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: May 21, 2027
Days to expiration: 223
Share price: $74.27
Put/call ratio (OI): 35.13
Put/call ratio (volume): 68.00
ATM implied volatility: 37.0%
Expected move: ±$21.49
Open interest (C / P): 30 / 1.05K

WAL options summary

The WAL options chain for the May 21, 2027 expiration lists 4 call and 4 put contracts, with 223 days until expiration. Open interest stands at 30 calls and 1,054 puts, a put/call ratio of 35.13, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $72.50 strike is 37.0%, which implies the market expects a move of about ±$21.49 (28.9%) in Western Alliance Bancorporation stock by expiration.

The most open interest sits at the $105.00 call (20 contracts) and the $65.00 put (1.00K contracts).

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

WAL options chain · May 21, 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
—	—	—	—	—	—	60.00	2.40	3.30	2.61	41.4%	1	3
—	—	—	—	—	—	65.00	3.60	5.00	4.30	41.0%	135	1,000
—	—	—	—	—	—	72.50	6.20	7.60	6.93	37.0%	—	1
WAL $74.27
3	—	42.1%	7.92	6.60	8.40	77.50	—	—	—	—	—	—
5	2	41.4%	5.50	4.50	6.50	82.50	—	—	—	—	—	—
2	—	40.2%	6.25	3.70	5.50	85.00	12.90	14.90	10.93	34.2%	—	50
20	—	37.8%	1.80	0.60	1.55	105.00	—	—	—	—	—	—

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 May 21, 2027 expiration, the WAL put/call ratio based on open interest is 35.13 (1,054 puts vs 30 calls), and 68.00 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 May 21, 2027 is about 37.0%, 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.