EWZ Options History — October 2025

In October 2025, EWZ traded between $28.86 and $31.16. ATM implied volatility averaged 26.1%, placing in the 36.2% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 8.6% (HV 20d: 17.5%). Max pain ranged from $28.50 to $30.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.97.

Notable Days

  • 2025-10-07: Highest Volume — 531,391 contracts
  • 2025-10-29: Largest IV spike — 62.2% change
  • 2025-10-29: Highest IV Rank — 80.8%
  • 2025-10-15: Largest Expected Move — 7.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.11$28.86$31.16$30.64$31.16
Max Pain$29.46$28.50$30.00$28.50$30.00
ATM IV26.1%22.5%40.8%23.6%27.9%
Expected Move6.9%6.4%7.5%6.8%6.5%
HV 20d17.5%13.1%20.2%13.1%18.7%
HV 60d19.6%18.9%20.7%19.9%18.9%
IV Rank36.2%25.1%80.8%28.4%41.7%
IV Percentile43.3%13.5%96.8%22.6%72.6%
Term Structure0.6%-11.4%21.0%0.5%2.9%
VWIV25.0%23.2%28.2%23.7%23.7%
Skew 25d2.7%-9.7%17.0%1.6%4.9%
Skew 10d1.4%-22.2%14.4%2.3%2.5%
Call IV 25d23.1%14.9%32.7%23.2%14.9%
Put IV 25d25.7%19.8%41.7%24.8%19.8%
Bid-Ask Spread %50.3037.7970.9737.7951.99
Gamma HHI0.090.070.120.090.09
Net GEX69.5M13.0M98.5M94.2M87.4M
Net DEX-1.53B-2.41B-612.6M-2.41B-1.94B
Net VEX-20.8M-23.5M-19.5M-23.5M-21.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.970.053.460.053.46
Total Volume110,587.34825,299531,391129,45059,003
Total OI4,290,325.3043,874,9644,605,4064,603,5824,225,320

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-10-01$30.64$28.5023.6%6.8%13.1%28.4%23.7%1.6%0.5%94.2M-2.41B-23.5M0.0537.79N/AN/A123,3556,0952,908,2581,695,324
2025-10-02$30.29$28.5023.3%6.5%13.9%27.7%23.2%1.3%0.3%75.3M-2.02B-22.7M1.0245.54N/AN/A76,45678,1922,861,9481,700,193
2025-10-03$30.37$28.5023.2%6.4%13.3%27.3%23.7%1.5%0.3%89.9M-2.05B-22.7M0.1146.63N/AN/A125,54713,2192,855,7251,694,668
2025-10-06$30.37$30.0023.4%6.9%13.3%27.9%24.9%1.3%21.0%96.6M-2.09B-22.9M1.0964.72N/AN/A14,11515,3542,934,7531,670,653
2025-10-07$29.69$30.0023.6%6.8%15.8%28.5%25.7%1.7%0.3%63.2M-1.39B-21.3M0.2347.96N/AN/A432,53898,8532,821,4971,677,926
2025-10-08$29.87$30.0023.3%6.8%15.6%27.5%24.0%1.5%-11.4%65.8M-1.47B-20.4M1.5453.93N/AN/A21,66233,3312,729,4051,655,959
2025-10-09$29.69$30.0023.2%6.7%15.5%27.3%26.4%1.6%0.3%69.8M-1.36B-20.0M1.5453.70N/AN/A40,04561,7212,737,5601,639,583
2025-10-10$28.86$30.0032.4%7.4%18.4%55.2%26.9%2.5%13.9%13.0M-612.6M-19.9M1.4150.73N/AN/A98,520139,2782,760,8141,677,656
2025-10-13$29.20$30.0023.3%7.3%18.1%27.5%25.6%9.2%-1.8%48.1M-986.9M-19.6M0.5549.43N/AN/A16,3588,9412,722,6681,650,251
2025-10-14$29.09$30.0031.5%7.4%17.7%52.7%27.8%7.5%-3.7%41.8M-910.6M-19.6M0.7946.92N/AN/A54,33743,1592,733,9511,647,987
2025-10-15$29.38$29.0029.8%7.5%17.9%47.3%26.9%-9.7%-3.6%62.3M-1.12B-19.9M0.8549.60N/AN/A40,48034,3692,747,0871,693,467
2025-10-16$29.24$29.0026.8%7.4%17.9%38.2%25.5%7.7%3.8%42.0M-976.9M-19.5M0.9652.39N/AN/A69,52166,5042,775,2601,700,585
2025-10-17$29.73$29.0032.7%7.0%19.1%56.2%28.2%17.0%-7.8%48.7M-1.34B-20.3M2.1052.18N/AN/A27,50557,8092,783,7121,707,964
2025-10-20$30.23$29.0025.1%7.2%20.2%33.1%24.3%2.4%-0.1%60.0M-1.35B-20.3M0.1054.36N/AN/A41,3684,2282,430,2141,444,750
2025-10-21$29.99$29.0024.5%7.0%19.2%31.1%24.8%1.4%0.2%60.0M-1.23B-19.9M1.9139.04N/AN/A35,81368,5092,459,5861,445,585
2025-10-22$30.05$29.5024.3%7.0%19.1%30.7%24.4%2.1%0.9%62.0M-1.25B-19.9M0.1447.61N/AN/A45,0166,3412,475,0841,510,229
2025-10-23$30.46$29.5023.9%6.8%19.3%29.5%25.5%1.8%2.0%76.5M-1.56B-20.5M0.9446.36N/AN/A25,51023,9282,512,8911,515,609
2025-10-24$30.46$29.5022.7%6.6%19.3%25.7%23.3%1.8%-0.4%78.0M-1.57B-20.6M0.2852.38N/AN/A51,33414,3802,527,2241,527,555
2025-10-27$30.77$29.5022.5%6.7%19.3%25.1%23.6%-0.3%-4.4%84.8M-1.76B-21.0M0.8649.01N/AN/A30,48426,2702,536,4251,529,917
2025-10-28$30.89$29.5025.1%6.6%19.4%33.2%23.5%-1.6%-0.3%90.2M-1.84B-21.2M0.2247.54N/AN/A27,4496,0932,554,1061,549,484
2025-10-29$31.14$29.5040.8%6.7%19.2%80.8%23.8%1.7%-3.0%98.5M-2.02B-21.4M0.5470.97N/AN/A45,27824,5592,563,2811,552,757
2025-10-30$31.05$30.0024.0%6.4%18.7%29.9%25.1%3.0%3.0%89.5M-1.88B-21.3M1.5246.22N/AN/A83,711126,9712,561,6601,570,951
2025-10-31$31.16$30.0027.9%6.5%18.7%41.7%23.7%4.9%2.9%87.4M-1.94B-21.4M3.4651.99N/AN/A13,22745,7762,584,6971,640,623