WM Options History — March 2023

In March 2023, WM traded between $148.75 and $162.89. ATM implied volatility averaged 19.9%, placing in the 17.6% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 3.8% (HV 20d: 16.2%). Max pain ranged from $155.00 to $155.00. Net GEX was positive for 14 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 0.85.

Notable Days

  • 2023-03-31: Highest Volume — 23,022 contracts
  • 2023-03-23: Largest IV spike — 12.3% change
  • 2023-03-23: Highest IV Rank — 31.0%
  • 2023-03-23: Largest Expected Move — 6.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$153.29$148.75$162.89$148.75$162.89
Max Pain$155.00$155.00$155.00$155.00$155.00
ATM IV19.9%17.0%22.4%18.8%19.0%
Expected Move5.5%4.8%6.4%5.3%4.9%
HV 20d16.2%13.1%21.2%17.6%21.1%
HV 60d19.8%19.4%21.0%19.6%21.0%
IV Rank17.6%1.8%31.0%11.5%12.6%
IV Percentile31.9%0.4%59.9%15.1%18.3%
Term Structure-0.3%-1.4%2.3%-1.0%-0.1%
VWIV19.2%16.4%21.3%17.8%16.9%
Skew 25d4.4%3.0%5.9%3.5%4.1%
Skew 10d8.5%4.3%11.7%7.2%8.0%
Call IV 25d18.1%15.7%20.4%17.9%17.7%
Put IV 25d22.5%18.8%25.4%21.4%21.8%
Bid-Ask Spread %61.7025.7282.2755.5944.12
Gamma HHI0.220.140.360.270.36
Net GEX4.4M-16.2M26.8M-15.2M26.8M
Net DEX-57.6M-304.9M93.2M93.2M-304.9M
Net VEX-1.2M-1.3M-914.2K-959.1K-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.850.381.471.310.94
Total Volume3,697.08771123,02296423,022
Total OI65,476.04354,93373,84659,59267,533

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$148.75$155.0018.8%5.3%17.6%11.5%17.8%3.5%-1.0%-15.2M93.2M-959.1K1.3155.59N/AN/A41754731,65727,935
2023-03-02$150.01$155.0018.1%5.2%17.7%7.5%18.4%4.4%-0.7%-11.7M66.1M-972.4K1.1650.54N/AN/A69580431,77328,167
2023-03-03$149.73$155.0017.2%4.8%13.1%2.9%16.4%3.2%-0.2%-13.4M72.1M-946.2K0.3961.51N/AN/A1,30350731,98028,456
2023-03-06$150.83$155.0017.0%5.0%13.1%1.8%17.0%3.1%-0.5%-12.3M45.8M-932.9K0.8680.71N/AN/A81570330,33324,600
2023-03-07$149.45$155.0017.8%5.1%13.4%6.2%18.1%5.8%-1.3%-14.7M77.1M-914.2K1.0479.91N/AN/A4,4004,55930,68024,980
2023-03-08$149.68$155.0017.2%5.1%13.3%2.7%18.8%3.2%-0.1%-16.2M58.9M-1.1M0.9882.27N/AN/A3,7093,64034,64429,173
2023-03-09$150.79$155.0018.7%5.6%13.6%11.0%18.1%4.2%-0.5%-5.9M6.3M-1.2M1.0980.06N/AN/A1,7251,87938,03032,639
2023-03-10$148.86$155.0020.5%5.9%13.4%20.7%20.6%5.2%-1.4%-9.2M52.1M-1.3M0.4779.14N/AN/A2,3691,11938,43232,503
2023-03-13$151.26$155.0021.6%6.1%14.2%26.6%20.6%3.7%0.0%-2.6M-15.2M-1.3M0.8577.21N/AN/A85072438,36032,187
2023-03-14$153.93$155.0020.0%5.8%14.9%17.8%20.7%4.3%0.3%5.4M-88.5M-1.3M0.9177.92N/AN/A88180338,57532,277
2023-03-15$154.61$155.0022.1%6.2%14.9%29.5%20.7%5.9%-0.9%6.4M-101.0M-1.3M0.3875.35N/AN/A2,41092238,98732,627
2023-03-16$155.75$155.0020.6%5.8%15.0%21.1%19.3%5.0%-0.7%16.2M-149.6M-1.3M0.5955.68N/AN/A1,29776940,36832,841
2023-03-17$152.86$155.0021.0%6.0%16.6%23.5%21.3%5.1%0.1%11.6M-70.4M-1.2M0.7875.58N/AN/A2,6912,09740,52733,319
2023-03-20$154.96$155.0020.2%5.9%16.3%19.0%20.0%4.4%0.0%13.5M-123.5M-1.3M0.5160.23N/AN/A2,1601,09439,27324,618
2023-03-21$154.91$155.0019.2%5.5%15.4%13.6%19.8%4.4%-1.2%14.4M-123.9M-1.2M0.8262.50N/AN/A39032140,50425,504
2023-03-22$153.24$155.0019.9%5.7%15.8%17.6%20.4%3.9%-0.0%12.9M-89.1M-1.2M1.4767.04N/AN/A43664240,69325,668
2023-03-23$150.94$155.0022.4%6.4%16.6%31.0%20.0%3.0%0.5%11.6M-30.7M-1.2M0.5144.96N/AN/A1,30666440,90026,042
2023-03-24$154.62$155.0021.1%5.8%18.6%23.7%20.7%4.7%2.3%13.3M-123.1M-1.2M0.9160.27N/AN/A47543040,85526,150
2023-03-27$153.94$155.0021.7%5.5%18.7%27.3%19.2%5.0%-0.6%10.8M-68.8M-1.2M0.7725.72N/AN/A55242738,07723,255
2023-03-28$154.87$155.0021.7%5.6%18.5%27.0%20.0%5.3%-0.2%14.0M-88.0M-1.2M0.9630.42N/AN/A1,1441,10238,39623,460
2023-03-29$156.92$155.0021.2%5.1%18.6%24.4%20.5%4.1%0.1%20.3M-144.5M-1.2M1.1937.73N/AN/A1,1501,36339,37424,378
2023-03-30$161.94$155.0021.3%4.9%21.2%25.1%17.5%5.2%-0.3%24.5M-275.1M-1.2M0.5554.67N/AN/A3,6872,03340,07825,141
2023-03-31$162.89$155.0019.0%4.9%21.1%12.6%16.9%4.1%-0.1%26.8M-304.9M-1.2M0.9444.12N/AN/A11,87711,14541,33926,194