W Options History — July 2019

In July 2019, W traded between $131.06 and $152.56. ATM implied volatility averaged 65.6%, placing in the 50.3% IV rank vs the trailing year. The 30-day expected move averaged 18.5%. IV traded above realized volatility by 26.8% (HV 20d: 38.8%). Max pain ranged from $140.00 to $155.00. Net GEX was positive for 11 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 1.64.

Notable Days

  • 2019-07-18: Highest Volume — 20,846 contracts
  • 2019-07-03: Largest IV spike — 6.3% change
  • 2019-07-31: Highest IV Rank — 58.8%
  • 2019-07-31: Largest Expected Move — 24.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$143.50$131.06$152.56$143.50$131.06
Max Pain$146.14$140.00$155.00$155.00$150.00
ATM IV65.6%58.9%70.4%58.9%70.4%
Expected Move18.5%10.7%24.9%11.7%24.9%
HV 20d38.8%34.3%42.4%42.4%38.3%
HV 60d42.8%40.8%44.5%41.9%40.8%
IV Rank50.3%38.7%58.8%38.7%58.8%
IV Percentile70.8%54.8%86.1%54.8%86.1%
Term Structure-3.6%-4.6%0.3%0.3%-4.5%
VWIV65.1%36.9%85.1%40.1%85.1%
Skew 25d7.7%4.6%9.2%7.7%4.6%
Skew 10d15.9%9.1%18.7%17.0%11.2%
Call IV 25d62.1%59.1%68.1%59.1%68.1%
Put IV 25d69.8%66.7%73.1%66.7%72.6%
Bid-Ask Spread %21.8416.7126.2825.9323.29
Gamma HHI0.070.040.120.060.05
Net GEX962.9K-3.3M7.3M592.0K-1.1M
Net DEX-52.2M-132.4M45.5M-46.9M45.5M
Net VEX-2.3M-2.4M-2.1M-2.3M-2.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.640.573.840.890.57
Total Volume6,315.4092,41320,8463,02120,436
Total OI94,011.68284,895101,63392,34994,179

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-07-01$143.50$155.0058.9%11.7%42.4%38.7%40.1%7.7%0.3%592.0K-46.9M-2.3M0.8925.93N/AN/A1,6001,42147,33345,016
2019-07-02$142.75$155.0060.9%10.7%41.9%42.2%36.9%8.1%-3.1%-864.4K-29.7M-2.3M1.2026.28N/AN/A2,1192,53847,81545,907
2019-07-03$142.40$155.0064.8%10.8%34.9%48.9%37.6%7.9%-4.2%-1.0M-27.8M-2.3M1.4024.09N/AN/A1,5972,24048,93647,021
2019-07-05$145.34$140.0065.6%17.2%35.9%50.3%60.6%8.9%-3.6%-927.8K-65.2M-2.3M1.5322.61N/AN/A1,8692,85249,15246,969
2019-07-08$141.13$140.0065.3%17.6%37.0%49.9%61.0%8.8%-3.4%-387.6K-20.8M-2.2M1.8224.11N/AN/A1,4592,65847,95245,840
2019-07-09$147.19$140.0065.2%17.6%40.3%49.6%62.4%8.3%-3.3%2.3M-85.1M-2.3M1.9820.80N/AN/A1,5853,13148,46646,866
2019-07-10$149.72$140.0065.1%17.6%40.5%49.5%63.6%8.7%-3.8%4.1M-113.5M-2.4M1.1625.06N/AN/A1,7031,97948,81348,634
2019-07-11$150.35$140.0065.5%17.9%40.4%50.1%65.4%8.2%-3.7%4.9M-125.1M-2.4M0.9022.81N/AN/A3,1372,82849,52149,142
2019-07-12$150.06$140.0065.1%17.8%39.8%49.6%63.8%8.3%-4.5%7.3M-118.4M-2.4M1.6218.97N/AN/A1,5042,44149,87950,023
2019-07-15$151.15$140.0065.6%18.4%39.5%50.3%66.1%9.2%-3.9%4.4M-119.2M-2.3M3.8421.21N/AN/A9383,59847,75348,185
2019-07-16$150.08$140.0064.3%18.3%39.3%48.1%66.2%8.5%-3.7%3.6M-101.9M-2.3M1.4821.59N/AN/A9741,43948,24447,789
2019-07-17$152.56$140.0063.8%18.3%39.6%47.3%62.1%8.3%-3.3%5.2M-132.4M-2.3M1.2121.56N/AN/A1,6672,02248,41248,240
2019-07-18$143.60$140.0066.8%19.3%42.1%52.5%67.0%8.5%-4.6%-1.2M-13.3M-2.2M1.3023.80N/AN/A9,06311,78348,71648,945
2019-07-19$145.78$150.0065.3%19.0%38.4%49.8%66.2%9.0%-3.2%156.2K-81.6M-2.3M1.7626.11N/AN/A3,2145,66051,27550,358
2019-07-22$144.71$150.0064.9%19.7%38.4%49.1%69.9%7.9%-2.7%1.2M-78.8M-2.3M2.6017.13N/AN/A1,0222,65738,87646,019
2019-07-23$144.57$150.0066.1%20.3%38.4%51.2%72.9%7.7%-3.8%643.6K-76.7M-2.3M2.2516.71N/AN/A1,3663,07039,33947,694
2019-07-24$141.29$150.0066.7%21.0%34.3%52.3%73.3%8.5%-4.3%-974.8K-37.8M-2.2M1.7218.28N/AN/A1,6162,78239,81148,917
2019-07-25$135.14$150.0066.4%20.7%37.3%51.8%72.3%6.5%-3.9%-3.3M28.4M-2.1M2.4022.38N/AN/A2,2455,38040,23749,948
2019-07-26$137.68$150.0066.5%21.1%37.8%51.9%74.2%5.0%-4.1%-2.0M6.2M-2.2M1.9319.25N/AN/A2,3904,61840,68751,848
2019-07-29$134.41$150.0069.6%23.5%38.5%57.4%82.2%5.4%-4.5%-518.0K14.2M-2.1M0.9718.32N/AN/A3,3663,27838,92148,909
2019-07-30$132.58$150.0069.6%24.0%38.2%57.4%83.0%5.6%-4.3%-817.4K31.1M-2.1M1.4720.10N/AN/A2,3013,39340,56051,110
2019-07-31$131.06$150.0070.4%24.9%38.3%58.8%85.1%4.6%-4.5%-1.1M45.5M-2.1M0.5723.29N/AN/A12,9877,44941,50252,677