.27N/AN/A81,77439,6141,443,3001,046,763
2025-04-10$24.04$24.0041.5%10.6%43.6%83.0%36.7%14.3%-32.2%2.5M141.6M-9.0M0.9044.96N/AN/A37,21033,6601,506,7801,069,377
2025-04-11$24.73$24.0032.7%9.8%42.2%55.8%33.7%21.4%-3.4%8.7M-139.9M-9.4M0.2536.79N/AN/A93,27623,2081,488,1011,082,437
2025-04-14$25.09$24.0032.1%9.3%41.3%54.1%31.2%7.3%-0.1%21.0M-348.3M-9.7M0.2334.41N/AN/A65,53514,8881,567,5491,051,560
2025-04-15$24.88$24.0028.2%8.2%41.4%42.0%28.6%4.7%-2.2%21.1M-212.5M-9.3M0.7937.05N/AN/A15,23111,9581,580,1491,056,827
2025-04-16$24.76$24.0028.9%8.3%40.8%44.1%31.9%4.3%-2.0%18.9M-148.9M-9.2M0.6128.26N/AN/A23,99514,5391,578,7151,059,402
2025-04-17$25.30$24.0032.6%8.7%41.7%55.6%31.3%3.9%25.3%22.0M-491.0M-9.5M0.8345.15N/AN/A101,71584,3901,577,4391,046,338
2025-04-21$25.16$24.0030.9%9.2%41.7%50.2%32.7%4.7%1.1%18.1M-254.4M-9.5M0.8627.66N/AN/A7,8016,7181,301,315924,542
2025-04-22$25.88$24.0028.0%8.4%42.9%41.1%30.5%3.8%0.8%28.6M-582.6M-9.7M1.2932.04N/AN/A31,67240,8711,299,015929,340
2025-04-23$26.27$24.0028.1%8.1%43.2%41.7%28.8%-7.6%-1.0%31.6M-728.0M-9.7M0.2042.69N/AN/A58,20011,8601,294,211957,936
2025-04-24$26.80$24.0027.9%8.1%43.7%41.1%28.2%4.0%-1.1%36.4M-972.4M-9.8M0.2630.71N/AN/A158,96041,0071,293,022985,133
2025-04-25$26.93$24.0026.4%7.7%43.7%36.4%28.3%3.5%-0.1%73.8M-1.12B-10.4M0.3334.67N/AN/A63,93121,0261,427,808995,888
2025-04-28$27.16$24.0027.5%7.8%43.5%39.7%28.8%5.0%1.4%54.8M-1.18B-10.2M0.8121.17N/AN/A30,28924,4131,397,317998,822
2025-04-29$27.37$24.0025.2%7.4%43.5%32.6%26.7%3.0%0.1%56.2M-1.28B-10.3M0.2222.37N/AN/A94,18620,6341,386,6771,013,118
2025-04-30$27.02$25.0025.2%7.5%43.8%32.8%29.3%1.2%-0.4%48.8M-1.06B-10.1M1.8833.08N/AN/A30,87357,9051,390,3871,021,142