AAPL Options History — December 2008

In December 2008, AAPL traded between $3.04 and $3.57. ATM implied volatility averaged 63.7%, placing in the 38.6% IV rank vs the trailing year. The 30-day expected move averaged 18.4%. IV traded below realized volatility by 7.0% (HV 20d: 70.7%). Max pain ranged from $3.21 to $4.29. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.93.

Notable Days

  • 2008-12-17: Highest Volume — 9,563,148 contracts
  • 2008-12-05: Largest IV drop — 13.1% change
  • 2008-12-01: Highest IV Rank — 58.9%
  • 2008-12-01: Largest Expected Move — 23.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.27$3.04$3.57$3.18$3.05
Max Pain$3.99$3.21$4.29$3.39$3.93
ATM IV63.7%55.3%80.7%80.7%58.5%
Expected Move18.4%15.8%23.1%23.1%16.8%
HV 20d70.7%50.4%80.4%78.0%50.4%
HV 60d87.5%76.7%93.1%90.8%76.7%
IV Rank38.6%28.5%58.9%58.9%32.5%
IV Percentile76.6%66.7%91.7%91.7%68.3%
Term Structure3.4%0.4%5.8%1.4%4.2%
VWIV64.8%54.8%80.5%80.5%58.6%
Skew 25d10.6%6.6%17.5%14.5%6.6%
Skew 10d20.7%12.9%33.1%28.7%12.9%
Call IV 25d59.4%52.1%74.4%74.4%56.4%
Put IV 25d70.0%59.4%88.9%88.9%63.0%
Bid-Ask Spread %2.731.823.643.161.82
Gamma HHI0.110.060.210.070.16
Net GEX-17.3M-37.4M-2.6M-14.5M-17.3M
Net DEX2.28B1.10B3.00B2.37B2.74B
Net VEX-16.8M-20.7M-12.8M-18.4M-12.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.930.541.501.090.57
Total Volume4,073,035.2731,200,8649,563,1483,058,5523,201,044
Total OI60,017,130.72755,407,74464,570,49258,045,82058,489,844

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-12-01$3.18$3.3980.7%23.1%78.0%58.9%80.5%14.5%1.4%-14.5M2.37B-18.4M1.093.16N/AN/A1,464,4561,594,09634,574,70823,471,112
2008-12-02$3.30$3.2176.7%22.0%79.9%54.2%77.4%17.5%1.1%-13.5M2.12B-19.0M1.243.31N/AN/A1,886,3322,341,13634,823,40423,607,696
2008-12-03$3.42$3.2168.9%19.7%79.8%44.8%73.0%17.1%3.8%-11.9M1.75B-20.2M1.102.90N/AN/A2,391,7322,622,67635,107,71624,088,316
2008-12-04$3.26$3.2173.5%21.1%77.7%50.3%72.4%11.5%3.4%-14.7M2.12B-19.4M0.772.89N/AN/A1,909,5161,479,35235,555,74424,305,680
2008-12-05$3.36$4.2963.8%20.2%77.4%38.8%71.0%14.1%3.5%-10.7M1.89B-19.7M1.503.35N/AN/A1,044,2881,562,26035,800,12824,193,288
2008-12-08$3.56$4.2964.8%19.0%80.4%39.9%66.3%12.8%1.8%-4.6M1.20B-20.3M0.902.70N/AN/A2,471,7282,233,28035,912,32424,542,280
2008-12-09$3.57$4.2966.0%19.4%79.8%41.4%67.2%12.5%1.7%-2.6M1.10B-20.7M1.112.94N/AN/A2,009,2802,222,30436,356,06824,820,348
2008-12-10$3.51$4.2963.5%19.1%80.0%38.3%68.6%12.7%1.9%-7.7M1.49B-19.9M0.783.00N/AN/A2,819,2922,211,77636,515,22025,137,784
2008-12-11$3.39$4.2968.5%19.6%78.8%44.4%67.4%11.2%1.3%-14.7M1.93B-19.0M1.122.75N/AN/A2,080,0642,337,44036,799,16825,631,088
2008-12-12$3.51$4.2962.9%18.0%75.9%37.6%65.3%10.3%3.7%-7.7M1.51B-19.4M0.572.94N/AN/A3,169,2641,793,90436,822,52025,498,676
2008-12-15$3.38$4.2967.4%19.3%73.1%43.0%68.4%11.1%1.9%-19.4M2.09B-17.9M1.342.04N/AN/A1,502,1722,012,92036,853,65625,979,968
2008-12-16$3.41$4.2962.0%17.8%72.5%36.6%64.9%10.4%3.4%-17.2M2.08B-17.4M1.403.64N/AN/A1,723,2322,404,92036,925,36426,069,708
2008-12-17$3.18$4.2965.6%18.8%76.5%40.9%65.5%9.6%0.4%-36.5M3.00B-15.7M0.672.76N/AN/A5,726,8963,836,25237,029,24426,733,364
2008-12-18$3.19$4.2959.4%17.0%75.0%33.5%60.2%7.9%4.6%-28.9M2.86B-15.3M0.652.60N/AN/A2,803,8641,818,54437,776,31226,318,124
2008-12-19$3.21$4.1155.3%15.8%70.1%28.5%55.2%6.6%5.4%-37.4M2.85B-14.9M0.772.14N/AN/A2,833,7122,176,35637,971,86426,598,628
2008-12-22$3.06$4.1158.5%16.8%72.2%32.4%58.8%8.7%5.8%-22.6M2.99B-13.4M0.942.66N/AN/A2,447,1162,290,45633,086,06022,321,684
2008-12-23$3.08$4.1156.3%16.1%57.7%29.7%56.2%7.7%5.8%-20.6M2.82B-13.8M0.932.46N/AN/A1,333,6961,233,90433,903,12822,508,220
2008-12-24$3.04$3.9356.2%16.1%57.4%29.7%56.5%7.8%4.9%-20.6M2.89B-13.3M0.722.88N/AN/A895,860644,64434,171,34022,522,304
2008-12-26$3.06$3.9355.4%15.9%54.8%28.7%54.8%7.2%5.7%-20.2M2.81B-13.3M0.542.55N/AN/A778,064422,80034,366,52822,572,564
2008-12-29$3.09$3.9358.6%16.8%54.5%32.5%57.7%7.4%4.3%-19.0M2.72B-13.2M0.712.43N/AN/A1,411,3961,007,80434,550,20822,539,804
2008-12-30$3.08$3.9358.6%16.8%52.6%32.5%59.9%8.0%3.9%-19.0M2.78B-13.0M1.012.11N/AN/A2,712,7522,744,19634,828,66822,697,024
2008-12-31$3.05$3.9358.5%16.8%50.4%32.5%58.6%6.6%4.2%-17.3M2.74B-12.8M0.571.82N/AN/A2,037,3081,163,73635,613,62022,876,224