W Options History — January 2025

In January 2025, W traded between $42.99 and $49.73. ATM implied volatility averaged 65.7%, placing in the 32.7% IV rank vs the trailing year. The 30-day expected move averaged 20.0%. IV traded above realized volatility by 15.1% (HV 20d: 50.5%). Max pain ranged from $45.00 to $49.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.79.

Notable Days

  • 2025-01-21: Highest Volume — 21,576 contracts
  • 2025-01-27: Largest IV spike — 11.4% change
  • 2025-01-28: Highest IV Rank — 49.9%
  • 2025-01-31: Largest Expected Move — 23.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.45$42.99$49.73$45.45$48.05
Max Pain$45.35$45.00$49.00$49.00$45.00
ATM IV65.7%60.2%75.0%61.2%74.8%
Expected Move20.0%17.2%23.1%17.8%23.1%
HV 20d50.5%43.9%60.7%57.6%45.7%
HV 60d62.0%59.2%63.3%61.9%59.2%
IV Rank32.7%22.6%49.9%24.6%49.5%
IV Percentile48.8%29.0%68.7%33.3%68.7%
Term Structure2.6%-4.2%9.6%0.6%-2.9%
VWIV70.2%60.8%80.7%62.4%80.7%
Skew 25d1.7%-2.2%6.9%2.6%3.8%
Skew 10d-2.9%-31.8%23.7%6.3%6.3%
Call IV 25d65.2%59.8%74.5%60.7%74.5%
Put IV 25d66.8%60.0%78.3%63.3%78.3%
Bid-Ask Spread %29.1315.7542.2139.4321.04
Gamma HHI0.120.060.580.070.08
Net GEX-4.6K-12.2M8.3M-1.0M-600.3K
Net DEX-15.4M-88.2M62.3M16.1M-42.7M
Net VEX-1.6M-1.7M-1.5M-1.6M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.790.222.970.481.07
Total Volume11,910.354,41121,57612,77211,371
Total OI237,515.9175,551287,724264,110203,017

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-01-02$45.45$49.0061.2%17.8%57.6%24.6%62.4%2.6%0.6%-1.0M16.1M-1.6M0.4839.43N/AN/A8,6444,128107,873156,237
2025-01-03$45.90$48.0060.3%17.2%57.7%22.9%60.8%2.0%1.2%175.4K-9.5M-1.6M0.5542.21N/AN/A7,1643,924115,006158,343
2025-01-06$48.24$45.0062.0%20.1%60.7%26.1%70.0%0.6%0.2%267.2K-54.5M-1.7M0.3619.79N/AN/A9,3543,367111,936153,649
2025-01-07$45.84$45.0062.8%20.5%54.8%27.4%72.6%1.8%0.4%37.8K-4.2M-1.6M0.3424.29N/AN/A8,2042,797116,595155,397
2025-01-08$44.89$45.0061.8%20.2%53.3%25.6%71.0%4.2%0.6%-831.7K24.5M-1.6M2.9728.68N/AN/A2,0286,025115,656156,586
2025-01-10$44.11$45.0062.8%20.5%53.3%27.5%72.3%2.1%0.9%-2.1M47.3M-1.5M0.5234.34N/AN/A9,8275,138117,218159,312
2025-01-13$43.95$45.0063.5%20.5%52.9%28.8%74.2%2.6%8.1%-1.2M44.1M-1.5M0.2733.91N/AN/A8,8862,370115,850157,112
2025-01-14$42.99$45.0063.1%20.6%52.3%28.0%73.7%1.8%9.6%-1.3M61.6M-1.5M0.4233.64N/AN/A9,9764,221117,857158,031
2025-01-15$43.02$45.0060.2%19.7%52.0%22.6%68.6%-2.2%8.3%-1.1M62.3M-1.5M0.2238.38N/AN/A14,4063,212122,495159,955
2025-01-16$43.31$45.0061.6%19.4%52.2%25.2%68.0%0.7%8.3%-471.5K52.6M-1.5M0.9541.84N/AN/A6,2795,937126,942160,782
2025-01-17$44.89$45.0062.7%19.6%54.5%27.3%68.2%-0.9%9.4%-12.2M4.5M-1.5M0.7941.47N/AN/A6,6055,199126,896160,325
2025-01-21$48.15$45.0067.5%19.6%48.7%36.1%69.0%0.7%0.6%1.1M-58.3M-1.5M0.6024.15N/AN/A13,5148,06274,169101,382
2025-01-22$47.52$45.0067.3%19.3%46.4%35.6%67.4%0.5%4.2%1.2M-41.5M-1.6M2.0716.12N/AN/A1,4372,97477,590105,264
2025-01-23$47.62$45.0064.7%18.4%45.0%31.0%63.9%-0.3%4.4%1.4M-42.9M-1.6M0.8929.57N/AN/A4,8024,27478,659107,671
2025-01-24$48.23$45.0063.1%17.3%45.1%28.0%62.1%-1.2%6.5%8.3M-63.6M-1.6M0.3426.65N/AN/A13,1494,43582,841110,357
2025-01-27$48.64$45.0070.3%18.5%44.9%41.2%65.2%6.9%1.0%1.3M-60.0M-1.6M0.3626.86N/AN/A6,2682,26180,780107,208
2025-01-28$49.73$45.0075.0%22.2%45.4%49.9%77.3%2.7%-4.2%2.2M-88.0M-1.7M0.8915.75N/AN/A5,0414,48184,557109,261
2025-01-29$48.72$45.0074.6%22.5%44.5%49.0%78.7%0.5%-3.0%1.8M-67.2M-1.7M1.0919.50N/AN/A2,6922,92186,283111,480
2025-01-30$49.73$45.0074.1%22.7%43.9%48.2%78.8%4.8%-1.8%3.1M-88.2M-1.7M0.5924.87N/AN/A8,0474,78786,666113,080
2025-01-31$48.05$45.0074.8%23.1%45.7%49.5%80.7%3.8%-2.9%-600.3K-42.7M-1.6M1.0721.04N/AN/A5,5025,86988,392114,625