WM Options History — February 2024

In February 2024, WM traded between $188.06 and $208.39. ATM implied volatility averaged 15.3%, placing in the 33.3% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded below realized volatility by 0.7% (HV 20d: 16.0%). Max pain ranged from $185.00 to $200.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.95.

Notable Days

  • 2024-02-12: Highest Volume — 25,060 contracts
  • 2024-02-13: Largest IV drop — 36.9% change
  • 2024-02-12: Highest IV Rank — 84.1%
  • 2024-02-12: Largest Expected Move — 6.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$197.95$188.06$208.39$188.06$206.03
Max Pain$192.25$185.00$200.00$185.00$200.00
ATM IV15.3%12.6%21.5%17.6%13.1%
Expected Move4.3%3.6%6.0%4.8%3.7%
HV 20d16.0%8.4%21.1%9.4%21.0%
HV 60d13.8%11.1%15.9%11.1%15.6%
IV Rank33.3%11.5%84.1%52.2%15.0%
IV Percentile38.8%9.9%92.9%65.1%15.5%
Term Structure-0.5%-3.4%0.5%-0.6%-0.1%
VWIV15.2%12.6%21.5%16.2%12.8%
Skew 25d1.9%1.0%4.2%4.2%1.2%
Skew 10d3.9%2.1%6.0%5.4%2.1%
Call IV 25d14.6%12.2%19.9%15.1%12.5%
Put IV 25d16.5%13.6%23.0%19.3%13.7%
Bid-Ask Spread %62.6131.3281.7053.8076.30
Gamma HHI0.180.110.260.170.16
Net GEX9.9M-626.6K24.3M7.8M-626.6K
Net DEX-226.0M-343.7M-112.8M-150.8M-211.5M
Net VEX-710.1K-839.5K-631.4K-631.4K-839.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.950.352.100.731.33
Total Volume6,125.31,31625,0601,9843,419
Total OI40,689.928,21454,34728,21450,245

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-02-01$188.06$185.0017.6%4.8%9.4%52.2%16.2%4.2%-0.6%7.8M-150.8M-631.4K0.7353.80N/AN/A1,14783715,94512,269
2024-02-02$188.35$185.0017.3%4.9%9.4%50.0%16.4%2.6%-0.9%7.0M-155.9M-663.5K1.2731.32N/AN/A8731,11016,62212,857
2024-02-05$188.66$185.0018.2%4.9%8.4%57.0%16.3%2.6%-0.7%6.6M-146.6M-664.9K1.3831.98N/AN/A55376316,17912,391
2024-02-06$189.43$190.0018.1%4.9%8.4%56.0%18.0%2.5%-0.8%6.5M-146.5M-673.5K0.6333.69N/AN/A87454716,13912,573
2024-02-07$189.69$190.0018.1%4.9%8.4%55.7%17.2%2.3%-0.8%6.2M-153.7M-652.7K0.9963.02N/AN/A68768216,43712,832
2024-02-08$189.56$190.0018.1%5.0%8.5%56.4%17.2%2.5%-0.8%5.9M-148.6M-674.5K0.9134.84N/AN/A92183516,60713,242
2024-02-09$188.59$190.0018.7%5.2%8.9%60.7%18.9%2.3%-0.7%5.9M-136.0M-687.8K1.4270.37N/AN/A3,0854,38717,09413,621
2024-02-12$188.25$190.0021.5%6.0%8.6%84.1%21.5%3.2%-1.1%3.4M-112.8M-761.5K0.7864.71N/AN/A14,07510,98518,43616,472
2024-02-13$198.76$190.0013.6%3.9%20.3%19.3%14.3%1.7%-0.2%24.3M-322.8M-704.9K0.3867.20N/AN/A14,8625,71927,95924,567
2024-02-14$198.45$190.0012.9%3.7%20.4%13.8%13.4%1.8%0.3%21.6M-282.8M-704.6K0.6763.76N/AN/A5,1433,43227,16125,222
2024-02-15$198.81$190.0012.7%3.6%20.3%12.5%12.6%1.9%0.4%19.7M-281.8M-737.9K0.4064.68N/AN/A2,5981,03427,13926,399
2024-02-16$201.94$190.0013.3%3.8%20.7%16.6%13.3%1.2%0.2%21.4M-343.7M-679.4K0.3565.02N/AN/A8,0392,82427,64926,698
2024-02-20$201.88$190.0013.8%3.9%20.8%21.0%13.5%1.2%-0.4%11.7M-242.2M-691.2K0.9074.67N/AN/A2,5052,25120,81019,775
2024-02-21$203.88$195.0013.7%3.9%20.9%20.3%13.7%1.6%-0.3%14.6M-268.8M-716.7K0.8776.56N/AN/A2,3462,05021,74520,670
2024-02-22$207.36$195.0013.5%3.7%20.8%18.4%13.7%1.3%0.3%13.2M-315.9M-701.4K0.6873.62N/AN/A3,0862,09022,21521,666
2024-02-23$208.39$200.0012.7%3.6%20.8%12.2%13.1%1.4%0.5%9.3M-324.1M-706.7K0.9277.03N/AN/A2,2912,10922,96823,322
2024-02-26$207.80$200.0013.0%3.8%21.0%14.7%13.4%1.2%-3.4%6.5M-275.4M-730.3K0.7170.61N/AN/A3,2842,32021,40822,523
2024-02-27$207.70$200.0012.6%3.6%21.0%11.5%13.3%1.0%-0.1%4.0M-254.3M-794.2K2.1077.27N/AN/A1,3502,83322,11824,045
2024-02-28$207.31$200.0013.4%3.8%21.1%18.0%14.2%1.1%0.2%2.9M-246.3M-786.4K1.6181.70N/AN/A1,7502,81022,69325,085
2024-02-29$206.03$200.0013.1%3.7%21.0%15.0%12.8%1.2%-0.1%-626.6K-211.5M-839.5K1.3376.30N/AN/A1,4671,95223,47726,768