WM Options History — October 2007

In October 2007, WM traded between $27.30 and $36.07. ATM implied volatility averaged 40.1%, placing in the 37.3% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 5.0% (HV 20d: 35.1%). Max pain ranged from $32.50 to $37.50. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 2.10.

Notable Days

  • 2007-10-18: Highest Volume — 97,493 contracts
  • 2007-10-19: Largest IV spike — 19.4% change
  • 2007-10-19: Highest IV Rank — 50.2%
  • 2007-10-19: Largest Expected Move — 14.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.36$27.30$36.07$35.69$27.88
Max Pain$34.46$32.50$37.50$37.50$32.50
ATM IV40.1%32.4%49.7%40.1%40.9%
Expected Move11.5%9.3%14.3%11.5%11.7%
HV 20d35.1%26.8%45.7%33.5%44.8%
HV 60d45.8%44.1%49.2%44.5%45.9%
IV Rank37.3%27.0%50.2%37.2%38.4%
IV Percentile79.2%66.8%91.0%81.8%80.4%
Term Structure-1.5%-5.1%2.3%-3.7%0.9%
VWIV40.3%32.8%50.6%39.8%41.6%
Skew 25d6.1%2.8%9.6%7.1%6.4%
Skew 10d10.3%1.2%15.9%15.9%6.8%
Call IV 25d37.9%28.0%47.8%36.6%40.1%
Put IV 25d44.0%35.2%53.9%43.7%46.5%
Bid-Ask Spread %11.245.9620.998.4618.46
Gamma HHI0.260.160.370.250.16
Net GEX-8.7M-12.7M-5.3M-9.0M-5.4M
Net DEX409.2M281.5M675.9M288.5M354.1M
Net VEX-2.2M-2.7M-1.8M-2.7M-2.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.100.535.791.941.10
Total Volume32,784.877,70997,49313,08337,250
Total OI576,677.522459,587659,804582,154525,676

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-10-01$35.69$37.5040.1%11.5%33.5%37.2%39.8%7.1%-3.7%-9.0M288.5M-2.7M1.948.46N/AN/A4,4568,627234,505347,649
2007-10-02$35.93$37.5039.4%11.3%33.3%36.3%38.9%7.0%-3.0%-9.1M286.5M-2.7M5.799.54N/AN/A3,75021,715236,323349,577
2007-10-03$35.89$37.5037.6%10.8%30.8%34.0%37.3%5.5%-1.9%-9.6M315.7M-2.7M1.799.60N/AN/A2,7664,943237,007362,194
2007-10-04$35.28$37.5037.1%10.6%31.3%33.3%36.9%6.2%-1.3%-9.9M365.0M-2.6M3.179.38N/AN/A5,35916,990237,707361,632
2007-10-05$36.07$35.0034.3%9.7%30.6%29.5%33.4%6.3%0.1%-10.1M350.2M-2.6M1.4620.99N/AN/A8,25812,042239,440373,501
2007-10-08$35.81$35.0034.6%9.6%30.6%29.9%33.8%6.0%-0.1%-10.4M314.6M-2.4M1.4711.25N/AN/A3,4495,080240,705356,465
2007-10-09$35.99$35.0034.1%9.4%30.6%29.2%34.2%9.4%2.3%-10.1M281.5M-2.5M0.8210.51N/AN/A7,5466,198241,952357,374
2007-10-10$35.47$35.0033.2%9.3%31.0%28.1%33.6%5.1%0.6%-10.6M325.9M-2.4M3.6712.62N/AN/A4,14315,224244,897360,297
2007-10-11$35.76$35.0033.8%9.7%30.9%28.9%33.9%4.3%-0.8%-10.9M298.2M-2.5M1.4914.28N/AN/A6,78210,137246,668366,401
2007-10-12$35.20$35.0032.4%9.3%31.5%27.0%32.8%3.4%0.2%-11.9M362.1M-2.4M3.6714.17N/AN/A3,75813,788248,388371,571
2007-10-15$34.27$35.0034.7%10.0%32.4%30.1%35.7%5.7%-0.5%-12.7M454.1M-2.4M1.5715.60N/AN/A9,79815,373249,179378,058
2007-10-16$33.20$35.0040.2%11.5%27.9%37.4%41.9%9.6%1.3%-12.0M521.1M-2.3M2.907.51N/AN/A12,04634,913250,371378,780
2007-10-17$33.07$35.0040.9%11.7%26.8%38.4%40.3%5.9%-2.6%-12.4M534.6M-2.2M1.5413.71N/AN/A25,22538,802255,575382,990
2007-10-18$30.52$35.0041.6%11.9%35.3%39.4%42.0%8.4%0.1%-9.8M675.9M-1.9M1.926.96N/AN/A33,35864,135261,231388,938
2007-10-19$29.09$32.5049.7%14.3%37.6%50.2%50.6%6.5%-3.2%-6.0M675.5M-1.8M2.789.31N/AN/A18,26650,771276,168383,636
2007-10-22$29.25$32.5046.2%13.3%37.3%45.5%46.8%4.8%-5.1%-5.6M412.0M-1.9M1.909.37N/AN/A12,76324,270184,973274,614
2007-10-23$28.97$32.5040.0%11.5%37.3%37.2%42.4%5.8%-2.7%-5.8M428.2M-1.8M2.407.42N/AN/A9,89123,780190,181280,946
2007-10-24$29.02$32.5042.3%12.1%37.0%40.2%43.1%3.4%-3.4%-6.5M435.5M-1.9M1.675.96N/AN/A14,70624,613194,261294,149
2007-10-25$27.30$32.5047.8%13.7%40.6%47.7%48.0%4.2%-3.9%-5.7M482.9M-1.8M1.087.53N/AN/A25,42727,487201,166304,563
2007-10-26$28.58$32.5046.4%13.3%45.7%45.7%45.6%2.8%-1.8%-5.8M432.9M-2.0M0.5314.33N/AN/A24,91913,299213,081312,219
2007-10-29$28.02$32.5047.6%13.7%45.1%47.4%48.5%7.1%-3.5%-5.4M424.8M-2.0M0.7711.32N/AN/A9,3117,173223,044313,998
2007-10-30$28.11$32.5047.0%13.5%44.9%46.5%46.1%8.7%-2.8%-5.3M392.7M-2.0M2.8210.26N/AN/A8,23323,232225,890305,643
2007-10-31$27.88$32.5040.9%11.7%44.8%38.4%41.6%6.4%0.9%-5.4M354.1M-2.0M1.1018.46N/AN/A17,70019,550230,465295,211