WM Options History — July 2014

In July 2014, WM traded between $43.89 and $45.59. ATM implied volatility averaged 13.0%, placing in the 48.0% IV rank vs the trailing year. The 30-day expected move averaged 4.5%. IV traded above realized volatility by 3.8% (HV 20d: 9.2%). Max pain ranged from $42.00 to $42.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.74.

Notable Days

  • 2014-07-29: Highest Volume — 7,655 contracts
  • 2014-07-29: Largest IV drop — 30.4% change
  • 2014-07-28: Highest IV Rank — 67.6%
  • 2014-07-07: Largest Expected Move — 4.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.52$43.89$45.59$44.83$44.89
Max Pain$42.00$42.00$42.00$42.00$42.00
ATM IV13.0%10.5%15.9%10.5%12.6%
Expected Move4.5%4.3%4.6%4.5%4.5%
HV 20d9.2%7.0%16.5%8.1%16.5%
HV 60d10.3%8.7%11.7%11.1%11.7%
IV Rank48.0%31.5%67.6%31.5%45.2%
IV Percentile37.0%1.6%82.5%1.6%28.6%
Term Structure-0.2%-2.0%2.4%2.4%-0.0%
VWIV16.4%14.5%19.9%16.1%17.0%
Skew 25d2.4%1.2%4.0%1.2%1.6%
Skew 10d5.5%-0.0%10.1%4.1%1.0%
Call IV 25d12.4%9.1%14.8%11.0%11.5%
Put IV 25d14.8%11.8%17.5%12.2%13.0%
Bid-Ask Spread %28.1622.9033.2830.6327.65
Gamma HHI0.460.330.670.450.33
Net GEX8.4M3.8M14.1M12.7M6.3M
Net DEX-81.4M-128.8M-30.8M-128.8M-61.5M
Net VEX-458.3K-501.6K-428.1K-464.0K-456.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.740.015.220.255.22
Total Volume2,298.8181997,6554,3411,548
Total OI74,025.22751,02488,89085,07660,596

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-07-01$44.83$42.0010.5%4.5%8.1%31.5%16.1%1.2%2.4%12.7M-128.8M-464.0K0.2530.63N/AN/A3,48385857,60027,476
2014-07-02$44.47$42.0010.8%4.5%7.7%33.4%17.6%2.0%2.1%11.4M-115.1M-501.6K0.4332.41N/AN/A58124859,66628,171
2014-07-03$44.71$42.0010.9%4.6%7.9%33.8%0.0%2.4%1.9%12.0M-121.3M-493.5K0.0832.59N/AN/A1841559,47228,226
2014-07-07$44.54$42.0011.9%4.6%8.0%40.9%16.0%2.7%-0.5%11.4M-115.9M-486.1K0.0729.73N/AN/A9476959,44528,241
2014-07-08$44.60$42.0011.7%4.6%7.7%39.4%17.2%3.1%-0.5%12.2M-120.4M-488.0K0.1429.76N/AN/A1,00014160,05228,295
2014-07-09$44.24$42.0011.6%4.5%8.2%38.7%16.4%2.7%-0.5%9.8M-104.9M-483.0K0.0133.28N/AN/A6,1006560,55628,334
2014-07-10$44.18$42.0014.0%4.6%7.3%55.0%0.0%3.1%-0.8%9.7M-93.4M-474.7K0.0527.93N/AN/A1,7958858,76228,369
2014-07-11$44.34$42.0014.0%4.5%7.2%55.2%17.4%2.8%-0.5%10.3M-94.3M-467.6K0.0428.15N/AN/A1,5906958,18628,428
2014-07-14$44.40$42.0014.3%4.5%7.2%56.9%19.9%2.4%-1.3%11.7M-101.0M-451.7K1.0528.82N/AN/A2,3252,44157,81728,490
2014-07-15$44.51$42.0013.4%4.5%7.2%51.1%15.2%2.4%-0.7%12.5M-99.2M-450.0K0.0624.16N/AN/A2,46714257,16629,108
2014-07-16$44.65$42.0013.2%4.5%7.0%49.7%16.9%2.3%-0.4%14.1M-97.0M-456.0K0.1324.80N/AN/A5346955,99829,242
2014-07-17$44.07$42.0014.7%4.5%8.5%59.6%15.5%1.6%-1.0%7.2M-70.5M-434.2K0.0826.25N/AN/A1,51711454,38428,952
2014-07-18$44.44$42.0013.9%4.4%9.0%54.1%15.9%2.3%-0.6%5.8M-78.1M-437.2K0.0828.33N/AN/A1,0868854,15028,990
2014-07-21$44.48$42.0014.5%4.4%8.7%58.4%17.6%4.0%-1.0%4.0M-42.1M-432.4K0.1127.09N/AN/A2,32526230,77520,249
2014-07-22$44.51$42.0012.6%4.4%8.5%45.7%0.0%2.4%0.4%4.3M-43.1M-428.1K0.0926.54N/AN/A2,76124631,53220,467
2014-07-23$44.28$42.0013.5%4.3%8.7%51.6%16.7%1.6%0.2%4.6M-45.4M-444.7K0.3328.63N/AN/A42614034,18720,693
2014-07-24$44.31$42.0013.6%4.4%8.7%52.1%14.5%2.1%-0.3%4.7M-44.0M-445.5K0.8226.01N/AN/A52142834,53420,813
2014-07-25$44.10$42.0014.4%4.3%8.8%57.8%14.9%1.7%-1.0%4.4M-40.1M-442.6K3.9322.90N/AN/A23190834,68221,081
2014-07-28$43.89$42.0015.9%4.4%8.2%67.6%15.1%2.7%-2.0%3.8M-30.8M-439.3K1.2025.37N/AN/A1,8182,18934,84621,425
2014-07-29$45.59$42.0011.1%4.4%16.1%35.0%16.1%4.0%-0.4%5.4M-72.8M-446.7K1.0527.46N/AN/A3,7383,91735,40223,331
2014-07-30$45.40$42.0012.2%4.4%16.2%42.6%16.4%2.5%-0.0%6.8M-71.6M-459.5K1.0531.07N/AN/A53656437,71522,651
2014-07-31$44.89$42.0012.6%4.5%16.5%45.2%17.0%1.6%-0.0%6.3M-61.5M-456.2K5.2227.65N/AN/A2491,29937,99622,600