AAPL Options History — July 2008

In July 2008, AAPL traded between $5.51 and $6.41. ATM implied volatility averaged 44.3%, placing in the 34.5% IV rank vs the trailing year. The 30-day expected move averaged 13.0%. IV traded above realized volatility by 1.9% (HV 20d: 42.4%). Max pain ranged from $5.71 to $6.07. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.66.

Notable Days

  • 2008-07-22: Highest Volume — 18,216,520 contracts
  • 2008-07-22: Largest IV drop — 26.2% change
  • 2008-07-18: Highest IV Rank — 58.0%
  • 2008-07-18: Largest Expected Move — 15.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.99$5.51$6.41$6.24$5.68
Max Pain$5.93$5.71$6.07$5.71$5.71
ATM IV44.3%36.6%55.0%38.1%39.5%
Expected Move13.0%10.5%15.8%10.9%11.3%
HV 20d42.4%40.6%45.0%40.8%40.6%
HV 60d37.1%35.0%38.6%37.8%37.4%
IV Rank34.5%17.5%58.0%20.9%23.9%
IV Percentile53.2%12.7%90.1%24.6%32.1%
Term Structure-1.2%-8.7%8.6%8.5%0.4%
VWIV45.1%36.4%54.7%39.2%39.5%
Skew 25d5.2%2.9%7.3%4.3%3.4%
Skew 10d9.5%6.5%13.6%8.6%6.8%
Call IV 25d42.6%34.6%51.8%36.7%37.9%
Put IV 25d47.8%38.2%57.4%41.0%41.3%
Bid-Ask Spread %3.441.805.402.041.94
Gamma HHI0.090.050.520.080.05
Net GEX58.8M-258.5M165.6M125.3M33.9M
Net DEX-4.20B-7.86B-1.05B-6.33B-2.13B
Net VEX-47.7M-50.8M-44.1M-50.7M-46.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.660.481.010.620.64
Total Volume7,764,977.8184,046,44818,216,5209,226,7845,774,608
Total OI63,884,751.63647,656,70071,143,54866,840,62059,900,932

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-07-01$6.24$5.7138.1%10.9%40.8%20.9%39.2%4.3%8.5%125.3M-6.33B-50.7M0.622.04N/AN/A5,694,9763,531,80834,780,39632,060,224
2008-07-02$6.01$5.7140.8%11.7%42.7%26.7%41.1%2.9%8.0%70.3M-4.38B-50.6M0.751.80N/AN/A3,890,5442,935,77234,828,33232,394,516
2008-07-03$6.08$5.7141.1%11.8%41.9%27.4%41.4%3.5%8.6%82.7M-4.94B-50.8M0.722.38N/AN/A2,355,8361,690,61235,160,63632,828,012
2008-07-07$6.26$6.0742.5%14.1%43.2%30.5%49.1%5.9%-3.8%127.7M-6.47B-50.0M0.695.40N/AN/A4,391,1003,023,10435,336,05632,843,692
2008-07-08$6.41$6.0740.3%13.7%43.7%25.7%48.1%6.7%-3.2%165.6M-7.86B-49.9M0.653.83N/AN/A4,651,9483,035,73235,389,59233,145,112
2008-07-09$6.22$6.0745.3%14.6%44.0%36.7%50.3%6.1%-4.8%107.8M-6.06B-50.0M0.694.62N/AN/A4,086,3482,831,52835,178,36033,411,560
2008-07-10$6.31$6.0750.9%14.6%43.5%49.1%50.7%6.4%-4.4%133.1M-6.80B-50.3M0.594.82N/AN/A4,232,3962,507,90435,656,51633,739,832
2008-07-11$6.16$6.0750.7%14.5%41.5%48.6%50.9%6.8%-4.3%92.6M-5.44B-49.3M0.484.88N/AN/A4,588,8082,205,47635,813,23234,087,060
2008-07-14$6.21$6.0751.5%14.8%41.6%50.4%51.3%7.1%-5.0%120.6M-6.00B-48.4M0.555.24N/AN/A4,686,6122,576,14036,368,50034,180,020
2008-07-15$6.06$6.0752.7%15.1%41.4%53.1%52.2%7.2%-5.7%65.7M-4.40B-47.0M0.583.99N/AN/A4,651,1922,710,79236,625,42834,248,788
2008-07-16$6.17$6.0749.1%14.1%40.8%45.2%49.7%7.3%-3.7%89.0M-5.40B-46.8M0.534.56N/AN/A5,253,4162,764,46836,560,94434,247,864
2008-07-17$6.14$6.0750.7%14.5%40.6%48.7%50.0%7.3%-5.4%80.0M-5.23B-45.9M0.733.19N/AN/A4,306,4563,149,52436,729,50434,256,068
2008-07-18$5.90$6.0755.0%15.8%42.3%58.0%54.7%5.7%-8.7%-258.5M-2.92B-45.0M1.012.91N/AN/A4,823,7284,895,99636,658,46834,485,080
2008-07-21$5.94$6.0751.5%14.8%41.2%50.3%50.8%6.7%-6.9%29.3M-2.70B-44.3M0.683.53N/AN/A7,077,3644,823,42023,547,83224,108,868
2008-07-22$5.79$5.8938.0%10.9%41.9%20.6%37.9%3.5%1.5%20.7M-2.06B-44.1M0.703.48N/AN/A10,690,1767,526,34425,853,32425,887,596
2008-07-23$5.94$5.8936.6%10.5%43.2%17.5%36.4%3.6%1.3%67.6M-3.60B-47.0M0.592.97N/AN/A5,867,5403,439,74428,081,81627,445,880
2008-07-24$5.68$5.8940.7%11.7%44.6%26.5%40.7%3.5%0.2%23.8M-1.96B-47.3M0.672.96N/AN/A4,767,5603,172,45628,622,83227,743,912
2008-07-25$5.79$5.8937.2%10.7%41.7%18.9%37.2%3.6%1.6%46.8M-2.65B-47.4M0.582.57N/AN/A2,869,7201,675,91229,015,42027,965,812
2008-07-28$5.51$5.7143.8%12.5%44.5%33.3%43.5%3.7%-1.1%2.0M-1.05B-45.8M0.713.83N/AN/A4,207,8402,994,04029,434,30028,226,520
2008-07-29$5.61$5.7140.9%11.7%45.0%27.1%40.6%4.0%-0.3%22.4M-1.64B-46.4M0.682.46N/AN/A2,890,3001,973,13230,443,42028,729,484
2008-07-30$5.71$5.7137.4%10.7%42.5%19.2%37.6%4.2%1.4%45.7M-2.38B-46.7M0.682.33N/AN/A3,327,8282,279,31230,717,84828,724,948
2008-07-31$5.68$5.7139.5%11.3%40.6%23.9%39.5%3.4%0.4%33.9M-2.13B-46.6M0.641.94N/AN/A3,526,7962,247,81230,875,65629,025,276