W Options History — January 2024

In January 2024, W traded between $50.37 and $59.17. ATM implied volatility averaged 78.1%, placing in the 43.7% IV rank vs the trailing year. The 30-day expected move averaged 20.5%. IV traded above realized volatility by 10.9% (HV 20d: 67.3%). Max pain ranged from $50.00 to $60.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 1.14.

Notable Days

2024-01-19: Highest Volume — 69,639 contracts
2024-01-22: Largest IV spike — 13.9% change
2024-01-30: Highest IV Rank — 80.0%
2024-01-30: Largest Expected Move — 22.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$54.72	$50.37	$59.17	$58.56	$50.37
Max Pain	$54.71	$50.00	$60.00	$54.00	$50.00
ATM IV	78.1%	66.7%	97.1%	70.6%	96.2%
Expected Move	20.5%	19.5%	22.6%	20.1%	22.0%
HV 20d	67.3%	52.7%	80.6%	77.7%	64.6%
HV 60d	73.4%	70.6%	75.5%	74.8%	74.0%
IV Rank	43.7%	21.9%	80.0%	29.3%	78.3%
IV Percentile	46.3%	21.8%	84.5%	31.3%	83.3%
Term Structure	1.3%	-6.6%	11.3%	0.1%	-5.1%
VWIV	72.9%	68.8%	81.3%	71.2%	78.7%
Skew 25d	0.3%	-1.2%	3.7%	-0.8%	-0.3%
Skew 10d	1.2%	-2.3%	11.7%	-2.3%	-1.0%
Call IV 25d	79.0%	67.1%	97.4%	72.7%	96.9%
Put IV 25d	79.3%	67.4%	96.9%	71.9%	96.6%
Bid-Ask Spread %	35.25	11.06	57.16	45.63	14.22
Gamma HHI	0.07	0.04	0.12	0.05	0.08
Net GEX	784.1K	-1.7M	3.2M	701.2K	299.8K
Net DEX	-73.1M	-187.0M	31.2M	-131.5M	4.2M
Net VEX	-2.0M	-2.2M	-1.8M	-2.1M	-2.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.14	0.43	5.80	0.80	0.50
Total Volume	20,052.524	8,734	69,639	14,741	17,305
Total OI	352,720.143	268,420	413,413	380,546	292,771

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2024-01-02	$58.56	$54.00	70.6%	20.1%	77.7%	29.3%	71.2%	-0.8%	0.1%	701.2K	-131.5M	-2.1M	0.80	45.63	N/A	N/A	8,191	6,550	163,307	217,239
2024-01-03	$55.13	$55.00	71.1%	20.2%	80.6%	30.4%	72.3%	1.2%	0.6%	-874.6K	-49.7M	-2.0M	0.88	45.09	N/A	N/A	12,706	11,123	166,027	218,681
2024-01-04	$56.08	$60.00	70.6%	20.5%	79.8%	29.4%	72.6%	-0.1%	0.4%	-103.2K	-81.7M	-2.1M	0.85	48.74	N/A	N/A	8,015	6,794	170,007	218,485
2024-01-05	$55.22	$60.00	68.8%	20.3%	77.2%	26.0%	71.1%	0.5%	-0.2%	329.8K	-64.8M	-2.0M	0.84	43.13	N/A	N/A	9,812	8,211	174,178	221,910
2024-01-08	$56.23	$60.00	67.1%	19.9%	77.4%	22.7%	70.7%	-0.0%	2.4%	949.2K	-93.4M	-2.0M	0.85	50.98	N/A	N/A	7,510	6,406	166,613	214,207
2024-01-09	$55.51	$60.00	66.7%	19.6%	76.0%	22.0%	72.2%	-1.2%	1.9%	791.6K	-78.4M	-2.0M	0.43	45.44	N/A	N/A	10,234	4,391	170,244	218,379
2024-01-10	$55.92	$60.00	66.9%	19.6%	76.0%	22.3%	69.2%	-0.7%	1.6%	1.3M	-90.1M	-2.0M	0.59	42.99	N/A	N/A	8,218	4,820	176,116	220,983
2024-01-11	$55.44	$60.00	66.7%	19.5%	71.6%	21.9%	68.8%	0.3%	1.4%	879.3K	-72.8M	-2.0M	0.68	57.16	N/A	N/A	7,421	5,071	178,350	221,806
2024-01-12	$50.73	$60.00	67.3%	19.6%	65.1%	23.1%	71.1%	0.5%	1.6%	-1.7M	31.2M	-1.8M	1.50	46.11	N/A	N/A	7,421	11,142	179,422	223,001
2024-01-16	$51.46	$60.00	70.5%	20.2%	52.9%	29.2%	73.4%	0.2%	10.6%	-969.2K	4.2M	-1.8M	0.99	43.19	N/A	N/A	10,337	10,264	174,864	221,104
2024-01-17	$51.21	$60.00	71.3%	20.5%	52.7%	30.8%	71.5%	0.9%	11.3%	-756.6K	1.1M	-1.9M	5.80	41.64	N/A	N/A	5,599	32,466	180,164	223,905
2024-01-18	$51.09	$50.00	71.7%	20.0%	52.8%	31.5%	69.5%	1.6%	9.9%	-953.9K	24.1M	-1.9M	1.71	28.11	N/A	N/A	9,657	16,504	179,406	224,083
2024-01-19	$55.84	$50.00	76.4%	20.9%	59.1%	40.4%	73.9%	-0.3%	9.3%	1.4M	-139.5M	-2.0M	0.81	51.09	N/A	N/A	38,411	31,228	185,104	228,309
2024-01-22	$59.17	$50.00	87.0%	21.4%	63.3%	60.7%	75.7%	3.7%	1.8%	3.2M	-187.0M	-2.2M	0.47	19.65	N/A	N/A	15,978	7,553	115,337	153,083
2024-01-23	$58.17	$50.00	84.6%	20.6%	61.6%	56.0%	73.5%	0.4%	2.0%	3.2M	-164.5M	-2.2M	0.91	21.66	N/A	N/A	5,842	5,314	122,267	156,500
2024-01-24	$54.89	$50.00	90.2%	20.1%	64.2%	66.8%	71.0%	1.1%	-3.5%	1.7M	-86.1M	-2.1M	0.93	23.22	N/A	N/A	7,481	6,932	125,040	158,434
2024-01-25	$55.02	$50.00	92.7%	20.9%	64.1%	71.5%	74.4%	-0.8%	-3.2%	2.1M	-95.5M	-2.2M	0.51	25.51	N/A	N/A	10,434	5,314	129,130	160,980
2024-01-26	$56.03	$50.00	92.7%	20.7%	64.8%	71.5%	72.8%	0.3%	-6.6%	1.7M	-126.8M	-2.2M	1.96	16.05	N/A	N/A	5,208	10,188	133,269	163,665
2024-01-29	$54.96	$50.00	94.4%	21.6%	64.9%	74.9%	76.2%	0.3%	-3.7%	2.3M	-102.5M	-2.1M	0.72	11.06	N/A	N/A	5,084	3,650	122,366	155,596
2024-01-30	$51.99	$50.00	97.1%	22.6%	66.2%	80.0%	81.3%	-0.5%	-5.1%	1.1M	-35.0M	-2.1M	1.32	19.68	N/A	N/A	7,021	9,297	124,970	157,821
2024-01-31	$50.37	$50.00	96.2%	22.0%	64.6%	78.3%	78.7%	-0.3%	-5.1%	299.8K	4.2M	-2.1M	0.50	14.22	N/A	N/A	11,542	5,763	129,171	163,600