WM Options History — January 2026 In January 2026, WM traded between $216.60 and $231.41. ATM implied volatility averaged 20.5%, placing in the 28.9% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 5.9% (HV 20d: 14.6%). Max pain ranged from $210.00 to $220.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 0.77.
Notable Days 2026-01-28 : Highest Volume — 5,852 contracts2026-01-29 : Largest IV drop — 23.4% change2026-01-20 : Highest IV Rank — 40.5%2026-01-20 : Largest Expected Move — 6.9%Monthly Statistics Metric Avg Min Max Open Close Price $222.41 $216.60 $231.41 $217.94 $221.53 Max Pain $218.50 $210.00 $220.00 $210.00 $220.00 ATM IV 20.5% 15.6% 24.2% 15.6% 18.3% Expected Move 6.1% 4.5% 6.9% 4.5% 5.2% HV 20d 14.6% 13.1% 20.5% 14.0% 20.1% HV 60d 19.2% 16.0% 20.2% 20.0% 17.5% IV Rank 28.9% 13.2% 40.5% 13.2% 21.8% IV Percentile 64.0% 8.7% 91.3% 8.7% 50.4% Term Structure -1.0% -2.8% 4.8% 4.8% 0.4% VWIV 21.9% 16.8% 24.8% 16.8% 18.2% Skew 25d 2.2% 0.8% 3.3% 0.8% 2.4% Skew 10d 4.8% 2.0% 6.7% 2.5% 4.2% Call IV 25d 20.8% 16.3% 23.2% 16.3% 17.3% Put IV 25d 23.0% 17.1% 25.7% 17.1% 19.7% Bid-Ask Spread % 74.42 66.27 82.51 74.35 77.06 Gamma HHI 0.23 0.19 0.35 0.21 0.20 Net GEX 6.9M 3.4M 15.0M 5.9M 3.5M Net DEX -109.7M -163.3M -70.5M -86.7M -70.5M Net VEX -994.5K -1.1M -946.5K -971.5K -972.3K Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.77 0.25 2.23 2.23 0.59 Total Volume 2,130.65 885 5,852 1,093 1,900 Total OI 36,468.5 27,252 45,396 39,831 31,275
Daily Data (20 trading days) Date Price Max Pain ATM IV Exp Move HV 20d IV Rank VWIV Skew 25d Term Str GEX DEX VEX P/C Spread % Call Wall Put Wall Call Vol Put Vol Call OI Put OI 2026-01-02 $217.94 $210.00 15.6% 4.5% 14.0% 13.2% 16.8% 0.8% 4.8% 5.9M -86.7M -971.5K 2.23 74.35 N/A N/A 338 755 25,528 14,303 2026-01-05 $219.32 $210.00 17.5% 6.0% 13.5% 19.2% 21.5% 2.3% -1.7% 6.2M -94.7M -961.7K 0.68 79.18 N/A N/A 833 563 25,554 14,648 2026-01-06 $219.93 $210.00 15.9% 5.7% 13.5% 14.2% 20.8% 0.8% 0.3% 6.7M -103.3M -955.5K 0.52 79.40 N/A N/A 972 503 25,759 14,754 2026-01-07 $216.60 $220.00 18.0% 5.8% 13.5% 20.8% 21.2% 2.8% -0.9% 4.7M -71.7M -950.2K 0.78 80.83 N/A N/A 933 732 25,775 14,928 2026-01-08 $218.25 $220.00 18.3% 6.0% 13.5% 21.9% 21.5% 1.2% -1.3% 6.1M -92.4M -964.9K 0.58 76.42 N/A N/A 628 366 26,242 15,218 2026-01-09 $221.24 $220.00 17.0% 5.8% 14.1% 17.7% 20.9% 2.0% -0.9% 7.4M -121.5M -978.9K 0.30 73.01 N/A N/A 1,038 312 26,270 15,379 2026-01-12 $218.71 $220.00 20.2% 6.1% 14.7% 27.8% 22.1% 2.1% -1.3% 6.8M -97.6M -950.0K 0.92 75.95 N/A N/A 812 744 26,587 15,415 2026-01-13 $216.79 $220.00 21.8% 6.3% 13.6% 32.9% 22.3% 1.9% -1.8% 5.7M -74.0M -946.5K 0.96 70.97 N/A N/A 1,338 1,291 26,796 15,600 2026-01-14 $217.85 $220.00 21.9% 6.3% 13.1% 33.3% 22.1% 2.5% -1.5% 7.2M -86.6M -991.5K 0.75 82.51 N/A N/A 1,190 889 27,492 16,506 2026-01-15 $219.16 $220.00 21.9% 6.3% 13.1% 33.3% 22.0% 2.6% -1.4% 10.1M -104.5M -1.0M 0.42 75.38 N/A N/A 623 262 28,151 17,156 2026-01-16 $220.87 $220.00 22.2% 6.4% 13.4% 34.3% 22.1% 2.3% -1.4% 15.0M -140.1M -1.0M 0.43 72.25 N/A N/A 1,203 522 28,154 17,242 2026-01-20 $221.41 $220.00 24.2% 6.9% 13.3% 40.5% 24.0% 3.0% -2.4% 4.6M -91.3M -1.0M 0.68 69.04 N/A N/A 801 548 16,372 10,880 2026-01-21 $225.47 $220.00 22.8% 6.5% 14.4% 36.1% 23.8% 3.3% -2.3% 6.2M -119.2M -1.0M 0.25 74.21 N/A N/A 1,648 404 16,821 11,077 2026-01-22 $228.63 $220.00 22.6% 6.5% 14.8% 35.4% 23.5% 2.4% -1.8% 7.3M -146.9M -1.0M 0.42 70.56 N/A N/A 1,674 709 17,058 11,291 2026-01-23 $229.08 $220.00 23.6% 6.8% 14.8% 38.5% 24.1% 3.2% -2.5% 7.1M -142.6M -1.0M 0.91 73.48 N/A N/A 2,125 1,940 16,846 11,108 2026-01-26 $230.50 $220.00 23.2% 6.6% 14.8% 37.2% 24.6% 1.5% -2.8% 7.7M -150.2M -1.0M 0.87 75.54 N/A N/A 1,127 981 17,432 11,905 2026-01-27 $231.41 $220.00 23.6% 6.8% 14.8% 38.8% 23.7% 2.4% -1.4% 8.4M -161.3M -1.0M 0.47 72.56 N/A N/A 870 412 17,974 12,469 2026-01-28 $231.17 $220.00 23.6% 6.8% 14.6% 38.8% 24.8% 2.5% -1.0% 8.5M -163.3M -1.1M 1.46 69.34 N/A N/A 2,383 3,469 18,150 12,541 2026-01-29 $222.41 $220.00 18.1% 5.2% 20.5% 21.3% 18.3% 2.4% 0.4% 3.4M -75.9M -997.8K 1.18 66.27 N/A N/A 2,195 2,580 18,876 13,838 2026-01-30 $221.53 $220.00 18.3% 5.2% 20.1% 21.8% 18.2% 2.4% 0.4% 3.5M -70.5M -972.3K 0.59 77.06 N/A N/A 1,192 708 18,531 12,744
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