Energy

Williams Companies Inc (WMB) options and signal

Figures as of 28 Sep 2026

WMB is Williams Companies Inc, an Energy name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
IV rank	76 of 100	28 Sep
At the money IV	33.8%	28 Sep
Priced move to 30 Oct	9.4% down, 10.4% up	28 Sep
Call wall and put wall	80 and 67	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	68.98	28 Sep
Next report	2 Nov 2026	28 Sep

Options Snapshot

WMB's IV rank is 76 of 100 on 28 Sep 2026.

Figure	Value
IV rank	76 of 100
At the money IV	33.8%, near month, 32 days
Put/call ratio, open interest	1.00
Call open interest, strikes captured near the price	144,000 contracts
Put open interest, strikes captured near the price	144,000 contracts
Cost to trade at the money	Fair, 28.8% of the option's mid price

IV rank is where the at the money IV sits among WMB's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, WMB options priced a move of 9.4 percent down and 10.4 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	3.7%	4.0%	66.44 to 71.72
9 Oct 2026	11	5.5%	5.8%	65.16 to 72.97
23 Oct 2026	25	7.5%	8.6%	63.81 to 74.93
30 Oct 2026	32	9.4%	10.4%	62.49 to 76.16
18 Dec 2026	81	14.4%	14.5%	59.04 to 78.95
15 Jan 2027	109	16.2%	16.4%	57.78 to 80.28
19 Mar 2027	172	20.9%	21.6%	54.58 to 83.88

The range is one standard deviation either side of the close of 68.98, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, WMB's call wall is the 80 strike and its put wall is the 67 strike.

Figure	Value
Call wall, most open call gamma	80
Put wall, most open put gamma	67
Flip strike, where net gamma changes sign	70.95
Net dollar gamma, calls minus puts	minus $23.22 million
Total dollar gamma, both sides	$59.19 million
Close	68.98

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, WMB's at the money IV is 33.8 percent against 20 day realized volatility of 19.6 percent.

Figure	Value
At the money IV	33.8%
Realized volatility, 20 trading days	19.6%
Realized volatility, 60 trading days	25.9%
IV against its own weekly record	In the middle
Weekly readings on record	864, from 8 Jan 2010
Weeks the price moved more than the one week priced move	27.4% of 252 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Weather

On 28 Sep 2026, WMB's at the money IV runs from 31.8 percent at 4 days to 31.4 percent at 172 days.

Days to expiry	At the money IV
4	31.8%
11	30.1%
18	27.0%
25	31.2%
53	31.7%
81	30.7%
109	30.1%
172	31.4%

Near and far expiries price about the same volatility, a flat term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 32 day expiry, WMB's IV ten percent below the price sits 2.5 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	31.2%	-2.5 points
At the money	33.8%	0.0 points
10% above the price	35.2%	+1.5 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, WMB's surface spans 10 expiries out to 172 days, with IV from 26.9 to 71.7 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	66
Lowest IV among them	26.9%
Highest IV among them	71.7%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, WMB has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	31.8%	3,437	10,838
9 Oct 2026	11	30.1%	3,263	20,279
16 Oct 2026	18	27.0%	17,730	8,523
23 Oct 2026	25	31.2%	2,554	24,278
30 Oct 2026	32	33.8%	679	53,328
20 Nov 2026	53	31.7%	83,322	9,109
18 Dec 2026	81	30.7%	11,095	4,149
15 Jan 2027	109	30.1%	18,987	12,307
19 Feb 2027	144	31.4%	924	382
19 Mar 2027	172	31.4%	2,286	1,188

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, WMB's largest open interest sits at the 80 strike, with 97,981 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
80	97,864	117	97,981
67	16	54,649	54,665
65	3,556	41,434	44,990
75	15,916	6,454	22,370
66	14	17,290	17,304
70	4,164	11,198	15,362

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, WMB's at the money IV moved from 31.5 percent to 33.8 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	31.5%	33.8%	+2.3 points
Open interest, strikes captured near the price	278,995	288,658	+9,663
Put/call ratio, open interest	0.95	1.00	+0.05

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Changed Hands

On 28 Sep 2026, 7,135 WMB option contracts traded, 0.6 times its own recent average.

Figure	Value
Calls traded	4,732
Puts traded	2,403
Against its recent average	0.6 times
Busier than	11 of its last 20 trading days
Open interest, whole chain	376,035 contracts
Volume to open interest	0.02
Unusual volume flag	Yes, 1 contract traded well above open interest
Largest flagged contract	The 69 put expiring 2 Oct, 537 traded against 145 open

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of WMB's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	72.31	$6.63 million	80	65
21 Sep 2026	71.65	minus $1.54 million	80	67
28 Sep 2026	68.98	minus $23.22 million	80	67

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of WMB was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	69.60, the swing high of 24 Aug 2026
Level below the close	68.40, the swing low of 28 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Cash-secured put (sell a put below the price)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 WMB sat at the 72nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	74 of 100	Neutral
20 trading days	81 of 100	Bullish
45 trading days	72 of 100	Neutral

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put WMB on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	1 of 2
Long	45 day	Neutral	0 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Signal History

On 25 Sep 2026 WMB had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	72 of 100
24 Sep 2026	None	70 of 100
23 Sep 2026	None	82 of 100
22 Sep 2026	None	87 of 100
21 Sep 2026	None	61 of 100
18 Sep 2026	None	65 of 100
17 Sep 2026	None	64 of 100
16 Sep 2026	None	87 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Sector Split

On 25 Sep 2026, 17 of 56 Energy names were bullish and 33 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Energy	56	17	33	6

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Price Chart

WMB closed at 68.98 on 28 Sep 2026.

Figure	Value
Last close	68.98
Change over 5 trading days	-3.7%
Change over 21 trading days	-7.0%
Change over 63 trading days	-8.1%
Change over 252 trading days	+9.0%
52 week high	80.08
52 week low	56.19
20 day moving average	72.56
50 day moving average	72.53
200 day moving average	70.99
RSI, 14 days	35

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

WMB reports next on 2 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	2 Nov 2026, after the close
Date	Worked out from past quarters
Move after the report of 3 Aug 2026	+1.5%
Move after the report of 30 Apr 2026	-1.0%
Move after the report of 28 Jan 2026	+0.5%
Move after the report of 5 May 2025	-2.4%

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Short Volume

On 25 Sep 2026, 43.3 percent of WMB's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	43.3%
Five day average	39.4%
52 week median	42.9%

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

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Seasonality

In the 23 Septembers on record, WMB's average change was minus 1.0 percent, and it rose in 56.5 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-1.0%	+0.9%	56.5%	23
October	+2.0%	+2.1%	60.9%	23
November	+2.3%	+4.1%	60.9%	23

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Headlines

The desk's news feeds carried 1 headline naming WMB in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
Latest	28 Sep 2026

The titles are in the Headlines window, with the time each was published.

Headlines as of 28 Sep 2026. Current on every plan.

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Questions

What is WMB's IV rank?: WMB's IV rank is 76 of 100 on 28 Sep 2026.
What move are WMB options pricing?: On 28 Sep 2026, WMB options priced a move of 9.4 percent down and 10.4 percent up by 30 Oct 2026.
Where are WMB's call wall and put wall?: On 28 Sep 2026, WMB's call wall is the 80 strike and its put wall is the 67 strike.
What was the desk's latest view of WMB on the Free plan?: On 25 Sep 2026 the desk's view of WMB was bullish, paper trading.
When does WMB report earnings next?: WMB reports next on 2 Nov 2026, a date worked out from past quarters.

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