WM Options History — June 2008

In June 2008, WM traded between $4.80 and $9.00. ATM implied volatility averaged 119.2%, placing in the 53.4% IV rank vs the trailing year. The 30-day expected move averaged 33.6%. IV traded above realized volatility by 32.6% (HV 20d: 86.6%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 1.35.

Notable Days

  • 2008-06-11: Highest Volume — 183,010 contracts
  • 2008-06-06: Largest IV spike — 97.7% change
  • 2008-06-09: Highest IV Rank — 86.6%
  • 2008-06-09: Largest Expected Move — 45.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.61$4.80$9.00$9.00$4.93
Max Pain$11.40$10.00$12.50$10.00$10.00
ATM IV119.2%61.9%180.3%65.0%130.9%
Expected Move33.6%17.7%45.3%18.6%37.5%
HV 20d86.6%37.8%105.8%49.8%105.8%
HV 60d106.2%97.4%116.0%115.3%97.4%
IV Rank53.4%23.1%86.6%25.4%59.2%
IV Percentile84.0%49.6%99.6%53.6%90.5%
Term Structure-11.9%-32.8%9.8%9.3%-3.1%
VWIV116.1%64.5%152.8%67.7%129.8%
Skew 25d32.1%2.3%49.3%2.7%40.6%
Skew 10d69.3%7.0%104.1%7.4%59.6%
Call IV 25d105.0%63.3%131.4%67.7%125.7%
Put IV 25d137.0%70.4%176.4%70.4%166.3%
Bid-Ask Spread %4.192.0713.072.962.49
Gamma HHI0.170.140.300.160.25
Net GEX-1.1M-1.6M-781.5K-1.5M-781.5K
Net DEX163.7M146.8M183.8M146.8M158.9M
Net VEX-959.5K-1.4M-506.8K-1.4M-654.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.350.274.142.530.35
Total Volume54,360.5719,788183,01034,96963,866
Total OI1,163,892.4761,081,8971,255,1981,081,8971,168,843

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-06-02$9.00$10.0065.0%18.6%49.8%25.4%67.7%2.7%9.3%-1.5M146.8M-1.4M2.532.96N/AN/A9,90225,067533,720548,177
2008-06-03$8.75$10.0064.7%18.5%43.4%25.2%68.0%2.3%9.8%-1.5M156.3M-1.3M0.843.39N/AN/A11,5659,735536,893549,243
2008-06-04$8.68$10.0064.4%18.5%41.2%24.6%67.3%3.6%8.5%-1.6M156.2M-1.3M1.023.78N/AN/A10,56310,798542,137552,544
2008-06-05$8.61$10.0061.9%17.7%37.8%23.1%64.5%8.0%8.9%-1.6M160.2M-1.3M0.273.07N/AN/A7,6792,109544,659554,616
2008-06-06$7.53$12.50122.4%31.7%57.0%55.6%109.9%37.0%-15.1%-1.2M181.4M-1.1M2.2913.07N/AN/A50,043114,686548,063554,777
2008-06-09$6.25$12.50180.3%45.3%82.9%86.6%142.3%45.0%-32.1%-949.3K180.5M-1.0M1.094.54N/AN/A69,45075,848563,560606,460
2008-06-10$6.68$12.50140.5%41.3%88.9%65.0%131.9%39.9%-32.6%-910.5K157.5M-1.1M0.954.09N/AN/A38,25336,454567,797592,590
2008-06-11$6.06$12.50165.9%43.4%92.8%78.7%152.8%46.1%-29.2%-916.1K175.9M-932.1K4.143.76N/AN/A35,623147,387569,216604,639
2008-06-12$6.64$12.50149.0%42.7%101.5%69.5%139.6%46.8%-32.8%-865.5K150.1M-1.1M1.374.69N/AN/A18,78825,724580,982666,932
2008-06-13$6.67$12.50134.9%38.7%98.2%61.9%130.0%40.2%-29.7%-1.0M166.4M-980.1K0.656.03N/AN/A13,5138,777580,473651,444
2008-06-16$6.75$12.50135.4%38.8%99.0%62.1%126.8%40.2%-32.1%-1.0M162.4M-1.0M0.703.73N/AN/A10,4697,346581,471652,256
2008-06-17$6.22$12.50133.8%38.3%101.1%60.8%127.0%35.5%-21.9%-1.0M183.8M-873.3K1.114.52N/AN/A13,53014,970582,274651,454
2008-06-18$6.26$12.50137.6%39.5%101.6%62.9%139.7%39.3%-23.9%-1.1M172.7M-903.2K3.825.10N/AN/A13,31750,904585,717652,997
2008-06-19$6.35$11.00125.4%36.0%102.1%56.2%139.1%36.3%-13.3%-937.1K163.6M-906.3K2.934.72N/AN/A8,33724,426589,336659,320
2008-06-20$6.38$11.00122.4%35.1%102.1%54.6%121.7%28.4%-11.4%-1.0M163.3M-916.2K0.443.99N/AN/A28,67212,580591,304663,894
2008-06-23$5.96$11.00109.9%31.5%103.5%47.7%110.6%22.9%-2.6%-1.0M163.5M-853.8K0.513.22N/AN/A11,2325,713517,806597,857
2008-06-24$5.80$11.00109.3%31.3%101.2%47.4%111.9%24.3%-2.7%-958.8K156.8M-745.6K0.392.55N/AN/A21,4758,284518,412598,698
2008-06-25$5.54$11.00103.7%29.7%101.3%44.3%113.8%40.6%3.0%-909.3K160.3M-694.6K0.783.28N/AN/A19,34615,162525,061598,524
2008-06-26$5.04$11.00129.8%37.2%104.1%58.6%127.3%44.0%-5.7%-785.4K154.9M-645.4K1.002.91N/AN/A23,03323,030527,890600,908
2008-06-27$4.80$11.00116.9%33.5%104.2%51.5%117.3%49.3%-0.2%-810.0K166.5M-506.8K1.142.07N/AN/A20,56623,350527,890600,908
2008-06-30$4.93$10.00130.9%37.5%105.8%59.2%129.8%40.6%-3.1%-781.5K158.9M-654.7K0.352.49N/AN/A47,24416,622546,917621,926