W Options History — April 2025

In April 2025, W traded between $23.53 and $34.05. ATM implied volatility averaged 105.9%, placing in the 71.5% IV rank vs the trailing year. The 30-day expected move averaged 31.1%. IV traded below realized volatility by 47.3% (HV 20d: 153.2%). Max pain ranged from $27.50 to $40.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 0.97.

Notable Days

2025-04-03: Highest Volume — 70,313 contracts
2025-04-03: Largest IV spike — 31.7% change
2025-04-02: Highest IV Rank — 100.0%
2025-04-08: Largest Expected Move — 38.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$27.94	$23.53	$34.05	$32.11	$29.96
Max Pain	$31.33	$27.50	$40.00	$40.00	$32.50
ATM IV	105.9%	82.9%	136.4%	82.9%	102.6%
Expected Move	31.1%	23.1%	38.7%	23.5%	31.9%
HV 20d	153.2%	81.5%	170.7%	81.5%	165.1%
HV 60d	102.3%	66.7%	111.6%	66.7%	111.5%
IV Rank	71.5%	44.3%	100.0%	82.1%	61.8%
IV Percentile	97.0%	92.1%	100.0%	92.1%	96.4%
Term Structure	-3.8%	-26.6%	17.4%	-0.4%	-1.8%
VWIV	112.0%	80.3%	134.2%	81.8%	112.3%
Skew 25d	29.9%	3.8%	83.1%	3.8%	19.3%
Skew 10d	38.7%	-0.4%	83.5%	11.8%	15.0%
Call IV 25d	87.7%	48.3%	111.7%	83.2%	85.3%
Put IV 25d	117.6%	87.0%	145.2%	87.0%	104.6%
Bid-Ask Spread %	40.96	21.04	58.28	36.03	43.20
Gamma HHI	0.07	0.05	0.17	0.06	0.06
Net GEX	-816.8K	-2.0M	745.1K	-1.1M	-764.8K
Net DEX	129.0M	67.6M	216.5M	116.0M	90.0M
Net VEX	-1.4M	-1.6M	-1.1M	-1.5M	-1.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.97	0.29	3.00	0.55	0.76
Total Volume	21,072.667	6,716	70,313	14,113	41,959
Total OI	319,494.333	277,943	359,678	298,035	293,383

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
2025-04-01	$32.11	$40.00	82.9%	23.5%	81.5%	82.1%	81.8%	3.8%	-0.4%	-1.1M	116.0M	-1.5M	0.55	36.03	N/A	N/A	9,094	5,019	137,646	160,389
2025-04-02	$34.05	$40.00	91.5%	23.1%	84.4%	100.0%	80.3%	7.2%	-6.5%	-426.9K	75.0M	-1.6M	0.32	31.94	N/A	N/A	13,320	4,309	134,806	162,192
2025-04-03	$25.06	$40.00	120.4%	30.8%	137.3%	100.0%	114.3%	11.5%	-14.0%	-1.8M	216.5M	-1.1M	1.17	42.92	N/A	N/A	32,423	37,890	143,849	164,211
2025-04-04	$26.45	$32.50	123.5%	35.0%	136.4%	100.0%	130.3%	40.7%	-0.8%	-490.6K	174.1M	-1.4M	0.80	48.86	N/A	N/A	16,896	13,500	170,107	185,621
2025-04-07	$26.49	$32.50	136.4%	35.4%	136.2%	100.0%	130.1%	71.4%	-26.6%	-717.0K	140.7M	-1.4M	0.46	45.08	N/A	N/A	21,379	9,888	149,912	170,046
2025-04-08	$23.53	$32.50	123.9%	38.7%	140.5%	85.9%	129.3%	32.6%	1.9%	-829.3K	173.2M	-1.2M	0.82	46.17	N/A	N/A	8,953	7,298	165,331	172,073
2025-04-09	$29.32	$32.50	96.6%	30.7%	164.0%	55.1%	134.2%	33.4%	5.5%	-111.2K	107.8M	-1.5M	0.83	58.28	N/A	N/A	16,629	13,781	168,021	175,978
2025-04-10	$25.70	$32.50	126.9%	36.2%	168.7%	89.3%	116.2%	83.1%	-0.2%	-739.6K	160.5M	-1.3M	0.62	55.81	N/A	N/A	7,106	4,435	172,227	181,180
2025-04-11	$26.71	$30.00	122.4%	33.1%	169.3%	84.2%	114.9%	32.3%	-14.2%	-758.3K	148.6M	-1.4M	0.95	49.90	N/A	N/A	6,519	6,199	176,746	182,932
2025-04-14	$27.50	$30.00	111.8%	31.5%	169.6%	72.1%	115.9%	23.8%	-1.8%	-1.2M	151.1M	-1.4M	0.71	51.73	N/A	N/A	7,038	4,981	169,355	180,892
2025-04-15	$26.55	$30.00	100.5%	28.9%	168.7%	59.5%	105.9%	20.3%	-12.1%	-1.7M	177.2M	-1.3M	1.32	56.50	N/A	N/A	2,895	3,821	170,902	183,361
2025-04-16	$24.82	$30.00	111.0%	31.8%	168.6%	71.3%	106.7%	20.1%	17.4%	-1.5M	197.1M	-1.2M	3.00	53.22	N/A	N/A	5,657	16,974	172,861	184,892
2025-04-17	$26.46	$27.50	101.7%	29.2%	170.7%	60.8%	108.9%	19.5%	-0.2%	-2.0M	170.9M	-1.3M	2.01	36.52	N/A	N/A	5,388	10,817	175,034	182,280
2025-04-21	$25.59	$27.50	104.9%	33.7%	168.4%	64.4%	117.4%	61.5%	-5.9%	-947.7K	124.3M	-1.2M	1.85	21.04	N/A	N/A	4,414	8,184	122,224	155,719
2025-04-22	$27.17	$28.00	94.9%	31.2%	163.6%	53.1%	110.1%	20.0%	2.6%	-807.6K	109.7M	-1.3M	0.55	27.50	N/A	N/A	10,269	5,664	123,921	161,394
2025-04-23	$28.30	$28.00	102.2%	31.2%	164.4%	61.3%	100.2%	22.0%	-7.9%	-314.1K	88.8M	-1.4M	0.32	32.20	N/A	N/A	22,112	7,117	128,837	164,206
2025-04-24	$29.66	$28.00	95.1%	29.2%	165.4%	53.3%	104.9%	17.4%	-5.6%	-31.9K	71.0M	-1.5M	0.99	36.33	N/A	N/A	6,575	6,523	129,611	166,856
2025-04-25	$29.22	$28.00	94.5%	29.4%	165.4%	52.6%	107.2%	20.3%	-7.1%	745.1K	77.9M	-1.4M	0.77	33.91	N/A	N/A	4,751	3,656	131,736	168,927
2025-04-28	$30.79	$28.00	93.1%	29.7%	164.9%	51.1%	108.9%	52.1%	2.3%	-891.8K	71.9M	-1.5M	1.23	25.50	N/A	N/A	4,183	5,145	121,275	161,294
2025-04-29	$31.20	$28.00	87.1%	29.6%	164.5%	44.3%	121.6%	16.0%	-4.2%	-831.3K	67.6M	-1.5M	0.29	27.54	N/A	N/A	15,306	4,459	123,377	163,777
2025-04-30	$29.96	$32.50	102.6%	31.9%	165.1%	61.8%	112.3%	19.3%	-1.8%	-764.8K	90.0M	-1.5M	0.76	43.20	N/A	N/A	23,799	18,160	127,352	166,031