WM Options History — May 2023

In May 2023, WM traded between $161.65 and $170.72. ATM implied volatility averaged 15.8%, placing in the 6.5% IV rank vs the trailing year. The 30-day expected move averaged 4.6%. IV traded above realized volatility by 2.0% (HV 20d: 13.8%). Max pain ranged from $160.00 to $165.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.81.

Notable Days

  • 2023-05-09: Highest Volume — 21,691 contracts
  • 2023-05-05: Largest IV drop — 10.1% change
  • 2023-05-25: Highest IV Rank — 22.5%
  • 2023-05-24: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$166.33$161.65$170.72$166.82$162.25
Max Pain$160.68$160.00$165.00$165.00$160.00
ATM IV15.8%14.4%18.1%15.8%17.5%
Expected Move4.6%4.1%5.1%4.1%4.8%
HV 20d13.8%8.2%16.4%16.4%8.2%
HV 60d16.6%16.2%17.1%17.1%16.2%
IV Rank6.5%0.0%22.5%0.7%18.4%
IV Percentile3.8%0.0%18.7%0.4%12.3%
Term Structure0.0%-1.1%0.7%0.4%-1.0%
VWIV16.6%13.9%19.1%14.4%17.5%
Skew 25d4.0%2.9%4.8%3.4%3.9%
Skew 10d8.7%6.4%12.6%6.5%9.5%
Call IV 25d14.1%13.2%15.8%13.4%14.9%
Put IV 25d18.1%16.2%20.1%16.8%18.8%
Bid-Ask Spread %45.4115.0873.0424.3850.36
Gamma HHI0.200.170.230.190.19
Net GEX16.8M2.0M35.2M19.0M4.3M
Net DEX-147.6M-266.9M-17.6M-188.6M-33.6M
Net VEX-1.2M-1.4M-999.3K-1.2M-999.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.163.870.540.16
Total Volume2,376.63635221,6911,955931
Total OI60,74456,52966,60456,81656,960

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$166.82$165.0015.8%4.1%16.4%0.7%14.4%3.4%0.4%19.0M-188.6M-1.2M0.5424.38N/AN/A1,26968634,82421,992
2023-05-02$166.77$165.0017.3%4.4%16.0%8.3%16.4%4.7%-0.6%18.6M-188.2M-1.2M1.2269.61N/AN/A71486935,16022,151
2023-05-03$167.84$165.0015.5%4.7%15.7%0.0%16.1%4.0%0.2%20.1M-215.5M-1.2M0.2073.04N/AN/A1,91937835,17422,569
2023-05-04$167.80$160.0016.6%4.9%15.6%5.3%18.4%3.7%0.1%20.1M-213.7M-1.2M0.5958.02N/AN/A97257335,75822,693
2023-05-05$168.44$160.0014.9%4.5%15.6%0.0%16.6%4.2%0.7%23.4M-236.6M-1.2M0.4361.65N/AN/A62026536,40622,990
2023-05-08$169.30$160.0015.4%4.6%15.3%2.5%17.0%4.4%0.6%26.1M-248.7M-1.2M0.4836.19N/AN/A44221036,02022,607
2023-05-09$169.89$160.0015.4%4.6%15.2%2.3%19.0%4.2%0.6%27.9M-266.9M-1.1M1.0024.97N/AN/A10,84810,84336,08322,718
2023-05-10$170.72$160.0015.1%4.5%14.4%0.9%13.9%3.6%0.5%30.4M-255.5M-1.3M0.1836.71N/AN/A5,18193437,18524,253
2023-05-11$170.15$160.0014.9%4.4%14.1%0.2%16.0%3.8%0.5%35.2M-248.6M-1.4M0.6040.17N/AN/A38322941,57324,604
2023-05-12$169.15$160.0014.5%4.2%13.5%0.0%15.8%2.9%0.5%29.7M-214.2M-1.3M0.5633.14N/AN/A85147341,67924,569
2023-05-15$168.57$160.0014.4%4.2%13.6%0.0%15.9%3.8%-0.2%26.8M-194.2M-1.3M1.1615.08N/AN/A60670041,47024,340
2023-05-16$168.00$160.0014.6%4.2%13.7%0.7%15.1%3.8%0.1%21.9M-175.6M-1.3M0.5755.31N/AN/A63436041,72124,744
2023-05-17$166.44$160.0015.9%4.6%14.1%8.9%16.1%3.8%-0.2%14.3M-125.0M-1.2M0.6555.70N/AN/A1,15074741,76024,813
2023-05-18$164.94$160.0015.2%4.3%14.5%4.3%15.6%3.7%0.0%9.6M-78.4M-1.1M0.9347.07N/AN/A76771041,70524,899
2023-05-19$165.48$160.0015.5%4.5%14.5%6.5%15.4%3.6%-0.2%13.6M-113.3M-1.1M0.3719.29N/AN/A90733341,71224,791
2023-05-22$164.50$160.0015.2%4.3%14.6%4.6%15.8%3.7%0.2%8.4M-78.2M-1.1M0.9953.70N/AN/A78477635,12521,729
2023-05-23$162.97$160.0015.7%4.8%15.0%7.8%19.1%4.0%0.1%5.5M-44.1M-1.1M3.8752.13N/AN/A3071,18735,41322,254
2023-05-24$162.96$160.0016.5%5.1%14.4%12.6%16.8%4.7%0.0%5.1M-46.6M-1.1M1.0450.68N/AN/A27028235,32622,984
2023-05-25$162.33$160.0018.1%5.0%13.6%22.5%16.9%4.6%-0.7%3.4M-30.4M-1.1M1.0846.72N/AN/A16918335,52523,044
2023-05-26$161.65$160.0017.3%4.7%8.2%17.5%18.6%4.8%-0.5%2.0M-17.6M-1.0M0.2930.29N/AN/A66519535,53222,984
2023-05-30$162.36$160.0017.4%4.9%8.2%18.0%19.0%4.8%-1.1%3.8M-34.2M-1.0M1.0564.80N/AN/A47149334,34522,184
2023-05-31$162.25$160.0017.5%4.8%8.2%18.4%17.5%3.9%-1.0%4.3M-33.6M-999.3K0.1650.36N/AN/A80612534,52822,432