WM Options History — March 2025

In March 2025, WM traded between $223.56 and $232.76. ATM implied volatility averaged 17.9%, placing in the 14.2% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 5.4% (HV 20d: 12.5%). Max pain ranged from $210.00 to $230.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 0.69.

Notable Days

  • 2025-03-31: Highest Volume — 4,071 contracts
  • 2025-03-10: Largest IV spike — 20.7% change
  • 2025-03-10: Highest IV Rank — 23.2%
  • 2025-03-11: Largest Expected Move — 6.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$227.61$223.56$232.76$232.76$231.81
Max Pain$220.00$210.00$230.00$220.00$230.00
ATM IV17.9%15.1%22.0%20.7%16.8%
Expected Move5.6%5.0%6.8%5.9%5.8%
HV 20d12.5%7.6%15.8%8.6%15.8%
HV 60d15.8%15.6%16.2%15.7%15.8%
IV Rank14.2%8.2%23.2%20.2%11.8%
IV Percentile54.1%22.2%90.1%82.9%42.5%
Term Structure1.7%-1.5%3.7%-1.5%3.6%
VWIV20.4%18.0%23.2%20.2%20.4%
Skew 25d2.6%1.9%3.1%2.7%2.8%
Skew 10d6.0%4.0%7.9%5.2%4.0%
Call IV 25d16.9%15.0%19.4%19.2%15.7%
Put IV 25d19.4%17.4%22.1%21.9%18.5%
Bid-Ask Spread %77.4663.4894.6880.1472.98
Gamma HHI0.240.180.330.260.25
Net GEX6.9M2.9M10.4M8.6M10.4M
Net DEX-137.9M-194.8M-91.9M-184.1M-194.8M
Net VEX-1.3M-1.3M-1.2M-1.2M-1.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.690.071.970.780.07
Total Volume1,167.7623574,0711,2464,071
Total OI36,217.33334,11437,94434,36137,944

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$232.76$220.0020.7%5.9%8.6%20.2%20.2%2.7%-1.5%8.6M-184.1M-1.2M0.7880.14N/AN/A70054618,19016,171
2025-03-04$231.47$220.0018.2%5.2%8.1%14.9%18.0%2.9%-0.5%8.4M-168.7M-1.2M0.4583.44N/AN/A78135518,16916,260
2025-03-05$230.46$220.0017.6%5.0%7.6%13.5%18.3%2.2%1.3%8.3M-159.0M-1.2M0.1578.16N/AN/A1,54123518,31716,425
2025-03-06$226.30$220.0018.5%5.3%9.6%15.5%19.6%2.6%1.2%5.7M-124.2M-1.3M1.1481.22N/AN/A59567819,57616,498
2025-03-07$229.04$220.0018.2%5.2%10.4%15.0%19.6%1.9%1.3%7.6M-155.4M-1.3M0.8784.67N/AN/A33529219,62616,650
2025-03-10$228.53$220.0022.0%6.3%10.4%23.2%22.3%2.6%0.3%6.5M-141.4M-1.3M0.5685.83N/AN/A90950719,59816,776
2025-03-11$224.92$220.0020.8%6.8%12.0%20.6%23.2%3.1%0.4%4.2M-107.1M-1.3M1.9784.63N/AN/A19638619,64616,979
2025-03-12$223.59$220.0019.8%6.2%12.1%18.4%21.1%2.8%0.7%3.1M-91.9M-1.3M0.6081.64N/AN/A48129019,70616,956
2025-03-13$223.56$220.0020.0%6.1%11.9%18.7%22.2%2.8%0.8%2.9M-92.7M-1.3M1.0382.92N/AN/A90193019,83817,084
2025-03-14$224.24$230.0019.0%5.7%12.0%16.6%18.5%2.8%1.4%4.3M-105.8M-1.3M0.5679.92N/AN/A63035319,70617,324
2025-03-17$228.25$210.0017.1%5.5%13.6%12.5%20.8%2.5%2.1%9.3M-148.1M-1.3M0.9663.48N/AN/A37535920,18817,536
2025-03-18$225.97$210.0017.9%5.5%14.0%14.1%20.2%2.6%1.3%6.8M-123.2M-1.3M0.7865.94N/AN/A20916220,23017,505
2025-03-19$227.61$210.0016.7%5.4%14.2%11.5%21.1%2.3%2.1%9.6M-140.8M-1.3M0.3867.26N/AN/A2599820,23217,519
2025-03-20$226.94$0.0016.4%5.1%14.1%10.9%18.0%2.4%1.8%8.2M-134.2M-1.2M0.4594.68N/AN/A26712020,25817,538
2025-03-21$224.55$220.0017.5%5.8%14.5%13.4%22.3%2.4%2.8%4.1M-112.2M-1.2M0.4672.81N/AN/A53724620,33917,387
2025-03-24$226.22$220.0015.4%5.4%14.5%8.7%21.5%2.6%3.6%5.8M-119.2M-1.2M0.9071.69N/AN/A49944717,86816,246
2025-03-25$227.17$220.0015.1%5.4%14.5%8.2%20.0%2.4%3.7%6.9M-130.1M-1.2M0.7175.46N/AN/A32423118,14816,631
2025-03-26$229.18$220.0015.9%5.5%14.8%9.8%19.6%2.8%3.2%8.0M-155.3M-1.2M1.1574.44N/AN/A35440718,28316,705
2025-03-27$229.31$220.0015.6%5.6%14.8%9.2%20.3%2.5%3.7%8.1M-158.9M-1.2M0.5675.11N/AN/A47426418,35516,717
2025-03-28$227.99$230.0016.7%5.7%14.6%11.6%20.9%1.9%3.3%7.2M-148.3M-1.2M0.0770.22N/AN/A2,97220718,65616,784
2025-03-31$231.81$230.0016.8%5.8%15.8%11.8%20.4%2.8%3.6%10.4M-194.8M-1.3M0.0772.98N/AN/A3,81625521,13616,808