AAPL Options History — March 2007

In March 2007, AAPL traded between $3.05 and $3.42. ATM implied volatility averaged 25.9%. The 30-day expected move averaged 7.7%. IV traded below realized volatility by 4.2% (HV 20d: 30.1%). Max pain ranged from $3.04 to $3.04. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.88.

Notable Days

  • 2007-03-28: Highest Volume — 8,770,608 contracts
  • 2007-03-15: Largest IV spike — 19.6% change
  • 2007-03-05: Largest Expected Move — 9.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.24$3.05$3.42$3.11$3.32
Max Pain$3.04$3.04$3.04$3.04$3.04
ATM IV25.9%22.7%31.7%29.9%25.3%
Expected Move7.7%6.6%9.1%8.6%7.2%
HV 20d30.1%21.9%33.7%32.4%21.9%
HV 60d35.8%34.4%37.4%37.4%34.4%
Term Structure6.9%0.9%10.0%1.2%10.0%
VWIV27.5%23.9%32.0%30.2%25.8%
Skew 25d1.7%0.4%2.6%2.6%1.0%
Skew 10d3.5%0.3%4.8%4.5%2.4%
Call IV 25d26.8%23.3%30.7%28.9%25.7%
Put IV 25d28.5%25.0%32.4%31.6%26.7%
Bid-Ask Spread %5.062.478.963.472.47
Gamma HHI0.240.160.560.180.21
Net GEX101.9M42.6M257.8M58.8M98.8M
Net DEX-2.98B-4.59B-1.44B-1.91B-3.49B
Net VEX-23.5M-25.9M-22.5M-23.1M-25.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.880.463.140.620.69
Total Volume3,929,2261,611,9048,770,6085,206,7401,904,056
Total OI56,169,238.36451,476,43260,527,23653,595,44460,521,580

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-03-01$3.11$3.0429.9%8.6%32.4%0.0%30.2%2.6%1.2%58.8M-1.91B-23.1M0.623.47N/AN/A3,219,0481,987,69227,558,32826,037,116
2007-03-02$3.05$3.0430.1%8.6%32.9%0.0%30.3%1.7%0.9%42.6M-1.44B-23.3M1.596.17N/AN/A1,105,3281,758,37228,251,10426,467,812
2007-03-05$3.08$3.0431.7%9.1%33.1%0.0%32.0%1.7%4.5%50.1M-1.64B-22.9M0.577.25N/AN/A2,265,6761,290,99628,123,73226,399,380
2007-03-06$3.15$3.0427.5%8.4%33.6%0.0%29.8%2.4%5.4%74.4M-2.35B-23.4M0.648.96N/AN/A1,677,3121,067,52828,714,95226,744,480
2007-03-07$3.13$3.0426.6%8.3%33.7%0.0%29.5%2.0%5.9%71.4M-2.21B-23.3M0.808.73N/AN/A1,212,820969,05228,969,33226,736,584
2007-03-08$3.14$3.0424.8%8.0%32.7%0.0%28.6%2.2%6.5%77.8M-2.31B-23.1M0.556.01N/AN/A1,038,940572,96429,218,47627,036,352
2007-03-09$3.14$3.0422.7%7.8%32.8%0.0%27.7%1.9%6.7%84.7M-2.33B-22.5M1.236.12N/AN/A1,033,3121,272,20829,349,34826,953,808
2007-03-12$3.21$3.0424.3%7.8%30.7%0.0%27.8%2.2%6.2%125.0M-3.11B-22.6M0.474.85N/AN/A2,972,1161,403,94829,525,52427,530,524
2007-03-13$3.16$3.0426.4%8.3%30.9%0.0%29.2%2.2%5.4%89.4M-2.49B-23.2M0.658.87N/AN/A2,839,0321,848,98029,858,78027,832,616
2007-03-14$3.21$3.0423.0%8.3%31.4%0.0%29.1%2.1%5.7%147.0M-3.08B-23.2M0.525.14N/AN/A2,471,4761,278,67630,101,54028,055,272
2007-03-15$3.20$3.0427.5%7.9%31.5%0.0%28.3%1.6%6.8%198.4M-2.85B-22.9M0.684.60N/AN/A2,110,9201,429,62430,030,67228,323,428
2007-03-16$3.20$3.0426.7%7.7%31.4%0.0%27.1%1.5%7.5%257.8M-2.70B-23.3M0.784.79N/AN/A2,173,0801,701,61630,249,07228,635,684
2007-03-19$3.25$3.0426.3%7.5%31.7%0.0%27.0%1.1%7.0%67.1M-2.83B-22.9M0.704.20N/AN/A2,836,0641,992,31225,862,00425,614,428
2007-03-20$3.27$3.0425.2%7.2%31.6%0.0%25.3%1.5%8.0%74.5M-3.00B-22.9M1.106.44N/AN/A1,407,8681,545,15226,657,03626,291,216
2007-03-21$3.35$3.0424.0%6.9%30.1%0.0%24.9%1.8%7.7%95.2M-3.74B-22.9M0.533.79N/AN/A2,483,1521,310,84826,933,95626,305,580
2007-03-22$3.36$3.0423.8%6.8%30.1%0.0%24.8%1.7%9.0%93.6M-3.76B-23.4M0.704.41N/AN/A2,226,5881,569,17627,342,14026,651,156
2007-03-23$3.34$3.0423.2%6.6%30.1%0.0%23.9%1.8%9.7%94.1M-3.68B-23.8M1.002.78N/AN/A2,341,2202,348,16428,024,58427,181,420
2007-03-26$3.42$3.0424.9%7.2%30.9%0.0%25.6%1.7%9.5%122.1M-4.59B-23.7M0.463.76N/AN/A4,135,3761,913,60428,573,46827,399,456
2007-03-27$3.41$3.0425.5%7.3%22.2%0.0%25.8%1.4%9.4%117.8M-4.50B-24.4M0.652.70N/AN/A3,007,7321,958,54429,056,49628,173,880
2007-03-28$3.33$3.0426.3%7.5%24.6%0.0%26.5%0.4%8.9%99.2M-3.70B-25.0M3.142.75N/AN/A2,119,9646,650,64429,284,24828,619,444
2007-03-29$3.35$3.0425.2%7.2%23.0%0.0%26.7%1.5%10.0%101.3M-3.77B-25.9M1.193.07N/AN/A1,824,3402,167,45229,598,12830,929,108
2007-03-30$3.32$3.0425.3%7.2%21.9%0.0%25.8%1.0%10.0%98.8M-3.49B-25.4M0.692.47N/AN/A1,123,584780,47229,678,06830,843,512