W Options History — August 2025

In August 2025, W traded between $64.58 and $79.98. ATM implied volatility averaged 54.2%, placing in the 7.2% IV rank vs the trailing year. The 30-day expected move averaged 15.7%. IV traded below realized volatility by 6.8% (HV 20d: 61.0%). Max pain ranged from $45.00 to $65.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.23.

Notable Days

2025-08-04: Highest Volume — 42,857 contracts
2025-08-04: Largest IV drop — 20.8% change
2025-08-01: Highest IV Rank — 29.6%
2025-08-01: Largest Expected Move — 26.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$75.12	$64.58	$79.98	$64.58	$74.17
Max Pain	$57.26	$45.00	$65.00	$50.00	$65.00
ATM IV	54.2%	49.4%	74.1%	74.1%	51.6%
Expected Move	15.7%	14.2%	26.5%	26.5%	14.7%
HV 20d	61.0%	51.2%	65.8%	51.2%	62.9%
HV 60d	55.1%	49.9%	67.1%	63.8%	51.8%
IV Rank	7.2%	1.8%	29.6%	29.6%	4.3%
IV Percentile	6.5%	0.4%	69.0%	69.0%	2.4%
Term Structure	-0.8%	-5.8%	2.9%	-4.1%	2.9%
VWIV	55.5%	50.7%	90.3%	90.3%	51.4%
Skew 25d	1.2%	-9.7%	12.8%	0.7%	2.0%
Skew 10d	7.6%	-24.9%	30.4%	-2.4%	26.3%
Call IV 25d	54.5%	49.0%	73.8%	73.8%	52.3%
Put IV 25d	55.7%	47.9%	74.5%	74.5%	54.3%
Bid-Ask Spread %	29.24	16.06	54.66	25.15	26.02
Gamma HHI	0.07	0.04	0.12	0.09	0.05
Net GEX	2.7M	-1.7M	7.2M	-2.2K	2.9M
Net DEX	-468.7M	-653.7M	-317.4M	-357.3M	-357.7M
Net VEX	-1.9M	-2.2M	-1.7M	-1.9M	-2.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.23	0.58	2.10	0.87	0.93
Total Volume	18,993.571	5,060	42,857	39,745	6,932
Total OI	293,278.857	248,952	326,397	297,826	303,939

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
2025-08-01	$64.58	$50.00	74.1%	26.5%	51.2%	29.6%	90.3%	0.7%	-4.1%	-2.2K	-357.3M	-1.9M	0.87	25.15	N/A	N/A	21,277	18,468	117,178	180,648
2025-08-04	$72.47	$45.00	58.6%	16.0%	61.9%	12.2%	56.5%	-4.7%	-5.8%	6.5M	-536.5M	-1.7M	0.75	37.52	N/A	N/A	24,438	18,419	114,187	181,455
2025-08-05	$73.09	$47.50	55.0%	15.1%	61.7%	8.1%	53.2%	-1.6%	-5.6%	6.9M	-550.2M	-1.7M	0.58	54.66	N/A	N/A	13,149	7,689	117,511	189,217
2025-08-06	$76.56	$47.50	53.4%	15.3%	62.7%	6.3%	53.4%	-9.7%	-1.2%	7.2M	-653.7M	-1.7M	0.73	38.45	N/A	N/A	10,841	7,952	121,477	193,395
2025-08-07	$72.53	$47.50	53.7%	15.6%	65.8%	6.6%	54.3%	0.5%	-0.4%	5.2M	-521.3M	-1.8M	1.43	42.51	N/A	N/A	8,183	11,713	122,369	198,130
2025-08-08	$72.36	$55.00	52.5%	15.0%	63.4%	5.2%	52.9%	12.8%	0.4%	2.6M	-496.7M	-1.9M	1.17	34.88	N/A	N/A	3,394	3,978	123,475	202,922
2025-08-11	$71.72	$55.00	52.3%	15.0%	63.0%	5.0%	52.8%	1.9%	-0.1%	2.0M	-439.6M	-1.8M	1.01	45.21	N/A	N/A	5,711	5,753	109,031	182,860
2025-08-12	$74.50	$55.00	49.4%	14.2%	59.7%	1.8%	50.7%	1.1%	-0.2%	2.7M	-521.6M	-1.7M	0.98	24.61	N/A	N/A	5,004	4,928	112,472	186,069
2025-08-13	$78.88	$55.00	49.9%	14.4%	61.3%	2.4%	51.7%	2.1%	-1.0%	4.3M	-634.0M	-1.7M	1.09	27.00	N/A	N/A	8,413	9,181	114,320	187,256
2025-08-14	$78.44	$57.50	51.1%	14.9%	61.6%	3.6%	52.5%	2.3%	0.5%	3.1M	-608.0M	-1.8M	1.63	16.06	N/A	N/A	3,528	5,765	114,180	192,573
2025-08-15	$78.82	$57.50	50.0%	14.4%	60.8%	2.4%	51.5%	0.5%	0.7%	2.9M	-620.0M	-1.8M	0.75	16.28	N/A	N/A	4,862	3,652	115,645	195,647
2025-08-18	$79.58	$60.00	51.1%	14.7%	60.6%	3.7%	52.6%	1.6%	0.7%	2.3M	-461.0M	-1.8M	1.51	18.63	N/A	N/A	3,165	4,783	93,065	155,887
2025-08-19	$79.72	$60.00	52.4%	15.0%	56.3%	5.2%	53.8%	1.6%	-2.5%	1.8M	-459.7M	-1.8M	1.16	26.69	N/A	N/A	7,306	8,453	94,475	159,221
2025-08-20	$79.98	$60.00	54.1%	15.5%	56.0%	7.1%	56.2%	1.6%	-0.2%	1.2M	-468.3M	-1.9M	1.75	21.89	N/A	N/A	8,956	15,674	99,481	164,060
2025-08-21	$76.36	$62.50	55.8%	16.0%	59.8%	9.0%	56.5%	2.8%	-0.4%	-1.7M	-358.1M	-2.1M	1.94	22.84	N/A	N/A	9,634	18,699	105,825	172,095
2025-08-22	$77.95	$62.50	53.0%	15.1%	59.1%	5.8%	55.0%	1.5%	0.7%	-825.9K	-409.6M	-2.0M	1.05	32.61	N/A	N/A	10,447	10,966	107,823	176,722
2025-08-25	$73.32	$65.00	57.1%	15.7%	63.4%	10.5%	56.2%	1.8%	-3.8%	1.2M	-318.3M	-2.0M	0.71	22.91	N/A	N/A	17,512	12,363	104,712	164,956
2025-08-26	$72.63	$65.00	56.1%	16.2%	63.4%	9.4%	56.5%	3.9%	0.5%	1.8M	-317.4M	-2.1M	1.97	30.99	N/A	N/A	11,494	22,697	112,610	169,423
2025-08-27	$74.37	$65.00	55.3%	15.7%	63.2%	8.4%	56.0%	0.6%	1.6%	1.7M	-362.5M	-2.2M	2.10	27.39	N/A	N/A	5,946	12,480	121,467	180,118
2025-08-28	$75.39	$65.00	52.1%	14.6%	63.2%	4.8%	52.5%	1.8%	1.3%	3.0M	-391.9M	-2.2M	1.65	21.67	N/A	N/A	1,909	3,151	120,690	180,270
2025-08-29	$74.17	$65.00	51.6%	14.7%	62.9%	4.3%	51.4%	2.0%	2.9%	2.9M	-357.7M	-2.2M	0.93	26.02	N/A	N/A	3,593	3,339	122,524	181,415