AAPL Options History — May 2007

In May 2007, AAPL traded between $3.55 and $4.33. ATM implied volatility averaged 26.2%. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 4.7% (HV 20d: 21.4%). Max pain ranged from $3.39 to $3.93. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 21 of 22 days. Put/call ratio averaged 0.72.

Notable Days

  • 2007-05-30: Highest Volume — 17,639,188 contracts
  • 2007-05-30: Largest IV spike — 18.6% change
  • 2007-05-30: Largest Expected Move — 9.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.89$3.55$4.33$3.55$4.33
Max Pain$3.61$3.39$3.93$3.39$3.93
ATM IV26.2%20.8%32.4%21.4%30.8%
Expected Move7.6%6.1%9.3%6.1%8.8%
HV 20d21.4%19.1%24.2%22.9%23.0%
HV 60d24.3%21.4%26.2%26.0%22.4%
Term Structure5.0%-1.0%7.9%4.0%2.2%
VWIV27.2%21.8%33.3%22.1%31.6%
Skew 25d1.1%-1.4%2.3%-0.4%-1.4%
Skew 10d2.4%-2.4%5.2%-0.0%-2.4%
Call IV 25d26.8%21.7%33.2%22.5%32.7%
Put IV 25d27.9%22.1%33.8%22.1%31.4%
Bid-Ask Spread %5.333.108.323.135.37
Gamma HHI0.230.150.910.190.22
Net GEX169.7M66.6M1.60B90.5M98.4M
Net DEX-5.90B-8.27B-4.04B-4.04B-8.27B
Net VEX-24.1M-26.3M-12.5M-24.5M-25.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.720.341.850.600.46
Total Volume7,017,552.1822,260,04817,639,1883,991,73614,824,824
Total OI57,174,339.09139,438,89664,060,50054,582,44462,204,996

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-05-01$3.55$3.3921.4%6.1%22.9%0.0%22.1%-0.4%4.0%90.5M-4.04B-24.5M0.603.13N/AN/A2,498,1321,493,60426,014,12828,568,316
2007-05-02$3.59$3.3921.3%6.1%22.9%0.0%21.8%1.0%3.8%92.8M-4.30B-24.7M0.503.35N/AN/A1,890,924953,17626,279,31628,888,636
2007-05-03$3.59$3.3921.9%6.3%22.8%0.0%22.2%1.6%3.7%90.4M-4.24B-24.7M0.893.10N/AN/A1,940,7641,722,95226,383,95228,983,472
2007-05-04$3.60$3.5720.8%7.2%22.8%0.0%25.1%1.6%5.9%96.7M-4.43B-24.6M0.724.29N/AN/A1,316,812943,23626,668,60029,536,584
2007-05-07$3.71$3.5723.7%7.6%24.1%0.0%27.0%1.9%5.3%112.0M-5.42B-23.6M0.765.90N/AN/A5,403,8324,079,65626,664,87629,750,560
2007-05-08$3.75$3.5724.8%7.8%24.2%0.0%27.2%1.5%4.6%113.2M-5.70B-23.9M0.466.77N/AN/A4,346,4401,995,70026,932,97630,611,532
2007-05-09$3.82$3.5724.9%7.7%22.9%0.0%27.2%1.5%4.8%118.9M-6.23B-24.1M0.574.86N/AN/A3,621,6322,051,92427,579,41230,956,912
2007-05-10$3.83$3.5729.1%8.3%22.5%0.0%29.0%0.9%4.7%106.0M-6.25B-24.9M0.535.58N/AN/A6,178,7323,268,97227,638,15631,511,648
2007-05-11$3.88$3.5727.1%7.8%19.8%0.0%27.7%1.1%5.5%117.9M-6.75B-25.0M0.564.94N/AN/A2,774,7161,543,80828,663,40432,266,360
2007-05-14$3.91$3.5727.2%7.8%19.8%0.0%28.0%1.4%4.7%105.1M-4.61B-12.5M0.695.34N/AN/A3,054,0442,122,17618,968,15220,470,744
2007-05-15$3.84$3.5726.7%7.6%20.5%0.0%27.5%1.8%5.4%104.9M-6.21B-24.6M0.856.84N/AN/A3,714,3963,171,64429,008,16833,047,840
2007-05-16$3.83$3.5727.4%7.8%20.7%0.0%27.7%2.3%5.7%95.3M-6.08B-25.3M1.215.79N/AN/A3,449,7684,159,76429,516,03233,677,364
2007-05-17$3.91$3.5726.4%7.6%20.7%0.0%27.5%2.2%5.8%160.0M-6.91B-25.0M0.536.10N/AN/A3,919,7762,094,17629,809,86434,235,124
2007-05-18$3.93$3.5727.8%8.0%20.7%0.0%28.2%1.8%5.3%1.60B-7.13B-24.8M0.525.41N/AN/A3,878,8402,007,68429,711,27634,349,224
2007-05-21$4.00$3.5727.2%7.8%19.8%0.0%27.7%1.5%5.9%83.5M-5.76B-23.7M0.584.28N/AN/A3,996,6362,322,96424,443,04827,043,268
2007-05-22$4.05$3.7526.6%7.6%19.4%0.0%27.6%0.9%6.5%89.3M-6.21B-23.4M1.854.85N/AN/A2,571,2124,760,30824,996,97227,713,084
2007-05-23$4.03$3.7527.6%7.9%19.6%0.0%28.3%0.6%6.4%83.3M-5.97B-24.2M1.116.27N/AN/A5,942,6366,589,18425,195,40828,814,128
2007-05-24$3.95$3.7528.0%8.0%19.1%0.0%28.1%0.5%6.4%66.6M-5.21B-26.3M0.768.32N/AN/A4,567,8923,478,66426,006,84830,726,780
2007-05-25$4.06$3.7525.2%7.2%20.4%0.0%25.8%0.4%7.9%94.8M-6.16B-25.2M0.445.60N/AN/A2,298,7721,009,06426,562,03230,816,800
2007-05-29$4.08$3.7527.3%7.8%20.2%0.0%27.9%0.6%6.1%98.6M-6.28B-25.2M0.346.20N/AN/A3,572,4921,215,03226,783,00831,096,324
2007-05-30$4.24$3.7532.4%9.3%22.6%0.0%33.3%0.7%-1.0%112.5M-7.61B-24.1M0.975.01N/AN/A8,936,2008,702,98827,390,46831,349,668
2007-05-31$4.33$3.9330.8%8.8%23.0%0.0%31.6%-1.4%2.2%98.4M-8.27B-25.1M0.465.37N/AN/A10,137,2324,687,59228,260,51233,944,484