W Options History — May 2023

In May 2023, W traded between $31.29 and $40.56. ATM implied volatility averaged 80.5%, placing in the 9.4% IV rank vs the trailing year. The 30-day expected move averaged 24.2%. IV traded above realized volatility by 0.3% (HV 20d: 80.2%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 3 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 1.50.

Notable Days

  • 2023-05-03: Highest Volume — 96,808 contracts
  • 2023-05-04: Largest IV drop — 23.3% change
  • 2023-05-02: Highest IV Rank — 56.3%
  • 2023-05-03: Largest Expected Move — 36.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.24$31.29$40.56$32.76$40.20
Max Pain$40.00$40.00$40.00$40.00$40.00
ATM IV80.5%74.1%107.6%102.3%80.4%
Expected Move24.2%21.3%36.9%33.8%24.3%
HV 20d80.2%42.8%94.6%46.2%93.6%
HV 60d81.7%69.5%92.2%83.4%73.1%
IV Rank9.4%0.0%56.3%44.6%11.8%
IV Percentile11.8%0.0%79.4%65.5%6.7%
Term Structure-0.9%-4.7%2.4%-2.9%-2.9%
VWIV86.9%75.3%136.7%124.9%87.8%
Skew 25d4.0%1.0%9.4%9.2%1.0%
Skew 10d8.7%4.5%20.9%20.9%4.8%
Call IV 25d80.1%73.4%106.4%98.3%81.1%
Put IV 25d84.1%77.5%114.0%107.5%82.1%
Bid-Ask Spread %5.142.8215.805.373.41
Gamma HHI0.130.070.360.150.07
Net GEX-2.8M-7.3M4.9M-4.6M1.1M
Net DEX104.9M-51.8M264.4M241.3M-22.2M
Net VEX-1.8M-1.9M-1.7M-1.7M-1.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.500.645.685.681.14
Total Volume32,474.7735,30896,80877,42210,514
Total OI445,666.182322,045543,067433,129349,976

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$32.76$40.00102.3%33.8%46.2%44.6%124.9%9.2%-2.9%-4.6M241.3M-1.7M5.685.37N/AN/A11,59865,824137,361295,768
2023-05-02$31.73$40.00107.6%36.0%42.8%56.3%128.7%9.4%-4.7%-4.9M264.4M-1.8M1.124.85N/AN/A19,88222,305142,867309,431
2023-05-03$31.29$40.00107.3%36.9%42.9%55.7%136.7%7.1%-3.2%-4.6M261.4M-1.8M3.3310.32N/AN/A22,37174,437151,324312,268
2023-05-04$36.38$40.0082.3%23.9%69.4%0.2%84.3%5.9%-0.8%-3.2M125.1M-1.9M1.124.48N/AN/A40,24344,891167,752345,451
2023-05-05$40.30$40.0076.1%22.6%77.5%0.0%82.3%1.8%0.8%4.9M-51.8M-1.9M1.3315.80N/AN/A24,86333,130183,193359,874
2023-05-08$40.27$40.0076.6%22.4%76.5%0.8%79.0%2.7%1.9%-1.9M14.9M-1.9M1.266.69N/AN/A10,74913,545156,219335,078
2023-05-09$37.17$40.0076.7%22.6%82.4%1.0%79.6%3.3%2.4%-3.9M127.0M-1.8M1.2410.35N/AN/A12,95316,008156,498337,433
2023-05-10$35.85$40.0075.9%22.4%82.2%0.0%80.5%3.5%2.4%-5.1M178.6M-1.8M1.743.42N/AN/A14,28224,837162,252341,367
2023-05-11$36.36$40.0075.0%21.9%82.0%0.0%75.9%3.4%1.7%-4.7M136.8M-1.9M0.913.32N/AN/A5,8615,353168,263342,578
2023-05-12$34.72$40.0074.6%21.6%83.7%0.0%80.6%3.7%1.1%-6.9M208.7M-1.8M1.782.99N/AN/A8,71915,555170,714344,967
2023-05-15$36.58$40.0076.2%22.0%85.6%3.1%77.9%4.8%-2.4%-3.7M115.1M-1.8M0.932.82N/AN/A8,1487,571157,163335,112
2023-05-16$35.81$40.0075.2%21.6%85.6%1.2%77.7%4.3%-2.2%-4.0M143.4M-1.8M2.652.86N/AN/A4,23111,191160,064338,562
2023-05-17$37.09$40.0074.9%21.5%86.5%0.6%75.3%4.8%-2.2%-2.9M72.1M-1.8M1.414.10N/AN/A6,2758,840161,323336,211
2023-05-18$38.28$40.0074.1%21.3%87.2%0.0%76.1%4.5%-0.5%-945.3K-6.9M-1.8M0.785.71N/AN/A10,6428,343162,979334,347
2023-05-19$35.55$40.0075.7%21.9%91.3%3.0%76.8%3.1%-2.5%-7.3M80.2M-1.8M1.123.28N/AN/A24,57427,473167,403339,368
2023-05-22$34.66$40.0076.5%22.6%91.6%4.5%82.3%3.2%-0.9%-2.5M107.9M-1.8M0.743.10N/AN/A15,26011,322108,394213,651
2023-05-23$35.28$40.0076.4%22.4%91.5%4.4%79.8%2.1%-1.6%-1.8M87.0M-1.8M0.823.46N/AN/A9,5357,803118,479220,981
2023-05-24$35.12$40.0075.8%22.6%91.0%3.3%79.9%2.2%-0.5%-2.1M89.0M-1.8M1.723.39N/AN/A2,6314,513120,784223,434
2023-05-25$35.00$40.0076.8%22.9%90.2%5.0%80.3%3.0%-0.5%-2.1M92.5M-1.8M0.725.48N/AN/A3,0832,225123,466225,598
2023-05-26$36.34$40.0074.7%22.0%90.1%1.2%78.8%2.9%0.3%-667.1K62.9M-1.8M0.774.03N/AN/A7,4275,682126,653226,851
2023-05-30$40.56$40.0079.1%24.2%94.6%9.5%87.1%1.3%-2.2%106.7K-20.6M-1.9M0.643.81N/AN/A18,09511,661117,364215,835
2023-05-31$40.20$40.0080.4%24.3%93.6%11.8%87.8%1.0%-2.9%1.1M-22.2M-1.9M1.143.41N/AN/A4,9165,598128,076221,900