WM Options History — August 2025

In August 2025, WM traded between $223.82 and $236.99. ATM implied volatility averaged 16.2%, placing in the 10.4% IV rank vs the trailing year. The 30-day expected move averaged 4.6%. IV traded below realized volatility by 1.1% (HV 20d: 17.3%). 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 16 of 21 days. Put/call ratio averaged 0.57.

Notable Days

  • 2025-08-18: Highest Volume — 4,379 contracts
  • 2025-08-11: Largest IV spike — 25.9% change
  • 2025-08-01: Highest IV Rank — 14.5%
  • 2025-08-01: Largest Expected Move — 5.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$228.91$223.82$236.99$228.83$225.79
Max Pain$227.14$220.00$230.00$230.00$230.00
ATM IV16.2%13.1%18.0%18.0%15.2%
Expected Move4.6%4.2%5.2%5.2%4.4%
HV 20d17.3%15.7%19.8%15.9%15.9%
HV 60d15.8%15.1%17.0%16.9%15.9%
IV Rank10.4%3.8%14.5%14.5%8.4%
IV Percentile25.2%1.2%50.4%50.4%7.5%
Term Structure0.3%-0.4%1.3%-0.0%1.3%
VWIV16.3%15.1%18.8%18.8%15.4%
Skew 25d2.2%1.4%2.9%1.6%1.4%
Skew 10d4.3%2.1%8.0%4.3%3.2%
Call IV 25d15.4%14.3%18.2%18.2%15.3%
Put IV 25d17.5%16.7%19.8%19.8%16.7%
Bid-Ask Spread %80.8070.5185.5170.5182.50
Gamma HHI0.240.150.460.240.19
Net GEX11.6M-1.9M28.3M14.4M2.0M
Net DEX-100.2M-230.6M-14.1M-116.8M-37.9M
Net VEX-1.1M-1.2M-996.1K-1.2M-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.101.470.700.25
Total Volume1,835.197044,3791,008911
Total OI41,292.95234,72446,28043,25646,280

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$228.83$230.0018.0%5.2%15.9%14.5%18.8%1.6%-0.0%14.4M-116.8M-1.2M0.7070.51N/AN/A59441427,82615,430
2025-08-04$230.30$220.0017.0%4.8%16.0%12.3%17.2%2.3%0.1%17.3M-133.6M-1.2M0.3580.77N/AN/A1,19141828,07615,455
2025-08-05$229.87$220.0016.7%4.7%16.0%11.7%16.1%2.8%0.1%17.1M-125.1M-1.2M0.7983.70N/AN/A1,19694528,59915,561
2025-08-06$232.30$220.0016.3%4.7%16.3%10.8%15.6%2.9%-0.2%19.6M-159.7M-1.2M0.3184.96N/AN/A60118627,88215,512
2025-08-07$233.16$220.0016.6%4.8%16.3%11.3%16.6%2.4%-0.2%21.2M-175.4M-1.2M0.8485.51N/AN/A38232228,20815,484
2025-08-08$235.03$220.0013.1%4.2%16.4%3.8%15.1%2.6%0.6%23.8M-197.5M-1.2M0.6881.50N/AN/A54237128,30515,401
2025-08-11$236.99$220.0016.5%4.3%16.1%11.2%16.3%2.5%0.5%28.3M-230.6M-1.1M0.9684.13N/AN/A53150828,32615,309
2025-08-12$232.90$230.0017.7%4.6%17.0%13.7%15.6%2.7%0.2%19.3M-171.2M-1.1M0.5077.13N/AN/A1,06653328,32915,416
2025-08-13$229.63$230.0016.0%4.6%17.7%10.0%16.1%2.4%0.4%21.8M-121.4M-1.1M0.2180.95N/AN/A1,45430728,34715,470
2025-08-14$226.68$230.0015.5%4.5%18.4%9.1%16.0%1.8%0.5%12.6M-74.9M-1.0M0.2183.16N/AN/A1,60933928,86015,560
2025-08-15$226.55$230.0015.4%4.4%18.1%8.8%15.5%2.0%0.3%5.5M-63.9M-1.0M0.3774.69N/AN/A1,00737229,63615,724
2025-08-18$224.51$230.0016.7%4.8%18.2%11.5%16.0%2.0%-0.4%4.6M-59.6M-1.0M0.1779.15N/AN/A3,73464523,17411,907
2025-08-19$228.08$230.0015.9%4.6%19.0%9.8%15.7%1.8%0.1%6.4M-71.9M-996.1K0.2782.45N/AN/A1,13130722,45912,265
2025-08-20$230.47$230.0015.8%4.5%19.2%9.7%15.8%2.4%0.1%8.4M-94.8M-1.1M0.3082.60N/AN/A96929222,84212,445
2025-08-21$229.73$230.0016.5%4.7%18.9%11.1%16.1%2.5%0.0%7.8M-88.6M-1.0M0.6581.41N/AN/A74548523,04712,566
2025-08-22$227.12$230.0015.4%4.4%19.3%8.7%16.0%1.9%0.6%5.9M-60.7M-997.3K0.6181.35N/AN/A1,07265723,02612,545
2025-08-25$223.82$230.0017.1%4.9%19.8%12.5%17.4%2.0%-0.2%3.8M-30.7M-1.0M0.9479.53N/AN/A1,4751,38023,61613,125
2025-08-26$225.34$230.0015.8%4.5%16.3%9.6%18.2%1.8%0.5%3.9M-41.3M-1.0M1.4778.59N/AN/A1,7532,57024,44014,230
2025-08-27$225.84$230.0015.6%4.5%16.1%9.2%17.9%1.5%0.7%1.6M-34.8M-1.1M1.3979.37N/AN/A9561,32725,56716,762
2025-08-28$224.15$230.0016.2%4.6%15.7%10.5%15.3%1.9%0.4%-1.9M-14.1M-1.1M0.1082.83N/AN/A2,95129126,15717,983
2025-08-29$225.79$230.0015.2%4.4%15.9%8.4%15.4%1.4%1.3%2.0M-37.9M-1.1M0.2582.50N/AN/A73018128,18118,099