WM Options History — March 2021

In March 2021, WM traded between $112.61 and $130.32. ATM implied volatility averaged 19.6%, placing in the 4.5% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded below realized volatility by 0.7% (HV 20d: 20.3%). Max pain ranged from $105.00 to $120.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 0.59.

Notable Days

  • 2021-03-10: Highest Volume — 13,301 contracts
  • 2021-03-04: Largest IV spike — 32.3% change
  • 2021-03-04: Highest IV Rank — 18.2%
  • 2021-03-04: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$122.00$112.61$130.32$112.61$128.93
Max Pain$115.22$105.00$120.00$105.00$120.00
ATM IV19.6%17.2%28.0%19.4%18.5%
Expected Move5.5%4.9%6.3%5.6%5.3%
HV 20d20.3%14.1%24.5%14.1%22.1%
HV 60d18.7%16.5%19.9%16.6%19.3%
IV Rank4.5%0.2%18.2%3.9%3.7%
IV Percentile14.3%0.4%72.6%9.9%4.8%
Term Structure1.3%-0.8%4.0%0.7%1.7%
VWIV19.4%16.8%21.5%20.0%18.1%
Skew 25d1.3%-0.7%3.0%2.2%-0.7%
Skew 10d3.6%1.5%8.7%3.3%2.4%
Call IV 25d18.9%16.2%22.1%19.1%18.1%
Put IV 25d20.2%17.4%22.3%21.3%17.4%
Bid-Ask Spread %70.3223.8487.6487.6423.84
Gamma HHI0.270.210.370.240.21
Net GEX10.4M5.5M13.9M5.5M11.0M
Net DEX-156.2M-243.4M-64.4M-64.4M-220.4M
Net VEX-922.0K-995.0K-828.6K-828.6K-978.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.590.031.300.730.28
Total Volume4,232.2171,08213,3011,1491,653
Total OI55,61550,93860,25750,98559,005

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$112.61$105.0019.4%5.6%14.1%3.9%20.0%2.2%0.7%5.5M-64.4M-828.6K0.7387.64N/AN/A66348633,92917,056
2021-03-02$114.47$105.0019.1%5.5%15.0%3.3%20.0%1.6%0.5%7.2M-89.2M-840.7K1.3082.87N/AN/A1,9262,49533,96216,976
2021-03-03$114.35$110.0021.1%6.1%14.5%6.8%21.5%0.6%-0.5%5.8M-84.3M-869.1K0.7283.05N/AN/A3,1192,24034,46418,672
2021-03-04$115.45$110.0028.0%6.3%14.5%18.2%21.4%-0.5%1.0%6.8M-91.9M-879.4K0.6275.92N/AN/A3,4162,11035,40019,226
2021-03-05$118.75$110.0020.8%5.7%17.4%6.3%20.6%1.6%1.0%9.4M-148.4M-915.8K0.1565.76N/AN/A4,57267035,27520,222
2021-03-08$121.86$110.0023.4%5.8%19.1%10.5%21.0%1.7%-0.1%12.3M-202.8M-910.2K0.2271.51N/AN/A5,1541,14936,32920,194
2021-03-09$120.03$110.0022.0%6.2%20.2%8.2%21.2%2.1%-0.8%11.5M-161.7M-907.0K0.4176.20N/AN/A3,1671,28636,77320,711
2021-03-10$121.49$115.0020.3%5.8%20.4%5.3%20.1%1.3%0.7%12.5M-184.4M-921.9K0.0376.52N/AN/A12,94735436,83621,470
2021-03-11$120.15$115.0019.6%5.6%20.9%4.2%20.5%1.8%1.0%10.7M-118.2M-944.1K0.7275.22N/AN/A1,6861,21033,09621,429
2021-03-12$121.53$115.0019.8%5.7%21.0%4.5%19.9%1.6%1.5%12.0M-140.7M-968.8K0.1271.96N/AN/A2,01624733,66622,261
2021-03-15$122.24$115.0019.4%5.6%21.0%3.9%19.8%1.8%1.5%13.4M-150.3M-938.0K1.2871.72N/AN/A1,1111,42733,91021,957
2021-03-16$122.87$115.0018.4%5.3%20.8%2.2%19.1%2.1%1.8%13.9M-160.4M-928.5K0.8854.88N/AN/A1,2351,08834,34422,486
2021-03-17$119.25$115.0018.4%5.3%24.0%2.2%18.6%1.0%2.0%11.0M-98.4M-895.7K1.2783.29N/AN/A2,6283,34934,99022,793
2021-03-18$121.47$120.0019.5%5.6%24.5%4.0%19.7%1.6%0.7%13.5M-142.5M-953.6K0.5379.35N/AN/A2,0311,07936,12924,128
2021-03-19$122.23$120.0018.7%5.3%23.2%2.6%19.2%0.4%4.0%10.3M-144.7M-938.5K1.2479.46N/AN/A2,2902,83835,68623,930
2021-03-22$123.12$120.0017.2%4.9%22.7%0.2%18.2%1.5%2.2%9.7M-142.4M-922.0K0.5278.84N/AN/A71137131,85419,695
2021-03-23$123.83$120.0017.5%5.0%22.3%0.8%18.1%0.6%1.9%10.2M-157.8M-902.4K0.8878.95N/AN/A97686031,91619,788
2021-03-24$125.22$120.0017.5%5.0%22.0%1.0%18.1%1.1%1.9%10.5M-178.3M-894.9K0.1479.66N/AN/A5,91280032,01620,297
2021-03-25$127.17$120.0018.6%5.3%22.3%3.5%16.8%3.0%1.1%11.0M-204.0M-950.8K0.6072.32N/AN/A2,1671,30033,75020,848
2021-03-26$129.49$120.0018.4%5.3%21.7%3.4%18.6%0.8%1.5%9.8M-234.5M-963.4K0.3042.91N/AN/A5,3981,61233,77921,882
2021-03-29$130.32$120.0018.0%5.2%21.7%2.3%18.2%0.7%2.4%10.1M-243.4M-995.0K0.3361.02N/AN/A2,60484935,18622,393
2021-03-30$129.18$120.0017.8%5.1%22.1%1.8%17.8%0.9%2.5%10.9M-228.8M-958.6K0.2344.50N/AN/A1,73340635,61022,826
2021-03-31$128.93$120.0018.5%5.3%22.1%3.7%18.1%-0.7%1.7%11.0M-220.4M-978.6K0.2823.84N/AN/A1,28736636,02422,981