AAPL Options History — August 2008

In August 2008, AAPL traded between $5.47 and $6.40. ATM implied volatility averaged 34.9%, placing in the 13.7% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 3.7% (HV 20d: 38.6%). Max pain ranged from $5.54 to $6.07. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 0.75.

Notable Days

  • 2008-08-11: Highest Volume — 11,979,268 contracts
  • 2008-08-04: Largest IV spike — 12.1% change
  • 2008-08-04: Highest IV Rank — 24.5%
  • 2008-08-04: Largest Expected Move — 11.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.11$5.47$6.40$5.59$6.05
Max Pain$5.89$5.54$6.07$5.71$6.07
ATM IV34.9%31.3%39.8%35.5%34.4%
Expected Move10.2%9.0%11.4%10.2%9.9%
HV 20d38.6%30.6%44.0%40.4%31.6%
HV 60d38.4%37.3%39.5%37.3%38.2%
IV Rank13.7%6.0%24.5%15.1%12.8%
IV Percentile9.7%0.4%33.7%9.1%7.9%
Term Structure2.7%0.9%4.7%3.6%3.9%
VWIV35.8%31.6%39.9%35.2%34.3%
Skew 25d3.1%2.1%4.4%2.1%3.0%
Skew 10d5.6%4.1%7.8%4.4%6.1%
Call IV 25d34.1%30.1%38.1%34.4%33.0%
Put IV 25d37.2%33.2%41.8%36.5%36.1%
Bid-Ask Spread %2.571.894.742.352.19
Gamma HHI0.080.050.140.050.06
Net GEX114.5M-8.2M205.9M15.1M77.2M
Net DEX-5.02B-8.32B-657.3M-1.51B-3.81B
Net VEX-44.4M-45.6M-42.7M-45.1M-42.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.541.040.660.67
Total Volume5,385,9802,622,03211,979,2684,724,0764,577,440
Total OI58,592,657.33351,983,48464,808,38060,485,57256,201,040

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-08-01$5.59$5.7135.5%10.2%40.4%15.1%35.2%2.1%3.6%15.1M-1.51B-45.1M0.662.35N/AN/A2,843,1201,880,95631,254,49629,231,076
2008-08-04$5.47$5.7139.8%11.4%38.9%24.5%39.9%3.7%1.3%-8.2M-657.3M-43.5M1.044.74N/AN/A2,479,3442,578,29631,538,78029,361,304
2008-08-05$5.74$5.5438.6%11.1%42.0%22.0%38.8%4.4%1.4%56.6M-2.60B-45.3M0.702.91N/AN/A3,841,6282,692,34031,583,63629,458,464
2008-08-06$5.86$5.7137.6%11.0%42.0%19.7%38.8%3.7%0.9%92.2M-3.67B-45.3M0.632.74N/AN/A5,035,1003,150,78431,686,25629,701,308
2008-08-07$5.84$5.7135.5%10.9%41.6%15.2%37.9%3.9%1.4%108.0M-3.66B-45.5M0.873.45N/AN/A3,058,5802,653,05632,426,26829,851,192
2008-08-08$6.06$5.7132.6%10.4%43.2%8.7%36.9%3.9%1.8%173.9M-5.51B-45.5M0.672.62N/AN/A4,141,2002,761,64032,559,68829,996,624
2008-08-11$6.20$5.7134.5%10.6%44.0%13.1%37.2%3.1%1.5%195.5M-6.77B-44.8M0.652.35N/AN/A7,282,2404,697,02832,372,92830,190,888
2008-08-12$6.31$5.8935.6%10.7%43.4%15.4%37.3%2.7%1.4%201.9M-7.69B-45.4M0.902.37N/AN/A4,101,3283,708,57232,508,25230,891,252
2008-08-13$6.40$5.8933.7%10.8%43.2%11.1%38.0%3.0%1.6%202.5M-8.26B-45.4M0.552.95N/AN/A5,393,3602,948,37232,401,32031,187,184
2008-08-14$6.40$5.8936.8%10.5%43.1%17.9%37.3%3.8%2.9%205.9M-8.32B-45.6M0.731.99N/AN/A4,315,4163,149,18832,747,65231,464,104
2008-08-15$6.28$5.8935.3%10.1%41.2%14.8%35.4%2.4%2.6%119.1M-7.22B-44.7M0.702.38N/AN/A4,688,5163,300,33232,956,28031,852,100
2008-08-18$6.26$5.8935.4%10.2%41.2%15.0%35.6%2.7%3.1%102.3M-5.26B-44.5M0.982.79N/AN/A1,915,5921,885,71626,568,52825,414,956
2008-08-19$6.20$5.8935.9%10.3%40.1%15.9%36.0%3.0%3.1%94.4M-4.84B-44.3M0.812.33N/AN/A1,710,8001,383,53626,931,99625,829,664
2008-08-20$6.28$6.0734.0%9.7%39.4%11.7%34.1%2.6%3.7%110.8M-5.37B-44.3M0.882.05N/AN/A1,396,6681,225,36427,169,07226,080,404
2008-08-21$6.22$6.0733.4%9.6%35.6%10.4%33.6%2.7%3.8%105.8M-5.01B-43.9M0.652.42N/AN/A1,904,6721,229,34027,388,73226,221,860
2008-08-22$6.31$6.0732.2%9.2%35.4%7.8%32.3%2.5%3.7%125.4M-5.69B-43.3M0.862.02N/AN/A1,478,8481,277,86427,634,57226,486,180
2008-08-25$6.16$6.0735.5%10.2%31.3%15.2%36.3%2.7%2.8%97.2M-4.65B-43.5M0.892.55N/AN/A1,901,6481,692,43227,825,95226,637,212
2008-08-26$6.20$6.0732.9%9.4%31.0%9.5%33.4%3.0%3.8%104.2M-4.91B-43.3M0.662.82N/AN/A1,772,4001,160,99228,172,62027,141,212
2008-08-27$6.24$6.0731.3%9.0%30.6%6.0%31.6%3.0%4.7%116.7M-5.12B-43.1M0.752.15N/AN/A1,670,6761,260,61628,333,84427,283,732
2008-08-28$6.21$6.0731.4%9.0%30.6%6.1%31.7%3.5%4.2%108.2M-4.81B-43.0M0.541.89N/AN/A1,918,6441,041,93628,368,84427,534,332
2008-08-29$6.05$6.0734.4%9.9%31.6%12.8%34.3%3.0%3.9%77.2M-3.81B-42.7M0.672.19N/AN/A2,741,6761,835,76428,551,40427,649,636