AAPL Options History — September 2007

In September 2007, AAPL traded between $4.71 and $5.52. ATM implied volatility averaged 39.9%, placing in the 47.9% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded below realized volatility by 7.0% (HV 20d: 46.9%). Max pain ranged from $4.64 to $4.82. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 0.67.

Notable Days

  • 2007-09-05: Highest Volume — 15,999,676 contracts
  • 2007-09-06: Largest IV drop — 12.7% change
  • 2007-09-05: Highest IV Rank — 64.9%
  • 2007-09-05: Largest Expected Move — 13.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.07$4.71$5.52$5.15$5.48
Max Pain$4.72$4.64$4.82$4.64$4.82
ATM IV39.9%34.4%46.6%45.6%34.4%
Expected Move11.7%9.9%13.4%13.1%9.9%
HV 20d46.9%35.3%55.6%51.7%35.5%
HV 60d46.0%44.7%46.8%45.4%44.7%
IV Rank47.9%34.1%64.9%62.2%34.1%
IV Percentile74.9%53.8%91.1%90.5%53.8%
Term Structure4.1%-1.3%8.6%-1.3%7.0%
VWIV41.2%35.3%46.7%45.8%35.3%
Skew 25d2.1%0.4%3.6%0.7%2.3%
Skew 10d4.5%0.9%7.4%0.9%6.1%
Call IV 25d40.2%34.2%46.6%45.5%34.2%
Put IV 25d42.3%36.5%47.3%46.1%36.5%
Bid-Ask Spread %6.532.4510.305.322.45
Gamma HHI0.120.080.350.100.11
Net GEX156.0M81.7M282.1M157.5M168.3M
Net DEX-8.78B-11.64B-5.40B-10.12B-11.30B
Net VEX-47.1M-49.8M-43.4M-47.1M-47.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.431.800.481.80
Total Volume7,938,897.4743,360,61615,999,67611,005,8486,642,076
Total OI83,761,189.47474,354,42087,976,84079,290,40082,186,300

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-09-04$5.15$4.6445.6%13.1%51.7%62.2%45.8%0.7%-1.3%157.5M-10.12B-47.1M0.485.32N/AN/A7,418,0123,587,83640,945,35238,345,048
2007-09-05$4.88$4.6446.6%13.4%55.4%64.9%46.7%0.7%0.8%106.0M-7.27B-49.8M0.528.45N/AN/A10,537,6325,462,04441,246,88439,057,564
2007-09-06$4.82$4.8240.7%11.7%55.6%50.0%40.8%1.9%4.7%94.4M-6.40B-49.3M0.436.60N/AN/A6,872,0402,988,46842,607,32040,294,632
2007-09-07$4.71$4.6441.2%13.1%52.0%51.3%45.9%1.8%1.5%81.7M-5.40B-49.1M0.506.21N/AN/A6,295,5203,173,18444,211,02040,524,064
2007-09-10$4.88$4.6442.6%13.0%53.1%54.7%45.4%2.9%2.4%133.5M-7.35B-49.7M0.5910.30N/AN/A5,956,3843,529,98844,415,02840,886,804
2007-09-11$4.84$4.6442.0%13.1%52.9%53.2%45.5%2.2%2.7%118.7M-6.85B-49.2M0.677.28N/AN/A3,044,7202,035,06844,790,08841,033,692
2007-09-12$4.89$4.6438.9%12.7%51.5%45.5%44.4%3.1%3.4%136.3M-7.35B-49.7M0.495.84N/AN/A3,620,6241,792,08445,032,73641,358,604
2007-09-13$4.90$4.6443.1%12.4%49.4%56.0%43.0%2.1%3.6%140.7M-7.52B-48.8M0.468.59N/AN/A2,598,9041,184,34445,042,53641,589,212
2007-09-14$4.96$4.6441.4%11.9%48.1%51.8%43.0%3.3%4.5%163.1M-8.19B-48.2M0.715.10N/AN/A1,961,6521,398,96445,519,54441,784,624
2007-09-17$4.94$4.6443.5%12.5%46.6%56.9%44.2%3.6%2.3%160.7M-8.03B-46.5M0.617.61N/AN/A2,805,2361,718,10845,321,47241,894,972
2007-09-18$5.03$4.6439.8%11.4%46.7%47.8%40.4%3.3%4.3%206.3M-9.00B-46.2M0.528.21N/AN/A4,707,2202,447,87245,218,99241,946,408
2007-09-19$5.03$4.6439.3%11.3%44.8%46.5%39.5%1.7%3.9%193.8M-8.86B-44.6M0.775.42N/AN/A4,286,2963,313,85645,152,12842,246,120
2007-09-20$5.01$4.8237.8%10.8%43.1%42.7%38.4%1.4%4.8%191.9M-8.64B-44.2M0.718.69N/AN/A2,856,2242,019,05245,283,56042,671,076
2007-09-21$5.15$4.8236.8%10.6%43.6%40.2%37.5%2.0%5.6%282.1M-10.25B-43.5M0.517.09N/AN/A5,458,1242,775,66845,190,65642,786,184
2007-09-24$5.30$4.8236.9%10.6%43.4%40.5%37.8%0.4%5.9%138.4M-9.92B-43.4M0.615.53N/AN/A6,521,2843,964,52037,225,02037,129,400
2007-09-25$5.47$4.8235.5%10.2%43.2%36.9%36.7%2.9%8.6%161.3M-11.39B-45.2M0.665.44N/AN/A6,357,3164,225,98438,552,13638,781,652
2007-09-26$5.46$4.8236.1%10.4%39.3%38.5%36.9%1.6%6.7%162.5M-11.26B-45.3M1.175.81N/AN/A5,517,8206,469,37239,341,34439,699,996
2007-09-27$5.52$4.8235.1%10.1%35.3%35.9%36.1%2.5%7.1%166.6M-11.64B-46.7M0.464.21N/AN/A3,619,3081,676,24840,202,96041,947,472
2007-09-28$5.48$4.8234.4%9.9%35.5%34.1%35.3%2.3%7.0%168.3M-11.30B-47.3M1.802.45N/AN/A2,375,8004,266,27640,624,50041,561,800