WM Options History — July 2020

In July 2020, WM traded between $102.26 and $109.90. ATM implied volatility averaged 24.3%, placing in the 22.9% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 3.7% (HV 20d: 20.6%). Max pain ranged from $100.00 to $105.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.57.

Notable Days

  • 2020-07-29: Highest Volume — 6,094 contracts
  • 2020-07-13: Largest IV spike — 26.2% change
  • 2020-07-13: Highest IV Rank — 32.1%
  • 2020-07-09: Largest Expected Move — 8.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$106.59$102.26$109.90$105.59$109.33
Max Pain$103.86$100.00$105.00$105.00$105.00
ATM IV24.3%20.3%30.6%25.1%20.3%
Expected Move7.1%5.8%8.3%7.2%5.8%
HV 20d20.6%17.0%31.8%31.8%17.0%
HV 60d30.1%28.4%33.7%33.7%28.4%
IV Rank22.9%17.0%32.1%24.1%17.0%
IV Percentile65.5%53.2%79.8%70.2%53.2%
Term Structure0.2%-1.4%3.5%2.0%1.5%
VWIV24.9%20.5%28.8%25.2%20.6%
Skew 25d4.3%2.2%6.8%4.6%2.9%
Skew 10d9.0%5.5%12.6%9.6%7.7%
Call IV 25d23.3%19.3%26.6%23.4%19.3%
Put IV 25d27.6%22.0%31.6%28.0%22.3%
Bid-Ask Spread %35.2311.5058.3011.5028.77
Gamma HHI0.190.140.410.150.26
Net GEX3.6M1.7M8.0M2.6M5.6M
Net DEX-44.8M-89.4M2.7M-25.4M-70.9M
Net VEX-827.0K-878.3K-805.2K-878.3K-841.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.202.580.570.62
Total Volume2,141.1367946,0941,0451,188
Total OI53,556.31844,03559,90156,05653,206

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$105.59$105.0025.1%7.2%31.8%24.1%25.2%4.6%2.0%2.6M-25.4M-878.3K0.5711.50N/AN/A66637930,88625,170
2020-07-02$105.18$105.0023.0%6.6%30.5%21.0%24.1%4.0%3.5%2.5M-21.3M-866.2K0.3613.34N/AN/A74626731,07425,194
2020-07-06$105.24$100.0024.0%7.4%26.5%22.4%26.7%5.2%-0.2%2.9M-25.9M-835.6K1.9458.30N/AN/A1,2952,51331,29825,082
2020-07-07$104.56$105.0024.4%7.7%26.0%23.0%28.8%4.8%0.3%2.4M-13.6M-827.5K0.2556.59N/AN/A1,07227031,52625,199
2020-07-08$103.17$105.0025.0%7.6%25.9%23.9%27.5%4.5%-0.5%2.0M-2.8M-814.3K0.2531.65N/AN/A1,49938131,96525,324
2020-07-09$102.26$100.0028.1%8.3%25.2%28.4%27.9%5.1%-1.3%1.7M2.7M-810.9K0.2839.88N/AN/A1,39438432,72525,439
2020-07-10$103.73$100.0024.2%7.5%18.1%22.8%25.7%6.0%-0.1%2.7M-13.4M-818.9K0.2049.84N/AN/A1,47429133,15925,567
2020-07-13$104.61$100.0030.6%8.0%18.3%32.1%27.6%4.3%-1.2%3.7M-37.3M-816.5K0.4056.18N/AN/A1,36154333,78124,786
2020-07-14$105.97$100.0027.9%8.0%18.6%28.1%26.4%6.8%-1.4%4.6M-53.5M-815.7K0.5050.69N/AN/A97349133,96424,663
2020-07-15$107.00$105.0027.3%7.8%18.2%27.3%27.4%5.3%-1.1%5.5M-69.9M-811.3K2.5847.48N/AN/A1,4453,72334,33924,619
2020-07-16$107.53$105.0024.6%7.0%18.2%23.2%27.2%6.0%0.5%4.7M-70.9M-823.4K0.4046.12N/AN/A1,58663834,33825,563
2020-07-17$109.12$105.0023.8%6.8%17.7%22.1%25.3%4.7%0.1%8.0M-89.4M-806.5K0.3634.85N/AN/A2,8751,03834,47125,427
2020-07-20$106.69$105.0024.4%7.0%19.2%23.0%23.7%3.4%-1.1%2.7M-42.0M-805.2K0.4331.47N/AN/A1,99986524,25319,782
2020-07-21$107.69$105.0022.5%6.4%19.4%20.2%22.9%3.3%0.1%3.1M-51.8M-830.2K0.7222.62N/AN/A91865725,35020,567
2020-07-22$108.25$105.0022.4%6.4%19.4%20.0%22.5%4.2%0.3%3.3M-54.8M-833.5K0.2024.14N/AN/A88017525,55120,979
2020-07-23$107.85$105.0022.9%6.6%17.2%20.9%23.5%3.6%-0.0%3.1M-51.8M-826.9K0.3723.53N/AN/A76027926,01321,096
2020-07-24$107.35$105.0024.4%7.0%17.3%23.1%23.1%3.9%0.5%2.9M-46.9M-822.7K0.3031.05N/AN/A1,40242625,99421,272
2020-07-27$106.83$105.0024.5%7.0%17.5%23.1%23.9%2.8%0.3%2.8M-43.4M-824.5K0.2828.66N/AN/A89724826,80021,498
2020-07-28$107.68$105.0022.6%6.5%17.6%20.3%23.7%3.9%0.5%3.4M-50.9M-821.1K0.7135.56N/AN/A46333127,13521,585
2020-07-29$109.90$105.0022.8%6.5%17.0%20.6%22.9%2.5%-0.0%4.6M-78.3M-822.0K0.5237.32N/AN/A4,0122,08227,23821,757
2020-07-30$109.38$105.0020.5%5.9%17.1%17.4%20.5%2.2%2.1%5.0M-72.9M-840.7K0.2615.45N/AN/A1,76745229,08323,521
2020-07-31$109.33$105.0020.3%5.8%17.0%17.0%20.6%2.9%1.5%5.6M-70.9M-841.3K0.6228.77N/AN/A73345529,66523,541