EWZ Options History — November 2025

In November 2025, EWZ traded between $31.23 and $33.61. ATM implied volatility averaged 27.7%, placing in the 41.1% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded above realized volatility by 10.2% (HV 20d: 17.5%). Max pain ranged from $30.00 to $32.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 16 of 19 days. Put/call ratio averaged 0.55.

Notable Days

  • 2025-11-11: Highest Volume — 264,861 contracts
  • 2025-11-05: Largest IV spike — 21.9% change
  • 2025-11-26: Highest IV Rank — 63.8%
  • 2025-11-20: Largest Expected Move — 8.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.55$31.23$33.61$31.48$33.61
Max Pain$31.42$30.00$32.00$30.00$32.00
ATM IV27.7%22.8%35.2%22.8%29.8%
Expected Move8.0%6.6%8.6%6.7%8.4%
HV 20d17.5%14.5%20.4%19.0%20.2%
HV 60d18.0%16.8%19.4%18.8%17.6%
IV Rank41.1%26.0%63.8%26.0%47.5%
IV Percentile64.4%15.9%92.1%15.9%81.0%
Term Structure5.5%-4.3%25.9%19.8%-2.2%
VWIV27.4%22.6%30.1%23.4%29.2%
Skew 25d7.3%0.7%23.9%0.7%8.5%
Skew 10d4.0%-28.7%22.4%17.3%14.5%
Call IV 25d23.3%17.3%28.1%17.9%20.7%
Put IV 25d30.6%18.6%43.7%18.6%29.3%
Bid-Ask Spread %53.2942.8374.5774.5747.85
Gamma HHI0.100.090.110.090.10
Net GEX118.5M87.6M150.6M93.5M150.6M
Net DEX-2.93B-3.75B-1.98B-2.11B-3.75B
Net VEX-22.9M-24.5M-21.3M-21.8M-24.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.550.231.290.290.36
Total Volume108,70519,193264,86159,71794,848
Total OI4,495,105.7894,216,5254,834,6814,216,5254,572,689

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$31.48$30.0022.8%6.7%19.0%26.0%23.4%0.7%19.8%93.5M-2.11B-21.8M0.2974.57N/AN/A46,39813,3192,570,5881,645,937
2025-11-04$31.23$30.0023.8%6.6%17.1%29.2%22.6%10.0%25.9%87.6M-1.98B-21.3M0.5755.00N/AN/A58,23532,9562,583,0971,648,709
2025-11-05$32.09$30.0029.0%6.8%19.2%45.1%25.0%8.3%4.0%108.3M-2.64B-22.0M0.6651.35N/AN/A97,27364,4662,586,3881,668,433
2025-11-06$32.11$31.0027.5%7.7%18.9%40.4%28.3%5.6%2.0%115.9M-2.68B-22.5M0.6249.16N/AN/A58,08735,8712,626,8161,724,239
2025-11-07$32.22$31.0026.8%7.6%14.5%38.4%26.2%8.9%8.3%118.6M-2.75B-22.2M0.6549.08N/AN/A11,6637,5302,627,4281,728,279
2025-11-10$32.66$31.0023.6%7.9%14.7%28.5%25.6%4.7%0.4%119.8M-3.08B-22.4M0.2352.01N/AN/A108,02224,8982,622,9111,726,832
2025-11-11$33.50$31.0025.2%7.9%15.8%33.4%27.2%8.1%2.7%129.7M-3.73B-22.8M0.2449.45N/AN/A214,06950,7922,620,8811,732,017
2025-11-12$33.22$31.0024.5%8.0%16.7%31.3%26.2%1.6%3.5%136.0M-3.58B-22.8M0.2454.90N/AN/A114,26427,7802,712,6431,729,727
2025-11-13$32.98$32.0025.8%8.0%16.9%35.1%27.9%20.1%3.1%131.5M-3.33B-23.4M0.5858.35N/AN/A53,00631,0102,785,4611,774,454
2025-11-14$33.14$32.0025.5%8.1%16.4%34.2%26.7%16.1%7.8%132.9M-3.42B-23.6M0.3961.12N/AN/A120,21247,2112,818,8171,790,193
2025-11-17$32.72$32.0028.4%8.5%17.1%43.3%28.5%2.2%3.2%122.0M-3.08B-23.6M1.2950.22N/AN/A40,12051,6812,872,8121,804,922
2025-11-18$32.70$32.0029.3%8.5%16.6%45.8%30.1%2.0%-3.3%117.3M-3.13B-23.9M0.9258.43N/AN/A25,04622,9222,881,9511,822,765
2025-11-19$32.52$32.0029.5%8.5%16.9%46.6%29.4%2.1%0.2%112.7M-2.93B-23.7M0.9757.94N/AN/A64,61162,7522,889,6851,837,060
2025-11-20$31.93$32.0031.7%8.6%18.3%53.2%29.1%2.3%7.2%100.7M-2.33B-22.9M0.2642.83N/AN/A107,71827,7342,927,6831,872,325
2025-11-21$32.09$32.0028.9%8.5%18.3%44.7%29.1%1.9%4.1%103.7M-2.48B-22.7M0.4743.85N/AN/A35,70116,9492,949,2731,885,408
2025-11-24$32.22$32.0030.1%8.6%18.1%48.4%29.6%8.5%-4.3%109.1M-2.45B-22.6M0.7345.11N/AN/A16,84612,2492,802,5191,600,886
2025-11-25$32.53$32.0029.6%7.9%18.2%46.7%27.6%3.5%14.9%120.2M-2.69B-22.6M0.5450.26N/AN/A103,74455,5872,808,4461,609,098
2025-11-26$33.47$32.0035.2%8.4%20.4%63.8%29.3%23.9%7.9%141.1M-3.59B-24.5M0.4561.05N/AN/A75,71534,1102,886,3051,659,333
2025-11-28$33.61$32.0029.8%8.4%20.2%47.5%29.2%8.5%-2.2%150.6M-3.75B-24.1M0.3647.85N/AN/A69,50925,3392,911,4561,661,233