W Options History — July 2018

In July 2018, W traded between $109.28 and $126.72. ATM implied volatility averaged 69.9%, placing in the 74.2% IV rank vs the trailing year. The 30-day expected move averaged 20.3%. IV traded above realized volatility by 32.4% (HV 20d: 37.5%). Max pain ranged from $110.00 to $125.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 1.95.

Notable Days

2018-07-30: Highest Volume — 18,920 contracts
2018-07-06: Largest IV spike — 8.6% change
2018-07-30: Highest IV Rank — 100.0%
2018-07-30: Largest Expected Move — 29.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$119.94	$109.28	$126.72	$115.64	$109.28
Max Pain	$116.57	$110.00	$125.00	$112.00	$120.00
ATM IV	69.9%	60.3%	85.0%	60.3%	77.8%
Expected Move	20.3%	14.0%	29.1%	14.7%	26.8%
HV 20d	37.5%	34.4%	41.5%	41.5%	40.5%
HV 60d	48.4%	37.5%	51.6%	51.4%	38.5%
IV Rank	74.2%	54.4%	100.0%	54.4%	85.6%
IV Percentile	86.5%	69.4%	100.0%	69.4%	98.0%
Term Structure	-2.6%	-5.8%	6.6%	5.4%	-5.1%
VWIV	74.3%	50.3%	100.7%	52.3%	92.9%
Skew 25d	12.0%	10.9%	14.0%	12.0%	13.0%
Skew 10d	25.0%	22.4%	31.7%	22.4%	26.6%
Call IV 25d	64.3%	57.8%	76.8%	57.8%	70.8%
Put IV 25d	76.3%	69.5%	90.8%	69.8%	83.8%
Bid-Ask Spread %	13.11	8.11	24.09	24.09	18.52
Gamma HHI	0.08	0.06	0.11	0.09	0.07
Net GEX	-2.7M	-4.6M	-475.7K	-2.7M	-3.8M
Net DEX	-54.9M	-111.6M	48.8M	-46.4M	48.8M
Net VEX	-893.3K	-1.0M	-825.5K	-870.7K	-1.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.95	1.08	4.40	4.40	1.43
Total Volume	10,978.857	6,635	18,920	12,562	14,378
Total OI	71,084.524	61,263	83,379	61,263	83,379

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-07-02	$115.64	$112.00	60.3%	14.7%	41.5%	54.4%	52.3%	12.0%	5.4%	-2.7M	-46.4M	-870.7K	4.40	24.09	N/A	N/A	2,328	10,234	17,943	43,320
2018-07-03	$115.94	$111.00	63.2%	14.0%	41.2%	60.6%	50.3%	11.1%	4.1%	-2.8M	-47.5M	-873.9K	4.28	14.20	N/A	N/A	2,319	9,925	18,210	44,781
2018-07-05	$117.62	$110.00	64.8%	18.9%	39.5%	64.1%	70.9%	10.9%	6.6%	-2.4M	-60.9M	-856.5K	1.57	15.73	N/A	N/A	2,583	4,052	18,383	44,953
2018-07-06	$121.53	$110.00	70.4%	18.7%	38.1%	75.9%	71.8%	12.3%	-3.5%	-1.4M	-89.7M	-825.5K	1.52	13.49	N/A	N/A	3,428	5,225	18,786	45,327
2018-07-09	$121.12	$110.00	70.6%	19.1%	36.7%	76.3%	73.1%	11.8%	-3.3%	-2.1M	-83.0M	-842.3K	1.93	14.52	N/A	N/A	2,794	5,406	18,837	45,463
2018-07-10	$120.75	$110.00	68.1%	18.6%	36.3%	71.1%	71.1%	11.3%	-2.3%	-2.2M	-80.8M	-849.3K	1.69	12.78	N/A	N/A	3,208	5,420	19,226	46,452
2018-07-11	$117.55	$110.00	70.2%	18.9%	36.6%	75.5%	72.3%	12.3%	-4.3%	-2.7M	-55.9M	-896.9K	1.47	10.35	N/A	N/A	3,725	5,458	19,609	48,317
2018-07-12	$118.04	$110.00	68.7%	18.6%	36.4%	72.4%	69.1%	11.6%	-4.5%	-2.2M	-63.8M	-885.7K	1.38	12.07	N/A	N/A	3,848	5,295	20,463	48,935
2018-07-13	$119.00	$110.00	68.0%	18.6%	36.2%	70.9%	68.1%	12.4%	-4.8%	-475.7K	-74.1M	-882.0K	2.22	11.37	N/A	N/A	3,627	8,059	21,470	49,459
2018-07-16	$120.91	$115.00	68.7%	19.4%	36.3%	72.2%	72.5%	11.8%	-3.5%	-2.6M	-77.1M	-877.1K	1.43	12.36	N/A	N/A	3,451	4,937	19,915	49,645
2018-07-17	$124.67	$115.00	67.7%	19.2%	36.7%	70.2%	69.4%	11.3%	-3.4%	-1.8M	-111.6M	-849.3K	3.14	12.62	N/A	N/A	3,502	10,984	20,804	50,064
2018-07-18	$124.00	$115.00	66.9%	19.2%	36.8%	68.5%	71.3%	11.1%	-3.2%	-2.7M	-87.7M	-899.9K	1.26	11.37	N/A	N/A	3,746	4,714	21,107	54,520
2018-07-19	$125.85	$115.00	68.2%	19.7%	36.4%	71.2%	71.2%	10.9%	-3.5%	-1.7M	-107.9M	-854.6K	2.13	17.55	N/A	N/A	4,469	9,528	21,333	53,237
2018-07-20	$126.70	$125.00	67.2%	19.8%	35.3%	69.2%	72.8%	11.9%	-5.2%	-2.0M	-103.5M	-876.7K	1.08	12.26	N/A	N/A	4,524	4,898	21,897	55,775
2018-07-23	$126.72	$125.00	67.3%	20.5%	35.3%	69.4%	74.7%	12.1%	-3.4%	-2.6M	-77.5M	-867.5K	1.84	9.85	N/A	N/A	3,636	6,708	19,988	49,564
2018-07-24	$122.08	$125.00	69.1%	21.0%	34.4%	73.1%	75.4%	11.8%	-2.8%	-3.9M	-38.8M	-912.4K	1.62	8.69	N/A	N/A	3,753	6,087	20,453	52,365
2018-07-25	$125.75	$125.00	69.8%	21.9%	35.2%	74.6%	79.8%	11.5%	-3.7%	-3.8M	-63.3M	-901.0K	1.33	10.94	N/A	N/A	3,821	5,091	21,029	53,381
2018-07-26	$119.57	$125.00	74.5%	23.7%	40.4%	84.7%	86.6%	12.2%	-4.5%	-4.6M	-10.3M	-959.2K	1.14	8.11	N/A	N/A	4,986	5,672	21,804	54,985
2018-07-27	$116.29	$125.00	80.8%	26.0%	36.2%	98.0%	93.1%	13.8%	-5.8%	-4.6M	28.7M	-985.9K	1.74	10.82	N/A	N/A	5,763	10,054	22,821	56,689
2018-07-30	$109.77	$125.00	85.0%	29.1%	41.4%	100.0%	100.7%	14.0%	-4.1%	-3.5M	48.5M	-988.4K	2.25	13.56	N/A	N/A	5,830	13,090	22,400	55,686
2018-07-31	$109.28	$120.00	77.8%	26.8%	40.5%	85.6%	92.9%	13.0%	-5.1%	-3.8M	48.8M	-1.0M	1.43	18.52	N/A	N/A	5,914	8,464	24,095	59,284