WAL · Western Alliance Bancorporation

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$83.11 +0.14 (+0.17%)

Market Cap

$9.05B

109.19M

Options Chain

15-min delayed Underlying $82.97 · Jul 23, 2026 Options Calculator

Positioning

Aug 21, 2026 · 28 days to expiry · 38 contracts

Put / call OI

1.01

Balanced positioning

Open interest

1,970

contracts outstanding

Volume

255

traded today

Max pain

$80.00

$2.97 below spot

ATM implied vol

33.4%

market's expected move

Open interest by strike

Calls Puts

72.5

77.5

82.5

87.5

92.5

100

105

110

115

120

Chain

Click any strike for greeks, breakeven and the calculator

Expiry

Aug 21 28d Sep 18 56d Nov 20 119d Dec 18 147d Jan 15 175d Mar 19 238d Dec 17 511d Jan 21 546d Dec 15 875d

Calls						Puts
OI	Vol	IV	Δ	Last	Strike	Last	Δ	IV	Vol	OI
0	—	82.5%	0.972	—		$0.05	-0.015	72.1%	62	80
Call · $55 In the money Last — Breakeven — Implied vol 82.5% Delta 0.972 ≈97% ITM Gamma 0.003 Theta -0.022 Vega 0.019 Open interest 0 Model this call Put · $55 Last $0.05 Breakeven $54.95 Implied vol 72.1% Delta -0.015 ≈2% ITM Gamma 0.002 Theta -0.011 Vega 0.009 Open interest 80 Model this put
1	1	68.7%	0.962	$24.00		$0.15	-0.019	58.6%	80	115
Call · $60 In the money Last $24.00 Breakeven $84.00 Implied vol 68.7% Delta 0.962 ≈96% ITM Gamma 0.005 Theta -0.024 Vega 0.02 Open interest 1 Model this call Put · $60 Last $0.15 Breakeven $59.85 Implied vol 58.6% Delta -0.019 ≈2% ITM Gamma 0.003 Theta -0.011 Vega 0.01 Open interest 115 Model this put
0	—	56.1%	0.949	—		$0.13	-0.028	48%	2	35
Call · $65 In the money Last — Breakeven — Implied vol 56.1% Delta 0.949 ≈95% ITM Gamma 0.008 Theta -0.026 Vega 0.02 Open interest 0 Model this call Put · $65 Last $0.13 Breakeven $64.87 Implied vol 48% Delta -0.028 ≈3% ITM Gamma 0.006 Theta -0.013 Vega 0.02 Open interest 35 Model this put
0	16	43%	0.929	$13.20		$0.30	-0.07	43%	3	85
Call · $70 In the money Last $13.20 Breakeven $83.20 Implied vol 43% Delta 0.929 ≈93% ITM Gamma 0.014 Theta -0.026 Vega 0.037 Open interest 0 Model this call Put · $70 Last $0.30 Breakeven $69.70 Implied vol 43% Delta -0.07 ≈7% ITM Gamma 0.014 Theta -0.023 Vega 0.037 Open interest 85 Model this put
4	4	45.2%	0.869	$11.19		$0.50	-0.093	37.7%	3	495
Call · $72.5 In the money Last $11.19 Breakeven $83.69 Implied vol 45.2% Delta 0.869 ≈87% ITM Gamma 0.021 Theta -0.042 Vega 0.056 Open interest 4 Model this call Put · $72.5 Last $0.50 Breakeven $72.00 Implied vol 37.7% Delta -0.093 ≈9% ITM Gamma 0.019 Theta -0.025 Vega 0.037 Open interest 495 Model this put
1	1	40%	0.826	$8.90		$0.70	-0.16	37.6%	15	28
Call · $75 In the money Last $8.90 Breakeven $83.90 Implied vol 40% Delta 0.826 ≈83% ITM Gamma 0.028 Theta -0.044 Vega 0.057 Open interest 1 Model this call Put · $75 Last $0.70 Breakeven $74.30 Implied vol 37.6% Delta -0.16 ≈16% ITM Gamma 0.028 Theta -0.037 Vega 0.057 Open interest 28 Model this put
0	—	38.3%	0.748	—		$1.07	-0.237	35.5%	1	45
Call · $77.5 In the money Last — Breakeven — Implied vol 38.3% Delta 0.748 ≈75% ITM Gamma 0.037 Theta -0.052 Vega 0.076 Open interest 0 Model this call Put · $77.5 Last $1.07 Breakeven $76.43 Implied vol 35.5% Delta -0.237 ≈24% ITM Gamma 0.038 Theta -0.044 Vega 0.076 Open interest 45 Model this put
44	2	36.1%	0.651	$4.01		$1.80	-0.339	33.3%	11	85
Call · $80 In the money Last $4.01 Breakeven $84.01 Implied vol 36.1% Delta 0.651 ≈65% ITM Gamma 0.045 Theta -0.057 Vega 0.089 Open interest 44 Model this call Put · $80 Last $1.80 Breakeven $78.20 Implied vol 33.3% Delta -0.339 ≈34% ITM Gamma 0.049 Theta -0.049 Vega 0.089 Open interest 85 Model this put
33	13	34.9%	0.531	$3.33		$2.77	-0.469	31.9%	23	17
Call · $82.5 In the money Last $3.33 Breakeven $85.83 Implied vol 34.9% Delta 0.531 ≈53% ITM Gamma 0.051 Theta -0.059 Vega 0.09 Open interest 33 Model this call Put · $82.5 Last $2.77 Breakeven $79.73 Implied vol 31.9% Delta -0.469 ≈47% ITM Gamma 0.056 Theta -0.051 Vega 0.09 Open interest 17 Model this put
Underlying $82.97
179	1	33.1%	0.402	$1.82		$4.60	-0.61	30.7%	3	7
Call · $85 Last $1.82 Breakeven $86.82 Implied vol 33.1% Delta 0.402 ≈40% ITM Gamma 0.052 Theta -0.054 Vega 0.092 Open interest 179 Model this call Put · $85 In the money Last $4.60 Breakeven $80.40 Implied vol 30.7% Delta -0.61 ≈61% ITM Gamma 0.056 Theta -0.047 Vega 0.092 Open interest 7 Model this put
87	1	33.8%	0.292	$1.20		—	-0.73	31.1%	—	0
Call · $87.5 Last $1.20 Breakeven $88.70 Implied vol 33.8% Delta 0.292 ≈29% ITM Gamma 0.045 Theta -0.049 Vega 0.082 Open interest 87 Model this call Put · $87.5 In the money Last — Breakeven — Implied vol 31.1% Delta -0.73 ≈73% ITM Gamma 0.048 Theta -0.04 Vega 0.082 Open interest 0 Model this put
276	5	31%	0.174	$0.65		—	-0.779	37.3%	—	0
Call · $90 Last $0.65 Breakeven $90.65 Implied vol 31% Delta 0.174 ≈17% ITM Gamma 0.036 Theta -0.033 Vega 0.064 Open interest 276 Model this call Put · $90 In the money Last — Breakeven — Implied vol 37.3% Delta -0.779 ≈78% ITM Gamma 0.036 Theta -0.043 Vega 0.064 Open interest 0 Model this put
336	5	30.4%	0.1	$0.31		—	-0.867	35.5%	—	0
Call · $92.5 Last $0.31 Breakeven $92.81 Implied vol 30.4% Delta 0.1 ≈10% ITM Gamma 0.025 Theta -0.022 Vega 0.044 Open interest 336 Model this call Put · $92.5 In the money Last — Breakeven — Implied vol 35.5% Delta -0.867 ≈87% ITM Gamma 0.028 Theta -0.029 Vega 0.043 Open interest 0 Model this put
16	2	32%	0.064	$0.10		—	-0.905	37.4%	—	0
Call · $95 Last $0.10 Breakeven $95.10 Implied vol 32% Delta 0.064 ≈6% ITM Gamma 0.017 Theta -0.017 Vega 0.026 Open interest 16 Model this call Put · $95 In the money Last — Breakeven — Implied vol 37.4% Delta -0.905 ≈90% ITM Gamma 0.021 Theta -0.023 Vega 0.042 Open interest 0 Model this put
1	1	40.7%	0.052	$0.50		—	-0.929	46.3%	—	0
Call · $100 Last $0.50 Breakeven $100.50 Implied vol 40.7% Delta 0.052 ≈5% ITM Gamma 0.011 Theta -0.018 Vega 0.026 Open interest 1 Model this call Put · $100 In the money Last — Breakeven — Implied vol 46.3% Delta -0.929 ≈93% ITM Gamma 0.014 Theta -0.023 Vega 0.025 Open interest 0 Model this put
0	—	53.8%	0.063	—		—	-0.975	45.4%	—	0
Call · $105 Last — Breakeven — Implied vol 53.8% Delta 0.063 ≈6% ITM Gamma 0.01 Theta -0.027 Vega 0.027 Open interest 0 Model this call Put · $105 In the money Last — Breakeven — Implied vol 45.4% Delta -0.975 ≈97% ITM Gamma 0.008 Theta -0.009 Vega 0.011 Open interest 0 Model this put
0	—	—	—	—		—	-0.994	46.9%	—	0
Call · $110 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $110 In the money Last — Breakeven — Implied vol 46.9% Delta -0.994 ≈99% ITM Gamma 0.004 Theta -0.002 Vega 0.003 Open interest 0 Model this put
0	—	—	—	—		—	-0.995	53.1%	—	0
Call · $115 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $115 In the money Last — Breakeven — Implied vol 53.1% Delta -0.995 ≈99% ITM Gamma 0.003 Theta -0.003 Vega 0.003 Open interest 0 Model this put
0	—	—	—	—		—	—	—	—	0
Call · $120 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $120 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this put

About this data

Greeks, implied volatility, open interest and the last price come from the latest daily snapshot and are 15-minute delayed. Bid and ask are not included on this plan.

In-the-money strikes are tinted, deepening toward the money, and the bar beside each open-interest figure scales to the heaviest strike shown. Max pain is the listed strike where the most open interest would expire worthless — a positioning reference, not a forecast.

Key facts CIK 1212545 CUSIP 957638109 13F (30d) 85 filings 84 filers Visit website Investor relations