W Options History — September 2021

In September 2021, W traded between $257.24 and $286.04. ATM implied volatility averaged 46.2%, placing in the 5.9% IV rank vs the trailing year. The 30-day expected move averaged 13.4%. IV traded above realized volatility by 12.0% (HV 20d: 34.2%). Max pain ranged from $270.00 to $290.00. Net GEX was positive for 2 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 1.23.

Notable Days

  • 2021-09-17: Highest Volume — 19,944 contracts
  • 2021-09-20: Largest IV spike — 13.6% change
  • 2021-09-30: Highest IV Rank — 18.0%
  • 2021-09-20: Largest Expected Move — 15.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$273.59$257.24$286.04$279.33$257.24
Max Pain$273.81$270.00$290.00$280.00$270.00
ATM IV46.2%42.8%52.8%44.3%52.8%
Expected Move13.4%12.3%15.2%12.3%14.7%
HV 20d34.2%25.8%61.4%61.4%35.7%
HV 60d47.9%47.3%49.1%47.9%49.1%
IV Rank5.9%0.0%18.0%0.0%18.0%
IV Percentile8.4%0.0%28.2%0.0%28.2%
Term Structure2.7%-1.5%14.3%1.2%14.3%
VWIV47.3%43.6%53.9%43.6%53.2%
Skew 25d3.1%1.7%4.6%3.1%2.4%
Skew 10d6.0%0.6%8.4%7.0%4.8%
Call IV 25d45.3%42.2%51.8%43.2%50.2%
Put IV 25d48.4%45.3%53.5%46.3%52.6%
Bid-Ask Spread %52.1442.1861.2442.5252.05
Gamma HHI0.070.050.330.050.06
Net GEX-5.1M-15.6M21.7M-8.6M-11.4M
Net DEX-439.5M-816.2M-121.3M-451.5M-121.3M
Net VEX-9.9M-10.6M-9.2M-9.7M-9.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.230.228.240.561.29
Total Volume8,013.7622,34219,9448,26811,972
Total OI194,609.667181,606206,966186,407198,841

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-09-01$279.33$280.0044.3%12.3%61.4%0.0%43.6%3.1%1.2%-8.6M-451.5M-9.7M0.5642.52N/AN/A5,2842,98482,847103,560
2021-09-02$274.30$290.0044.2%12.9%51.3%0.0%45.4%2.5%3.2%-11.7M-345.5M-9.6M0.9954.68N/AN/A3,6483,61386,539105,482
2021-09-03$273.14$290.0042.8%12.9%47.6%0.0%44.8%2.8%0.8%-9.3M-305.7M-9.7M0.7145.53N/AN/A4,3773,12287,671107,648
2021-09-07$269.82$280.0045.4%13.3%43.0%4.8%46.6%2.1%1.9%-8.4M-304.1M-9.4M0.5559.97N/AN/A3,5281,95783,961103,955
2021-09-08$263.75$280.0046.1%13.5%41.9%6.0%46.5%2.1%0.7%-11.5M-183.8M-9.2M0.6660.25N/AN/A3,4122,25485,196104,774
2021-09-09$266.67$280.0045.0%13.2%30.7%4.1%46.0%2.5%1.2%-11.2M-226.7M-9.3M0.7551.98N/AN/A9,0936,84786,534105,549
2021-09-10$264.15$270.0046.2%13.4%29.0%6.1%46.1%3.4%0.8%-15.6M-194.7M-9.3M1.0555.79N/AN/A3,0533,20087,881106,327
2021-09-13$266.54$270.0046.3%13.3%29.2%6.4%47.1%3.0%-0.2%-8.3M-246.7M-9.5M0.6960.59N/AN/A3,0342,09089,716108,116
2021-09-14$267.11$270.0045.7%13.1%28.6%5.3%46.3%3.1%0.6%-9.5M-242.9M-9.5M0.6561.20N/AN/A2,3251,50590,403109,260
2021-09-15$277.81$270.0044.9%12.9%32.8%3.8%45.2%2.7%0.5%-1.1M-495.8M-9.7M0.2259.43N/AN/A7,4361,60891,385109,727
2021-09-16$277.29$270.0045.1%12.9%25.8%4.2%45.5%2.7%0.8%-594.5K-496.2M-9.6M1.2361.24N/AN/A5,2406,43492,226110,113
2021-09-17$286.04$270.0045.9%13.2%28.1%5.6%46.9%2.8%-0.9%21.7M-816.2M-10.2M0.4259.04N/AN/A14,0735,87196,412110,554
2021-09-20$279.05$270.0052.1%15.2%27.9%16.8%53.9%1.7%-1.0%-1.5M-594.5M-10.1M1.0342.18N/AN/A2,6722,75584,35397,253
2021-09-21$279.64$270.0048.6%14.1%27.8%10.4%49.7%4.5%-1.5%1.1M-667.5M-10.6M0.7444.10N/AN/A2,5741,89392,02099,974
2021-09-22$279.52$270.0047.2%13.6%27.8%8.0%47.9%4.2%-0.8%-514.2K-647.4M-10.5M1.4246.07N/AN/A9661,37692,062101,321
2021-09-23$275.11$270.0044.0%12.8%28.2%2.2%45.4%3.4%-1.1%-3.2M-544.9M-10.4M0.7347.22N/AN/A3,6932,71392,969102,319
2021-09-24$274.46$270.0043.2%12.4%27.9%0.7%45.4%3.4%0.6%-5.0M-519.9M-10.3M1.1347.97N/AN/A3,0703,47593,337102,949
2021-09-27$284.57$270.0045.1%13.0%31.2%4.3%47.6%4.1%11.2%-305.2K-741.6M-10.5M1.4847.74N/AN/A3,1104,58990,815100,317
2021-09-28$278.78$270.0047.3%14.2%31.9%8.1%49.8%4.0%13.9%-2.5M-631.6M-10.4M1.2448.63N/AN/A1,2211,51892,192102,251
2021-09-29$271.14$270.0048.0%14.3%30.9%9.4%49.9%4.6%10.7%-8.8M-449.9M-10.2M8.2446.67N/AN/A1,59213,11293,729104,265
2021-09-30$257.24$270.0052.8%14.7%35.7%18.0%53.2%2.4%14.3%-11.4M-121.3M-9.8M1.2952.05N/AN/A5,2306,74294,098104,743