W Options History — March 2019

In March 2019, W traded between $148.49 and $172.16. ATM implied volatility averaged 43.4%, placing in the 14.7% IV rank vs the trailing year. The 30-day expected move averaged 16.1%. IV traded below realized volatility by 35.7% (HV 20d: 79.1%). Max pain ranged from $130.00 to $150.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 1.53.

Notable Days

  • 2019-03-01: Highest Volume — 22,123 contracts
  • 2019-03-22: Largest IV spike — 24.3% change
  • 2019-03-29: Highest IV Rank — 29.8%
  • 2019-03-27: Largest Expected Move — 18.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$164.14$148.49$172.16$169.83$148.49
Max Pain$143.10$130.00$150.00$140.00$150.00
ATM IV43.4%37.6%52.3%45.1%52.3%
Expected Move16.1%12.3%18.7%12.8%18.6%
HV 20d79.1%39.4%94.9%92.4%40.8%
HV 60d70.3%65.8%73.9%73.9%67.0%
IV Rank14.7%5.0%29.8%17.6%29.8%
IV Percentile20.7%4.4%43.7%26.6%43.7%
Term Structure4.9%-1.6%21.3%-0.2%21.3%
VWIV57.5%45.1%66.6%47.5%61.8%
Skew 25d7.7%6.0%9.5%8.6%7.9%
Skew 10d17.2%12.8%22.0%18.6%17.7%
Call IV 25d39.5%35.5%43.5%41.1%40.9%
Put IV 25d47.2%41.4%53.0%49.7%48.8%
Bid-Ask Spread %27.7717.6347.8442.8925.94
Gamma HHI0.140.070.600.350.11
Net GEX-3.1M-24.1M5.7M5.7M-5.9M
Net DEX-140.5M-337.6M68.0M-337.6M4.7M
Net VEX-1.4M-1.6M-1.2M-1.2M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.530.582.542.540.58
Total Volume8,360.0483,28522,12322,12312,539
Total OI78,138.42971,70892,91976,52481,116

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-03-01$169.83$140.0045.1%12.8%92.4%17.6%47.5%8.6%-0.2%5.7M-337.6M-1.2M2.5442.89N/AN/A6,25715,86631,34745,177
2019-03-04$165.99$150.0046.9%13.8%93.7%20.5%50.5%9.0%-0.2%-1.5M-189.3M-1.3M1.6947.84N/AN/A2,4264,09225,77146,465
2019-03-05$167.44$150.0043.6%12.9%93.7%15.1%46.1%8.9%0.1%-1.1M-208.1M-1.3M1.0742.14N/AN/A4,4534,75426,31047,660
2019-03-06$164.12$150.0043.2%12.3%94.5%14.5%45.1%7.3%-0.2%-1.4M-180.7M-1.4M1.8737.97N/AN/A1,9793,69529,36049,924
2019-03-07$162.92$150.0045.4%13.3%94.9%18.0%46.9%8.0%-0.7%-2.5M-164.1M-1.4M1.3536.64N/AN/A2,6763,60629,39250,148
2019-03-08$164.60$150.0044.8%12.5%93.7%17.0%47.2%9.3%0.1%-3.7M-183.6M-1.4M1.9238.22N/AN/A2,2884,39530,30650,911
2019-03-11$169.95$130.0042.1%16.6%93.7%12.5%61.9%7.1%1.6%650.8K-220.8M-1.3M0.9218.75N/AN/A4,4314,08427,09947,717
2019-03-12$171.89$130.0040.7%16.3%93.3%10.1%58.1%6.6%1.8%3.1M-253.0M-1.3M0.6922.54N/AN/A2,4181,67229,20248,897
2019-03-13$168.81$135.0040.0%16.4%94.1%9.1%60.8%6.6%1.7%2.9M-219.2M-1.4M2.0522.27N/AN/A2,4034,93130,48149,808
2019-03-14$165.62$135.0041.4%16.8%94.6%11.3%62.1%7.1%1.6%-4.3M-157.6M-1.4M1.2921.32N/AN/A5,9697,70031,02653,271
2019-03-15$165.17$135.0038.4%16.4%94.7%6.3%58.3%6.0%1.1%-24.1M-149.4M-1.5M1.3622.55N/AN/A3,2854,45535,12257,797
2019-03-18$169.60$135.0039.2%16.6%94.7%7.6%58.0%7.7%-0.5%-2.0M-154.6M-1.5M1.7532.40N/AN/A1,1932,09228,60643,102
2019-03-19$168.39$140.0039.5%16.5%94.6%8.1%57.9%6.4%-1.1%-2.1M-150.3M-1.5M2.0525.86N/AN/A1,8553,79829,53844,012
2019-03-20$171.65$140.0037.7%16.7%93.6%5.2%61.5%6.3%0.3%-1.1M-186.9M-1.5M1.1620.70N/AN/A2,7083,14830,35845,519
2019-03-21$172.16$145.0037.6%16.5%93.2%5.0%61.9%6.1%0.5%2.4M-202.0M-1.5M1.5220.61N/AN/A2,1113,20932,18146,311
2019-03-22$159.12$145.0046.8%18.2%45.9%20.4%64.3%9.5%-1.6%-6.3M-24.9M-1.5M1.8620.67N/AN/A3,5906,68132,77246,655
2019-03-25$161.67$145.0046.0%18.4%39.6%19.1%66.3%9.0%18.2%-3.9M-63.7M-1.5M2.2317.63N/AN/A1,8714,17529,95244,328
2019-03-26$158.76$150.0044.4%18.0%39.4%16.4%64.2%8.3%18.7%-5.1M-31.9M-1.5M2.5020.31N/AN/A1,0722,68230,86946,327
2019-03-27$151.24$150.0046.0%18.7%42.8%19.0%66.6%8.4%19.8%-6.6M53.7M-1.4M1.0022.41N/AN/A4,3974,39931,06546,901
2019-03-28$149.47$150.0049.5%18.6%42.4%25.0%60.7%8.6%19.9%-7.4M68.0M-1.4M0.8123.47N/AN/A8,9347,27230,64547,459
2019-03-29$148.49$150.0052.3%18.6%40.8%29.8%61.8%7.9%21.3%-5.9M4.7M-1.6M0.5825.94N/AN/A7,9404,59937,40843,708