WM Options History — February 2023

In February 2023, WM traded between $149.69 and $155.32. ATM implied volatility averaged 18.8%, placing in the 11.5% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded below realized volatility by 0.5% (HV 20d: 19.3%). Max pain ranged from $150.00 to $155.00. Net GEX was positive for 2 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 2.47.

Notable Days

  • 2023-02-27: Highest Volume — 11,074 contracts
  • 2023-02-07: Largest IV spike — 15.0% change
  • 2023-02-13: Highest IV Rank — 22.5%
  • 2023-02-13: Largest Expected Move — 6.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$152.05$149.69$155.32$155.32$149.69
Max Pain$154.47$150.00$155.00$155.00$155.00
ATM IV18.8%17.2%20.8%17.7%18.1%
Expected Move5.5%5.0%6.0%5.5%5.1%
HV 20d19.3%15.8%26.4%23.6%17.7%
HV 60d19.7%19.2%20.2%19.2%19.6%
IV Rank11.5%2.9%22.5%5.6%7.8%
IV Percentile14.7%0.4%36.9%2.8%6.7%
Term Structure-0.1%-1.5%1.6%-1.5%-0.2%
VWIV19.2%17.0%21.2%20.1%18.4%
Skew 25d4.3%2.3%9.3%9.3%3.7%
Skew 10d9.0%6.4%15.5%11.9%7.1%
Call IV 25d17.1%15.3%19.8%15.3%17.3%
Put IV 25d21.5%18.8%24.5%24.5%21.0%
Bid-Ask Spread %58.3934.8480.6980.6945.69
Gamma HHI0.190.100.330.160.25
Net GEX-4.2M-14.7M5.8M5.8M-12.0M
Net DEX32.5M-21.9M72.1M-21.9M72.1M
Net VEX-871.1K-1.0M-700.3K-811.6K-1.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.470.0520.630.591.79
Total Volume3,222.78998611,0744,4781,003
Total OI45,042.57937,76059,08538,46559,085

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$155.32$155.0017.7%5.5%23.6%5.6%20.1%9.3%-1.5%5.8M-21.9M-811.6K0.5980.69N/AN/A2,8091,66923,91514,550
2023-02-02$150.19$150.0017.2%5.7%26.4%2.9%20.4%5.7%-0.1%-2.5M46.5M-700.3K0.9652.28N/AN/A1,3651,31224,32414,946
2023-02-03$151.18$150.0019.0%5.6%26.2%12.7%17.0%4.4%-1.2%-806.7K28.2M-742.0K1.0379.08N/AN/A1,3491,39224,63215,140
2023-02-06$151.88$155.0017.5%5.7%22.1%4.6%19.9%3.1%1.6%-61.2K23.3M-752.6K3.4460.15N/AN/A1,0253,52323,95813,802
2023-02-07$151.24$155.0020.2%5.7%21.9%18.9%20.0%5.0%0.7%-2.5M43.4M-836.7K0.8663.04N/AN/A59751324,44417,004
2023-02-08$150.80$155.0019.1%5.7%20.3%13.0%20.0%2.3%0.9%-3.0M45.1M-839.9K0.7350.00N/AN/A57041624,64117,110
2023-02-09$152.77$155.0019.3%5.3%20.2%14.3%20.3%4.6%-1.2%-1.0M23.7M-868.0K1.0474.23N/AN/A51754024,83517,219
2023-02-10$154.35$155.0018.7%5.4%17.5%11.0%18.6%3.8%0.4%1.0M425.4K-866.6K0.1666.26N/AN/A2,49139025,00217,388
2023-02-13$152.42$155.0020.8%6.0%17.7%22.5%21.2%4.7%-0.4%-500.2K20.6M-859.8K0.9670.27N/AN/A68765926,07316,954
2023-02-14$151.71$155.0019.4%5.5%17.7%14.5%18.7%4.3%0.1%-1.7M33.5M-846.6K5.0467.94N/AN/A8084,07426,35017,146
2023-02-15$151.95$155.0019.1%5.5%15.8%13.1%21.0%4.1%-0.1%-3.9M42.5M-841.7K20.6370.03N/AN/A2184,49726,26320,682
2023-02-16$152.62$155.0017.4%5.0%15.9%4.1%18.1%3.3%0.3%-5.5M42.1M-877.8K2.2038.71N/AN/A1,2562,76526,31024,723
2023-02-17$155.03$155.0018.0%5.2%16.6%7.0%18.4%3.8%-0.2%-14.7M-10.2M-922.5K0.9958.21N/AN/A1,7951,78026,54925,098
2023-02-21$152.81$155.0018.6%5.5%17.4%10.6%18.6%4.5%-0.6%-2.6M19.6M-908.0K0.5453.73N/AN/A1,79297420,46622,790
2023-02-22$151.97$155.0020.1%5.4%17.5%18.8%20.0%4.2%-0.5%-3.6M24.7M-952.0K4.5849.84N/AN/A8643,95421,76123,567
2023-02-23$150.93$155.0019.3%5.5%17.6%14.3%18.4%3.8%0.0%-10.7M62.7M-985.9K0.8448.50N/AN/A70359322,32927,340
2023-02-24$151.10$155.0019.0%5.5%17.6%12.7%18.3%3.3%0.5%-10.2M60.5M-989.2K0.5834.84N/AN/A79646322,50827,610
2023-02-27$150.97$155.0018.7%5.3%17.6%11.1%17.6%4.3%-0.4%-11.2M60.6M-945.7K0.0545.88N/AN/A10,50756722,11127,184
2023-02-28$149.69$155.0018.1%5.1%17.7%7.8%18.4%3.7%-0.2%-12.0M72.1M-1.0M1.7945.69N/AN/A36064331,55227,533