W Options History — April 2023

In April 2023, W traded between $33.94 and $36.88. ATM implied volatility averaged 100.3%, placing in the 41.5% IV rank vs the trailing year. The 30-day expected move averaged 28.3%. IV traded above realized volatility by 48.2% (HV 20d: 52.1%). Max pain ranged from $35.00 to $50.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 1.42.

Notable Days

  • 2023-04-19: Highest Volume — 75,321 contracts
  • 2023-04-05: Largest IV spike — 3.9% change
  • 2023-04-10: Highest IV Rank — 50.9%
  • 2023-04-28: Largest Expected Move — 31.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.52$33.94$36.88$35.86$34.78
Max Pain$43.95$35.00$50.00$35.00$40.00
ATM IV100.3%95.2%105.2%95.2%101.5%
Expected Move28.3%23.7%31.9%23.7%31.9%
HV 20d52.1%41.1%74.6%74.0%44.7%
HV 60d105.0%84.1%116.8%116.8%84.1%
IV Rank41.5%32.1%50.9%41.6%42.8%
IV Percentile58.2%40.5%74.6%40.5%62.7%
Term Structure-3.9%-6.4%-1.7%-1.7%-5.1%
VWIV101.9%84.2%116.2%84.2%116.2%
Skew 25d5.9%3.1%8.8%4.3%5.5%
Skew 10d15.7%8.0%20.9%15.9%20.0%
Call IV 25d99.7%93.6%104.5%98.8%102.3%
Put IV 25d105.6%100.2%109.1%103.1%107.7%
Bid-Ask Spread %8.463.7725.035.427.47
Gamma HHI0.140.110.170.160.15
Net GEX-4.1M-6.1M-2.1M-4.1M-5.5M
Net DEX143.1M74.3M206.6M128.7M206.6M
Net VEX-1.9M-2.1M-1.8M-2.1M-1.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.420.683.550.682.47
Total Volume22,304.9478,69475,32126,61328,305
Total OI492,573.474426,117529,179485,459463,030

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$35.86$35.0095.2%23.7%74.0%41.6%84.2%4.3%-1.7%-4.1M128.7M-2.1M0.685.42N/AN/A15,80810,805153,594331,865
2023-04-04$35.53$35.0098.6%24.0%74.0%47.8%89.0%3.1%-2.8%-3.8M135.4M-2.1M1.413.77N/AN/A6,9009,717160,407337,652
2023-04-05$34.47$35.00102.4%24.3%74.6%47.9%86.0%4.3%-1.8%-4.6M173.5M-2.1M1.784.79N/AN/A3,9837,084162,180339,037
2023-04-06$33.94$50.00103.7%28.1%70.8%47.6%101.0%4.5%-3.7%-6.1M191.4M-2.0M1.294.01N/AN/A9,35012,031163,502342,669
2023-04-10$35.38$50.00105.2%28.9%54.9%50.9%104.8%4.5%-3.4%-4.5M141.6M-2.0M0.734.44N/AN/A11,3498,291156,281338,721
2023-04-11$35.73$50.00103.3%28.6%54.5%46.7%106.5%4.3%-3.0%-3.9M124.6M-2.0M1.075.53N/AN/A7,4307,977165,598343,254
2023-04-12$34.34$50.00104.1%28.9%51.4%48.5%103.2%6.7%-3.2%-5.1M177.2M-2.0M0.797.48N/AN/A11,0568,697167,490346,166
2023-04-13$35.09$50.00102.9%28.6%49.8%45.8%101.0%7.5%-3.3%-4.2M139.3M-1.9M0.7318.62N/AN/A10,9598,054172,756349,244
2023-04-14$34.78$50.00100.9%28.2%50.1%41.5%106.1%7.8%-4.3%-5.5M155.4M-1.9M1.3523.73N/AN/A7,1449,652171,599351,288
2023-04-17$35.25$50.0099.0%28.1%49.2%37.2%99.7%7.3%-4.0%-4.6M126.8M-1.8M1.0725.03N/AN/A11,41312,243159,822337,102
2023-04-18$36.07$50.0097.0%27.7%49.0%32.7%98.9%4.6%-4.4%-3.3M86.3M-1.8M1.484.64N/AN/A6,3079,320166,560340,201
2023-04-19$36.46$50.0097.2%27.9%42.1%33.2%97.6%4.7%-4.7%-2.6M74.3M-1.8M1.245.95N/AN/A33,60041,721168,642343,562
2023-04-20$36.52$40.0096.9%28.0%41.8%32.4%99.7%5.9%-5.6%-2.4M104.8M-1.9M1.724.83N/AN/A3,9866,853173,174347,950
2023-04-21$36.72$40.0096.7%28.3%41.1%32.1%102.9%5.6%-6.4%-2.1M106.7M-1.9M0.8110.89N/AN/A17,96514,570173,896355,283
2023-04-24$36.88$40.0097.9%29.6%41.1%34.8%109.1%8.8%-2.7%-3.2M135.3M-1.9M1.636.46N/AN/A12,97921,108137,573288,544
2023-04-25$35.97$40.00100.4%30.6%41.3%40.4%108.3%7.5%-4.4%-3.7M160.0M-1.9M1.726.39N/AN/A3,5226,067144,201302,024
2023-04-26$34.98$40.00102.0%31.3%42.2%43.8%109.7%7.3%-5.4%-4.4M192.3M-1.9M1.496.02N/AN/A3,4945,200145,512304,536
2023-04-27$36.13$40.00100.7%31.3%43.4%40.9%111.6%7.6%-5.2%-3.8M158.4M-1.9M3.555.22N/AN/A4,14414,710147,054306,927
2023-04-28$34.78$40.00101.5%31.9%44.7%42.8%116.2%5.5%-5.1%-5.5M206.6M-1.9M2.477.47N/AN/A8,15220,153148,378314,652