W Options History — March 2026

In March 2026, W traded between $69.59 and $80.12. ATM implied volatility averaged 69.9%, placing in the 23.5% IV rank vs the trailing year. The 30-day expected move averaged 20.2%. IV traded below realized volatility by 2.6% (HV 20d: 72.5%). Max pain ranged from $75.00 to $85.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 1.90.

Notable Days

  • 2026-03-31: Highest Volume — 29,263 contracts
  • 2026-03-10: Largest IV drop — 11.3% change
  • 2026-03-30: Highest IV Rank — 40.8%
  • 2026-03-30: Largest Expected Move — 24.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$75.60$69.59$80.12$74.34$74.94
Max Pain$79.84$75.00$85.00$85.00$75.00
ATM IV69.9%63.9%84.9%68.8%82.4%
Expected Move20.2%18.5%24.1%20.7%23.6%
HV 20d72.5%53.5%94.0%90.7%62.6%
HV 60d64.3%62.4%68.1%63.4%68.1%
IV Rank23.5%16.7%40.8%22.2%37.9%
IV Percentile58.4%44.4%87.7%54.8%85.3%
Term Structure1.5%-3.6%8.5%0.2%3.4%
VWIV70.3%64.3%85.7%73.0%77.1%
Skew 25d6.1%0.9%13.7%5.4%13.7%
Skew 10d15.2%-1.2%46.1%21.7%21.9%
Call IV 25d66.5%60.5%80.3%66.8%78.0%
Put IV 25d72.6%65.1%92.6%72.2%91.7%
Bid-Ask Spread %35.6822.7859.1959.1926.63
Gamma HHI0.070.060.100.070.06
Net GEX807.7K-2.3M2.5M629.1K373.8K
Net DEX-9.5M-65.0M47.6M27.4M-15.0M
Net VEX-1.4M-1.5M-1.3M-1.4M-1.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.900.159.101.880.15
Total Volume8,204.7732,99229,2634,34029,263
Total OI151,875.636115,535170,627156,209141,153

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-03-02$74.34$85.0068.8%20.7%90.7%22.2%73.0%5.4%0.2%629.1K27.4M-1.4M1.8859.19N/AN/A1,5072,83381,54974,660
2026-03-03$75.92$82.5068.2%20.3%91.0%21.5%72.2%5.8%0.4%871.1K-3.7M-1.4M0.9752.59N/AN/A1,6121,57182,24775,694
2026-03-04$79.90$82.0066.6%19.6%94.0%19.8%69.3%5.7%-1.0%2.0M-65.0M-1.5M1.1545.64N/AN/A3,2663,75283,27875,480
2026-03-05$78.10$82.5067.0%19.2%85.7%20.2%65.7%4.6%-1.2%986.7K-28.6M-1.5M1.2643.02N/AN/A1,3251,66783,66677,303
2026-03-06$75.75$82.5069.6%19.8%84.6%23.2%69.2%2.6%-3.1%1.6M-1.7M-1.4M1.7143.96N/AN/A1,2892,20984,33077,173
2026-03-09$76.25$80.0072.1%20.4%82.5%26.0%74.3%12.4%-2.2%1.1M716.5K-1.4M5.0846.70N/AN/A1,7218,75079,89673,713
2026-03-10$75.05$80.0064.0%19.5%82.1%16.7%67.0%4.3%6.3%822.9K930.4K-1.3M1.7744.20N/AN/A1,7003,01180,41078,179
2026-03-11$74.82$80.0066.6%19.6%81.7%19.7%67.8%3.3%0.8%359.3K17.6M-1.3M1.7745.62N/AN/A2,2323,94881,14579,419
2026-03-12$74.06$80.0068.2%21.6%81.6%21.6%68.8%0.9%-0.2%849.5K11.1M-1.4M1.1533.68N/AN/A2,1182,42682,77981,146
2026-03-13$74.98$80.0067.6%20.5%78.0%20.9%67.0%5.0%0.6%1.8M9.1M-1.3M2.2036.57N/AN/A1,7033,75483,70681,571
2026-03-16$78.27$80.0067.3%18.7%79.7%20.5%66.5%5.8%1.5%1.6M-35.9M-1.4M0.2023.80N/AN/A12,3012,50180,91979,190
2026-03-17$80.12$82.5063.9%18.5%79.2%16.7%64.3%7.1%-1.6%2.5M-58.7M-1.4M0.7022.78N/AN/A4,8333,37284,73580,157
2026-03-18$76.87$82.5067.9%19.3%74.9%21.2%68.7%7.7%-3.6%1.7M-26.7M-1.4M0.8329.36N/AN/A2,9052,40388,46281,532
2026-03-19$76.24$82.5067.3%19.1%55.5%20.5%67.1%5.7%-3.6%1.2M-10.4M-1.4M0.5027.43N/AN/A5,3862,70589,41181,216
2026-03-20$72.07$77.5067.7%19.5%58.1%21.0%67.1%5.0%-1.8%-1.8M35.6M-1.3M2.2631.74N/AN/A2,6205,92589,79780,356
2026-03-23$76.66$77.5067.4%18.9%53.5%20.6%68.9%4.3%8.5%1.4M-44.8M-1.4M0.7824.77N/AN/A3,8362,98958,15357,382
2026-03-24$75.66$77.5069.0%19.1%53.8%22.4%71.9%7.4%7.8%1.2M-29.6M-1.4M9.1025.13N/AN/A8227,47761,02859,047
2026-03-25$78.91$77.5069.3%19.5%55.7%22.8%69.9%6.8%6.9%2.2M-63.3M-1.5M0.8924.81N/AN/A5,3204,72761,43262,890
2026-03-26$74.07$77.5073.9%21.5%56.5%28.1%68.7%3.1%5.7%-13.3K-16.9M-1.5M0.7530.34N/AN/A2,8912,17365,24866,443
2026-03-27$70.73$77.0077.6%22.3%57.0%32.4%77.4%5.2%5.4%-2.3M41.0M-1.4M2.3333.60N/AN/A3,9729,25668,70069,538
2026-03-30$69.59$75.0084.9%24.1%56.8%40.8%85.7%12.3%2.5%-1.3M47.6M-1.4M4.4233.49N/AN/A1,9258,50968,29568,836
2026-03-31$74.94$75.0082.4%23.6%62.6%37.9%77.1%13.7%3.4%373.8K-15.0M-1.5M0.1526.63N/AN/A25,4753,78869,44571,708