Western Alliance Bancorporation (WAL) Options Chain

NYSE: WALFinanceMajor BanksUSD

74.27-1.23 (-1.63%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Jan 15, 2027
Days to expiration: 96
Share price: $74.27
Put/call ratio (OI): 1.19
Put/call ratio (volume): 0.95
ATM implied volatility: 38.1%
Expected move: ±$14.52
Open interest (C / P): 5.84K / 6.92K

WAL options summary

The WAL options chain for the January 15, 2027 expiration lists 30 call and 32 put contracts, with 96 days until expiration. Open interest stands at 5,838 calls and 6,919 puts, a put/call ratio of 1.19, which is fairly balanced between calls and puts. At-the-money implied volatility near the $75.00 strike is 38.1%, which implies the market expects a move of about ±$14.52 (19.6%) in Western Alliance Bancorporation stock by expiration.

The most open interest sits at the $97.50 call (2.19K contracts) and the $30.00 put (5.25K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

WAL options chain · January 15, 2027

WAL calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
—	—	—	—	—	—	30.00	0.00	0.25	0.05	83.4%	1	5,252
—	—	—	—	—	—	32.50	0.00	0.40	0.10	82.3%	1	80
2	—	—	56.00	32.50	37.00	35.00	0.00	0.00	0.35	25.0%	1	0
1	—	160.7%	41.35	40.50	42.60	37.50	—	—	—	—	—	—
—	—	—	—	—	—	40.00	0.00	0.50	0.20	66.0%	5	32
—	—	—	—	—	—	42.50	2.05	3.80	0.98	113.8%	—	12
0	1	—	38.50	0.00	0.00	45.00	0.05	0.50	0.18	55.9%	2	37
—	—	—	—	—	—	47.50	0.05	0.55	0.17	51.6%	15	11
14	1	114.0%	34.70	28.20	30.80	50.00	0.00	0.00	0.45	12.5%	15	0
—	—	—	—	—	—	52.50	0.00	0.00	2.40	12.5%	11	0
4	1	99.2%	27.65	23.50	26.10	55.00	1.30	2.30	2.16	60.9%	2	2
—	—	—	—	—	—	57.50	1.55	2.10	3.20	54.8%	7	8
64	1	57.6%	18.50	15.10	17.00	60.00	0.75	1.50	0.95	45.1%	4	144
7	3	95.3%	21.10	18.60	21.30	62.50	1.35	1.75	1.45	41.8%	6	17
6	3	50.8%	17.13	11.10	12.80	65.00	1.75	2.30	1.90	40.6%	9	282
0	2	—	13.10	0.00	0.00	67.50	2.35	3.10	2.60	40.4%	5	322
255	1	79.7%	15.61	13.00	15.00	70.00	3.10	3.80	3.00	38.4%	4	131
5	2	73.9%	13.15	11.20	12.80	72.50	4.00	4.80	4.56	37.4%	3	70
WAL $74.27
109	7	39.5%	4.60	4.90	5.70	75.00	5.10	6.00	4.80	36.7%	1	130
56	4	38.4%	4.50	3.90	4.50	77.50	6.00	7.30	4.70	35.5%	1	18
236	1	37.5%	4.40	2.85	3.50	80.00	8.20	8.80	8.40	34.5%	4	289
63	3	37.6%	2.50	2.05	2.80	82.50	9.80	10.80	8.00	35.9%	1	33
138	1	36.7%	1.70	1.55	2.10	85.00	10.90	12.70	10.80	35.7%	4	27
89	24	35.6%	1.45	0.95	1.50	87.50	13.80	15.00	14.70	38.0%	1	16
1,105	20	35.7%	1.00	0.75	1.15	90.00	0.00	0.00	18.14	—	1	0
24	1	37.8%	1.35	0.50	1.05	92.50	9.80	12.90	13.35	—	—	2
66	1	35.7%	0.75	0.25	0.65	95.00	0.00	0.00	19.80	—	3	0
2,191	2	37.6%	1.25	0.20	0.60	97.50	—	—	—	—	—	—
166	3	37.6%	0.40	0.10	0.45	100.00	19.50	20.80	23.50	—	10	3
189	2	38.8%	0.35	0.00	0.30	105.00	0.00	0.00	21.00	—	4	0
641	1	46.3%	0.25	0.00	0.45	110.00	0.00	0.00	24.70	—	—	0
211	2	43.5%	0.12	0.00	0.20	115.00	0.00	0.00	28.70	—	—	0
142	34	54.0%	0.47	0.00	0.45	120.00	0.00	0.00	32.90	—	—	0
2	—	51.0%	0.40	0.00	0.45	125.00	34.00	38.00	40.10	—	—	1
50	5	97.5%	2.49	1.85	4.60	130.00	—	—	—	—	—	—
1	2	130.3%	4.50	6.10	7.20	135.00	—	—	—	—	—	—
1	—	79.0%	1.93	0.05	2.05	140.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the WAL put/call ratio?

For the January 15, 2027 expiration, the WAL put/call ratio based on open interest is 1.19 (6,919 puts vs 5,838 calls), and 0.95 based on today's volume. A ratio above 1 means more puts than calls.

What is WAL's implied volatility?

At-the-money implied volatility for WAL options expiring January 15, 2027 is about 38.1%, an annualized estimate of how much the market expects Western Alliance Bancorporation stock to move.

How many WAL option expiration dates are there?

WAL has 9 listed expiration dates, from Oct 16, 2026 to Dec 15, 2028.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.