AAPL Options History — September 2008

In September 2008, AAPL traded between $3.76 and $5.96. ATM implied volatility averaged 55.4%, placing in the 51.8% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded above realized volatility by 12.5% (HV 20d: 43.0%). Max pain ranged from $5.00 to $6.07. Net GEX was positive for 6 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.72.

Notable Days

  • 2008-09-29: Highest Volume — 15,383,480 contracts
  • 2008-09-29: Largest IV spike — 80.8% change
  • 2008-09-29: Highest IV Rank — 100.0%
  • 2008-09-29: Largest Expected Move — 33.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.04$3.76$5.96$5.94$4.06
Max Pain$5.53$5.00$6.07$6.07$5.00
ATM IV55.4%39.5%115.1%39.5%85.7%
Expected Move15.9%11.3%33.0%11.3%24.6%
HV 20d43.0%24.5%93.4%31.4%93.4%
HV 60d42.7%37.1%62.0%38.2%62.0%
IV Rank51.8%23.9%100.0%23.9%65.9%
IV Percentile77.4%36.1%100.0%36.1%99.6%
Term Structure-1.4%-17.3%3.9%1.6%-7.0%
VWIV55.2%38.9%108.6%38.9%85.5%
Skew 25d6.6%3.0%19.3%3.7%13.9%
Skew 10d12.1%5.9%33.4%7.5%24.6%
Call IV 25d52.0%37.7%100.8%37.7%77.9%
Put IV 25d58.6%41.4%120.2%41.4%91.8%
Bid-Ask Spread %3.871.928.001.924.27
Gamma HHI0.060.050.070.060.06
Net GEX-7.4M-50.6M61.7M51.4M-22.9M
Net DEX800.3M-3.17B3.92B-2.94B3.15B
Net VEX-36.2M-42.8M-27.7M-42.6M-30.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.720.281.360.631.36
Total Volume8,687,0805,314,34415,383,4806,224,76410,548,972
Total OI61,171,71656,063,95267,829,46856,869,00865,291,436

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-09-02$5.94$6.0739.5%11.3%31.4%23.9%38.9%3.7%1.6%51.4M-2.94B-42.6M0.631.92N/AN/A3,812,5642,412,20028,981,40027,887,608
2008-09-03$5.96$6.0740.6%11.6%27.0%26.3%40.1%4.9%1.2%61.7M-3.17B-42.8M0.562.43N/AN/A3,407,8241,906,52029,532,07628,078,932
2008-09-04$5.76$5.8944.0%12.6%28.9%33.9%43.6%3.0%-0.3%25.0M-1.85B-41.8M0.482.06N/AN/A4,491,9842,177,86829,825,65627,995,240
2008-09-05$5.72$5.8941.0%12.2%28.9%27.3%43.0%3.1%3.9%20.2M-1.56B-41.1M0.633.34N/AN/A3,968,0762,504,15230,483,62828,034,104
2008-09-08$5.64$5.8944.0%12.4%25.7%33.9%43.4%3.8%3.2%4.9M-1.00B-39.8M0.284.45N/AN/A8,961,1202,500,03630,672,15227,943,160
2008-09-09$5.42$5.8947.1%13.0%26.8%40.6%45.7%4.8%2.2%-25.7M429.5M-38.4M0.863.91N/AN/A5,653,0324,839,66032,108,63628,267,568
2008-09-10$5.41$5.7143.2%12.7%25.3%32.0%44.8%4.5%2.0%-19.4M279.3M-38.1M0.823.33N/AN/A5,145,3084,214,47633,053,16028,060,676
2008-09-11$5.45$5.7144.0%12.6%24.5%33.7%45.2%4.5%1.7%-3.8M-65.2M-38.3M0.774.63N/AN/A3,858,9322,977,38033,696,54428,288,736
2008-09-12$5.32$5.7145.6%13.1%25.0%37.4%45.4%4.8%0.8%-15.7M719.7M-37.3M0.603.57N/AN/A4,835,8242,887,27634,131,55228,018,256
2008-09-15$5.01$5.7150.5%14.5%30.5%48.1%50.0%4.0%-1.8%-41.7M2.28B-34.2M0.383.36N/AN/A6,396,9362,449,02034,822,78828,110,880
2008-09-16$5.00$5.7148.9%14.0%30.5%44.6%49.3%5.5%-0.0%-37.8M2.37B-34.3M0.705.60N/AN/A6,153,8964,293,46435,660,94027,957,888
2008-09-17$4.57$5.5462.4%17.9%41.3%74.3%61.3%10.9%-8.2%-50.6M3.92B-31.3M0.604.52N/AN/A7,803,9364,661,32836,061,59228,254,660
2008-09-18$4.79$5.5454.3%15.6%46.1%56.5%56.4%5.5%-3.4%-28.5M2.58B-34.7M0.668.00N/AN/A8,043,3365,299,89638,392,14428,093,660
2008-09-19$5.03$5.1852.7%15.1%51.2%53.0%52.8%6.6%-3.1%9.3M577.4M-37.1M0.622.15N/AN/A5,429,5643,376,52039,541,88028,287,588
2008-09-22$4.68$5.1860.7%17.4%54.8%70.5%59.3%6.2%-0.1%-9.8M1.23B-33.7M0.795.24N/AN/A3,175,6482,507,09231,533,62824,530,324
2008-09-23$4.53$5.1862.8%18.0%55.1%75.2%61.5%5.6%-2.3%-18.4M1.97B-32.5M0.762.36N/AN/A4,454,9403,383,63232,894,59625,171,636
2008-09-24$4.60$5.1859.4%17.0%55.6%67.8%59.9%7.0%-0.6%-12.1M1.59B-34.0M1.232.97N/AN/A3,021,7323,709,04834,241,36825,697,504
2008-09-25$4.71$5.0058.9%16.9%56.9%66.6%59.1%8.8%-1.0%-3.7M1.05B-35.1M0.953.25N/AN/A2,962,2322,804,22834,854,48426,028,100
2008-09-26$4.58$5.0063.7%18.3%57.0%77.2%64.5%7.8%-1.6%-15.2M1.54B-34.9M0.773.40N/AN/A3,406,2842,609,26435,114,32426,628,672
2008-09-29$3.76$5.00115.1%33.0%86.3%100.0%108.6%19.3%-17.3%-23.2M3.72B-27.7M0.756.46N/AN/A8,772,7646,610,71635,632,21226,744,648
2008-09-30$4.06$5.0085.7%24.6%93.4%65.9%85.5%13.9%-7.0%-22.9M3.15B-30.7M1.364.27N/AN/A4,479,1046,069,86837,639,16827,652,268