WM Options History — January 2019

In January 2019, WM traded between $88.19 and $95.94. ATM implied volatility averaged 17.1%, placing in the 27.6% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded below realized volatility by 4.7% (HV 20d: 21.9%). Max pain ranged from $85.00 to $95.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 2.08.

Notable Days

  • 2019-01-08: Highest Volume — 4,621 contracts
  • 2019-01-22: Largest IV spike — 15.3% change
  • 2019-01-03: Highest IV Rank — 40.8%
  • 2019-01-02: Largest Expected Move — 5.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$93.08$88.19$95.94$88.19$95.94
Max Pain$90.60$85.00$95.00$85.00$95.00
ATM IV17.1%14.6%20.6%20.5%18.7%
Expected Move4.9%4.2%5.9%5.9%4.6%
HV 20d21.9%12.6%26.3%24.0%12.6%
HV 60d19.9%17.4%21.0%20.6%17.4%
IV Rank27.6%17.9%40.8%40.3%33.5%
IV Percentile60.4%38.5%86.9%86.9%75.0%
Term Structure-1.0%-2.7%0.1%-0.0%-0.3%
VWIV17.1%15.0%20.8%20.8%16.3%
Skew 25d3.0%2.4%4.0%3.6%3.3%
Skew 10d7.8%3.6%11.9%7.9%8.8%
Call IV 25d15.6%13.7%18.7%18.7%14.5%
Put IV 25d18.6%16.0%22.3%22.3%17.8%
Bid-Ask Spread %26.089.7258.489.7211.34
Gamma HHI0.280.170.500.200.19
Net GEX5.1M1.8M10.2M1.8M2.9M
Net DEX-74.1M-120.1M-31.7M-31.7M-64.8M
Net VEX-472.0K-585.5K-414.2K-434.9K-585.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.080.485.201.080.87
Total Volume2,132.3335114,6217672,301
Total OI38,836.14325,13747,53341,13333,760

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-01-02$88.19$85.0020.5%5.9%24.0%40.3%20.8%3.6%-0.0%1.8M-31.7M-434.9K1.089.72N/AN/A36939821,38319,750
2019-01-03$88.74$87.5020.6%5.8%24.2%40.8%19.8%4.0%-2.1%2.3M-36.8M-423.2K0.7546.46N/AN/A76257321,48819,747
2019-01-04$90.76$87.5018.1%5.3%25.7%31.4%17.7%3.5%-1.0%4.6M-64.4M-432.7K0.4845.06N/AN/A1,05550521,79320,036
2019-01-07$91.26$87.5016.8%4.8%25.8%26.4%17.2%2.8%-0.2%5.9M-75.6M-422.2K4.2149.79N/AN/A9841322,23220,148
2019-01-08$92.26$87.5016.1%4.8%26.0%23.6%16.9%3.8%-0.3%7.0M-89.4M-414.2K3.0453.69N/AN/A1,1453,47622,34620,441
2019-01-09$91.90$90.0016.3%4.7%25.9%24.4%16.7%3.3%-0.1%6.9M-82.6M-456.2K5.2053.94N/AN/A3601,87322,77221,990
2019-01-10$93.16$90.0016.5%4.7%26.3%25.3%15.4%3.7%0.1%7.8M-99.6M-463.6K1.6153.19N/AN/A8851,42422,79322,194
2019-01-11$93.40$90.0015.8%4.5%26.2%22.6%15.5%2.5%0.1%8.9M-108.3M-437.5K2.8858.48N/AN/A4741,36323,25221,762
2019-01-14$93.09$90.0017.2%4.9%26.2%27.9%17.7%3.0%-0.9%9.0M-104.9M-417.0K2.2013.17N/AN/A6271,38123,36021,962
2019-01-15$93.78$90.0015.6%4.5%26.2%21.9%16.0%2.8%-0.6%9.1M-111.8M-445.3K1.6512.68N/AN/A7691,26623,50422,805
2019-01-16$92.69$90.0016.5%4.7%24.9%25.0%17.0%2.4%-0.7%10.2M-96.1M-457.8K3.1911.63N/AN/A4621,47523,93623,064
2019-01-17$93.13$92.5016.1%4.6%24.9%23.8%16.4%2.5%-0.8%9.8M-104.5M-445.7K1.5914.50N/AN/A42267223,96923,324
2019-01-18$94.26$92.5014.6%4.2%24.2%17.9%15.0%2.4%-0.7%2.3M-120.1M-428.8K0.919.80N/AN/A1,8751,70623,98523,548
2019-01-22$94.34$92.5016.8%4.8%24.2%26.4%17.3%3.2%-1.7%2.4M-54.3M-443.0K2.2321.84N/AN/A1,0342,30613,51711,620
2019-01-23$94.80$92.5016.5%4.7%24.2%25.1%15.9%2.9%-1.1%2.3M-53.6M-494.4K2.5611.77N/AN/A8922,28814,08613,269
2019-01-24$94.42$92.5016.8%4.8%15.4%26.3%16.9%2.7%-1.9%2.5M-50.7M-512.6K2.0813.75N/AN/A6921,43714,66213,593
2019-01-25$94.95$92.5017.0%4.9%12.8%27.0%16.6%2.7%-2.0%2.7M-55.9M-512.1K3.4212.65N/AN/A5791,97914,86413,923
2019-01-28$94.23$92.5018.3%5.3%13.3%32.1%18.8%2.9%-2.7%2.4M-46.4M-541.7K1.0214.27N/AN/A1,2041,23215,10914,861
2019-01-29$94.51$92.5017.4%5.0%13.3%28.8%17.5%3.4%-1.8%2.7M-50.4M-565.1K1.1216.82N/AN/A73582315,96215,729
2019-01-30$94.88$92.5017.4%5.0%12.9%28.8%17.6%2.9%-1.5%2.9M-54.1M-578.6K1.5613.12N/AN/A56688316,64216,378
2019-01-31$95.94$95.0018.7%4.6%12.6%33.5%16.3%3.3%-0.3%2.9M-64.8M-585.5K0.8711.34N/AN/A1,2311,07016,92516,835