WM Options History — February 2026 In February 2026, WM traded between $222.97 and $240.71. ATM implied volatility averaged 19.6%, placing in the 24.5% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 0.2% (HV 20d: 19.4%). Max pain ranged from $220.00 to $220.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.68.
Notable Days 2026-02-18 : Highest Volume — 4,459 contracts2026-02-20 : Largest IV drop — 9.3% change2026-02-19 : Highest IV Rank — 28.9%2026-02-19 : Largest Expected Move — 6.1%Monthly Statistics Metric Avg Min Max Open Close Price $230.89 $222.97 $240.71 $222.97 $240.71 Max Pain $220.00 $220.00 $220.00 $220.00 $220.00 ATM IV 19.6% 17.9% 21.3% 18.5% 20.6% Expected Move 5.6% 5.3% 6.1% 5.3% 5.9% HV 20d 19.4% 17.7% 20.7% 19.8% 17.7% HV 60d 16.8% 15.6% 17.4% 17.2% 17.3% IV Rank 24.5% 20.8% 28.9% 22.6% 26.9% IV Percentile 62.4% 42.1% 77.4% 54.0% 71.4% Term Structure -0.4% -1.5% 1.1% 0.3% -0.0% VWIV 19.9% 18.3% 21.6% 18.3% 21.0% Skew 25d 2.6% 1.7% 3.9% 2.1% 2.1% Skew 10d 5.2% 2.5% 7.7% 3.7% 2.5% Call IV 25d 18.7% 17.0% 19.9% 17.4% 19.6% Put IV 25d 21.3% 19.6% 22.4% 19.6% 21.7% Bid-Ask Spread % 80.16 73.07 85.72 73.86 79.64 Gamma HHI 0.27 0.19 0.52 0.21 0.24 Net GEX 12.0M 4.8M 31.2M 4.8M 14.6M Net DEX -161.3M -244.7M -85.7M -85.7M -244.7M Net VEX -1.1M -1.2M -998.1K -998.1K -1.2M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.68 0.13 3.88 0.74 0.46 Total Volume 1,587.737 721 4,459 848 2,095 Total OI 34,890.632 31,766 41,719 31,766 36,969
Daily Data (19 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 2026-02-02 $222.97 $220.00 18.5% 5.3% 19.8% 22.6% 18.3% 2.1% 0.3% 4.8M -85.7M -998.1K 0.74 73.86 N/A N/A 486 362 18,863 12,903 2026-02-03 $225.39 $220.00 18.9% 5.4% 20.1% 23.8% 19.8% 2.2% 0.5% 6.8M -110.0M -1.0M 0.98 73.62 N/A N/A 380 372 18,964 13,063 2026-02-04 $227.61 $220.00 18.6% 5.3% 20.3% 22.9% 19.7% 2.6% 0.1% 8.8M -133.3M -1.0M 0.37 77.73 N/A N/A 1,076 403 19,074 13,044 2026-02-05 $226.09 $220.00 19.2% 5.5% 19.5% 24.6% 21.6% 2.9% -0.8% 7.8M -121.5M -1.0M 3.88 79.54 N/A N/A 360 1,396 19,388 13,032 2026-02-06 $226.69 $220.00 17.9% 5.4% 19.4% 20.8% 19.6% 2.3% -1.1% 7.3M -117.2M -1.0M 0.97 73.07 N/A N/A 385 372 19,447 14,055 2026-02-09 $229.81 $220.00 18.0% 5.3% 19.4% 20.9% 19.7% 2.4% -0.5% 10.8M -147.1M -1.0M 0.84 82.43 N/A N/A 391 330 19,563 14,133 2026-02-10 $231.86 $220.00 19.0% 5.3% 18.9% 24.1% 18.6% 2.9% -0.8% 13.0M -175.6M -1.0M 0.49 83.88 N/A N/A 760 374 19,722 14,166 2026-02-11 $234.91 $220.00 19.2% 5.5% 18.7% 24.8% 19.3% 2.8% -1.5% 14.9M -203.0M -1.0M 0.37 75.88 N/A N/A 832 308 19,992 14,207 2026-02-12 $232.04 $220.00 20.1% 5.8% 19.6% 25.3% 19.7% 3.9% -1.4% 12.9M -175.3M -1.0M 0.62 85.49 N/A N/A 580 362 20,201 14,216 2026-02-13 $233.95 $220.00 19.9% 5.7% 19.6% 24.3% 19.5% 2.8% -0.6% 14.7M -197.0M -1.0M 0.61 84.12 N/A N/A 689 419 20,308 14,312 2026-02-17 $235.41 $220.00 19.3% 5.5% 19.6% 22.7% 19.8% 2.7% -1.2% 15.7M -210.6M -999.0K 0.18 83.94 N/A N/A 2,457 440 20,533 14,410 2026-02-18 $233.50 $220.00 19.7% 5.6% 20.0% 23.8% 19.5% 3.0% -0.1% 15.0M -190.1M -1.0M 0.13 83.48 N/A N/A 3,961 498 21,442 14,580 2026-02-19 $233.28 $220.00 21.3% 6.1% 19.2% 28.9% 21.0% 2.7% -1.3% 15.7M -202.1M -1.1M 0.15 75.47 N/A N/A 2,581 378 24,878 14,696 2026-02-20 $230.75 $220.00 19.3% 5.5% 19.1% 22.4% 19.4% 2.2% 1.1% 31.2M -182.3M -1.1M 0.28 79.04 N/A N/A 1,099 303 26,895 14,824 2026-02-23 $230.36 $220.00 20.9% 6.0% 19.1% 27.6% 20.7% 2.8% -0.6% 8.6M -139.8M -1.1M 0.49 83.09 N/A N/A 779 380 23,255 11,242 2026-02-24 $229.86 $220.00 20.8% 6.0% 19.0% 27.4% 20.8% 2.3% 0.3% 8.3M -138.4M -1.1M 0.37 82.99 N/A N/A 695 260 23,659 11,470 2026-02-25 $228.34 $220.00 20.3% 5.8% 19.1% 25.9% 20.7% 1.7% 0.0% 7.6M -123.9M -1.1M 0.69 85.72 N/A N/A 592 407 24,042 11,584 2026-02-26 $233.44 $220.00 20.2% 5.8% 20.7% 25.5% 19.8% 2.2% -0.1% 10.5M -166.5M -1.1M 0.25 80.01 N/A N/A 2,081 524 24,101 11,689 2026-02-27 $240.71 $220.00 20.6% 5.9% 17.7% 26.9% 21.0% 2.1% -0.0% 14.6M -244.7M -1.2M 0.46 79.64 N/A N/A 1,436 659 25,060 11,909
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