AAPL Options History — November 2008

In November 2008, AAPL traded between $2.87 and $3.96. ATM implied volatility averaged 75.1%, placing in the 52.2% IV rank vs the trailing year. The 30-day expected move averaged 21.4%. IV traded below realized volatility by 5.6% (HV 20d: 80.7%). Max pain ranged from $3.21 to $3.75. Net GEX was positive for 2 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.85.

Notable Days

  • 2008-11-13: Highest Volume — 9,333,520 contracts
  • 2008-11-24: Largest IV drop — 14.3% change
  • 2008-11-20: Highest IV Rank — 78.1%
  • 2008-11-20: Largest Expected Move — 27.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.36$2.87$3.96$3.82$3.31
Max Pain$3.54$3.21$3.75$3.57$3.39
ATM IV75.1%59.9%96.8%66.8%69.4%
Expected Move21.4%17.2%27.7%19.1%19.9%
HV 20d80.7%71.5%95.6%95.6%77.5%
HV 60d84.7%80.7%90.7%80.7%90.6%
IV Rank52.2%34.1%78.1%42.3%45.4%
IV Percentile91.1%82.5%96.8%90.1%86.9%
Term Structure0.4%-1.2%3.8%-0.1%3.8%
VWIV74.9%61.3%94.3%66.7%71.9%
Skew 25d13.0%8.8%16.3%10.3%13.4%
Skew 10d26.2%17.3%34.4%21.9%25.9%
Call IV 25d68.9%55.3%88.8%61.5%64.8%
Put IV 25d81.9%65.5%104.9%71.8%78.2%
Bid-Ask Spread %3.582.805.503.513.15
Gamma HHI0.070.040.120.050.07
Net GEX-12.6M-31.8M15.2M9.7M-13.4M
Net DEX2.24B-73.8M3.66B469.8M2.12B
Net VEX-21.4M-27.4M-17.5M-27.3M-19.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.850.551.251.040.99
Total Volume5,627,050.9471,192,9689,333,5204,188,1841,192,968
Total OI65,710,691.78956,119,64471,242,61264,907,75258,123,380

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-11-03$3.82$3.5766.8%19.1%95.6%42.3%66.7%10.3%-0.1%9.7M469.8M-27.3M1.043.51N/AN/A2,053,1282,135,05638,513,04826,394,704
2008-11-04$3.96$3.5759.9%17.2%88.5%34.1%61.3%10.2%1.0%15.2M-73.8M-27.4M0.752.98N/AN/A2,436,2801,834,78438,544,63226,654,964
2008-11-05$3.69$3.5764.1%18.4%93.2%39.1%64.3%8.8%-0.8%-921.0K1.22B-25.0M0.663.38N/AN/A3,025,5402,007,26438,910,28426,938,996
2008-11-06$3.54$3.5769.6%20.0%94.6%45.7%70.9%10.5%-0.8%-6.2M1.81B-23.9M0.833.50N/AN/A3,573,4722,968,22439,244,04427,041,476
2008-11-07$3.51$3.7566.4%19.4%89.6%41.8%67.7%12.2%0.1%-7.3M2.02B-23.0M0.693.27N/AN/A3,114,7762,141,91639,730,20827,339,676
2008-11-10$3.42$3.7575.1%21.1%75.8%52.3%71.5%13.0%-1.2%-11.5M2.31B-21.6M0.552.80N/AN/A4,039,5322,204,86039,786,09627,186,684
2008-11-11$3.38$3.7575.3%20.9%73.4%52.5%72.9%13.0%-0.3%-12.8M2.42B-21.1M1.183.24N/AN/A2,328,3122,748,36839,944,43627,181,840
2008-11-12$3.22$3.5782.4%22.7%72.4%60.9%77.8%13.6%-1.0%-21.2M2.90B-20.0M0.862.86N/AN/A2,713,9562,343,82440,031,29227,414,324
2008-11-13$3.44$3.5772.6%20.8%75.3%49.3%73.1%12.8%-0.0%-9.3M2.11B-21.8M0.874.60N/AN/A4,997,3844,336,13640,358,16427,474,020
2008-11-14$3.22$3.5777.2%22.1%77.3%54.7%75.8%12.3%0.1%-19.8M2.85B-20.4M0.904.12N/AN/A3,909,0803,507,89640,915,33627,744,136
2008-11-17$3.15$3.5779.8%22.9%77.4%57.9%79.5%12.8%-1.1%-24.5M3.10B-19.2M0.863.78N/AN/A3,275,2442,811,06041,501,65627,968,500
2008-11-18$3.21$3.5779.2%22.7%73.5%57.2%79.8%12.5%0.7%-24.7M2.89B-20.2M0.743.38N/AN/A3,619,1122,675,82041,659,85628,350,448
2008-11-19$3.08$3.5784.8%24.3%71.5%63.8%83.0%13.9%-0.2%-28.8M3.26B-19.2M1.123.17N/AN/A3,317,8883,703,28042,345,85628,415,520
2008-11-20$2.87$3.5796.8%27.7%74.5%78.1%94.3%16.0%-0.4%-31.8M3.66B-17.5M1.255.50N/AN/A3,479,2804,355,23242,541,49228,404,068
2008-11-21$2.95$3.3986.4%24.8%75.5%65.7%88.1%16.3%0.7%-14.2M3.55B-17.6M0.773.76N/AN/A3,008,0122,315,88043,069,74028,172,872
2008-11-24$3.32$3.3974.0%21.2%86.2%50.9%77.8%15.1%1.6%-12.6M2.02B-20.5M0.693.74N/AN/A4,195,9122,878,45633,595,07222,524,572
2008-11-25$3.24$3.2176.4%21.9%81.1%53.7%75.5%15.0%2.4%-12.7M2.13B-19.9M0.784.04N/AN/A2,393,4681,876,50434,109,65623,045,288
2008-11-26$3.39$3.3970.5%20.2%81.0%46.7%71.5%14.9%3.4%-11.9M1.83B-20.7M0.673.20N/AN/A2,036,3001,359,76434,129,50823,197,300
2008-11-28$3.31$3.3969.4%19.9%77.5%45.4%71.9%13.4%3.8%-13.4M2.12B-19.9M0.993.15N/AN/A599,592593,37634,596,52023,526,860