WM Options History — July 2023

In July 2023, WM traded between $162.94 and $172.45. ATM implied volatility averaged 17.0%, placing in the 22.3% IV rank vs the trailing year. The 30-day expected move averaged 4.8%. IV traded above realized volatility by 0.2% (HV 20d: 16.8%). Max pain ranged from $160.00 to $170.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 1.08.

Notable Days

  • 2023-07-20: Highest Volume — 11,370 contracts
  • 2023-07-26: Largest IV drop — 19.3% change
  • 2023-07-25: Highest IV Rank — 34.2%
  • 2023-07-25: Largest Expected Move — 5.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$168.72$162.94$172.45$171.24$163.93
Max Pain$166.00$160.00$170.00$160.00$165.00
ATM IV17.0%13.6%19.1%16.3%13.6%
Expected Move4.8%3.7%5.6%3.7%3.9%
HV 20d16.8%14.2%23.1%15.3%20.3%
HV 60d14.0%13.0%15.5%13.7%15.5%
IV Rank22.3%3.1%34.2%18.6%3.1%
IV Percentile22.3%2.8%49.6%13.9%2.8%
Term Structure-0.5%-1.3%0.1%0.0%-0.4%
VWIV16.8%12.8%19.8%13.3%14.4%
Skew 25d3.5%2.5%4.2%3.6%2.5%
Skew 10d7.2%5.2%9.2%5.8%5.4%
Call IV 25d15.3%12.7%16.8%14.0%12.7%
Put IV 25d18.9%15.3%20.6%17.6%15.3%
Bid-Ask Spread %53.0719.7873.3671.9546.80
Gamma HHI0.280.130.610.360.13
Net GEX10.0M-16.5M47.5M20.7M2.3M
Net DEX-93.0M-171.6M68.2M-162.8M-36.1M
Net VEX-816.0K-876.7K-746.5K-867.3K-776.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.163.390.821.91
Total Volume2,703.2558811,3705882,431
Total OI44,001.3534,11756,50843,33134,117

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$171.24$160.0016.3%3.7%15.3%18.6%13.3%3.6%0.0%20.7M-162.8M-867.3K0.8271.95N/AN/A32326526,68916,642
2023-07-05$171.03$162.5016.6%3.9%15.3%20.3%12.8%3.9%-0.4%20.9M-161.6M-848.9K0.9973.36N/AN/A43142526,86516,734
2023-07-06$171.51$165.0017.3%4.9%14.3%24.0%16.0%3.0%-1.0%21.6M-171.6M-876.7K0.3467.99N/AN/A84429026,94617,043
2023-07-07$170.50$165.0016.9%4.8%14.2%21.7%17.1%3.3%-0.1%19.1M-150.6M-870.6K0.7559.83N/AN/A84963827,12917,189
2023-07-10$171.03$165.0017.5%5.0%14.2%25.2%17.3%3.4%0.1%19.8M-144.5M-853.2K0.6343.73N/AN/A48930626,71117,150
2023-07-11$169.65$165.0017.5%4.9%14.7%25.1%17.5%4.2%-0.4%14.8M-123.3M-868.1K1.3642.19N/AN/A51269726,98417,196
2023-07-12$169.52$165.0017.1%4.9%14.7%22.7%16.7%3.8%-0.0%12.4M-113.9M-840.3K0.4160.36N/AN/A72930227,10917,580
2023-07-13$168.46$165.0017.0%4.8%14.7%22.3%16.9%3.3%-0.1%10.2M-100.5M-822.5K0.2865.66N/AN/A69019227,51817,743
2023-07-14$168.41$165.0016.9%4.8%14.8%21.7%16.5%3.4%-0.4%9.3M-98.7M-803.3K0.6733.08N/AN/A52535027,97617,874
2023-07-17$168.06$165.0017.2%4.9%14.3%23.6%17.1%4.0%-0.7%9.2M-94.8M-789.7K0.3350.57N/AN/A57018727,51817,642
2023-07-18$166.63$165.0018.5%5.3%14.6%30.8%17.8%3.7%-0.9%6.0M-75.7M-766.5K0.8034.03N/AN/A71357227,50817,710
2023-07-19$166.25$165.0018.5%5.3%14.7%30.7%18.0%3.7%-0.7%4.5M-71.5M-754.8K0.1627.49N/AN/A86813827,76917,832
2023-07-20$171.35$165.0018.7%5.4%18.1%32.1%19.0%4.2%-1.3%18.3M-152.2M-794.1K3.3919.78N/AN/A2,5908,78027,95517,828
2023-07-21$172.45$170.0018.7%5.4%18.1%31.9%18.7%3.4%-1.1%47.5M-166.1M-839.7K0.2446.52N/AN/A2,22353129,64026,868
2023-07-24$171.89$170.0018.6%5.4%17.9%31.4%19.4%4.0%-0.9%3.4M-102.3M-837.4K3.1267.10N/AN/A1,2954,04119,20318,288
2023-07-25$171.72$170.0019.1%5.6%17.9%34.2%19.8%4.1%-0.9%2.8M-97.6M-856.1K2.0766.86N/AN/A1,5963,30220,30518,879
2023-07-26$164.66$170.0015.4%4.5%23.1%13.5%15.6%3.2%-0.6%-16.5M32.4M-757.2K0.7172.34N/AN/A4,3193,04821,40721,440
2023-07-27$163.18$170.0014.8%4.6%23.0%10.2%16.4%3.4%-0.4%-14.5M68.2M-746.5K0.7456.26N/AN/A2,0251,50021,66422,226
2023-07-28$162.94$167.5013.7%4.2%22.3%4.0%15.4%2.8%0.1%-12.3M63.9M-750.8K1.8655.51N/AN/A1,5642,91522,54622,604
2023-07-31$163.93$165.0013.6%3.9%20.3%3.1%14.4%2.5%-0.4%2.3M-36.1M-776.2K1.9146.80N/AN/A8361,59521,31012,807