WM Options History — December 2020

In December 2020, WM traded between $114.80 and $119.52. ATM implied volatility averaged 20.4%, placing in the 17.1% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 7.2% (HV 20d: 13.2%). Max pain ranged from $110.00 to $120.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.40.

Notable Days

  • 2020-12-02: Highest Volume — 6,308 contracts
  • 2020-12-29: Largest IV spike — 12.1% change
  • 2020-12-21: Highest IV Rank — 18.7%
  • 2020-12-03: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$116.84$114.80$119.52$119.52$117.67
Max Pain$111.14$110.00$120.00$120.00$110.00
ATM IV20.4%18.6%21.5%19.0%18.9%
Expected Move5.9%5.3%6.3%5.5%5.4%
HV 20d13.2%9.1%21.3%21.3%13.3%
HV 60d21.0%20.1%22.4%22.0%20.2%
IV Rank17.1%14.5%18.7%15.2%15.0%
IV Percentile33.5%15.1%44.0%26.6%16.7%
Term Structure1.6%0.4%3.3%0.7%1.9%
VWIV20.3%19.2%21.5%19.4%19.9%
Skew 25d2.9%1.4%3.9%1.9%3.1%
Skew 10d5.8%2.8%7.5%4.7%7.5%
Call IV 25d19.5%18.4%20.7%18.7%19.0%
Put IV 25d22.3%20.6%23.5%20.6%22.2%
Bid-Ask Spread %30.8616.4141.4720.9624.60
Gamma HHI0.230.190.290.230.29
Net GEX4.7M3.0M6.7M5.0M6.4M
Net DEX-62.9M-100.8M-32.1M-100.8M-76.1M
Net VEX-573.9K-600.7K-547.6K-547.6K-566.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.400.072.070.390.53
Total Volume1,838.6823986,3081,275623
Total OI44,881.18241,52148,90842,13446,735

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$119.52$120.0019.0%5.5%21.3%15.2%19.4%1.9%0.7%5.0M-100.8M-547.6K0.3920.96N/AN/A92035524,33417,800
2020-12-02$117.21$120.0020.6%5.9%17.4%17.5%20.6%1.4%1.6%4.1M-75.9M-556.1K0.0920.59N/AN/A5,79351524,69117,665
2020-12-03$117.20$110.0020.6%6.3%17.1%17.5%20.7%3.9%0.4%4.1M-61.8M-566.7K0.9839.15N/AN/A1,01899323,63017,891
2020-12-04$117.42$110.0020.4%6.0%12.4%17.2%19.6%3.4%1.9%3.7M-57.9M-564.2K0.0716.41N/AN/A1,91213923,88418,624
2020-12-07$116.56$110.0020.8%6.1%12.6%17.8%20.6%2.5%1.1%3.8M-52.9M-570.4K0.2434.58N/AN/A86120424,89618,686
2020-12-08$116.78$110.0020.2%5.9%10.6%16.9%20.3%2.7%2.9%3.9M-54.4M-564.4K0.5922.00N/AN/A1,05762124,82818,751
2020-12-09$116.66$110.0021.3%6.1%9.6%18.4%20.4%2.8%3.0%3.8M-53.8M-560.4K0.1533.31N/AN/A1,83128324,88318,883
2020-12-10$115.01$110.0021.2%6.1%10.5%18.4%21.5%2.4%2.7%3.0M-33.7M-560.7K0.3238.55N/AN/A1,73354625,20219,025
2020-12-11$115.17$110.0020.9%6.0%10.0%17.9%20.9%2.6%1.4%3.3M-36.2M-562.5K0.1437.73N/AN/A2,11228625,72119,297
2020-12-14$114.80$110.0020.9%6.0%9.1%17.8%20.7%3.4%1.3%3.2M-32.1M-558.4K0.2538.32N/AN/A1,06226826,76319,417
2020-12-15$116.56$110.0020.8%5.9%11.2%17.7%20.3%3.1%1.4%4.3M-56.8M-563.5K2.0741.47N/AN/A1,0892,25827,02419,253
2020-12-16$116.29$110.0020.8%6.0%11.2%17.8%20.6%2.7%1.3%3.9M-51.4M-598.6K0.3640.16N/AN/A68124327,31520,710
2020-12-17$117.74$110.0019.6%5.6%12.3%15.9%19.9%2.2%0.4%5.0M-71.0M-599.5K0.1531.92N/AN/A2,11831927,39520,707
2020-12-18$117.15$110.0020.5%5.9%12.3%17.4%19.8%2.5%1.5%5.6M-67.4M-599.7K0.2129.22N/AN/A1,38728928,20120,707
2020-12-21$116.14$110.0021.5%6.2%12.6%18.7%21.3%2.8%0.5%5.3M-62.6M-595.6K0.3134.72N/AN/A1,92059825,38818,165
2020-12-22$117.80$110.0019.6%5.6%13.8%16.0%20.0%3.7%1.8%6.1M-80.7M-600.7K0.1835.10N/AN/A1,01918625,60718,576
2020-12-23$116.50$110.0020.5%5.9%14.2%17.3%19.9%2.9%1.6%5.4M-66.6M-593.3K0.4932.35N/AN/A64731726,01918,652
2020-12-24$116.70$110.0019.8%5.7%14.1%16.2%19.2%2.6%1.8%5.7M-70.9M-579.4K0.3330.02N/AN/A2999926,33618,827
2020-12-28$117.88$110.0018.6%5.3%14.7%14.5%19.9%3.2%2.3%6.7M-82.4M-572.4K0.3031.71N/AN/A1,17435226,44318,824
2020-12-29$116.85$110.0020.8%6.0%14.9%17.8%20.4%3.6%3.3%6.0M-70.2M-577.2K0.4023.19N/AN/A76630926,72618,962
2020-12-30$116.77$115.0020.9%6.0%14.7%17.8%20.1%3.8%1.4%5.9M-69.3M-568.9K0.1722.83N/AN/A1,06818126,86219,081
2020-12-31$117.67$110.0018.9%5.4%13.3%15.0%19.9%3.1%1.9%6.4M-76.1M-566.5K0.5324.60N/AN/A40621727,60419,131