AAPL Options History — July 2007

In July 2007, AAPL traded between $4.33 and $5.21. ATM implied volatility averaged 41.9%, placing in the 55.8% IV rank vs the trailing year. The 30-day expected move averaged 12.5%. IV traded above realized volatility by 7.1% (HV 20d: 34.9%). Max pain ranged from $3.93 to $4.82. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.50.

Notable Days

  • 2007-07-26: Highest Volume — 23,045,904 contracts
  • 2007-07-12: Largest IV spike — 33.2% change
  • 2007-07-25: Highest IV Rank — 84.6%
  • 2007-07-25: Largest Expected Move — 15.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.86$4.33$5.21$4.33$4.71
Max Pain$4.49$3.93$4.82$3.93$4.82
ATM IV41.9%31.1%54.5%32.3%47.3%
Expected Move12.5%9.0%15.6%9.3%13.5%
HV 20d34.9%27.7%51.1%27.7%51.1%
HV 60d29.0%25.9%36.7%25.9%36.7%
IV Rank55.8%25.9%84.6%30.1%66.4%
IV Percentile86.2%60.6%97.9%69.0%91.0%
Term Structure-3.1%-11.3%9.2%7.8%-4.2%
VWIV44.3%32.2%54.5%32.8%48.0%
Skew 25d-0.8%-3.7%2.1%1.2%-0.5%
Skew 10d-1.3%-7.5%5.3%2.7%1.3%
Call IV 25d44.8%31.6%56.4%32.4%48.3%
Put IV 25d44.0%33.0%54.0%33.6%47.8%
Bid-Ask Spread %6.293.8112.416.206.45
Gamma HHI0.140.070.320.110.08
Net GEX171.9M80.5M242.0M110.4M80.5M
Net DEX-10.56B-14.73B-5.49B-6.95B-5.49B
Net VEX-39.3M-48.7M-33.1M-35.2M-48.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.350.770.460.75
Total Volume10,809,401.3335,493,46023,045,9047,189,50414,905,632
Total OI80,991,421.33366,567,45290,134,52077,408,01680,862,460

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-07-02$4.33$3.9332.3%9.3%27.7%0.0%32.8%1.2%7.8%110.4M-6.95B-35.2M0.466.20N/AN/A4,910,4442,279,06039,664,43637,743,580
2007-07-03$4.54$3.9331.5%9.0%32.3%0.0%32.2%1.4%9.2%174.7M-9.29B-34.6M0.503.81N/AN/A7,470,7643,756,34040,199,48838,320,744
2007-07-05$4.74$3.9332.8%9.4%35.4%30.1%33.7%0.0%6.7%215.3M-11.58B-33.1M0.454.09N/AN/A10,763,2004,802,44840,729,89238,869,740
2007-07-06$4.72$4.2931.1%11.3%35.5%25.9%40.4%-1.5%-1.7%191.7M-11.06B-34.4M0.476.55N/AN/A5,871,8522,772,02840,612,96440,071,864
2007-07-09$4.65$4.4633.4%12.0%36.1%31.6%42.8%-2.0%-2.6%170.6M-10.03B-35.6M0.398.71N/AN/A5,451,2082,146,31240,606,72040,545,064
2007-07-10$4.73$4.4633.6%12.3%33.5%32.1%43.2%-1.3%-2.9%183.0M-10.80B-36.5M0.445.29N/AN/A7,088,0043,134,76841,023,83640,985,952
2007-07-11$4.73$4.4631.5%11.8%33.5%26.8%41.8%-1.7%-2.6%190.5M-10.76B-36.5M0.6312.41N/AN/A3,977,7642,520,92441,853,16841,665,568
2007-07-12$4.79$4.4641.9%12.0%31.8%53.0%42.2%-1.5%-3.2%198.2M-11.33B-36.1M0.455.54N/AN/A3,786,6361,706,82441,454,95242,006,244
2007-07-13$4.92$4.4641.4%11.9%32.6%51.8%42.0%-1.5%-2.0%217.5M-12.90B-36.3M0.455.92N/AN/A6,422,9762,921,60441,904,77242,467,208
2007-07-16$4.93$4.4645.3%13.0%32.5%61.5%46.0%-1.8%-5.0%200.4M-12.92B-35.8M0.446.50N/AN/A8,776,2643,843,33641,870,33242,963,872
2007-07-17$4.96$4.4647.7%13.7%30.4%67.7%48.2%-1.6%-5.8%198.5M-12.92B-37.0M0.474.83N/AN/A5,711,6642,699,56442,732,48043,810,256
2007-07-18$4.93$4.6449.4%14.2%30.1%71.8%49.8%-2.2%-7.1%180.5M-12.63B-38.8M0.524.97N/AN/A3,988,4602,055,20044,027,98444,623,544
2007-07-19$5.00$4.6450.6%14.5%29.0%74.9%51.2%-1.3%-6.9%242.0M-13.40B-39.2M0.354.59N/AN/A5,779,2281,997,68844,435,41244,889,124
2007-07-20$5.13$4.6454.1%15.5%29.5%83.8%54.5%-1.2%-9.9%166.7M-14.73B-40.2M0.446.27N/AN/A8,225,3923,630,14445,069,16445,065,356
2007-07-23$5.13$4.6453.4%15.3%29.1%82.0%54.3%-3.7%-10.7%124.9M-9.64B-40.9M0.367.44N/AN/A8,107,3162,942,04434,284,79632,282,656
2007-07-24$4.82$4.6452.0%14.9%38.4%78.3%52.8%-1.6%-10.0%102.7M-7.22B-43.1M0.536.32N/AN/A8,714,8044,604,96436,601,79633,526,192
2007-07-25$4.90$4.6454.5%15.6%37.2%84.6%54.1%-0.2%-11.3%112.3M-7.79B-44.2M0.447.16N/AN/A11,720,8285,164,74038,311,36435,135,912
2007-07-26$5.21$4.6437.6%10.8%41.9%42.1%38.6%2.1%-1.2%220.2M-11.41B-43.8M0.776.21N/AN/A13,010,31210,035,59242,111,04836,633,324
2007-07-27$5.14$4.8239.3%11.3%42.1%46.4%40.2%0.4%-0.3%174.0M-9.94B-47.2M0.677.59N/AN/A6,442,6044,312,08441,869,49237,965,928
2007-07-30$5.05$4.8240.3%11.6%43.1%49.0%41.3%1.6%-0.6%155.9M-8.87B-48.7M0.535.25N/AN/A5,604,2002,942,21242,415,29638,605,868
2007-07-31$4.71$4.8247.3%13.5%51.1%66.4%48.0%-0.5%-4.2%80.5M-5.49B-48.5M0.756.45N/AN/A8,506,1766,399,45642,594,88838,267,572