EWZ Options History — February 2026

In February 2026, EWZ traded between $36.89 and $39.56. ATM implied volatility averaged 31.5%, placing in the 56.0% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded above realized volatility by 3.2% (HV 20d: 28.3%). Max pain ranged from $33.00 to $35.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.81.

Notable Days

  • 2026-02-10: Highest Volume — 280,872 contracts
  • 2026-02-05: Largest IV spike — 35.7% change
  • 2026-02-05: Highest IV Rank — 87.2%
  • 2026-02-03: Largest Expected Move — 9.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.34$36.89$39.56$37.41$38.78
Max Pain$34.16$33.00$35.00$35.00$35.00
ATM IV31.5%27.6%41.0%28.7%31.5%
Expected Move8.8%8.4%9.3%8.4%8.6%
HV 20d28.3%25.9%31.1%25.9%26.8%
HV 60d29.3%28.4%29.9%28.7%29.6%
IV Rank56.0%43.4%87.2%47.1%56.0%
IV Percentile84.9%69.4%97.6%79.8%86.5%
Term Structure-0.3%-12.8%8.8%-0.2%5.2%
VWIV31.4%29.6%34.2%30.0%31.0%
Skew 25d2.0%-9.7%12.6%8.7%5.8%
Skew 10d2.6%-22.4%23.2%0.9%4.5%
Call IV 25d31.6%18.4%49.1%18.4%27.5%
Put IV 25d33.5%27.2%42.0%27.2%33.3%
Bid-Ask Spread %31.9815.7049.7545.9530.92
Gamma HHI0.110.090.160.090.10
Net GEX240.7M202.8M317.8M231.7M231.0M
Net DEX-6.63B-8.38B-5.31B-6.02B-6.38B
Net VEX-31.2M-32.1M-30.3M-31.3M-31.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.102.960.752.96
Total Volume156,977.47422,237280,872159,513101,446
Total OI5,481,9885,028,9185,858,4205,287,3965,266,609

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-02-02$37.41$35.0028.7%8.4%25.9%47.1%30.0%8.7%-0.2%231.7M-6.02B-31.3M0.7545.95N/AN/A91,17168,3423,675,6101,611,786
2026-02-03$38.06$35.0038.4%9.3%25.9%78.7%34.2%12.6%-12.8%231.3M-6.60B-31.6M0.8149.75N/AN/A140,848114,3013,611,5321,622,735
2026-02-04$37.05$35.0030.2%9.3%28.5%52.0%33.1%4.0%-0.2%214.6M-5.53B-31.3M1.2344.58N/AN/A84,807104,1673,673,2371,674,652
2026-02-05$36.89$33.0041.0%9.0%28.0%87.2%31.4%-8.8%-10.7%202.8M-5.31B-31.1M0.7938.64N/AN/A91,50172,2133,683,8371,743,205
2026-02-06$37.50$34.0030.6%8.7%28.3%53.2%31.5%-1.2%-2.6%219.0M-5.89B-31.3M2.9336.27N/AN/A19,69057,7433,688,0421,801,434
2026-02-09$38.44$34.0032.1%8.7%29.0%57.9%30.9%1.3%-1.5%258.3M-6.97B-31.2M0.1619.43N/AN/A174,12427,6673,706,5331,838,236
2026-02-10$38.38$34.0029.2%8.4%28.8%48.6%30.7%1.5%0.6%270.4M-6.94B-31.0M0.3219.33N/AN/A213,38367,4893,733,5111,852,738
2026-02-11$39.20$34.0030.3%8.5%28.5%52.3%30.2%1.7%-0.2%292.0M-8.07B-32.1M0.4117.35N/AN/A163,26266,4223,838,9791,891,613
2026-02-12$38.58$34.0031.3%8.6%29.8%55.4%31.2%0.6%-1.4%274.6M-7.13B-32.0M2.6538.93N/AN/A48,275127,9173,836,9421,927,004
2026-02-13$37.95$34.0030.7%8.9%31.0%53.6%31.4%3.2%0.4%231.8M-6.31B-32.0M0.5325.52N/AN/A100,89853,9723,839,2921,970,162
2026-02-17$37.70$34.0031.8%9.0%31.1%56.9%32.9%2.9%0.7%224.9M-5.96B-31.0M0.1928.99N/AN/A18,6433,5943,843,9101,933,781
2026-02-18$37.89$34.0032.1%9.2%31.0%58.0%32.3%2.4%3.8%241.6M-6.21B-30.8M0.2446.39N/AN/A101,44324,5173,832,8141,938,877
2026-02-19$38.53$34.0031.4%8.9%28.5%55.6%31.8%2.4%1.0%317.8M-7.08B-30.7M0.3118.98N/AN/A62,03119,3673,878,1791,951,472
2026-02-20$39.28$34.0030.8%8.8%27.6%53.7%31.7%2.4%1.9%225.7M-8.38B-30.8M0.2138.10N/AN/A125,30526,8813,896,7341,961,686
2026-02-23$38.75$34.0027.6%8.9%27.7%43.4%31.0%-3.5%8.8%215.5M-6.29B-30.3M0.1015.70N/AN/A139,44513,8583,481,0291,547,889
2026-02-24$39.42$34.0030.4%8.7%28.1%52.4%31.3%-9.7%1.5%223.5M-6.92B-30.6M0.4437.71N/AN/A90,37140,1483,501,9841,554,633
2026-02-25$39.56$34.0030.0%8.5%26.4%51.4%31.0%3.5%1.2%227.2M-7.15B-30.7M0.1225.10N/AN/A180,30921,9573,518,3361,583,425
2026-02-26$39.14$34.0029.7%8.4%26.5%50.3%29.6%8.0%-0.5%238.7M-6.78B-31.3M0.2130.07N/AN/A103,57021,4953,650,3171,595,017
2026-02-27$38.78$35.0031.5%8.6%26.8%56.0%31.0%5.8%5.2%231.0M-6.38B-31.1M2.9630.92N/AN/A25,63975,8073,656,6291,609,980