AAPL Options History — April 2008

In April 2008, AAPL traded between $5.25 and $6.25. ATM implied volatility averaged 46.2%, placing in the 47.7% IV rank vs the trailing year. The 30-day expected move averaged 13.8%. IV traded above realized volatility by 4.7% (HV 20d: 41.6%). Max pain ranged from $4.82 to $5.71. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.76.

Notable Days

  • 2008-04-24: Highest Volume — 17,029,180 contracts
  • 2008-04-24: Largest IV drop — 37.5% change
  • 2008-04-22: Highest IV Rank — 79.8%
  • 2008-04-22: Largest Expected Move — 18.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.65$5.25$6.25$5.34$6.21
Max Pain$5.33$4.82$5.71$4.82$5.71
ATM IV46.2%35.8%63.3%40.8%35.8%
Expected Move13.8%10.3%18.1%11.7%10.3%
HV 20d41.6%37.0%44.8%43.0%40.7%
HV 60d47.7%43.1%53.8%53.8%44.1%
IV Rank47.7%28.2%79.8%37.6%28.2%
IV Percentile63.5%23.4%96.4%55.2%23.4%
Term Structure-3.2%-11.1%7.6%6.8%2.2%
VWIV48.7%36.3%63.3%42.2%36.3%
Skew 25d3.0%1.4%4.0%3.3%1.9%
Skew 10d5.6%0.5%7.5%7.0%4.6%
Call IV 25d47.0%35.3%62.7%39.9%35.3%
Put IV 25d50.0%37.2%64.1%43.2%37.2%
Bid-Ask Spread %2.772.103.583.442.81
Gamma HHI0.080.050.160.060.09
Net GEX85.6M19.2M164.8M54.6M160.3M
Net DEX-5.63B-8.37B-3.25B-4.38B-8.11B
Net VEX-49.3M-52.5M-46.7M-48.3M-52.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.451.150.840.67
Total Volume8,955,751.6364,801,27217,029,1808,418,48010,837,988
Total OI66,537,514.90949,114,82874,537,12065,979,48063,044,184

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-04-01$5.34$4.8240.8%11.7%43.0%37.6%42.2%3.3%6.8%54.6M-4.38B-48.3M0.843.44N/AN/A4,582,9563,835,52434,487,29231,492,188
2008-04-02$5.27$4.8243.0%12.3%43.5%41.6%43.0%2.9%6.2%40.8M-3.73B-48.4M1.102.35N/AN/A4,503,2964,955,18834,809,99232,312,084
2008-04-03$5.41$4.8241.0%11.7%43.8%37.9%41.8%2.8%7.6%67.1M-4.88B-48.9M0.802.79N/AN/A3,837,3163,086,88835,255,83633,151,916
2008-04-04$5.47$5.1839.1%14.2%41.4%34.4%50.6%3.2%0.0%72.3M-5.21B-48.7M0.993.49N/AN/A3,626,8683,575,51635,442,28833,660,284
2008-04-07$5.57$5.1841.9%14.5%41.4%39.6%50.6%2.9%-5.7%78.1M-6.02B-48.9M0.692.56N/AN/A6,550,9644,540,22835,883,14834,481,944
2008-04-08$5.46$5.3638.7%14.7%41.3%33.6%51.8%2.6%-6.0%63.3M-5.12B-48.8M0.733.22N/AN/A3,990,2802,922,33236,634,72434,698,048
2008-04-09$5.41$5.3639.1%15.0%37.4%34.4%52.4%2.8%-6.9%53.5M-4.64B-48.7M1.033.12N/AN/A2,514,2042,587,73236,819,60835,015,204
2008-04-10$5.52$5.3651.4%14.7%37.0%57.4%52.2%3.6%-7.0%78.7M-5.64B-49.0M1.152.66N/AN/A3,627,5404,175,16437,099,49635,440,160
2008-04-11$5.25$5.3654.2%15.5%42.4%62.7%53.5%3.0%-7.9%19.2M-3.25B-48.9M0.702.98N/AN/A5,226,1163,636,89237,412,70436,555,344
2008-04-14$5.28$5.3654.3%15.6%42.0%62.8%54.7%3.8%-7.8%40.4M-3.47B-48.3M0.943.58N/AN/A3,261,5243,054,07237,912,19636,286,432
2008-04-15$5.30$5.3654.1%15.5%41.9%62.5%54.5%4.0%-7.8%50.8M-3.67B-47.3M0.792.74N/AN/A2,678,1442,123,12837,828,84036,236,508
2008-04-16$5.49$5.3651.9%14.9%40.7%58.4%52.6%3.8%-7.1%92.3M-5.49B-47.3M0.722.24N/AN/A4,323,5643,124,85637,857,26036,326,304
2008-04-17$5.52$5.3650.5%14.5%39.0%55.7%50.5%3.9%-6.5%103.1M-5.69B-47.0M0.672.85N/AN/A3,573,6122,380,36437,830,68836,552,852
2008-04-18$5.75$5.3649.7%14.2%40.2%54.2%49.8%2.4%-6.4%111.6M-8.23B-46.7M0.452.21N/AN/A8,894,7044,016,51637,876,16036,660,960
2008-04-21$6.01$5.3659.0%16.9%39.9%71.7%59.7%3.0%-9.0%70.3M-6.02B-48.7M0.562.26N/AN/A7,498,0084,179,02824,355,82824,781,372
2008-04-22$5.72$5.3663.3%18.1%44.8%79.8%63.3%1.4%-11.1%54.8M-4.68B-48.5M0.722.10N/AN/A7,359,7165,310,22824,335,69624,779,132
2008-04-23$5.82$5.5460.5%17.3%44.2%74.5%60.4%3.6%-9.9%73.5M-5.23B-52.1M0.572.68N/AN/A9,328,9285,345,42427,867,08427,861,400
2008-04-24$6.03$5.5437.8%10.8%42.9%32.0%38.8%2.8%2.3%140.3M-6.99B-52.4M0.702.49N/AN/A10,001,2927,027,88830,690,01629,896,272
2008-04-25$6.06$5.5436.4%10.4%42.8%29.2%36.8%2.4%3.1%142.1M-7.21B-52.5M0.643.20N/AN/A4,124,5402,625,39231,266,70430,185,344
2008-04-28$6.15$5.5437.8%10.8%42.8%31.9%37.9%2.4%2.0%151.4M-7.77B-50.9M0.632.80N/AN/A3,353,3642,096,16430,926,33630,203,824
2008-04-29$6.25$5.7136.7%10.5%41.2%29.8%38.0%3.4%2.1%164.8M-8.37B-52.1M0.712.28N/AN/A5,119,4643,613,62431,129,86830,481,808
2008-04-30$6.21$5.7135.8%10.3%40.7%28.2%36.3%1.9%2.2%160.3M-8.11B-52.1M0.672.81N/AN/A6,473,7964,364,19231,775,57631,268,608