W Options History — November 2019

In November 2019, W traded between $81.63 and $87.57. ATM implied volatility averaged 50.5%, placing in the 28.2% IV rank vs the trailing year. The 30-day expected move averaged 14.6%. IV traded below realized volatility by 44.9% (HV 20d: 95.4%). Max pain ranged from $85.00 to $104.00. Net GEX was positive for 2 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 1.57.

Notable Days

  • 2019-11-21: Highest Volume — 14,856 contracts
  • 2019-11-22: Largest IV drop — 7.6% change
  • 2019-11-21: Highest IV Rank — 37.9%
  • 2019-11-25: Largest Expected Move — 16.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$84.25$81.63$87.57$83.81$84.37
Max Pain$89.70$85.00$104.00$104.00$85.00
ATM IV50.5%46.1%55.3%53.5%51.0%
Expected Move14.6%13.4%16.0%15.4%15.2%
HV 20d95.4%43.1%102.0%97.2%43.1%
HV 60d69.9%66.3%73.5%71.4%66.4%
IV Rank28.2%19.1%37.9%34.4%29.1%
IV Percentile40.1%23.8%53.2%45.2%44.4%
Term Structure-0.6%-2.6%1.1%1.1%-0.2%
VWIV51.8%47.3%56.4%54.2%53.4%
Skew 25d2.2%0.6%3.2%0.6%2.3%
Skew 10d3.8%1.7%5.7%2.0%2.9%
Call IV 25d49.9%45.4%55.6%53.0%50.2%
Put IV 25d52.1%47.9%57.4%53.5%52.5%
Bid-Ask Spread %27.2113.9346.0045.5613.93
Gamma HHI0.080.050.190.100.06
Net GEX-1.3M-3.7M2.1M-3.7M-3.0M
Net DEX130.5M62.7M279.5M279.5M101.0M
Net VEX-1.3M-1.4M-1.2M-1.2M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.570.503.091.091.73
Total Volume8,362.053,43314,85613,9163,433
Total OI126,230.4599,588164,444164,444122,374

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-11-01$83.81$104.0053.5%15.4%97.2%34.4%54.2%0.6%1.1%-3.7M279.5M-1.2M1.0945.56N/AN/A6,6597,25795,39469,050
2019-11-04$87.57$100.0051.6%14.6%99.1%30.5%53.5%2.9%-0.8%57.7K150.1M-1.3M0.6546.00N/AN/A5,4233,51775,96054,017
2019-11-05$81.63$100.0053.6%15.0%101.2%34.4%52.9%1.4%0.1%-1.2M190.4M-1.2M0.9940.60N/AN/A4,8824,81976,79354,866
2019-11-06$83.55$95.0050.5%13.9%102.0%28.2%51.3%2.9%-1.5%-657.8K166.8M-1.2M0.9237.44N/AN/A4,2743,92879,23955,447
2019-11-07$83.92$90.0049.5%14.4%102.0%26.1%50.6%1.6%-1.1%-567.2K148.5M-1.3M1.0944.55N/AN/A2,2272,42381,18355,945
2019-11-08$84.29$90.0047.7%13.6%101.1%22.4%48.7%2.4%-1.3%2.1M146.7M-1.3M0.9342.85N/AN/A2,3252,17282,50657,445
2019-11-11$82.90$90.0046.7%13.5%101.1%20.3%51.5%2.9%0.4%-1.9M157.7M-1.2M1.2242.73N/AN/A3,5674,35876,86554,625
2019-11-12$84.87$90.0046.1%13.4%100.9%19.1%47.3%2.5%0.8%-483.9K132.4M-1.3M0.5043.20N/AN/A3,8981,96378,76857,083
2019-11-13$83.47$90.0047.4%13.6%100.9%21.8%47.7%2.5%0.0%-1.5M149.9M-1.2M0.6521.60N/AN/A2,7681,79179,17457,851
2019-11-14$83.06$90.0047.3%13.7%97.5%21.6%47.3%2.9%0.8%-2.4M158.1M-1.2M1.4717.06N/AN/A3,4095,02579,79058,425
2019-11-15$83.31$90.0049.0%14.0%97.1%25.2%49.6%2.0%-0.2%-3.4M148.1M-1.2M2.9328.26N/AN/A3,2259,44782,09159,084
2019-11-18$86.60$85.0052.0%14.9%97.9%31.3%51.9%1.6%-0.9%-727.7K75.0M-1.3M1.0714.69N/AN/A5,6116,02449,25650,332
2019-11-19$83.77$85.0052.3%15.0%97.8%31.9%53.1%1.5%-1.9%-1.8M104.3M-1.3M3.0615.87N/AN/A2,1816,68252,74953,108
2019-11-20$82.36$85.0053.0%15.2%97.5%33.4%53.4%2.4%-2.6%-2.1M115.6M-1.3M1.8014.61N/AN/A2,9025,22653,74553,493
2019-11-21$82.39$85.0055.3%15.9%97.4%37.9%56.4%1.8%-1.8%-2.0M108.9M-1.3M3.0915.96N/AN/A3,63111,22555,11654,128
2019-11-22$84.71$85.0051.1%14.7%96.9%29.3%51.3%2.8%-1.3%-2.1M77.6M-1.4M0.9215.31N/AN/A3,9493,62657,40458,250
2019-11-25$85.49$85.0052.9%16.0%94.6%33.2%55.4%3.2%-0.2%-437.7K70.6M-1.4M2.5515.00N/AN/A3,0037,66754,21953,977
2019-11-26$86.28$85.0050.3%15.1%91.6%27.8%53.0%1.7%-0.9%-712.3K66.9M-1.4M1.5814.00N/AN/A2,8204,45955,85360,236
2019-11-27$86.69$85.0049.5%14.7%91.6%26.0%54.3%2.2%0.0%-401.3K62.7M-1.4M3.0614.94N/AN/A1,3424,10356,90561,863
2019-11-29$84.37$85.0051.0%15.2%43.1%29.1%53.4%2.3%-0.2%-3.0M101.0M-1.4M1.7313.93N/AN/A1,2572,17657,80564,569