WM Options History — January 2024

In January 2024, WM traded between $177.50 and $187.03. ATM implied volatility averaged 15.9%, placing in the 38.4% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 5.1% (HV 20d: 10.9%). Max pain ranged from $165.00 to $180.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.89.

Notable Days

  • 2024-01-16: Highest Volume — 3,234 contracts
  • 2024-01-16: Largest IV spike — 21.2% change
  • 2024-01-17: Highest IV Rank — 59.2%
  • 2024-01-31: Largest Expected Move — 6.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$182.04$177.50$187.03$179.56$185.63
Max Pain$176.19$165.00$180.00$165.00$180.00
ATM IV15.9%12.2%18.5%13.4%18.3%
Expected Move5.0%3.9%6.1%3.9%6.1%
HV 20d10.9%7.3%14.9%14.4%9.0%
HV 60d14.8%11.1%17.0%16.9%11.1%
IV Rank38.4%7.6%59.2%17.2%58.0%
IV Percentile45.0%6.7%70.2%17.9%70.2%
Term Structure0.8%-0.7%4.2%1.7%-0.4%
VWIV17.2%13.5%21.3%13.5%21.3%
Skew 25d2.7%1.6%5.1%2.5%2.7%
Skew 10d5.7%3.8%9.7%4.8%5.6%
Call IV 25d14.8%11.2%17.1%11.9%17.0%
Put IV 25d17.4%13.4%19.9%14.4%19.6%
Bid-Ask Spread %48.9418.4074.7957.8674.33
Gamma HHI0.280.190.500.210.21
Net GEX14.0M7.5M22.4M16.6M7.6M
Net DEX-184.9M-285.8M-118.0M-213.7M-125.5M
Net VEX-632.9K-681.3K-594.8K-669.1K-640.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.890.231.690.641.56
Total Volume1,574.7626163,2341,6792,030
Total OI36,931.66725,16645,67540,33427,919

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-01-02$179.56$165.0013.4%3.9%14.4%17.2%13.5%2.5%1.7%16.6M-213.7M-669.1K0.6457.86N/AN/A1,02365624,76415,570
2024-01-03$178.53$165.0014.1%4.1%14.6%22.6%13.7%3.4%1.8%16.0M-197.6M-672.1K0.6360.97N/AN/A64240725,24915,945
2024-01-04$179.09$175.0014.9%4.9%14.4%29.3%17.2%5.1%0.7%16.7M-206.5M-668.1K0.9074.79N/AN/A58252625,47316,132
2024-01-05$177.50$175.0014.9%5.0%14.9%29.7%17.3%4.0%2.8%21.3M-179.6M-681.3K1.6969.15N/AN/A7511,26925,76716,451
2024-01-08$177.80$175.0015.2%4.8%14.7%32.1%16.9%2.8%1.8%15.1M-184.6M-654.6K0.5471.22N/AN/A70538425,77516,977
2024-01-09$178.13$175.0012.2%4.7%14.6%7.6%16.9%3.2%2.7%16.6M-190.2M-633.2K0.9569.83N/AN/A47345026,03717,088
2024-01-10$178.80$175.0013.5%4.7%14.6%18.3%16.8%2.0%3.1%18.1M-203.4M-638.2K1.6570.42N/AN/A39364726,25317,421
2024-01-11$179.35$175.0013.8%4.8%13.0%21.0%16.7%2.4%3.4%19.7M-210.1M-635.3K0.7130.63N/AN/A36025626,35417,757
2024-01-12$181.19$175.0014.1%4.8%12.5%23.6%16.7%1.6%4.2%22.0M-247.2M-616.8K0.5132.12N/AN/A1,12256726,39417,843
2024-01-16$180.44$175.0017.1%5.0%11.2%48.1%16.9%2.5%-0.7%22.4M-227.9M-599.7K0.2461.33N/AN/A2,60862626,21817,317
2024-01-17$181.46$175.0018.5%5.3%10.1%59.2%18.9%2.8%-0.6%17.6M-237.6M-608.3K1.2732.51N/AN/A1,0421,32725,50017,639
2024-01-18$183.22$175.0017.0%4.9%7.9%46.9%17.5%2.8%-0.7%14.9M-266.1M-604.1K0.4730.42N/AN/A1,36264325,87418,373
2024-01-19$184.33$180.0017.0%4.9%7.3%47.3%17.3%2.1%-0.6%10.3M-285.8M-615.6K0.2318.40N/AN/A1,75140026,52119,154
2024-01-22$185.00$180.0016.6%5.0%7.3%43.8%17.7%2.0%-0.2%7.6M-126.6M-594.8K0.7050.14N/AN/A1,03071814,11911,047
2024-01-23$185.38$180.0016.8%5.0%7.3%45.1%16.7%2.1%-0.4%8.6M-130.5M-604.1K0.9234.56N/AN/A64459414,63911,351
2024-01-24$184.16$180.0017.0%5.1%7.9%47.2%13.5%2.3%-0.5%8.5M-118.0M-612.0K0.7451.09N/AN/A89066114,79411,508
2024-01-25$185.01$180.0017.1%5.2%8.0%48.1%17.8%2.0%-0.5%9.2M-126.2M-636.0K1.3935.54N/AN/A53374315,33211,891
2024-01-26$185.69$180.0016.9%5.2%7.9%45.9%16.8%2.4%-0.4%9.7M-137.5M-630.4K0.3524.54N/AN/A1,31745615,59012,195
2024-01-29$185.44$180.0018.1%6.0%8.0%55.7%21.0%2.6%-0.4%7.7M-127.4M-631.1K1.5525.68N/AN/A58390615,53511,752
2024-01-30$187.03$180.0018.5%5.9%8.3%59.0%20.4%2.5%-0.5%7.5M-140.5M-645.9K1.0752.17N/AN/A47951415,81112,236
2024-01-31$185.63$180.0018.3%6.1%9.0%58.0%21.3%2.7%-0.4%7.6M-125.5M-640.5K1.5674.33N/AN/A7941,23615,75812,161