W Options History — November 2014

In November 2014, W traded between $21.27 and $27.86. ATM implied volatility averaged 72.8%. The 30-day expected move averaged 19.5%. IV traded below realized volatility by 13.0% (HV 20d: 85.8%). Max pain ranged from $20.00 to $25.00. Net GEX was positive for 7 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 2.01.

Notable Days

  • 2014-11-14: Highest Volume — 1,322 contracts
  • 2014-11-11: Largest IV drop — 42.1% change
  • 2014-11-28: Largest Expected Move — 21.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.73$21.27$27.86$25.69$24.26
Max Pain$23.29$20.00$25.00$25.00$22.50
ATM IV72.8%60.9%109.9%65.1%66.6%
Expected Move19.5%17.8%21.4%17.9%21.4%
HV 20d85.8%82.9%94.2%94.2%83.0%
Term Structure-2.8%-20.3%3.4%3.4%2.9%
VWIV69.1%61.3%83.5%61.3%79.4%
Skew 25d15.1%9.3%21.0%11.6%20.5%
Skew 10d30.6%6.4%48.5%6.4%27.9%
Call IV 25d59.7%51.3%67.4%63.4%55.7%
Put IV 25d74.7%72.3%77.0%75.0%76.2%
Bid-Ask Spread %42.8120.6977.1577.1531.37
Gamma HHI0.400.200.740.540.20
Net GEX-4.9K-25.4K26.7K6.1K-9.4K
Net DEX398.9K-835.1K1.4M-169.7K15.7K
Net VEX-3.8K-6.9K-651-651-6.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.010.0713.060.073.14
Total Volume358.474361,32212958
Total OI1,842.5262593,2212592,777

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-11-03$25.69$25.0065.1%17.9%0.0%0.0%61.3%0.0%3.4%6.1K-169.7K-6510.0777.15N/AN/A120920851
2014-11-04$26.05$25.0081.8%19.7%0.0%0.0%67.4%0.0%-12.1%6.5K-190.8K-6590.0867.50N/AN/A116921251
2014-11-05$25.39$25.0089.1%20.1%0.0%0.0%70.4%0.0%-6.2%7.1K-211.2K-8250.1268.41N/AN/A74925951
2014-11-06$25.67$25.0086.0%20.2%0.0%0.0%62.4%0.0%-20.3%9.6K-286.5K-1.2K0.2556.85N/AN/A2466232651
2014-11-07$26.03$25.0083.3%18.8%0.0%0.0%64.1%0.0%-3.4%12.6K-409.5K-2.0K0.1835.01N/AN/A41775448104
2014-11-10$27.86$25.00109.9%17.8%0.0%0.0%63.3%0.0%-10.0%26.7K-835.1K-2.6K2.8336.59N/AN/A200565696119
2014-11-11$23.65$25.0063.7%18.2%0.0%0.0%64.2%0.0%-1.2%10.0K-181.3K-1.6K0.9739.83N/AN/A173167688119
2014-11-12$21.27$22.5063.6%18.2%0.0%0.0%69.1%0.0%0.8%-12.0K1.0M-2.4K0.6342.95N/AN/A227144910712
2014-11-13$22.00$22.5060.9%18.1%94.2%0.0%63.8%11.6%-1.0%-10.3K911.7K-2.9K1.9138.18N/AN/A1462791,063726
2014-11-14$21.57$22.5065.8%18.8%91.0%0.0%83.5%13.0%-2.5%-11.8K987.6K-3.2K13.0633.07N/AN/A941,2281,111872
2014-11-17$21.61$22.5067.1%19.2%88.3%0.0%69.0%10.3%-3.1%-18.4K1.4M-5.7K1.6451.51N/AN/A1552541,1771,982
2014-11-18$22.14$22.5065.8%19.3%86.7%0.0%71.3%11.9%0.8%-22.8K1.4M-5.4K1.9842.88N/AN/A1392751,1811,984
2014-11-19$22.29$20.0066.0%20.1%84.4%0.0%68.7%16.0%1.6%-18.5K1.4M-5.9K3.5055.34N/AN/A8281,1922,000
2014-11-20$23.03$22.5067.4%20.0%83.4%0.0%70.2%18.6%3.2%-15.2K1.2M-5.5K0.9632.02N/AN/A1631561,1932,013
2014-11-21$22.28$22.5070.9%21.1%83.3%0.0%73.9%18.0%2.3%-25.4K1.3M-5.6K2.4930.07N/AN/A1634061,1982,023
2014-11-24$23.00$22.5074.2%21.2%82.9%0.0%66.2%15.6%-2.9%-13.2K234.8K-5.9K0.5427.50N/AN/A105576791,690
2014-11-25$23.24$22.5070.8%20.9%83.0%0.0%72.2%9.3%-7.4%-7.2K81.1K-6.2K1.8826.52N/AN/A1192247491,745
2014-11-26$23.90$22.5065.0%19.4%83.4%0.0%73.1%21.0%1.0%-8.2K68.6K-6.6K1.8820.69N/AN/A49927711,877
2014-11-28$24.26$22.5066.6%21.4%83.0%0.0%79.4%20.5%2.9%-9.4K15.7K-6.9K3.1431.37N/AN/A14448111,966