W Options History — May 2018

In May 2018, W traded between $65.23 and $94.99. ATM implied volatility averaged 39.0%, placing in the 5.6% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded below realized volatility by 29.0% (HV 20d: 67.9%). Max pain ranged from $67.50 to $87.50. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 1.24.

Notable Days

  • 2018-05-02: Highest Volume — 25,504 contracts
  • 2018-05-02: Largest IV drop — 35.4% change
  • 2018-05-01: Highest IV Rank — 66.2%
  • 2018-05-01: Largest Expected Move — 23.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$84.10$65.23$94.99$65.23$92.00
Max Pain$78.32$67.50$87.50$75.00$87.50
ATM IV39.0%34.7%67.5%67.5%41.9%
Expected Move11.4%9.8%23.8%23.8%11.8%
HV 20d67.9%33.6%75.1%50.6%33.6%
HV 60d67.6%54.8%77.3%69.3%56.0%
IV Rank5.6%0.0%66.2%66.2%15.4%
IV Percentile6.3%0.0%83.3%83.3%15.1%
Term Structure-0.3%-5.4%1.7%-5.4%-2.9%
VWIV41.1%34.7%80.5%80.5%43.1%
Skew 25d6.2%4.9%9.6%9.6%7.8%
Skew 10d12.7%10.9%18.4%18.4%14.4%
Call IV 25d36.0%32.2%62.0%62.0%37.3%
Put IV 25d42.2%37.6%71.6%71.6%45.0%
Bid-Ask Spread %15.8910.7024.7514.8016.60
Gamma HHI0.160.060.360.080.06
Net GEX1.0M-918.7K3.6M660.5K-313.4K
Net DEX-100.5M-168.3M7.9M7.9M-62.5M
Net VEX-407.6K-496.2K-356.9K-356.9K-496.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.240.492.590.491.74
Total Volume10,530.8186,65025,50418,3378,867
Total OI51,491.90935,10367,01056,52743,448

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-05-01$65.23$75.0067.5%23.8%50.6%66.2%80.5%9.6%-5.4%660.5K7.9M-356.9K0.4914.80N/AN/A12,3286,00931,32825,199
2018-05-02$75.70$70.0043.6%13.4%73.0%9.4%49.7%7.2%-1.0%3.6M-121.4M-416.6K0.8716.86N/AN/A13,64311,86135,84528,925
2018-05-03$76.16$67.5039.7%11.5%73.0%0.2%44.2%7.2%0.7%3.1M-109.4M-417.6K1.0713.06N/AN/A6,1056,50334,41232,184
2018-05-04$80.57$70.0038.0%11.0%74.3%0.0%38.7%6.6%0.4%2.0M-168.3M-398.3K0.9421.98N/AN/A7,7717,33634,63132,379
2018-05-07$82.18$70.0039.0%11.1%74.3%2.3%39.2%6.6%-0.2%1.4M-117.1M-384.1K1.1414.17N/AN/A4,5205,15225,90527,761
2018-05-08$84.73$72.5038.7%11.1%74.7%1.6%41.3%6.1%0.2%1.3M-139.5M-387.3K1.4516.76N/AN/A4,3326,27026,45529,112
2018-05-09$82.80$77.5038.7%11.4%75.1%1.6%41.2%6.4%1.2%898.8K-116.9M-407.7K1.4122.00N/AN/A4,3156,10027,04030,474
2018-05-10$83.48$77.5038.1%11.2%75.1%0.1%39.0%6.6%1.7%915.3K-126.6M-401.9K1.0816.74N/AN/A4,0004,30727,81931,481
2018-05-11$84.57$77.5036.2%10.5%74.2%0.0%39.1%5.0%0.4%1.3M-140.9M-398.4K1.0515.16N/AN/A3,9534,13828,31631,995
2018-05-14$83.79$80.0037.1%10.6%74.2%1.9%38.4%5.4%-0.2%832.7K-121.8M-384.7K1.0417.10N/AN/A3,2573,39326,36229,809
2018-05-15$84.39$80.0037.0%10.6%73.5%1.8%38.1%5.7%0.7%727.5K-128.0M-385.3K1.3316.50N/AN/A3,0364,03626,81430,031
2018-05-16$84.94$80.0036.3%10.4%73.5%0.1%37.4%5.9%0.1%120.3K-132.8M-380.9K1.1916.39N/AN/A3,1893,80126,85730,813
2018-05-17$85.94$80.0035.6%10.2%73.2%0.0%36.0%4.9%-0.5%-918.7K-144.5M-375.6K1.2313.45N/AN/A3,2984,05727,13731,312
2018-05-18$85.75$80.0036.0%10.4%73.4%0.8%36.2%5.4%-1.2%56.7K-145.3M-381.1K0.7812.10N/AN/A6,3894,98027,77131,756
2018-05-21$85.53$82.5035.2%10.1%72.2%0.0%36.5%5.3%0.7%930.5K-51.3M-418.9K0.9310.70N/AN/A4,7694,42316,46418,639
2018-05-22$84.76$82.5034.7%9.9%66.3%0.0%34.7%5.4%0.5%665.6K-45.3M-420.3K0.8411.92N/AN/A4,7494,00716,67719,181
2018-05-23$85.40$82.5035.5%10.0%65.5%1.9%35.6%5.3%0.0%662.5K-48.2M-421.3K1.1111.68N/AN/A3,8414,25416,59619,474
2018-05-24$86.53$82.5034.8%9.8%65.5%0.2%35.4%5.4%0.3%1.2M-57.3M-423.6K1.4313.05N/AN/A3,0234,33017,18719,705
2018-05-25$89.81$82.5035.3%9.8%64.9%1.4%36.0%6.2%0.1%2.0M-78.7M-422.3K1.4619.54N/AN/A4,2246,16917,37619,912
2018-05-29$90.95$82.5040.0%11.3%57.3%11.4%41.4%6.5%-1.9%801.0K-73.6M-441.6K2.0414.31N/AN/A3,4797,08717,19020,700
2018-05-30$94.99$83.0038.2%11.4%57.0%7.5%41.3%6.3%-0.7%500.1K-90.7M-446.8K2.5924.75N/AN/A2,8947,48317,51222,838
2018-05-31$92.00$87.5041.9%11.8%33.6%15.4%43.1%7.8%-2.9%-313.4K-62.5M-496.2K1.7416.60N/AN/A3,2365,63117,93525,513