W Options History — August 2020

In August 2020, W traded between $286.58 and $342.47. ATM implied volatility averaged 69.1%, placing in the 16.4% IV rank vs the trailing year. The 30-day expected move averaged 20.0%. IV traded above realized volatility by 16.1% (HV 20d: 53.0%). Max pain ranged from $180.00 to $330.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.07.

Notable Days

  • 2020-08-05: Highest Volume — 50,382 contracts
  • 2020-08-05: Largest IV drop — 21.7% change
  • 2020-08-03: Highest IV Rank — 31.1%
  • 2020-08-03: Largest Expected Move — 29.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$316.03$286.58$342.47$286.58$299.45
Max Pain$285.71$180.00$330.00$180.00$330.00
ATM IV69.1%59.5%93.9%93.9%74.1%
Expected Move20.0%17.0%29.6%29.6%21.2%
HV 20d53.0%47.2%56.9%55.7%49.7%
HV 60d60.9%54.1%66.6%66.6%55.6%
IV Rank16.4%10.7%31.1%31.1%19.4%
IV Percentile43.0%32.9%79.0%79.0%49.2%
Term Structure-0.4%-5.6%1.7%-4.2%-1.3%
VWIV70.7%59.8%105.4%105.4%75.6%
Skew 25d1.4%-4.0%5.3%-2.7%5.0%
Skew 10d2.6%-5.2%10.5%-0.0%10.5%
Call IV 25d68.8%58.4%96.5%96.5%72.2%
Put IV 25d70.2%62.0%93.8%93.8%77.2%
Bid-Ask Spread %41.2032.4749.4933.5749.49
Gamma HHI0.080.040.310.050.06
Net GEX8.9M-9.6M26.9M9.8M-4.4M
Net DEX-2.14B-2.63B-1.34B-2.00B-1.34B
Net VEX-5.0M-5.5M-4.6M-4.7M-5.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.070.741.591.001.59
Total Volume21,567.196,40350,38224,20424,245
Total OI202,100.524162,153234,106185,702174,167

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-08-03$286.58$180.0093.9%29.6%55.7%31.1%105.4%-2.7%-4.2%9.8M-2.00B-4.7M1.0033.57N/AN/A12,10512,09990,50895,194
2020-08-04$290.40$180.0089.2%27.8%55.5%28.3%98.0%0.7%-5.6%11.6M-2.08B-4.6M1.1440.79N/AN/A20,58523,53795,910101,698
2020-08-05$299.88$190.0069.8%19.3%54.3%16.8%68.5%-4.0%-1.0%18.1M-2.26B-4.7M0.7646.21N/AN/A28,60021,782106,483116,350
2020-08-06$311.87$250.0066.8%19.3%54.7%15.1%68.1%-0.8%0.0%23.4M-2.50B-4.8M0.7842.58N/AN/A15,58812,116109,944121,530
2020-08-07$309.68$260.0070.5%20.1%53.1%17.3%71.6%2.7%-2.5%26.9M-2.39B-4.8M0.9139.49N/AN/A15,02613,738109,163124,943
2020-08-10$297.11$260.0072.5%20.9%53.2%18.4%74.0%1.0%0.4%7.3M-1.97B-5.0M1.1436.61N/AN/A7,5028,51591,475106,833
2020-08-11$310.64$270.0076.5%22.3%54.1%20.8%78.1%1.3%1.5%7.8M-2.20B-4.9M0.7737.48N/AN/A20,98916,10893,912110,522
2020-08-12$301.06$300.0070.8%20.2%56.1%17.4%70.7%0.1%-0.2%3.7M-1.98B-5.1M1.0940.83N/AN/A8,8349,58899,766117,439
2020-08-13$314.40$300.0070.0%20.5%56.9%17.0%72.6%0.3%1.7%10.0M-2.26B-5.0M1.2032.47N/AN/A6,8378,208100,892118,327
2020-08-14$309.20$300.0067.3%19.2%56.9%15.3%68.1%1.1%-0.8%6.8M-2.13B-4.9M1.2337.73N/AN/A6,0437,442101,579120,205
2020-08-17$314.23$300.0063.3%18.3%54.7%13.0%64.6%2.5%0.6%7.0M-2.19B-4.8M0.7442.74N/AN/A9,2556,86191,269112,112
2020-08-18$325.61$300.0064.0%18.4%54.0%13.4%65.2%2.0%1.0%11.2M-2.40B-5.1M0.8139.49N/AN/A10,8798,78495,054116,586
2020-08-19$330.56$300.0063.1%18.1%53.5%12.9%63.9%2.0%0.5%11.4M-2.48B-5.0M0.8646.51N/AN/A8,6087,36197,384120,212
2020-08-20$330.93$300.0061.3%17.5%50.3%11.8%61.0%2.5%1.2%10.7M-2.46B-5.1M1.0446.73N/AN/A7,1897,46798,673122,065
2020-08-21$340.59$330.0061.5%17.5%50.3%11.9%61.7%1.8%1.1%21.2M-2.63B-5.1M0.7942.78N/AN/A8,5286,735100,502126,028
2020-08-24$338.89$330.0060.0%17.1%50.7%11.0%60.1%4.3%0.2%5.7M-2.05B-5.1M1.5738.46N/AN/A4,2786,70280,28881,865
2020-08-25$337.54$330.0059.5%17.0%49.8%10.7%59.8%5.3%-0.0%3.7M-2.01B-5.2M1.3044.80N/AN/A2,7803,62381,94785,572
2020-08-26$342.47$330.0062.0%17.7%47.2%12.2%63.0%1.7%-0.5%5.6M-2.09B-5.2M1.3442.21N/AN/A5,1006,85483,19687,117
2020-08-27$331.53$330.0065.4%18.7%48.5%14.2%66.5%0.7%0.8%-1.8M-1.89B-5.3M1.0943.03N/AN/A9,69510,54384,80790,345
2020-08-28$313.91$330.0069.0%19.5%53.0%16.4%68.6%2.4%-2.0%-9.6M-1.55B-5.4M1.3341.27N/AN/A9,52812,65487,09795,152
2020-08-31$299.45$330.0074.1%21.2%49.7%19.4%75.6%5.0%-1.3%-4.4M-1.34B-5.5M1.5949.49N/AN/A9,35714,88882,71891,449