W Options History — December 2015

In December 2015, W traded between $37.93 and $49.59. ATM implied volatility averaged 68.8%, placing in the 25.0% IV rank vs the trailing year. The 30-day expected move averaged 20.6%. IV traded above realized volatility by 1.5% (HV 20d: 67.3%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 10 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.68.

Notable Days

  • 2015-12-03: Highest Volume — 7,983 contracts
  • 2015-12-11: Largest IV spike — 16.4% change
  • 2015-12-14: Highest IV Rank — 32.6%
  • 2015-12-11: Largest Expected Move — 22.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.08$37.93$49.59$37.93$47.81
Max Pain$42.27$40.00$45.00$45.00$45.00
ATM IV68.8%63.6%74.1%66.3%66.2%
Expected Move20.6%19.3%22.3%21.2%20.1%
HV 20d67.3%44.4%94.7%85.4%44.4%
HV 60d70.0%65.1%71.7%69.0%65.1%
IV Rank25.0%17.5%32.6%21.5%21.3%
IV Percentile34.9%25.4%49.2%29.0%29.4%
Term Structure1.0%-4.3%6.9%0.2%-0.8%
VWIV71.4%64.8%79.4%75.4%65.9%
Skew 25d7.5%2.7%12.3%4.6%6.3%
Skew 10d23.5%11.3%53.4%38.3%12.2%
Call IV 25d66.0%59.5%73.3%67.2%64.0%
Put IV 25d73.6%67.4%80.0%71.9%70.3%
Bid-Ask Spread %67.7358.8574.8672.1874.09
Gamma HHI0.230.100.460.140.24
Net GEX7.8K-786.7K634.4K-90.6K429.5K
Net DEX-21.2M-41.6M14.4M14.4M-27.8M
Net VEX-152.3K-174.0K-137.7K-140.1K-139.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.341.450.660.60
Total Volume4,708.4556037,9836034,448
Total OI32,127.68225,71336,21729,78329,747

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-12-01$37.93$45.0066.3%21.2%85.4%21.5%75.4%4.6%0.2%-90.6K14.4M-140.1K0.6672.18N/AN/A36324013,06316,720
2015-12-02$41.95$45.0066.6%20.0%92.9%21.9%72.2%5.6%-0.8%-131.3K-2.9M-156.9K0.9662.66N/AN/A3,4423,30413,37616,896
2015-12-03$41.06$40.0066.6%20.6%92.6%21.9%74.4%5.0%-1.0%-160.7K2.6M-164.2K1.4569.99N/AN/A3,2614,72214,80118,366
2015-12-04$42.49$40.0066.1%20.8%93.1%21.1%64.8%2.7%-0.0%-306.4K-2.6M-174.0K0.6374.79N/AN/A3,5092,21115,91920,176
2015-12-07$44.75$40.0066.9%20.8%94.7%22.4%74.0%4.6%6.5%-273.4K-13.9M-166.6K0.6666.45N/AN/A2,0541,35714,81619,218
2015-12-08$45.88$40.0067.6%20.3%94.1%23.3%66.8%5.1%2.9%-180.7K-19.3M-167.9K0.7066.30N/AN/A2,2581,57615,43618,775
2015-12-09$45.20$40.0072.8%21.8%72.3%30.8%75.3%12.3%3.4%-193.2K-18.3M-171.6K0.6562.70N/AN/A2,8881,88615,55218,955
2015-12-10$47.22$40.0063.6%20.1%69.2%17.5%68.0%8.0%5.8%-109.9K-27.2M-165.2K0.7470.44N/AN/A2,4241,80416,50019,429
2015-12-11$44.64$40.0074.0%22.3%65.1%32.6%79.4%11.5%4.5%-374.1K-15.2M-171.6K0.9567.66N/AN/A2,2732,16016,50619,711
2015-12-14$46.05$40.0074.1%21.7%61.0%32.6%72.7%6.7%2.4%-786.7K-20.0M-149.1K0.6468.18N/AN/A2,4391,56615,46219,280
2015-12-15$45.74$40.0073.0%20.9%61.2%31.1%70.2%7.2%-3.3%-494.4K-21.4M-153.4K0.7465.94N/AN/A2,1541,59815,96419,305
2015-12-16$46.75$40.0072.6%20.8%58.7%30.5%69.2%10.1%-4.3%-604.9K-27.0M-149.5K0.7766.53N/AN/A3,5172,72316,03919,330
2015-12-17$46.82$40.0070.3%20.3%58.5%27.2%72.5%8.8%-3.4%127.3K-32.4M-145.7K0.4870.88N/AN/A3,1461,52416,40918,871
2015-12-18$48.15$40.0068.5%19.3%58.4%24.7%68.6%9.9%6.9%210.2K-41.6M-138.7K0.4567.13N/AN/A3,9241,74816,69018,833
2015-12-21$47.96$45.0068.0%20.5%57.5%23.9%72.7%6.9%0.1%282.8K-26.4M-143.3K0.8958.85N/AN/A2,6012,30313,22612,487
2015-12-22$48.37$45.0068.3%20.3%54.6%24.3%75.0%8.5%0.1%261.7K-26.4M-146.3K0.8958.96N/AN/A2,3932,12813,64013,700
2015-12-23$49.59$45.0067.7%19.9%51.5%23.4%68.3%8.4%0.1%363.3K-32.0M-140.3K0.4468.29N/AN/A3,7361,63113,79613,826
2015-12-24$47.92$45.0066.3%20.1%53.9%21.4%68.4%11.4%3.3%486.7K-29.0M-150.1K0.3765.60N/AN/A4,0331,50515,13314,048
2015-12-28$48.91$45.0069.6%22.1%53.9%26.2%74.8%10.0%2.1%467.7K-31.5M-137.7K0.3474.86N/AN/A3,6041,23314,74613,856
2015-12-29$49.43$45.0070.0%19.8%53.5%26.8%71.4%6.8%-1.2%614.6K-34.6M-140.4K0.4668.06N/AN/A2,6261,20415,01913,971
2015-12-30$49.15$45.0068.4%19.9%53.7%24.5%70.3%5.5%-1.8%634.4K-34.0M-138.8K0.5269.41N/AN/A2,6831,38715,19314,023
2015-12-31$47.81$45.0066.2%20.1%44.4%21.3%65.9%6.3%-0.8%429.5K-27.8M-139.0K0.6074.09N/AN/A2,7721,67615,52914,218