AAPL Options History — March 2008

In March 2008, AAPL traded between $4.27 and $5.18. ATM implied volatility averaged 42.6%, placing in the 40.9% IV rank vs the trailing year. The 30-day expected move averaged 12.4%. IV traded below realized volatility by 2.9% (HV 20d: 45.5%). Max pain ranged from $4.46 to $4.82. Net GEX was positive for 7 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.75.

Notable Days

  • 2008-03-18: Highest Volume — 9,093,084 contracts
  • 2008-03-11: Largest IV drop — 14.6% change
  • 2008-03-03: Highest IV Rank — 50.1%
  • 2008-03-10: Largest Expected Move — 13.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.67$4.27$5.18$4.35$5.13
Max Pain$4.75$4.46$4.82$4.46$4.82
ATM IV42.6%38.6%47.5%47.5%40.8%
Expected Move12.4%11.1%13.8%13.6%11.7%
HV 20d45.5%42.4%49.2%46.8%43.2%
HV 60d50.8%48.7%53.0%49.5%52.9%
IV Rank40.9%33.3%50.1%50.1%37.5%
IV Percentile62.7%45.6%79.4%79.4%55.2%
Term Structure3.9%0.5%9.4%0.8%8.0%
VWIV43.7%39.9%47.9%47.6%41.8%
Skew 25d4.0%2.5%5.5%3.2%3.5%
Skew 10d8.0%5.6%11.2%6.5%6.9%
Call IV 25d41.7%38.3%46.5%46.5%40.0%
Put IV 25d45.7%41.0%51.4%49.7%43.4%
Bid-Ask Spread %3.302.425.062.443.20
Gamma HHI0.070.050.090.080.06
Net GEX-6.1M-40.7M52.3M-37.3M19.9M
Net DEX-197.2M-2.98B2.38B1.94B-2.76B
Net VEX-45.9M-48.4M-43.8M-44.9M-48.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.511.180.570.75
Total Volume6,694,654.44,042,4449,093,0848,543,2764,042,444
Total OI67,282,776.460,659,95671,348,20065,097,76066,034,416

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-03-03$4.35$4.4647.5%13.6%46.8%50.1%47.6%3.2%0.8%-37.3M1.94B-44.9M0.572.44N/AN/A5,446,7283,096,54834,590,86430,506,896
2008-03-04$4.45$4.4645.2%12.9%47.6%45.7%45.9%3.7%0.8%-18.4M1.17B-46.4M0.732.42N/AN/A4,579,3723,333,48435,580,94430,652,328
2008-03-05$4.45$4.4645.0%12.9%47.3%45.4%45.2%3.4%0.8%-24.7M1.27B-46.0M0.582.67N/AN/A2,784,4601,606,16435,671,10431,011,848
2008-03-06$4.32$4.4644.5%12.8%43.6%44.6%44.4%3.5%2.5%-33.6M1.98B-44.6M0.622.67N/AN/A3,827,3762,380,50436,258,32031,136,700
2008-03-07$4.37$4.8241.8%13.4%43.7%39.4%46.3%4.5%1.1%-26.9M1.80B-44.9M0.513.40N/AN/A3,613,4841,837,50036,659,72831,189,956
2008-03-10$4.27$4.8247.1%13.8%42.4%49.3%47.9%5.1%0.5%-40.7M2.38B-43.8M0.662.64N/AN/A2,859,5841,875,35636,872,50031,276,140
2008-03-11$4.55$4.8240.2%12.2%46.8%36.4%42.6%5.5%3.3%-2.0M492.1M-45.5M0.583.68N/AN/A4,241,3282,476,71237,191,22431,399,368
2008-03-12$4.50$4.8241.0%12.9%45.1%37.9%45.1%4.9%1.9%-5.8M591.5M-44.9M0.795.06N/AN/A3,185,7282,526,83237,282,22431,923,416
2008-03-13$4.57$4.8243.0%12.3%43.6%41.6%43.7%4.7%2.8%1.7M300.6M-45.7M0.823.06N/AN/A3,928,7643,205,18837,561,30031,867,864
2008-03-14$4.52$4.8243.7%12.5%43.4%43.0%43.7%5.1%3.4%-9.6M685.7M-45.8M1.184.70N/AN/A3,478,3004,089,98837,734,20032,491,172
2008-03-17$4.53$4.8244.9%12.9%42.6%45.3%45.2%4.5%1.2%-8.2M738.5M-45.0M0.864.49N/AN/A4,016,4603,458,42038,063,50832,402,160
2008-03-18$4.74$4.8240.7%11.7%44.8%37.3%42.1%3.7%2.6%52.3M-1.52B-45.1M0.682.85N/AN/A5,427,5483,665,53638,333,42832,291,028
2008-03-19$4.63$4.8243.4%12.4%45.8%42.3%43.6%2.5%3.3%7.0M-346.3M-45.0M0.703.94N/AN/A4,345,4323,020,44438,463,32032,809,756
2008-03-20$4.76$4.8238.6%11.1%45.9%33.3%39.9%2.7%6.3%654.3K-1.62B-45.1M0.733.94N/AN/A3,847,1722,810,92038,605,70032,742,500
2008-03-24$4.98$4.8240.7%11.7%47.4%37.3%42.0%4.3%6.8%-6.3M-1.76B-45.6M0.963.37N/AN/A4,591,3564,419,12831,539,36829,120,588
2008-03-25$5.04$4.8241.9%12.0%47.3%39.7%42.5%4.9%6.3%-9.4M-1.84B-47.3M0.822.83N/AN/A3,538,5562,899,28832,237,26830,647,680
2008-03-26$5.18$4.8240.3%11.5%47.6%36.5%41.2%3.4%8.2%15.2M-2.98B-48.4M0.793.51N/AN/A4,888,4363,880,38032,824,12030,934,652
2008-03-27$5.01$4.8242.0%12.0%49.2%39.8%42.2%3.3%8.0%-8.8M-1.85B-48.1M0.662.79N/AN/A3,275,8322,173,83633,539,38031,258,948
2008-03-28$5.11$4.8239.3%11.3%46.1%34.7%40.4%3.3%9.4%13.8M-2.60B-48.4M1.022.44N/AN/A2,582,4402,636,06033,913,46031,036,152
2008-03-31$5.13$4.8240.8%11.7%43.2%37.5%41.8%3.5%8.0%19.9M-2.76B-48.2M0.753.20N/AN/A2,304,5121,737,93234,488,21631,546,200