W Options History — March 2022

In March 2022, W traded between $104.63 and $131.39. ATM implied volatility averaged 77.1%, placing in the 57.3% IV rank vs the trailing year. The 30-day expected move averaged 24.0%. IV traded above realized volatility by 1.1% (HV 20d: 76.1%). Max pain ranged from $145.00 to $190.00. Net GEX was positive for 8 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.85.

Notable Days

  • 2022-03-16: Highest Volume — 46,231 contracts
  • 2022-03-16: Largest IV drop — 10.6% change
  • 2022-03-14: Highest IV Rank — 80.7%
  • 2022-03-07: Largest Expected Move — 27.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$121.49$104.63$131.39$131.35$112.43
Max Pain$158.04$145.00$190.00$145.00$155.00
ATM IV77.1%67.0%91.1%83.4%73.0%
Expected Move24.0%22.0%27.2%25.5%23.6%
HV 20d76.1%64.1%90.1%75.6%90.1%
HV 60d71.2%67.6%78.2%69.8%78.2%
IV Rank57.3%40.5%80.7%67.7%50.3%
IV Percentile84.5%72.2%94.8%90.9%84.1%
Term Structure1.8%-5.9%14.7%0.1%13.7%
VWIV82.8%73.0%93.0%90.4%84.9%
Skew 25d9.6%6.3%13.4%13.4%7.4%
Skew 10d19.8%14.1%25.9%25.9%18.2%
Call IV 25d72.5%63.7%84.8%76.5%66.3%
Put IV 25d82.1%70.7%97.4%89.8%73.7%
Bid-Ask Spread %38.3821.6047.6325.9047.63
Gamma HHI0.060.040.100.040.07
Net GEX-1.7M-4.5M2.3M-3.8M-943.7K
Net DEX439.5M186.8M608.0M526.6M396.1M
Net VEX-3.7M-4.7M-2.6M-3.5M-3.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.850.091.481.481.20
Total Volume16,417.3918,70946,23111,49612,784
Total OI167,717.522141,008193,264141,008193,231

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-03-01$131.35$145.0083.4%25.5%75.6%67.7%90.4%13.4%0.1%-3.8M526.6M-3.5M1.4825.90N/AN/A4,6386,85853,98287,026
2022-03-02$131.39$145.0078.0%22.7%72.9%58.8%79.7%10.2%-0.3%-4.2M545.8M-3.4M1.3121.60N/AN/A4,5605,97354,48988,059
2022-03-03$122.22$145.0080.9%24.3%69.7%63.6%83.1%10.3%0.9%-4.5M583.1M-3.1M1.1729.45N/AN/A7,2388,49254,87688,944
2022-03-04$124.50$145.0082.6%24.6%66.8%66.5%85.1%11.4%-1.0%-4.2M579.5M-3.2M1.2325.54N/AN/A8,0499,91858,03992,124
2022-03-07$126.60$145.0087.7%27.2%64.7%74.9%91.8%11.3%-0.6%-3.8M546.6M-3.6M1.1731.91N/AN/A9,27210,82258,15592,586
2022-03-08$130.74$145.0087.7%27.2%65.9%74.9%93.0%10.2%-1.3%-3.5M511.7M-3.9M1.0433.85N/AN/A8,3918,68762,09195,806
2022-03-09$125.50$145.0082.2%25.6%64.9%65.8%90.4%8.7%-0.4%-4.0M567.9M-3.4M1.0933.62N/AN/A4,1594,55061,18194,826
2022-03-10$120.80$145.0081.8%26.1%64.1%65.1%90.4%11.4%1.0%-4.5M592.0M-3.2M0.9825.82N/AN/A5,0424,94561,62894,833
2022-03-11$114.50$145.0083.7%25.6%65.5%68.3%89.3%11.1%0.8%-4.1M608.0M-2.9M0.9335.92N/AN/A8,4097,79962,47895,319
2022-03-14$104.63$190.0091.1%25.9%71.1%80.7%88.8%12.6%-5.9%-3.2M585.8M-2.6M0.9439.51N/AN/A6,4906,07662,14087,910
2022-03-15$113.52$180.0087.8%26.0%79.1%75.2%85.8%11.3%-4.6%-3.1M557.6M-3.0M0.6143.80N/AN/A9,2205,62663,90488,739
2022-03-16$118.00$175.0078.5%23.9%79.4%59.6%82.3%10.6%-2.4%-3.1M557.9M-3.2M0.0943.38N/AN/A42,5333,69864,46990,404
2022-03-17$119.05$175.0074.5%22.9%75.3%52.9%76.8%10.7%0.7%-30.3K362.6M-4.2M0.3441.83N/AN/A13,0844,502100,25390,855
2022-03-18$123.10$175.0070.5%22.0%75.7%46.3%75.9%8.2%0.3%1.2M317.9M-4.3M0.3941.97N/AN/A16,3496,297101,95491,310
2022-03-21$118.03$160.0070.2%22.2%76.8%45.7%73.0%10.3%2.3%823.7K314.2M-4.1M0.3545.99N/AN/A13,7034,75692,89783,459
2022-03-22$128.97$160.0067.0%22.1%81.6%40.5%75.9%6.3%-0.3%2.0M206.6M-4.7M0.5441.89N/AN/A12,3826,72793,71783,839
2022-03-23$121.49$160.0071.3%22.3%84.5%47.5%74.3%7.3%-2.1%513.6K291.4M-4.3M0.5245.62N/AN/A9,8205,11195,99186,181
2022-03-24$121.88$160.0068.6%22.1%83.2%43.1%75.2%9.2%0.0%102.4K296.5M-4.3M0.4944.95N/AN/A8,3174,07797,03087,231
2022-03-25$114.79$160.0069.2%22.8%84.1%44.0%79.3%8.8%0.7%-322.2K366.5M-3.9M0.7845.80N/AN/A9,1057,08898,31087,454
2022-03-28$119.25$160.0067.8%22.8%82.3%41.8%81.1%6.6%13.4%800.8K313.5M-4.1M1.1346.22N/AN/A8,0089,05695,73185,467
2022-03-29$130.04$160.0067.0%22.2%86.3%40.5%79.3%7.0%12.5%2.3M186.8M-4.7M0.6643.97N/AN/A8,4845,58897,41790,561
2022-03-30$121.53$160.0069.6%23.0%89.5%44.8%78.8%7.6%14.7%756.5K294.5M-4.3M1.1046.53N/AN/A5,1995,71898,70391,904
2022-03-31$112.43$155.0073.0%23.6%90.1%50.3%84.9%7.4%13.7%-943.7K396.1M-3.8M1.2047.63N/AN/A5,8066,97899,96793,264