WM Options History — January 2025

In January 2025, WM traded between $200.64 and $220.68. ATM implied volatility averaged 19.6%, placing in the 17.3% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 6.7% (HV 20d: 13.0%). Max pain ranged from $200.00 to $210.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 1.16.

Notable Days

  • 2025-01-30: Highest Volume — 8,382 contracts
  • 2025-01-10: Largest IV spike — 42.7% change
  • 2025-01-27: Highest IV Rank — 28.9%
  • 2025-01-27: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$209.36$200.64$220.68$200.64$220.68
Max Pain$205.00$200.00$210.00$200.00$210.00
ATM IV19.6%12.7%24.9%17.5%15.8%
Expected Move5.9%4.3%7.1%5.0%4.5%
HV 20d13.0%10.3%20.8%10.3%20.5%
HV 60d17.3%14.8%17.9%17.9%17.7%
IV Rank17.3%2.2%28.9%12.8%9.0%
IV Percentile71.5%2.4%97.2%56.7%37.7%
Term Structure-1.5%-3.8%4.2%3.8%0.3%
VWIV21.0%15.6%26.6%18.6%15.9%
Skew 25d2.1%1.0%2.7%2.0%1.8%
Skew 10d4.3%2.6%6.0%3.0%2.9%
Call IV 25d19.9%14.7%23.7%17.1%15.1%
Put IV 25d22.0%16.6%26.2%19.2%16.9%
Bid-Ask Spread %66.9457.6575.4970.8375.49
Gamma HHI0.270.160.670.170.19
Net GEX4.7M-4.2M21.4M1.5M5.0M
Net DEX-56.8M-138.8M-7.5M-12.5M-95.1M
Net VEX-760.0K-939.1K-690.7K-690.7K-851.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.160.236.522.700.54
Total Volume2,642.358328,3822,4371,362
Total OI33,597.3519,62339,68936,49134,459

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-01-02$200.64$200.0017.5%5.0%10.3%12.8%18.6%2.0%3.8%1.5M-12.5M-690.7K2.7070.83N/AN/A6591,77823,24613,245
2025-01-03$201.64$200.0016.8%4.8%10.8%11.2%15.6%1.0%4.2%1.8M-20.3M-691.7K1.0261.60N/AN/A80181823,58513,325
2025-01-06$201.47$200.0018.5%6.1%10.9%14.9%21.4%2.2%-2.0%1.4M-17.4M-692.2K0.3366.70N/AN/A1,43147423,78913,607
2025-01-07$202.47$200.0018.6%6.3%11.4%15.1%21.8%2.0%-1.8%2.7M-27.7M-702.3K0.2766.27N/AN/A1,08329324,44913,801
2025-01-08$206.59$200.0012.7%6.0%12.9%2.2%21.2%2.1%-1.4%7.7M-67.7M-740.9K0.3264.75N/AN/A1,23539724,85313,948
2025-01-10$206.91$200.0018.2%6.2%13.0%14.1%21.6%2.1%-1.9%7.6M-68.9M-741.0K0.2368.37N/AN/A2,09847224,64014,026
2025-01-13$206.83$200.0020.4%6.1%12.7%19.1%21.5%1.8%-2.1%8.7M-68.2M-725.2K0.2565.62N/AN/A95023524,91614,020
2025-01-14$206.94$200.0019.0%5.9%12.6%16.0%20.6%2.3%-1.7%9.4M-66.8M-710.2K0.4269.60N/AN/A1,27753825,11314,060
2025-01-15$208.31$200.0020.1%5.7%12.9%18.3%20.3%2.3%-1.9%13.8M-78.8M-705.0K0.5666.52N/AN/A97754325,10014,244
2025-01-16$210.92$200.0020.3%5.8%13.4%19.0%20.4%2.0%-2.0%21.4M-125.7M-710.6K0.9864.01N/AN/A1,9631,93025,27614,413
2025-01-17$212.25$210.0020.2%5.8%12.6%18.7%20.6%2.6%-2.0%2.9M-138.8M-716.6K0.4769.40N/AN/A1,42367224,96914,659
2025-01-21$212.82$210.0021.0%6.0%11.2%20.4%21.0%2.5%-2.5%2.4M-48.3M-708.9K1.3471.69N/AN/A1,0221,37410,5979,026
2025-01-22$212.05$210.0021.5%6.2%11.4%21.6%21.7%2.4%-2.7%2.1M-43.8M-761.1K0.3366.15N/AN/A1,26741311,26310,290
2025-01-23$209.90$210.0021.6%6.2%12.1%21.7%22.5%2.4%-2.7%1.7M-30.4M-780.6K0.7266.62N/AN/A48334912,03510,636
2025-01-24$209.41$210.0021.7%6.2%11.2%21.9%23.9%2.1%-2.7%1.6M-29.8M-789.2K2.8466.08N/AN/A4681,32812,24110,873
2025-01-27$212.89$210.0024.9%7.1%12.4%28.9%26.6%2.7%-3.8%2.2M-48.0M-813.0K6.5267.59N/AN/A1,0867,08112,39412,027
2025-01-28$213.66$210.0024.0%6.9%12.4%27.0%24.3%2.3%-3.6%-1.1M-38.1M-876.8K1.5364.44N/AN/A1,0491,61012,80419,417
2025-01-29$210.31$210.0024.4%7.0%13.5%27.9%25.0%1.9%-3.8%-4.2M-7.5M-939.1K0.6357.65N/AN/A2,1571,36913,29420,773
2025-01-30$220.45$210.0014.9%4.3%20.8%7.0%16.5%2.0%0.9%6.1M-102.0M-852.6K1.2869.41N/AN/A3,6694,71314,62821,906
2025-01-31$220.68$210.0015.8%4.5%20.5%9.0%15.9%1.8%0.3%5.0M-95.1M-851.5K0.5475.49N/AN/A88248013,96520,494