WM Options History — March 2024

In March 2024, WM traded between $205.80 and $213.43. ATM implied volatility averaged 14.3%, placing in the 24.8% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 1.0% (HV 20d: 13.3%). Max pain ranged from $185.00 to $202.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.92.

Notable Days

  • 2024-03-13: Highest Volume — 15,870 contracts
  • 2024-03-25: Largest IV spike — 29.4% change
  • 2024-03-27: Highest IV Rank — 59.2%
  • 2024-03-11: Largest Expected Move — 4.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$210.01$205.80$213.43$205.80$212.29
Max Pain$192.75$185.00$202.50$200.00$202.50
ATM IV14.3%11.7%18.5%13.2%18.3%
Expected Move3.7%3.2%4.0%3.7%3.3%
HV 20d13.3%6.7%21.3%20.9%6.7%
HV 60d14.4%13.6%15.6%15.6%13.8%
IV Rank24.8%4.2%59.2%16.1%57.7%
IV Percentile33.1%2.4%81.7%18.7%79.8%
Term Structure1.1%-0.8%6.0%0.1%-0.7%
VWIV13.2%11.3%14.5%13.3%11.4%
Skew 25d1.1%0.3%1.9%1.0%1.9%
Skew 10d2.6%0.9%10.4%1.8%10.4%
Call IV 25d13.9%11.7%19.1%12.7%17.6%
Put IV 25d15.0%12.0%21.1%13.7%19.6%
Bid-Ask Spread %81.5564.1688.2564.1683.98
Gamma HHI0.170.110.470.170.23
Net GEX6.3M179.3K15.0M179.3K9.9M
Net DEX-227.7M-277.2M-195.3M-215.3M-240.2M
Net VEX-842.2K-984.0K-754.6K-842.5K-942.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.920.053.431.800.41
Total Volume4,237.81,68115,8704,1182,283
Total OI45,254.7536,55450,60350,60346,743

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-03-01$205.80$200.0013.2%3.7%20.9%16.1%13.3%1.0%0.1%179.3K-215.3M-842.5K1.8064.16N/AN/A1,4712,64723,93526,668
2024-03-04$207.09$185.0013.6%3.8%20.9%19.7%13.5%1.2%0.2%2.3M-214.2M-821.6K0.7581.51N/AN/A1,6631,24822,04824,586
2024-03-05$206.33$185.0013.9%3.9%21.1%22.1%13.9%1.2%0.2%3.0M-199.3M-847.9K0.5483.78N/AN/A1,63688322,70025,017
2024-03-06$207.82$185.0013.4%3.8%21.1%18.1%13.6%1.1%0.2%3.7M-235.0M-832.6K0.4285.29N/AN/A1,18549623,05425,460
2024-03-07$207.10$185.0013.9%3.9%21.3%22.2%14.0%1.1%0.2%2.9M-217.5M-812.0K1.0084.54N/AN/A1,7121,70623,25025,659
2024-03-08$208.08$185.0013.2%3.9%21.2%15.9%14.1%1.0%0.1%5.0M-247.0M-827.8K0.5883.88N/AN/A1,38080023,39226,328
2024-03-11$208.92$185.0014.1%4.0%20.9%23.7%14.1%1.1%-0.3%7.0M-242.2M-801.9K0.2185.59N/AN/A5,9631,24221,49624,238
2024-03-12$209.93$185.0013.4%3.9%20.7%18.0%13.7%1.2%0.0%12.7M-276.9M-787.3K0.3985.72N/AN/A3,3301,29723,27924,862
2024-03-13$210.65$190.0013.2%3.9%9.8%16.2%14.0%0.5%0.9%11.1M-276.0M-808.0K0.0586.88N/AN/A15,09078022,97525,356
2024-03-14$209.87$190.0013.2%3.9%10.0%16.5%14.5%1.3%0.4%6.9M-203.5M-800.2K1.2488.25N/AN/A1,0331,28420,06825,653
2024-03-15$209.83$190.0013.2%3.8%10.1%16.1%13.5%1.2%0.3%15.0M-195.3M-829.6K1.1086.32N/AN/A1,0981,21120,26126,054
2024-03-18$211.90$190.0012.8%3.7%9.2%12.8%13.6%0.9%2.0%6.6M-226.3M-754.6K0.8876.70N/AN/A2,4842,19718,83217,722
2024-03-19$211.59$195.0012.3%3.5%9.3%8.9%12.9%1.1%3.3%5.4M-213.8M-823.1K1.8777.29N/AN/A9781,82519,45819,242
2024-03-20$211.76$195.0011.7%3.4%8.9%4.2%12.1%0.8%5.5%3.9M-216.8M-807.5K1.6479.12N/AN/A7481,22619,82920,473
2024-03-21$212.13$200.0013.3%3.5%6.9%16.7%12.3%0.8%5.5%3.9M-218.1M-859.8K1.4178.11N/AN/A7981,12520,17121,162
2024-03-22$211.83$200.0013.9%3.4%6.8%21.9%12.5%0.3%6.0%3.8M-213.4M-857.9K3.4378.58N/AN/A7012,40320,35121,869
2024-03-25$211.58$202.5018.0%3.7%6.7%55.1%13.0%1.9%-0.0%951.7K-197.4M-882.2K0.1476.93N/AN/A6,15086619,51722,134
2024-03-26$212.33$202.5018.0%3.5%6.7%55.0%12.3%1.5%-0.2%6.5M-228.4M-921.6K0.2282.49N/AN/A5,6911,24521,59422,444
2024-03-27$213.43$202.5018.5%3.2%6.8%59.2%11.3%0.8%-0.8%14.5M-277.2M-984.0K0.3381.92N/AN/A3,6821,19924,26822,947
2024-03-28$212.29$202.5018.3%3.3%6.7%57.7%11.4%1.9%-0.7%9.9M-240.2M-942.5K0.4183.98N/AN/A1,61466923,26523,478