WM Options History — June 2018

In June 2018, WM traded between $80.35 and $84.31. ATM implied volatility averaged 13.2%, placing in the 18.2% IV rank vs the trailing year. The 30-day expected move averaged 3.8%. IV traded above realized volatility by 1.6% (HV 20d: 11.7%). Max pain ranged from $82.50 to $82.50. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 1.56.

Notable Days

2018-06-25: Highest Volume — 9,646 contracts
2018-06-12: Largest IV drop — 33.0% change
2018-06-28: Highest IV Rank — 26.4%
2018-06-28: Largest Expected Move — 4.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$82.71	$80.35	$84.31	$83.58	$81.50
Max Pain	$82.50	$82.50	$82.50	$82.50	$82.50
ATM IV	13.2%	10.1%	15.5%	13.5%	13.5%
Expected Move	3.8%	3.3%	4.5%	3.9%	3.9%
HV 20d	11.7%	10.6%	12.9%	12.4%	12.1%
HV 60d	14.1%	13.5%	14.9%	14.9%	13.5%
IV Rank	18.2%	6.8%	26.4%	19.0%	19.2%
IV Percentile	48.3%	5.6%	69.4%	53.6%	52.0%
Term Structure	1.2%	-0.5%	2.0%	-0.5%	1.6%
VWIV	13.4%	10.9%	16.1%	14.3%	15.6%
Skew 25d	1.9%	1.3%	2.6%	2.6%	2.0%
Skew 10d	3.7%	-0.0%	6.1%	6.1%	4.3%
Call IV 25d	12.3%	10.8%	14.3%	11.7%	13.4%
Put IV 25d	14.2%	12.8%	16.5%	14.4%	15.4%
Bid-Ask Spread %	10.46	5.68	15.60	7.71	9.13
Gamma HHI	0.28	0.20	0.42	0.26	0.27
Net GEX	585.1K	-7.0M	5.1M	3.8M	-994.3K
Net DEX	-71.2M	-118.1M	-7.2M	-104.9M	-33.6M
Net VEX	-772.3K	-805.5K	-742.8K	-805.5K	-782.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.56	0.22	4.37	2.39	1.85
Total Volume	3,770.905	1,557	9,646	2,105	1,557
Total OI	62,769.524	58,099	67,103	63,313	64,310

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-06-01	$83.58	$82.50	13.5%	3.9%	12.4%	19.0%	14.3%	2.6%	-0.5%	3.8M	-104.9M	-805.5K	2.39	7.71	N/A	N/A	621	1,484	37,147	26,166
2018-06-04	$83.83	$82.50	12.6%	3.5%	11.1%	16.0%	12.7%	2.1%	1.4%	4.0M	-114.5M	-784.8K	0.71	13.23	N/A	N/A	2,967	2,120	37,146	26,275
2018-06-05	$83.44	$82.50	13.4%	3.7%	10.7%	18.7%	12.4%	1.6%	1.5%	2.6M	-105.1M	-795.5K	0.61	10.68	N/A	N/A	2,422	1,480	38,243	26,750
2018-06-06	$83.71	$82.50	13.1%	3.6%	10.7%	17.5%	16.1%	1.8%	1.5%	3.4M	-118.1M	-778.2K	0.22	10.18	N/A	N/A	7,483	1,669	38,697	26,779
2018-06-07	$83.31	$82.50	12.8%	3.7%	10.8%	16.5%	12.4%	1.7%	1.2%	-155.3K	-83.0M	-781.4K	2.13	8.13	N/A	N/A	962	2,045	34,267	26,948
2018-06-08	$83.46	$82.50	12.9%	3.7%	10.8%	17.1%	13.6%	1.9%	0.9%	-819.5K	-86.8M	-769.0K	3.38	13.52	N/A	N/A	1,155	3,902	34,392	28,026
2018-06-11	$83.70	$82.50	15.0%	3.7%	10.7%	24.5%	12.2%	1.7%	1.1%	-401.6K	-94.9M	-778.3K	0.55	10.78	N/A	N/A	1,283	707	34,825	31,042
2018-06-12	$83.95	$82.50	10.1%	3.3%	10.6%	6.8%	12.3%	1.4%	1.6%	2.2M	-101.9M	-770.3K	0.34	10.53	N/A	N/A	2,296	778	35,129	31,057
2018-06-13	$83.19	$82.50	12.3%	3.5%	10.7%	14.6%	11.7%	1.8%	1.5%	-7.0M	-86.6M	-762.4K	0.79	15.60	N/A	N/A	962	763	36,032	31,071
2018-06-14	$83.60	$82.50	12.3%	3.5%	10.7%	15.0%	12.0%	1.9%	1.5%	-2.5M	-89.8M	-753.9K	1.19	12.55	N/A	N/A	859	1,018	34,849	31,150
2018-06-15	$84.31	$82.50	11.6%	3.3%	10.9%	12.2%	12.5%	2.1%	2.0%	5.1M	-112.0M	-742.8K	3.47	12.66	N/A	N/A	1,124	3,902	35,034	31,212
2018-06-18	$83.18	$82.50	13.1%	3.8%	12.2%	17.7%	13.0%	1.5%	1.7%	1.9M	-72.4M	-768.6K	0.96	9.00	N/A	N/A	1,151	1,110	31,771	26,328
2018-06-19	$82.53	$82.50	13.6%	3.9%	12.3%	19.4%	13.2%	1.9%	1.2%	1.0M	-57.7M	-777.4K	1.36	5.68	N/A	N/A	809	1,103	32,262	26,886
2018-06-20	$81.90	$82.50	12.8%	3.7%	12.6%	16.6%	10.9%	1.5%	1.6%	57.0K	-44.9M	-769.2K	0.89	8.35	N/A	N/A	1,314	1,169	32,500	27,219
2018-06-21	$81.15	$82.50	14.2%	4.1%	12.2%	21.5%	13.3%	1.3%	1.3%	-581.1K	-26.3M	-775.4K	2.78	9.61	N/A	N/A	1,602	4,456	33,203	27,579
2018-06-22	$81.99	$82.50	13.0%	3.7%	12.9%	17.4%	13.0%	2.0%	0.6%	2.1M	-52.5M	-748.2K	1.14	8.73	N/A	N/A	1,667	1,898	32,687	25,506
2018-06-25	$81.75	$82.50	14.5%	4.2%	12.9%	22.7%	15.7%	2.4%	0.7%	1.5M	-45.7M	-762.0K	1.36	9.88	N/A	N/A	4,090	5,556	33,099	26,629
2018-06-26	$81.68	$82.50	13.5%	3.9%	12.8%	19.2%	13.4%	1.6%	1.2%	310.4K	-39.7M	-766.8K	0.68	10.07	N/A	N/A	1,785	1,220	32,685	28,132
2018-06-27	$80.35	$82.50	14.9%	4.3%	12.5%	24.0%	15.6%	1.9%	1.2%	-1.5M	-7.2M	-758.5K	4.37	11.82	N/A	N/A	767	3,349	32,893	28,526
2018-06-28	$80.86	$82.50	15.5%	4.5%	12.3%	26.4%	15.5%	2.1%	0.7%	-1.8M	-17.2M	-787.5K	1.63	11.78	N/A	N/A	983	1,601	33,024	30,684
2018-06-29	$81.50	$82.50	13.5%	3.9%	12.1%	19.2%	15.6%	2.0%	1.6%	-994.3K	-33.6M	-782.5K	1.85	9.13	N/A	N/A	546	1,011	33,343	30,967