W Options History — April 2020

In April 2020, W traded between $46.23 and $130.16. ATM implied volatility averaged 135.0%, placing in the 56.5% IV rank vs the trailing year. The 30-day expected move averaged 41.1%. IV traded below realized volatility by 76.4% (HV 20d: 211.4%). Max pain ranged from $45.00 to $80.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 1.58.

Notable Days

  • 2020-04-06: Highest Volume — 44,632 contracts
  • 2020-04-06: Largest IV drop — 18.5% change
  • 2020-04-02: Highest IV Rank — 86.4%
  • 2020-04-02: Largest Expected Move — 55.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$90.31$46.23$130.16$47.62$124.86
Max Pain$70.38$45.00$80.00$45.00$80.00
ATM IV135.0%109.2%186.9%184.9%120.3%
Expected Move41.1%33.9%55.7%50.3%42.1%
HV 20d211.4%150.7%274.8%247.6%150.7%
HV 60d169.8%150.5%177.9%150.5%177.2%
IV Rank56.5%41.7%86.4%85.3%48.1%
IV Percentile92.4%87.3%98.0%98.0%89.7%
Term Structure-2.7%-18.3%13.8%-1.9%-5.8%
VWIV149.2%114.7%199.2%195.9%144.8%
Skew 25d35.7%17.0%80.4%54.8%17.0%
Skew 10d60.9%22.6%132.6%73.7%22.6%
Call IV 25d112.8%89.0%148.5%148.5%106.0%
Put IV 25d148.5%116.1%216.7%203.3%123.0%
Bid-Ask Spread %41.8913.5063.4445.7518.60
Gamma HHI0.080.050.250.070.05
Net GEX521.8K-846.8K2.5M-534.9K1.4M
Net DEX-233.9M-560.4M65.9M65.9M-486.2M
Net VEX-2.2M-2.9M-1.1M-1.1M-2.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.580.584.100.581.08
Total Volume14,383.1434,69844,63212,63111,181
Total OI165,685139,247182,820145,935172,119

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$47.62$45.00184.9%50.3%247.6%85.3%195.9%54.8%-1.9%-534.9K65.9M-1.1M0.5845.75N/AN/A7,9934,63858,97586,960
2020-04-02$46.23$70.00186.9%55.7%247.6%86.4%192.2%57.4%2.7%-549.9K64.9M-1.2M3.6562.02N/AN/A1,2854,69167,66392,193
2020-04-03$50.03$70.00186.7%55.4%249.6%86.3%199.2%80.4%5.2%-846.8K40.4M-1.4M1.9254.97N/AN/A3,7037,12068,43294,591
2020-04-06$71.40$70.00152.2%42.1%274.8%66.4%153.2%36.5%-9.6%82.7K-93.0M-1.8M4.1060.12N/AN/A8,75435,87865,59185,926
2020-04-07$77.28$70.00137.6%38.6%274.4%58.1%138.4%24.7%-4.4%-185.4K-130.7M-2.0M1.0962.46N/AN/A6,9077,53868,415102,051
2020-04-08$76.97$70.00130.4%41.7%272.6%53.9%137.2%25.9%13.8%41.9K-135.5M-2.0M1.4463.44N/AN/A5,3977,79169,963105,476
2020-04-09$76.63$70.00134.1%41.6%244.3%56.0%137.5%33.4%13.4%-231.6K-129.0M-2.0M0.8656.48N/AN/A7,9396,81171,526107,292
2020-04-13$81.58$70.00136.3%39.0%242.8%57.3%145.2%42.0%-2.9%617.3K-166.5M-2.0M1.2655.93N/AN/A3,1203,92872,121102,720
2020-04-14$86.67$70.00129.1%36.8%228.7%53.1%141.9%43.9%-5.6%1.2M-222.1M-2.1M1.5855.57N/AN/A3,9546,23273,443104,196
2020-04-15$80.95$70.00138.3%39.6%231.2%58.4%154.2%47.0%-6.7%734.4K-155.2M-2.1M2.7661.98N/AN/A1,2483,45073,758107,458
2020-04-16$83.61$70.00118.8%33.9%206.2%47.2%114.7%39.5%6.0%1.3M-173.6M-2.1M0.7733.38N/AN/A3,7402,88473,153107,958
2020-04-17$89.28$70.00122.1%35.6%202.0%49.1%136.0%39.1%-6.1%2.5M-243.4M-2.2M0.9651.45N/AN/A3,5413,40574,002108,818
2020-04-20$100.94$70.00123.8%37.2%198.9%50.1%132.9%25.8%-2.5%652.2K-282.0M-2.4M1.0230.68N/AN/A11,59011,77864,14975,098
2020-04-21$96.25$70.00120.3%36.9%202.6%48.1%135.6%29.9%-3.8%-322.8K-228.2M-2.3M1.3932.19N/AN/A4,9356,84466,97682,380
2020-04-22$95.78$70.00109.2%34.2%174.0%41.7%147.1%32.8%-2.2%-776.7K-217.0M-2.3M2.3234.23N/AN/A3,1517,30068,30786,158
2020-04-23$104.26$70.00113.6%34.3%159.9%44.2%133.5%27.4%-18.3%262.5K-313.9M-2.4M1.6733.76N/AN/A6,23110,40569,51087,999
2020-04-24$122.59$70.00118.4%39.3%166.0%47.0%140.0%27.7%-6.1%1.4M-512.5M-2.7M1.0815.34N/AN/A15,76016,99971,66790,790
2020-04-27$129.65$75.00134.5%46.5%152.8%56.3%161.5%21.7%-6.2%1.2M-549.5M-2.9M0.9016.76N/AN/A12,97011,64772,54989,698
2020-04-28$123.83$79.00124.6%41.5%156.1%50.6%148.7%24.0%-8.7%1.1M-484.7M-2.8M1.3713.50N/AN/A3,7215,09475,12193,829
2020-04-29$130.16$79.00112.4%40.8%155.9%43.6%144.0%18.4%-6.2%1.8M-560.4M-2.8M1.3921.17N/AN/A4,3916,10276,01194,343
2020-04-30$124.86$80.00120.3%42.1%150.7%48.1%144.8%17.0%-5.8%1.4M-486.2M-2.8M1.0818.60N/AN/A5,3865,79576,26595,854