WM Options History — December 2021

In December 2021, WM traded between $159.55 and $167.55. ATM implied volatility averaged 21.0%, placing in the 53.2% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded above realized volatility by 0.7% (HV 20d: 20.3%). Max pain ranged from $140.00 to $165.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.41.

Notable Days

  • 2021-12-01: Highest Volume — 39,480 contracts
  • 2021-12-16: Largest IV spike — 40.9% change
  • 2021-12-03: Highest IV Rank — 94.3%
  • 2021-12-03: Largest Expected Move — 8.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$163.54$159.55$167.55$161.30$167.55
Max Pain$149.32$140.00$165.00$160.00$150.00
ATM IV21.0%15.7%28.0%27.0%15.7%
Expected Move5.8%4.0%8.4%7.7%4.4%
HV 20d20.3%16.1%22.5%19.3%16.1%
HV 60d18.3%17.4%19.1%17.4%18.7%
IV Rank53.2%22.3%94.3%88.5%22.3%
IV Percentile72.3%21.4%99.6%98.4%21.4%
Term Structure-0.1%-3.8%6.4%-2.0%-1.3%
VWIV21.7%15.8%30.0%26.6%15.8%
Skew 25d4.4%1.5%8.2%4.1%3.2%
Skew 10d8.8%0.0%14.8%7.7%5.8%
Call IV 25d19.5%14.7%24.7%24.0%18.7%
Put IV 25d23.9%19.4%32.9%28.1%22.0%
Bid-Ask Spread %74.8067.5481.6676.2377.94
Gamma HHI0.400.330.520.340.46
Net GEX20.0M8.0M33.4M8.0M33.2M
Net DEX-267.7M-461.8M-135.6M-223.0M-461.8M
Net VEX-1.7M-1.9M-1.2M-1.2M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.410.131.120.590.87
Total Volume13,092.2734,26339,48039,4804,402
Total OI85,722.90957,21393,39557,21392,530

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-12-01$161.30$160.0027.0%7.7%19.3%88.5%26.6%4.1%-2.0%8.0M-223.0M-1.2M0.5976.23N/AN/A24,76014,72033,74423,469
2021-12-02$164.19$165.0024.4%7.2%19.9%73.2%27.0%1.5%-0.3%15.1M-275.9M-1.8M0.2174.68N/AN/A16,3283,39247,43632,737
2021-12-03$162.32$165.0028.0%8.4%20.4%94.3%29.1%8.2%-1.9%13.4M-233.4M-1.9M0.2473.21N/AN/A10,2272,40849,60433,336
2021-12-06$163.60$140.0024.9%6.6%20.5%76.0%27.7%2.2%-1.1%15.1M-265.5M-1.8M0.2268.75N/AN/A10,2722,28149,44533,522
2021-12-07$164.11$140.0021.6%6.0%20.5%56.6%23.1%3.0%0.8%17.4M-268.7M-1.8M0.3268.41N/AN/A11,5913,70049,72233,549
2021-12-08$163.73$145.0018.5%5.9%20.4%38.9%20.7%6.2%0.4%17.6M-262.9M-1.7M0.3775.08N/AN/A11,2434,20650,73634,414
2021-12-09$163.33$145.0018.9%5.5%19.9%41.2%19.4%3.8%0.3%19.0M-254.2M-1.7M0.3271.43N/AN/A11,7913,76851,70635,170
2021-12-10$164.52$145.0022.6%5.5%19.9%62.5%21.4%7.5%0.4%19.0M-288.2M-1.8M0.2979.87N/AN/A11,0443,19352,80636,317
2021-12-13$164.77$150.0019.5%5.4%19.5%44.8%19.4%3.9%-1.1%19.9M-295.9M-1.8M0.3275.02N/AN/A11,4283,66453,10336,880
2021-12-14$162.53$150.0019.7%5.5%20.1%45.9%22.3%4.4%-0.3%18.4M-209.2M-1.7M0.2179.31N/AN/A11,4232,43753,49937,620
2021-12-15$162.76$150.0017.4%5.4%19.5%32.5%19.2%6.2%3.0%18.4M-210.3M-1.7M0.2278.69N/AN/A10,7172,35853,95638,086
2021-12-16$166.05$150.0024.5%6.2%20.7%74.0%22.1%2.4%-3.8%20.7M-345.2M-1.8M0.5481.66N/AN/A19,51910,51754,24238,160
2021-12-17$162.34$145.0024.6%6.3%22.1%74.6%19.2%6.5%-2.4%16.4M-190.4M-1.7M0.1973.12N/AN/A11,4262,17754,84238,553
2021-12-20$160.50$145.0022.7%6.5%22.3%63.1%30.0%5.0%-0.8%15.7M-161.7M-1.6M0.1374.59N/AN/A10,2431,33248,31933,580
2021-12-21$159.55$145.0022.0%6.3%22.3%59.1%25.1%3.3%2.4%15.3M-135.6M-1.6M0.1569.41N/AN/A10,4141,59448,63633,736
2021-12-22$160.70$145.0019.4%5.6%22.3%44.1%21.0%5.2%-1.6%17.0M-167.9M-1.6M0.4579.10N/AN/A3,4901,57049,09734,104
2021-12-23$162.33$150.0019.5%5.3%22.5%44.7%20.6%3.0%6.4%20.2M-210.6M-1.6M0.4775.41N/AN/A3,2121,50149,29534,286
2021-12-27$163.73$150.0017.4%5.1%22.5%32.7%16.1%5.1%0.3%23.7M-241.3M-1.5M0.4176.64N/AN/A3,3181,37348,89534,021
2021-12-28$165.19$150.0017.8%4.8%21.5%34.8%17.0%3.7%-0.2%32.0M-364.7M-1.7M0.6270.96N/AN/A2,6331,63056,09234,033
2021-12-29$166.55$150.0016.7%4.0%17.0%28.1%16.3%4.3%0.9%33.4M-422.9M-1.7M1.1278.59N/AN/A2,7543,08856,18934,273
2021-12-30$166.19$150.0018.5%4.7%17.0%38.7%17.2%4.1%0.1%31.3M-401.3M-1.7M0.7467.54N/AN/A2,8022,08456,25635,908
2021-12-31$167.55$150.0015.7%4.4%16.1%22.3%15.8%3.2%-1.3%33.2M-461.8M-1.6M0.8777.94N/AN/A2,3492,05356,48036,050