EWZ Options History — March 2026

In March 2026, EWZ traded between $35.00 and $38.64. ATM implied volatility averaged 37.5%, placing in the 71.7% IV rank vs the trailing year. The 30-day expected move averaged 10.9%. IV traded above realized volatility by 1.6% (HV 20d: 35.9%). Max pain ranged from $35.00 to $36.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.57.

Notable Days

  • 2026-03-20: Highest Volume — 436,286 contracts
  • 2026-03-03: Largest IV spike — 23.2% change
  • 2026-03-20: Highest IV Rank — 88.1%
  • 2026-03-24: Largest Expected Move — 15.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.81$35.00$38.64$38.64$38.22
Max Pain$35.36$35.00$36.00$35.00$36.00
ATM IV37.5%31.5%41.3%31.5%37.2%
Expected Move10.9%9.0%15.3%9.0%10.7%
HV 20d35.9%24.0%42.9%24.0%41.5%
HV 60d30.9%29.1%33.1%29.4%33.1%
IV Rank71.7%56.3%88.1%56.3%58.8%
IV Percentile93.9%86.5%97.6%86.5%91.3%
Term Structure-0.3%-15.3%4.2%2.1%0.4%
VWIV37.5%32.0%43.9%32.0%37.3%
Skew 25d5.6%-15.2%14.9%2.9%5.3%
Skew 10d13.6%-3.0%30.8%9.5%11.7%
Call IV 25d35.3%23.2%59.2%29.7%35.3%
Put IV 25d40.9%32.5%47.8%32.5%40.6%
Bid-Ask Spread %22.926.4646.1046.106.46
Gamma HHI0.080.070.100.100.08
Net GEX143.7M74.2M224.3M224.3M143.3M
Net DEX-3.87B-6.17B-2.18B-6.17B-4.24B
Net VEX-28.4M-30.6M-26.1M-30.4M-28.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.081.620.170.08
Total Volume152,812.40940,044436,28694,637377,441
Total OI5,143,336.1824,319,9715,560,2745,303,9874,543,012

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-03-02$38.64$35.0031.5%9.0%24.0%56.3%32.0%2.9%2.1%224.3M-6.17B-30.4M0.1746.10N/AN/A80,58914,0483,647,7021,656,285
2026-03-03$36.73$35.0038.9%12.4%30.2%80.1%43.0%-1.6%-1.7%166.6M-4.31B-30.2M0.3641.26N/AN/A210,51075,8133,673,7691,658,931
2026-03-04$37.66$35.0034.8%10.7%30.9%66.7%39.2%4.2%0.2%195.8M-5.25B-30.6M0.4531.63N/AN/A81,41436,2263,735,2341,694,487
2026-03-05$36.34$36.0036.3%10.2%32.1%71.9%34.6%5.7%-1.3%158.4M-3.84B-29.7M1.6232.54N/AN/A25,20040,7563,759,4651,711,725
2026-03-06$36.14$36.0038.4%10.7%32.1%78.7%36.1%7.1%-0.9%140.7M-3.63B-29.4M0.2224.49N/AN/A198,06642,5953,760,2801,720,321
2026-03-09$37.16$35.0036.6%10.2%33.1%72.8%35.1%7.3%-1.2%179.3M-4.56B-29.5M0.5531.47N/AN/A62,41134,1803,725,5721,726,189
2026-03-10$37.58$35.0034.9%9.7%32.1%67.2%33.5%5.5%-0.8%198.8M-5.08B-29.6M0.4127.61N/AN/A59,24824,0783,743,3821,731,055
2026-03-11$37.59$35.0034.4%9.6%32.1%65.6%32.2%14.9%-0.9%198.8M-5.10B-29.5M0.2929.77N/AN/A59,37917,1903,771,2361,727,029
2026-03-12$36.14$35.0037.9%10.1%33.7%76.9%34.0%7.9%0.5%151.2M-3.57B-28.2M0.6816.02N/AN/A156,350106,2583,777,0781,736,458
2026-03-13$35.36$35.0038.8%11.2%34.0%79.8%39.0%7.6%0.7%112.4M-2.65B-26.8M1.1716.06N/AN/A57,02466,6223,659,3531,796,329
2026-03-16$36.45$35.0037.2%10.6%35.8%74.8%37.5%5.9%2.3%147.5M-3.69B-27.5M1.1122.83N/AN/A47,96553,2193,676,3591,798,571
2026-03-17$36.66$35.0035.1%10.1%35.9%67.9%35.1%5.4%3.7%149.2M-3.83B-27.8M0.2421.48N/AN/A148,18235,8163,695,9541,826,665
2026-03-18$36.41$35.0036.3%10.5%35.9%71.8%36.0%6.1%3.6%136.8M-3.57B-27.5M0.3829.12N/AN/A29,04111,0033,722,1051,838,169
2026-03-19$36.50$35.0037.2%10.6%35.2%74.8%36.4%6.1%1.7%129.1M-3.67B-27.8M0.6322.94N/AN/A76,78047,9953,675,5701,835,585
2026-03-20$35.00$35.0041.3%11.8%36.8%88.1%43.1%9.7%4.2%74.2M-2.18B-26.1M0.2526.23N/AN/A349,23587,0513,686,1401,830,401
2026-03-23$36.95$35.0038.0%11.0%42.4%77.3%37.8%8.5%0.5%111.5M-3.41B-27.2M0.3110.52N/AN/A133,19440,9962,959,5611,360,410
2026-03-24$36.73$36.0040.1%15.3%41.8%84.3%38.6%-15.2%-15.3%110.9M-3.28B-27.1M0.5915.56N/AN/A68,71640,4693,003,7461,385,532
2026-03-25$37.47$36.0037.4%11.0%42.5%59.4%37.3%9.3%-0.1%124.5M-3.73B-28.1M0.9716.61N/AN/A61,08359,2642,986,0441,424,360
2026-03-26$36.80$36.0041.0%11.8%42.8%68.7%40.9%6.5%-1.4%105.5M-3.26B-28.2M1.4514.18N/AN/A36,53452,9832,992,8001,472,994
2026-03-27$36.50$36.0041.2%12.2%42.8%69.1%43.3%6.8%-3.3%95.9M-3.04B-27.9M0.2514.62N/AN/A78,87519,6593,005,7541,497,791
2026-03-30$36.69$36.0040.5%11.6%42.9%67.4%43.9%7.1%-0.6%106.0M-3.15B-27.8M0.346.65N/AN/A43,44614,9693,028,4701,495,523
2026-03-31$38.22$36.0037.2%10.7%41.5%58.8%37.3%5.3%0.4%143.3M-4.24B-28.3M0.086.46N/AN/A349,66427,7773,039,3661,503,646