WM Options History — April 2025

In April 2025, WM traded between $214.24 and $236.92. ATM implied volatility averaged 25.8%, placing in the 31.5% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded below realized volatility by 1.2% (HV 20d: 27.0%). Max pain ranged from $220.00 to $230.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.90.

Notable Days

  • 2025-04-29: Highest Volume — 8,477 contracts
  • 2025-04-07: Largest IV spike — 57.8% change
  • 2025-04-07: Highest IV Rank — 69.0%
  • 2025-04-08: Largest Expected Move — 9.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$228.46$214.24$236.92$233.51$231.70
Max Pain$228.10$220.00$230.00$230.00$230.00
ATM IV25.8%17.2%43.0%17.2%20.4%
Expected Move7.2%5.6%9.6%5.9%5.8%
HV 20d27.0%14.5%31.3%15.9%30.8%
HV 60d20.5%15.8%22.7%15.8%20.2%
IV Rank31.5%12.6%69.0%12.6%19.6%
IV Percentile87.3%46.4%99.2%46.4%77.4%
Term Structure-2.6%-5.8%3.2%3.2%-0.7%
VWIV26.0%19.0%34.4%20.3%19.5%
Skew 25d5.7%2.9%10.1%2.9%5.1%
Skew 10d12.5%4.8%19.4%4.8%9.9%
Call IV 25d22.4%15.1%29.1%15.1%17.5%
Put IV 25d28.0%18.0%36.4%18.0%22.6%
Bid-Ask Spread %70.4141.9483.5876.0660.46
Gamma HHI0.220.130.380.300.38
Net GEX8.7M-266.1K19.0M15.5M14.8M
Net DEX-152.3M-272.5M-9.2M-221.6M-180.8M
Net VEX-1.4M-1.4M-1.3M-1.3M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.900.292.450.480.31
Total Volume2,121.1436588,4778182,033
Total OI39,622.42931,22645,12740,05342,004

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$233.51$230.0017.2%5.9%15.9%12.6%20.3%2.9%3.2%15.5M-221.6M-1.3M0.4876.06N/AN/A55426423,22316,830
2025-04-02$234.27$230.0017.7%5.9%15.8%13.7%20.6%3.1%-2.0%17.1M-232.8M-1.3M0.7879.25N/AN/A67252123,81816,901
2025-04-03$236.92$230.0017.9%6.2%14.5%14.3%22.7%3.9%-1.8%19.0M-272.5M-1.4M0.7975.76N/AN/A1,07384824,32617,041
2025-04-04$227.84$230.0027.2%7.4%20.2%34.6%25.3%5.2%-1.4%8.7M-147.2M-1.4M1.5268.01N/AN/A1,0761,63524,46417,209
2025-04-07$220.36$230.0043.0%8.7%23.4%69.0%29.9%4.5%-3.2%3.3M-66.0M-1.4M1.5474.15N/AN/A9871,52024,75817,563
2025-04-08$214.24$230.0041.2%9.6%24.7%65.2%30.5%9.5%-3.9%-266.1K-9.2M-1.3M0.3967.62N/AN/A1,22447925,01317,253
2025-04-09$222.43$230.0025.5%7.3%28.4%30.9%28.7%5.0%-2.2%3.6M-87.5M-1.3M1.7077.07N/AN/A56495925,17017,202
2025-04-10$224.78$230.0031.1%8.9%28.7%43.1%34.4%10.1%-5.2%5.4M-110.7M-1.4M2.4583.58N/AN/A35787325,35317,356
2025-04-11$229.38$220.0027.5%7.9%29.5%35.1%32.9%7.6%-2.3%9.8M-166.6M-1.4M1.1365.71N/AN/A49355725,39317,705
2025-04-14$232.90$220.0024.5%7.0%29.4%28.6%24.8%5.3%-2.2%14.0M-216.8M-1.3M0.2981.28N/AN/A1,75251025,49017,868
2025-04-15$231.56$220.0023.8%6.8%29.2%27.0%25.6%5.7%-2.2%9.9M-191.5M-1.3M0.6471.30N/AN/A1,02865825,63718,137
2025-04-16$229.03$220.0024.7%7.1%29.4%29.0%23.6%6.4%-2.4%10.3M-157.0M-1.4M0.4676.47N/AN/A1,21456426,10218,385
2025-04-17$231.66$230.0024.0%6.9%29.6%27.6%24.0%5.2%-2.0%10.4M-211.3M-1.4M0.7074.27N/AN/A1,31592726,52718,600
2025-04-21$226.34$230.0026.6%7.6%30.6%33.2%27.2%6.3%-3.1%5.6M-123.5M-1.3M0.3069.10N/AN/A95328519,55311,673
2025-04-22$230.32$230.0025.4%7.3%31.1%30.6%26.7%5.6%-3.0%6.8M-150.2M-1.4M1.2670.73N/AN/A60576020,14211,992
2025-04-23$228.14$230.0027.0%7.7%31.3%34.0%27.9%5.5%-5.1%5.7M-131.3M-1.4M0.9271.71N/AN/A46943020,31412,563
2025-04-24$227.59$230.0025.0%7.2%31.2%29.8%26.8%5.8%-3.7%5.5M-127.9M-1.4M1.2172.52N/AN/A29836020,51912,860
2025-04-25$227.58$230.0025.0%7.2%31.2%29.8%25.3%6.1%-4.4%5.5M-123.4M-1.4M0.6664.88N/AN/A61740820,59513,149
2025-04-28$228.59$230.0027.9%8.0%31.1%36.2%29.5%5.7%-5.8%5.7M-131.0M-1.4M0.9941.94N/AN/A3,1353,09020,85213,513
2025-04-29$228.54$230.0019.7%5.6%30.5%18.1%19.0%4.4%-0.6%7.0M-138.7M-1.4M0.3456.74N/AN/A6,3262,15123,36715,651
2025-04-30$231.70$230.0020.4%5.8%30.8%19.6%19.5%5.1%-0.7%14.8M-180.8M-1.4M0.3160.46N/AN/A1,54948426,83015,174