W Options History — November 2020

In November 2020, W traded between $234.31 and $301.17. ATM implied volatility averaged 64.3%, placing in the 13.6% IV rank vs the trailing year. The 30-day expected move averaged 18.8%. IV traded below realized volatility by 34.7% (HV 20d: 98.9%). Max pain ranged from $250.00 to $280.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.84.

Notable Days

  • 2020-11-03: Highest Volume — 44,727 contracts
  • 2020-11-03: Largest IV drop — 28.3% change
  • 2020-11-02: Highest IV Rank — 27.1%
  • 2020-11-02: Largest Expected Move — 28.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$254.43$234.31$301.17$255.85$253.01
Max Pain$257.25$250.00$280.00$270.00$250.00
ATM IV64.3%55.6%87.2%87.2%63.7%
Expected Move18.8%16.9%28.2%28.2%19.7%
HV 20d98.9%60.3%111.9%60.3%107.0%
HV 60d75.5%60.7%80.9%60.7%79.5%
IV Rank13.6%8.4%27.1%27.1%13.2%
IV Percentile25.2%17.1%69.4%69.4%21.4%
Term Structure-0.9%-4.1%3.1%-4.1%1.7%
VWIV66.8%59.6%97.5%97.5%69.6%
Skew 25d-1.3%-11.4%5.3%4.8%-3.8%
Skew 10d1.6%-13.8%17.0%13.4%0.8%
Call IV 25d66.1%53.8%83.1%83.1%68.4%
Put IV 25d64.8%56.6%87.9%87.9%64.6%
Bid-Ask Spread %47.3033.8155.3442.2845.54
Gamma HHI0.070.030.390.030.05
Net GEX6.6M-1.5M34.2M3.4M6.1M
Net DEX-1.08B-2.00B-693.6M-1.07B-1.14B
Net VEX-6.2M-6.4M-5.7M-6.4M-6.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.840.311.160.830.95
Total Volume15,7556,03744,72721,7616,037
Total OI210,882.1184,777227,766200,180193,287

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-11-02$255.85$270.0087.2%28.2%60.3%27.1%97.5%4.8%-4.1%3.4M-1.07B-6.4M0.8342.28N/AN/A11,9209,841102,88797,293
2020-11-03$273.80$270.0062.6%18.9%64.7%12.5%67.7%3.5%2.8%5.3M-1.34B-6.1M0.8843.83N/AN/A23,78220,945102,88797,293
2020-11-04$268.95$265.0060.8%17.1%62.9%11.5%59.9%5.3%-1.2%6.2M-1.26B-6.1M0.8755.34N/AN/A8,5777,474114,036108,295
2020-11-05$295.97$280.0062.3%17.9%72.5%12.4%63.1%2.5%-1.0%22.2M-1.89B-6.3M1.1455.27N/AN/A10,54712,006113,757108,561
2020-11-06$301.17$280.0055.6%16.9%72.3%8.4%59.6%0.8%-0.8%34.2M-2.00B-6.4M0.9349.39N/AN/A8,5467,974114,649113,117
2020-11-09$238.63$280.0062.0%18.2%110.0%12.2%64.6%1.2%3.1%-499.4K-707.5M-5.7M0.9152.90N/AN/A13,87212,628101,088101,681
2020-11-10$242.86$250.0064.4%18.5%109.1%13.6%66.8%-4.8%0.8%-26.0K-784.2M-6.2M0.9244.37N/AN/A9,4788,744108,145108,187
2020-11-11$250.84$250.0065.3%18.1%109.6%14.2%64.4%-3.7%-2.7%3.5M-948.4M-6.2M0.6143.80N/AN/A6,5704,003111,774110,154
2020-11-12$250.67$250.0065.9%18.5%109.5%14.5%65.8%-5.5%-2.4%4.4M-946.1M-6.2M0.7848.59N/AN/A3,9673,098112,110110,475
2020-11-13$237.17$250.0065.2%18.3%110.6%14.1%65.6%-1.6%-2.2%-1.5M-693.6M-6.0M1.1651.37N/AN/A6,8938,027112,507111,049
2020-11-16$234.31$250.0064.8%18.5%110.4%13.8%67.1%-0.8%-4.0%942.8K-722.8M-5.9M1.1149.73N/AN/A3,8164,244107,628105,720
2020-11-17$239.89$250.0064.4%18.4%111.1%13.6%66.3%2.1%0.2%1.7M-807.1M-6.1M0.7153.26N/AN/A4,1842,978109,139106,870
2020-11-18$235.32$250.0065.6%18.8%108.0%14.3%67.7%2.2%-3.0%881.6K-740.9M-5.9M0.9549.94N/AN/A6,1535,836110,521107,476
2020-11-19$248.58$250.0064.6%18.5%110.0%13.8%68.2%-1.1%0.4%4.7M-1.00B-6.3M0.5048.16N/AN/A8,1744,119112,958111,152
2020-11-20$252.75$250.0062.9%18.0%110.2%12.7%65.4%-1.0%-0.2%9.7M-1.09B-6.2M0.5553.03N/AN/A11,7186,410113,857110,511
2020-11-23$256.40$250.0059.4%17.7%109.8%10.7%63.3%-1.8%0.2%6.1M-1.18B-6.2M1.1133.81N/AN/A4,8925,44096,19588,582
2020-11-24$241.44$250.0063.0%17.8%111.5%12.8%63.5%-7.5%-1.2%3.2M-916.8M-6.2M0.9239.82N/AN/A5,5145,05998,45791,711
2020-11-25$250.26$250.0060.7%18.0%111.9%11.4%62.3%-4.7%-2.7%6.3M-1.08B-6.2M0.6640.07N/AN/A7,5084,99199,96794,664
2020-11-27$260.74$250.0065.2%19.0%107.3%14.1%67.1%-11.4%-2.4%15.0M-1.34B-6.3M0.3145.41N/AN/A14,5964,539102,86496,138
2020-11-30$253.01$250.0063.7%19.7%107.0%13.2%69.6%-3.8%1.7%6.1M-1.14B-6.2M0.9545.54N/AN/A3,0942,94399,44393,844