WM Options History — February 2025

In February 2025, WM traded between $221.93 and $231.85. ATM implied volatility averaged 16.2%, placing in the 10.4% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded below realized volatility by 3.3% (HV 20d: 19.6%). Max pain ranged from $210.00 to $220.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.95.

Notable Days

  • 2025-02-04: Highest Volume — 4,772 contracts
  • 2025-02-11: Largest IV spike — 30.0% change
  • 2025-02-27: Highest IV Rank — 16.2%
  • 2025-02-27: Largest Expected Move — 5.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$227.26$221.93$231.85$223.73$231.85
Max Pain$216.84$210.00$220.00$210.00$220.00
ATM IV16.2%11.4%18.8%17.3%18.6%
Expected Move4.7%4.4%5.4%5.0%5.3%
HV 20d19.6%8.6%21.2%20.5%8.6%
HV 60d16.9%16.0%17.9%17.9%16.1%
IV Rank10.4%0.0%16.2%12.2%15.7%
IV Percentile43.1%0.0%70.2%49.6%67.1%
Term Structure0.0%-0.8%0.6%-0.3%-0.8%
VWIV16.9%15.7%19.3%16.6%18.6%
Skew 25d2.3%1.8%3.1%2.4%3.1%
Skew 10d5.3%2.2%7.2%2.8%5.8%
Call IV 25d15.7%14.6%17.9%15.6%16.9%
Put IV 25d18.0%16.5%20.6%18.0%20.1%
Bid-Ask Spread %78.1470.2983.5370.2978.43
Gamma HHI0.290.190.500.210.26
Net GEX8.3M5.4M13.2M6.8M8.6M
Net DEX-159.7M-187.2M-103.1M-118.8M-172.3M
Net VEX-1.1M-1.3M-842.4K-842.4K-1.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.950.183.991.251.39
Total Volume1,374.0533564,7723,671620
Total OI39,317.47431,26944,31834,75533,994

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$223.73$210.0017.3%5.0%20.5%12.2%16.6%2.4%-0.3%6.8M-118.8M-842.4K1.2570.29N/AN/A1,6312,04014,04220,713
2025-02-04$221.93$210.0015.9%4.6%21.1%9.1%15.8%2.0%0.6%5.4M-103.1M-883.8K0.2478.32N/AN/A3,85791514,22621,880
2025-02-05$224.59$210.0016.2%4.7%21.1%9.9%15.7%1.9%0.3%8.1M-158.9M-1.1M0.5380.12N/AN/A86145417,12822,452
2025-02-06$224.40$210.0015.8%4.7%21.2%8.9%16.3%2.2%-0.1%8.3M-156.6M-1.1M3.9979.98N/AN/A5012,00117,48622,722
2025-02-07$224.94$210.0016.2%4.8%20.5%9.7%16.2%2.1%-0.2%7.2M-150.8M-1.2M1.6977.21N/AN/A31953817,71824,323
2025-02-10$225.68$210.0011.4%4.4%20.5%0.0%16.5%2.5%0.6%7.7M-158.6M-1.1M1.0277.88N/AN/A33334017,74324,735
2025-02-11$226.19$220.0014.8%4.4%20.4%7.5%16.9%2.0%0.2%7.9M-164.7M-1.1M0.4776.47N/AN/A24211417,80824,942
2025-02-12$227.37$220.0015.4%4.4%20.4%8.7%16.8%2.1%0.6%8.2M-175.4M-1.1M0.3678.88N/AN/A56620317,83724,993
2025-02-13$227.05$220.0015.7%4.5%20.4%9.5%16.3%2.1%0.2%8.2M-167.6M-1.2M1.0982.24N/AN/A40944517,85225,077
2025-02-14$227.80$220.0015.8%4.5%20.2%9.6%16.6%1.8%0.4%8.7M-173.4M-1.2M0.5879.84N/AN/A50529417,96025,227
2025-02-18$228.38$220.0015.8%4.5%20.2%9.7%16.3%1.9%0.5%9.9M-182.6M-1.1M0.4478.70N/AN/A81035618,08725,349
2025-02-19$227.75$220.0015.5%4.4%20.3%8.9%17.2%1.8%0.5%9.8M-168.3M-1.1M0.6372.98N/AN/A87855218,06725,533
2025-02-20$229.14$220.0015.6%4.5%20.2%9.2%16.6%2.1%0.4%13.2M-187.2M-1.1M1.3083.17N/AN/A31841518,39025,711
2025-02-21$227.97$220.0016.7%4.8%19.8%11.5%17.8%2.4%-0.0%10.0M-168.5M-1.1M0.4583.53N/AN/A71432418,48625,832
2025-02-24$229.69$220.0017.1%4.9%19.7%12.5%16.4%2.7%-0.4%6.5M-158.0M-1.1M0.2276.93N/AN/A1,64935816,05715,212
2025-02-25$230.23$220.0017.8%5.1%19.2%14.0%17.5%2.8%-0.6%8.2M-164.0M-1.1M0.8575.58N/AN/A64354917,29915,371
2025-02-26$229.32$220.0018.2%5.2%19.4%14.8%18.7%2.5%-0.6%7.4M-151.2M-1.2M1.3275.01N/AN/A22229317,56915,755
2025-02-27$229.91$220.0018.8%5.4%18.0%16.2%19.3%2.7%-0.5%7.5M-155.0M-1.2M0.1878.99N/AN/A70912917,59015,866
2025-02-28$231.85$220.0018.6%5.3%8.6%15.7%18.6%3.1%-0.8%8.6M-172.3M-1.3M1.3978.43N/AN/A25936118,08315,911