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: Dec 15, 2028
Days to expiration: 796
Share price: $74.27
Put/call ratio (OI): 0.75
Put/call ratio (volume): 0.44
ATM implied volatility: 45.5%
Expected move: ±$49.96
Open interest (C / P): 60 / 45

WAL options summary

The WAL options chain for the December 15, 2028 expiration lists 21 call and 13 put contracts, with 796 days until expiration. Open interest stands at 60 calls and 45 puts, a put/call ratio of 0.75, which is fairly balanced between calls and puts. At-the-money implied volatility near the $75.00 strike is 45.5%, which implies the market expects a move of about ±$49.96 (67.3%) in Western Alliance Bancorporation stock by expiration.

The most open interest sits at the $80.00 call (15 contracts) and the $35.00 put (14 contracts).

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

WAL options chain · December 15, 2028

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
2	—	75.3%	38.00	44.50	49.50	35.00	1.90	2.90	2.70	50.0%	14	14
3	3	71.5%	37.00	41.00	46.00	40.00	2.25	3.20	2.90	44.4%	6	8
—	—	—	—	—	—	42.50	0.00	0.00	4.80	6.3%	—	0
1	—	52.9%	37.20	32.80	36.10	45.00	4.20	7.50	5.30	55.5%	4	4
0	—	—	39.54	0.00	0.00	47.50	3.80	4.90	4.30	41.8%	—	5
0	1	—	28.84	0.00	0.00	50.00	—	—	—	—	—	—
2	1	50.6%	31.54	26.80	29.90	55.00	0.00	0.00	6.30	6.3%	—	0
1	—	69.5%	40.30	32.00	36.00	60.00	—	—	—	—	—	—
—	—	—	—	—	—	62.50	7.30	9.10	8.60	35.8%	—	10
3	1	51.0%	28.40	23.30	27.50	65.00	—	—	—	—	—	—
—	—	—	—	—	—	67.50	0.00	0.00	9.70	1.6%	—	0
7	1	60.3%	27.38	24.50	29.50	70.00	0.00	0.00	11.30	0.8%	—	0
—	—	—	—	—	—	72.50	0.00	0.00	12.30	0.4%	—	0
WAL $74.27
7	24	45.5%	19.24	17.10	19.30	75.00	0.00	0.00	13.30	—	—	0
7	24	45.8%	18.10	15.50	18.50	77.50	0.00	0.00	14.30	—	—	0
15	1	44.0%	18.20	13.70	16.90	80.00	—	—	—	—	—	—
0	1	1.6%	15.98	0.00	0.00	82.50	14.20	19.00	18.80	31.8%	3	4
0	1	1.6%	19.45	0.00	0.00	85.00	—	—	—	—	—	—
0	1	56.3%	25.00	18.50	21.40	87.50	—	—	—	—	—	—
1	1	56.1%	15.70	17.40	21.00	90.00	—	—	—	—	—	—
1	—	54.8%	23.20	16.00	18.80	95.00	—	—	—	—	—	—
2	—	53.8%	20.65	15.00	17.70	97.50	—	—	—	—	—	—
0	—	6.3%	9.43	0.00	0.00	115.00	—	—	—	—	—	—
3	1	53.1%	8.42	6.00	11.00	125.00	—	—	—	—	—	—
5	—	50.8%	10.50	5.30	8.70	135.00	—	—	—	—	—	—

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 December 15, 2028 expiration, the WAL put/call ratio based on open interest is 0.75 (45 puts vs 60 calls), and 0.44 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 December 15, 2028 is about 45.5%, 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.