WM Options History — November 2020

In November 2020, WM traded between $110.16 and $122.98. ATM implied volatility averaged 22.1%, placing in the 19.6% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded below realized volatility by 6.0% (HV 20d: 28.1%). Max pain ranged from $110.00 to $120.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.57.

Notable Days

  • 2020-11-04: Highest Volume — 2,978 contracts
  • 2020-11-04: Largest IV drop — 24.6% change
  • 2020-11-03: Highest IV Rank — 34.2%
  • 2020-11-03: Largest Expected Move — 9.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$119.76$110.16$122.98$110.16$118.78
Max Pain$115.25$110.00$120.00$115.00$120.00
ATM IV22.1%18.7%32.0%32.0%22.4%
Expected Move6.2%5.3%9.2%9.2%6.4%
HV 20d28.1%22.5%30.7%23.5%22.6%
HV 60d22.4%19.7%22.8%19.7%22.0%
IV Rank19.6%14.6%34.2%34.2%20.0%
IV Percentile43.9%24.6%81.0%81.0%48.0%
Term Structure-0.4%-5.0%1.0%-4.3%-0.8%
VWIV21.3%17.8%30.4%30.4%20.4%
Skew 25d2.9%-0.1%5.4%5.4%-0.1%
Skew 10d6.9%2.6%15.5%12.5%7.4%
Call IV 25d20.1%17.0%29.9%29.9%20.2%
Put IV 25d23.0%19.1%35.4%35.4%20.1%
Bid-Ask Spread %47.0125.8763.1943.3429.28
Gamma HHI0.280.220.400.220.22
Net GEX6.3M2.7M8.9M2.7M4.7M
Net DEX-124.7M-166.9M-32.0M-32.0M-92.7M
Net VEX-581.6K-655.9K-549.3K-621.2K-555.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.102.910.160.50
Total Volume1,692.25262,9782,534610
Total OI43,752.5540,43847,83042,31741,849

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-11-02$110.16$115.0032.0%9.2%23.5%34.2%30.4%5.4%-4.3%2.7M-32.0M-621.2K0.1643.34N/AN/A2,18435024,76217,555
2020-11-03$114.97$115.0032.0%9.2%28.1%34.2%29.1%1.3%-5.0%4.3M-74.7M-655.9K0.2144.17N/AN/A2,06944024,76217,555
2020-11-04$116.12$115.0024.1%6.9%28.2%22.6%24.0%3.1%-0.0%5.0M-86.5M-651.6K0.2125.87N/AN/A2,45552325,12417,904
2020-11-05$119.89$110.0022.7%6.3%30.3%20.5%22.8%3.4%0.7%6.3M-132.3M-638.9K0.1562.23N/AN/A2,10231725,18818,037
2020-11-06$119.67$110.0021.7%6.2%30.3%19.0%22.1%4.2%-0.5%6.7M-131.1M-604.0K0.7862.16N/AN/A47837225,36218,107
2020-11-09$121.80$110.0025.3%5.9%30.6%24.3%19.7%3.3%-0.2%7.4M-161.3M-555.0K0.3163.19N/AN/A1,93959525,46318,104
2020-11-10$122.98$110.0020.8%5.7%30.3%17.7%19.9%3.7%0.2%7.2M-166.9M-567.9K0.5646.96N/AN/A1,05358525,61418,185
2020-11-11$122.71$110.0020.1%5.8%30.2%16.8%20.9%3.4%0.8%7.2M-164.9M-564.5K1.8635.61N/AN/A6481,20825,68818,333
2020-11-12$121.19$110.0022.1%6.3%30.7%19.6%22.8%3.9%0.1%7.1M-144.2M-565.3K2.9157.96N/AN/A5651,64525,69718,339
2020-11-13$122.22$115.0020.9%6.0%30.7%17.9%20.7%3.5%-0.3%7.2M-161.0M-557.0K0.3149.25N/AN/A70122025,87219,627
2020-11-16$121.79$115.0021.2%6.1%29.7%18.4%21.7%3.2%-0.8%7.6M-156.1M-558.2K0.4657.17N/AN/A72733826,30819,730
2020-11-17$121.35$115.0020.8%5.9%29.8%17.7%20.4%2.9%-0.2%7.7M-150.3M-550.7K0.3549.31N/AN/A68524126,38819,852
2020-11-18$120.90$115.0020.1%5.8%29.9%16.8%19.4%3.1%0.4%7.9M-139.6M-571.8K0.3254.76N/AN/A1,58250626,41719,824
2020-11-19$120.75$120.0020.6%5.9%29.6%17.5%20.1%3.4%0.6%8.9M-140.6M-573.5K0.6453.96N/AN/A1,14673327,02420,020
2020-11-20$120.72$120.0019.1%5.5%29.6%15.3%18.3%2.9%0.6%7.0M-149.6M-573.2K0.1733.47N/AN/A1,63127227,23120,599
2020-11-23$120.26$120.0018.7%5.3%27.1%14.6%18.3%3.4%1.0%5.3M-106.4M-549.3K0.1039.14N/AN/A2,22721223,08117,357
2020-11-24$120.27$120.0019.0%5.4%25.5%15.1%17.8%3.0%0.7%5.2M-108.4M-569.1K0.2338.81N/AN/A73016623,74717,388
2020-11-25$119.45$120.0019.0%5.4%22.5%15.0%18.9%0.7%-0.6%5.1M-100.2M-580.8K0.4048.52N/AN/A75730623,86517,484
2020-11-27$119.31$120.0018.7%5.4%22.7%14.7%19.4%1.2%-0.1%5.0M-95.6M-569.7K0.7144.99N/AN/A30721924,02917,580
2020-11-30$118.78$120.0022.4%6.4%22.6%20.0%20.4%-0.1%-0.8%4.7M-92.7M-555.2K0.5029.28N/AN/A40720324,16617,683