WM Options History — October 2018

In October 2018, WM traded between $84.78 and $91.22. ATM implied volatility averaged 17.7%, placing in the 30.0% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 4.0% (HV 20d: 13.7%). Max pain ranged from $85.00 to $92.50. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 3 of 23 days. Put/call ratio averaged 1.16.

Notable Days

2018-10-26: Highest Volume — 8,402 contracts
2018-10-10: Largest IV spike — 22.5% change
2018-10-24: Highest IV Rank — 52.9%
2018-10-24: Largest Expected Move — 6.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$89.04	$84.78	$91.22	$90.11	$89.68
Max Pain	$89.35	$85.00	$92.50	$90.00	$85.00
ATM IV	17.7%	11.1%	23.8%	11.1%	18.1%
Expected Move	5.2%	3.2%	6.8%	3.2%	5.2%
HV 20d	13.7%	9.0%	23.0%	9.2%	23.0%
HV 60d	15.5%	9.7%	19.0%	18.4%	14.4%
IV Rank	30.0%	7.7%	52.9%	7.7%	31.1%
IV Percentile	72.2%	13.1%	96.4%	13.1%	78.6%
Term Structure	-2.0%	-4.3%	3.2%	3.0%	-1.1%
VWIV	18.4%	11.0%	24.1%	11.0%	20.7%
Skew 25d	2.6%	0.9%	4.8%	0.9%	3.4%
Skew 10d	5.4%	-1.6%	10.5%	1.9%	10.5%
Call IV 25d	17.0%	10.8%	22.4%	10.8%	17.1%
Put IV 25d	19.5%	11.7%	25.7%	11.7%	20.5%
Bid-Ask Spread %	15.05	7.47	23.20	7.47	15.07
Gamma HHI	0.23	0.15	0.38	0.24	0.20
Net GEX	2.5M	-886.8K	7.2M	4.0M	3.1M
Net DEX	-77.7M	-120.2M	-14.3M	-95.2M	-92.5M
Net VEX	-575.7K	-632.9K	-530.2K	-537.1K	-602.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.16	0.47	2.70	0.92	2.70
Total Volume	3,290.043	1,860	8,402	1,910	4,975
Total OI	50,533.13	38,727	56,185	49,587	47,958

Daily Data (23 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
2018-10-01	$90.11	$90.00	11.1%	3.2%	9.2%	7.7%	11.0%	0.9%	3.0%	4.0M	-95.2M	-537.1K	0.92	7.47	N/A	N/A	995	915	25,180	24,407
2018-10-02	$89.97	$90.00	11.3%	3.2%	9.1%	8.1%	12.1%	1.7%	3.2%	3.6M	-88.4M	-559.6K	0.95	7.77	N/A	N/A	952	908	25,222	24,537
2018-10-03	$89.49	$90.00	11.9%	3.4%	9.0%	10.5%	12.8%	1.3%	2.8%	2.8M	-79.2M	-557.8K	0.54	10.96	N/A	N/A	1,769	953	25,248	24,589
2018-10-04	$88.82	$92.50	14.0%	4.5%	9.1%	15.6%	16.3%	2.6%	-1.7%	381.3K	-62.1M	-597.0K	0.56	9.06	N/A	N/A	3,503	1,973	25,626	26,118
2018-10-05	$89.82	$90.00	13.5%	4.5%	10.2%	13.6%	15.3%	1.8%	-1.7%	2.2M	-88.2M	-588.2K	0.47	16.71	N/A	N/A	2,054	968	26,760	27,047
2018-10-08	$90.99	$90.00	14.9%	4.7%	11.3%	18.9%	16.3%	1.8%	-2.3%	4.1M	-114.5M	-553.0K	0.51	13.72	N/A	N/A	1,818	934	27,232	27,104
2018-10-09	$91.22	$90.00	14.8%	4.8%	11.2%	18.8%	16.3%	2.2%	-2.4%	4.6M	-120.2M	-541.5K	0.70	9.87	N/A	N/A	1,456	1,017	27,359	27,225
2018-10-10	$90.53	$90.00	18.2%	5.2%	11.3%	31.4%	17.8%	2.1%	-3.0%	3.5M	-104.3M	-590.6K	1.00	18.41	N/A	N/A	1,208	1,210	27,639	27,387
2018-10-11	$88.76	$90.00	19.6%	5.6%	13.1%	36.8%	19.5%	2.6%	-3.6%	754.4K	-64.1M	-615.9K	0.95	23.20	N/A	N/A	1,168	1,113	27,764	27,596
2018-10-12	$88.41	$90.00	20.0%	5.7%	13.1%	38.5%	19.6%	2.8%	-3.3%	-212.0K	-57.0M	-603.3K	1.09	20.06	N/A	N/A	1,117	1,217	27,857	27,787
2018-10-15	$88.79	$90.00	19.1%	5.5%	13.3%	34.9%	19.1%	2.6%	-3.0%	379.5K	-66.0M	-579.8K	0.99	13.20	N/A	N/A	1,005	990	27,992	28,091
2018-10-16	$90.06	$90.00	17.9%	5.1%	14.2%	30.4%	18.1%	2.7%	-2.9%	3.9M	-98.5M	-541.6K	0.94	18.36	N/A	N/A	966	904	28,042	27,868
2018-10-17	$89.99	$90.00	17.7%	5.1%	13.2%	29.5%	17.9%	2.3%	-2.8%	4.7M	-97.1M	-557.2K	0.96	16.60	N/A	N/A	965	924	28,043	27,950
2018-10-18	$90.09	$90.00	18.6%	5.3%	13.0%	32.9%	18.6%	2.6%	-2.9%	5.9M	-102.6M	-535.2K	1.42	13.81	N/A	N/A	934	1,322	28,172	27,919
2018-10-19	$90.50	$90.00	18.1%	5.2%	13.1%	31.1%	19.3%	2.1%	-2.8%	7.2M	-114.2M	-542.2K	1.32	13.58	N/A	N/A	1,287	1,695	28,133	28,052
2018-10-22	$90.09	$90.00	18.9%	5.4%	12.5%	34.4%	18.5%	2.6%	-2.6%	2.2M	-82.3M	-530.2K	0.68	17.96	N/A	N/A	1,515	1,023	20,792	17,935
2018-10-23	$88.56	$90.00	22.0%	6.3%	13.8%	46.1%	23.1%	2.8%	-4.3%	1.8M	-67.1M	-548.5K	2.04	14.65	N/A	N/A	943	1,920	21,394	18,290
2018-10-24	$87.84	$90.00	23.8%	6.8%	14.1%	52.9%	24.1%	3.3%	-3.9%	1.1M	-53.8M	-591.3K	1.49	15.82	N/A	N/A	2,061	3,079	21,531	19,203
2018-10-25	$84.88	$90.00	20.4%	5.8%	18.3%	39.9%	20.7%	3.0%	-2.3%	-886.8K	-14.3M	-598.5K	1.00	14.98	N/A	N/A	2,520	2,514	22,351	21,352
2018-10-26	$84.78	$87.50	21.5%	6.2%	18.0%	44.1%	22.2%	3.4%	-2.5%	-669.6K	-16.0M	-617.7K	2.36	19.71	N/A	N/A	2,501	5,901	23,516	22,330
2018-10-29	$85.78	$85.00	21.5%	6.2%	18.8%	44.3%	23.2%	4.8%	-2.8%	278.6K	-33.2M	-632.9K	1.85	22.22	N/A	N/A	1,743	3,217	24,944	23,003
2018-10-30	$88.71	$85.00	19.9%	5.7%	22.8%	38.0%	21.4%	3.9%	-2.3%	2.3M	-75.5M	-620.5K	1.18	13.01	N/A	N/A	1,611	1,908	25,101	22,616
2018-10-31	$89.68	$85.00	18.1%	5.2%	23.0%	31.1%	20.7%	3.4%	-1.1%	3.1M	-92.5M	-602.5K	2.70	15.07	N/A	N/A	1,346	3,629	25,339	22,619