WM Options History — August 2011

In August 2011, WM traded between $28.17 and $33.90. ATM implied volatility averaged 46.4%, placing in the 77.7% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded below realized volatility by 3.7% (HV 20d: 50.1%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 6 of 23 trading days. Term structure was in contango for 1 of 23 days. Put/call ratio averaged 1.27.

Notable Days

  • 2011-08-31: Highest Volume — 63,467 contracts
  • 2011-08-08: Largest IV spike — 44.2% change
  • 2011-08-05: Highest IV Rank — 100.0%
  • 2011-08-19: Largest Expected Move — 16.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.03$28.17$33.90$31.48$33.04
Max Pain$31.26$30.00$35.00$35.00$30.00
ATM IV46.4%35.7%62.0%38.1%41.8%
Expected Move12.9%10.2%16.4%10.9%12.0%
HV 20d50.1%33.0%64.1%33.0%57.5%
HV 60d32.0%22.0%39.5%22.0%39.5%
IV Rank77.7%56.6%100.0%87.4%61.8%
IV Percentile98.0%94.0%100.0%99.6%94.0%
Term Structure-4.5%-9.2%1.4%-2.2%-2.7%
VWIV48.6%36.0%80.9%37.8%80.9%
Skew 25d10.7%3.9%16.6%6.8%14.0%
Skew 10d22.5%2.5%45.7%14.0%32.8%
Call IV 25d41.2%34.6%51.9%35.4%37.6%
Put IV 25d52.0%38.5%64.0%42.2%51.6%
Bid-Ask Spread %21.5514.8926.9517.3826.95
Gamma HHI0.200.120.370.170.14
Net GEX-2.0M-4.4M1.3M-3.7M529.6K
Net DEX136.7M-77.4M262.8M184.0M-24.3M
Net VEX-1.2M-1.5M-916.5K-1.0M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.270.023.450.720.02
Total Volume16,392.5225,05563,46722,52863,467
Total OI304,101.391245,364346,671245,364330,837

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-08-01$31.48$35.0038.1%10.9%33.0%87.4%37.8%6.8%-2.2%-3.7M184.0M-1.0M0.7217.38N/AN/A13,0879,441118,504126,860
2011-08-02$30.66$34.0035.7%10.2%33.3%80.3%36.0%3.9%-3.2%-3.7M214.0M-921.6K1.2921.90N/AN/A5,7437,433124,829130,670
2011-08-03$30.86$34.0036.5%10.5%33.5%82.4%38.8%4.6%-0.9%-3.6M201.3M-996.1K0.7123.88N/AN/A22,33515,910127,917134,708
2011-08-04$30.07$34.0041.7%12.0%33.3%98.3%42.8%4.7%-1.9%-3.4M219.6M-1.1M1.4526.14N/AN/A2,4503,548139,516145,688
2011-08-05$30.37$33.0043.0%11.3%34.2%100.0%38.4%9.0%-1.1%-3.4M207.9M-1.1M1.3218.68N/AN/A3,0884,066139,862147,321
2011-08-08$28.17$33.0062.0%14.5%41.1%100.0%49.2%11.4%-6.8%-2.7M262.8M-916.5K2.3019.76N/AN/A3,4397,923141,035148,819
2011-08-09$29.40$33.0050.7%13.0%45.7%78.7%47.3%11.3%-5.0%-3.4M249.2M-1.0M0.5721.27N/AN/A10,7266,152142,015152,252
2011-08-10$28.70$31.0060.1%14.4%45.9%96.3%48.0%11.8%-6.3%-2.5M241.2M-1.0M0.2021.86N/AN/A10,2642,063149,764154,639
2011-08-11$30.73$31.0051.0%14.6%54.0%79.2%52.8%10.7%-9.1%-2.2M161.3M-1.3M0.6821.91N/AN/A16,73111,396153,559155,657
2011-08-12$30.79$30.0044.9%12.9%54.0%67.6%51.9%8.7%-4.7%-2.2M160.8M-1.3M1.5825.25N/AN/A2,4553,870165,501164,002
2011-08-15$30.97$30.0040.5%11.6%54.2%59.4%42.9%8.6%-3.4%-2.8M164.7M-1.3M3.4520.74N/AN/A1,2254,222166,018166,699
2011-08-16$30.60$30.0039.8%11.4%53.8%58.1%42.7%8.5%-1.8%-3.3M193.3M-1.2M1.9417.41N/AN/A1,7223,333166,370168,800
2011-08-17$31.20$30.0039.0%11.2%54.6%56.6%40.5%8.4%-2.3%-2.9M163.4M-1.2M1.8317.56N/AN/A2,6614,868167,544171,352
2011-08-18$29.72$30.0048.2%13.8%56.0%73.8%50.5%12.6%-6.2%-4.4M245.6M-1.1M3.2618.54N/AN/A1,8926,169167,792174,080
2011-08-19$29.40$30.0057.1%16.4%56.0%90.8%55.5%12.1%-8.7%-2.4M260.7M-1.1M1.4814.89N/AN/A6,5139,607168,599178,072
2011-08-22$30.12$31.0051.1%14.7%57.2%79.5%51.5%13.1%-7.5%-2.2M138.8M-1.2M0.4417.60N/AN/A7,2263,170138,126141,247
2011-08-23$32.13$30.0053.0%15.2%62.9%83.0%57.1%14.4%-9.2%-735.4K39.1M-1.3M0.4124.77N/AN/A17,6177,304142,780142,574
2011-08-24$33.11$30.0049.9%14.3%64.1%77.1%53.4%15.4%-8.5%525.5K-30.1M-1.4M0.4022.41N/AN/A8,9433,577152,331144,307
2011-08-25$32.48$30.0050.8%14.6%57.2%78.8%51.4%14.4%-7.6%292.2K2.8M-1.4M1.4724.26N/AN/A3,1864,680156,172145,176
2011-08-26$32.34$30.0046.9%13.5%55.6%71.5%49.4%12.6%-3.3%55.8K16.9M-1.4M1.9025.85N/AN/A2,8495,416156,805148,122
2011-08-29$33.90$30.0041.7%12.0%57.9%61.7%49.4%16.6%1.4%1.3M-77.4M-1.5M1.2220.93N/AN/A18,10422,021157,687150,358
2011-08-30$33.47$30.0043.0%12.3%57.2%64.1%49.2%13.1%-2.9%766.1K-51.0M-1.5M0.4925.63N/AN/A3,4491,687166,020163,346
2011-08-31$33.04$30.0041.8%12.0%57.5%61.8%80.9%14.0%-2.7%529.6K-24.3M-1.4M0.0226.95N/AN/A62,0121,455167,246163,591