W Options History — February 2024

In February 2024, W traded between $48.79 and $59.66. ATM implied volatility averaged 87.0%, placing in the 60.7% IV rank vs the trailing year. The 30-day expected move averaged 24.8%. IV traded above realized volatility by 22.4% (HV 20d: 64.7%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.71.

Notable Days

  • 2024-02-22: Highest Volume — 58,830 contracts
  • 2024-02-22: Largest IV drop — 19.8% change
  • 2024-02-16: Highest IV Rank — 90.0%
  • 2024-02-16: Largest Expected Move — 29.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$52.52$48.79$59.66$51.14$59.66
Max Pain$47.67$45.00$50.00$50.00$48.50
ATM IV87.0%66.9%102.3%93.3%66.9%
Expected Move24.8%19.6%29.2%24.9%19.6%
HV 20d64.7%56.3%72.9%61.9%68.5%
HV 60d70.0%67.1%73.2%73.2%70.1%
IV Rank60.7%22.3%90.0%72.6%22.3%
IV Percentile65.3%23.4%95.2%76.6%23.4%
Term Structure-3.2%-12.1%4.1%-5.3%-0.9%
VWIV87.5%68.9%105.1%86.3%68.9%
Skew 25d0.5%-1.9%4.0%0.5%-1.3%
Skew 10d-0.6%-8.6%5.6%1.1%-1.1%
Call IV 25d87.6%67.7%102.1%94.8%69.0%
Put IV 25d88.1%67.7%102.4%95.4%67.7%
Bid-Ask Spread %9.245.1113.4311.0610.56
Gamma HHI0.080.060.150.090.11
Net GEX2.8M369.9K9.1M863.4K9.1M
Net DEX-97.8M-361.1M25.9M-18.9M-361.1M
Net VEX-2.1M-2.3M-2.0M-2.1M-2.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.291.540.750.42
Total Volume26,414.856,68858,83012,68528,174
Total OI310,490.75274,739350,886299,349342,232

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-02-01$51.14$50.0093.3%24.9%61.9%72.6%86.3%0.5%-5.3%863.4K-18.9M-2.1M0.7511.06N/AN/A7,2405,445133,873165,476
2024-02-02$51.00$50.0093.8%25.0%61.5%73.7%87.6%0.8%-5.3%869.0K-13.0M-2.1M0.668.94N/AN/A8,3415,475133,591167,097
2024-02-05$48.84$50.0095.5%25.9%62.9%76.9%91.2%1.5%-3.6%369.9K25.9M-2.0M1.3710.94N/AN/A5,1727,093127,633161,584
2024-02-06$50.50$50.0093.3%25.4%63.9%72.6%89.0%1.0%-3.3%1.1M-8.1M-2.0M0.4413.16N/AN/A4,6542,034130,981166,245
2024-02-07$49.50$50.0094.7%26.0%64.0%75.3%90.7%-0.5%-4.1%582.0K12.5M-2.0M1.3710.56N/AN/A12,34516,953132,343166,872
2024-02-08$51.60$50.0096.8%26.7%66.1%79.3%93.5%-0.6%-4.4%2.7M-52.8M-2.1M0.598.37N/AN/A12,7577,539138,975168,478
2024-02-09$52.73$50.0096.2%26.9%66.7%78.2%94.6%-0.7%-4.0%3.8M-83.7M-2.1M0.729.55N/AN/A4,9173,558142,024169,422
2024-02-12$54.67$50.0097.3%27.5%59.6%80.4%96.2%0.4%-3.5%3.7M-124.3M-2.1M0.336.88N/AN/A18,5126,119135,632162,283
2024-02-13$50.31$50.0097.9%27.9%66.9%81.5%97.3%0.7%-5.7%986.8K-6.5M-2.0M0.689.39N/AN/A8,6665,935141,641165,296
2024-02-14$51.98$50.0092.5%26.5%67.9%71.3%93.9%0.8%-5.0%2.4M-56.5M-2.0M1.548.99N/AN/A22,34934,500143,714166,620
2024-02-15$51.63$45.0095.3%27.5%68.0%76.5%95.7%1.3%-3.3%2.0M-48.5M-2.0M0.9310.28N/AN/A8,8458,219146,976169,696
2024-02-16$52.18$45.00102.3%29.2%59.7%90.0%105.1%0.2%-3.8%2.2M-72.2M-2.1M0.559.39N/AN/A16,6159,098150,507171,037
2024-02-20$50.19$45.0088.6%27.8%56.3%63.7%97.5%4.0%-0.3%843.7K-56.9M-2.1M0.425.93N/AN/A19,4228,181119,449155,290
2024-02-21$48.79$45.0087.7%28.7%56.6%62.0%101.4%4.0%4.1%1.0M-50.4M-2.1M0.655.95N/AN/A32,92021,511131,889161,215
2024-02-22$54.18$45.0070.3%20.9%66.5%28.9%73.0%-1.5%0.4%5.2M-196.8M-2.2M0.475.11N/AN/A40,10518,725154,761178,360
2024-02-23$52.97$45.0071.5%19.7%66.9%31.1%70.0%-1.1%-0.3%3.5M-158.4M-2.1M1.0013.43N/AN/A15,72615,654167,482183,404
2024-02-26$52.92$45.0069.1%20.0%66.5%26.6%71.3%2.7%-12.1%2.8M-128.9M-2.1M0.578.59N/AN/A11,3656,505145,051164,747
2024-02-27$57.54$45.0068.8%20.5%72.9%25.8%72.3%-1.1%-1.5%5.8M-262.5M-2.2M0.429.89N/AN/A28,06111,848148,764166,850
2024-02-28$58.11$45.0068.7%20.3%69.6%25.8%73.6%-1.9%-2.2%7.0M-294.5M-2.3M0.297.74N/AN/A21,4466,273160,864171,461
2024-02-29$59.66$48.5066.9%19.6%68.5%22.3%68.9%-1.3%-0.9%9.1M-361.1M-2.3M0.4210.56N/AN/A19,8588,316168,798173,434