AAPL Options History — March 2009

In March 2009, AAPL traded between $2.97 and $3.92. ATM implied volatility averaged 49.5%, placing in the 21.7% IV rank vs the trailing year. The 30-day expected move averaged 14.1%. IV traded above realized volatility by 1.4% (HV 20d: 48.1%). Max pain ranged from $3.21 to $3.57. Net GEX was positive for 17 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.97.

Notable Days

  • 2009-03-06: Highest Volume — 7,680,904 contracts
  • 2009-03-10: Largest IV drop — 12.5% change
  • 2009-03-09: Highest IV Rank — 37.9%
  • 2009-03-09: Largest Expected Move — 16.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.48$2.97$3.92$3.14$3.75
Max Pain$3.35$3.21$3.57$3.21$3.57
ATM IV49.5%43.0%63.1%55.4%43.8%
Expected Move14.1%12.3%16.6%15.9%12.5%
HV 20d48.1%43.7%52.4%44.1%49.0%
HV 60d48.2%46.6%49.5%49.0%47.3%
IV Rank21.7%13.9%37.9%28.7%14.8%
IV Percentile54.1%38.5%77.8%68.3%39.7%
Term Structure1.9%-2.1%7.5%-2.1%6.6%
VWIV49.9%43.6%58.2%56.0%45.1%
Skew 25d8.2%4.7%10.8%8.7%6.3%
Skew 10d16.4%9.9%21.4%17.5%12.2%
Call IV 25d45.7%40.2%53.9%52.1%41.3%
Put IV 25d53.8%45.6%64.7%60.8%47.6%
Bid-Ask Spread %2.691.873.743.742.25
Gamma HHI0.150.100.260.120.10
Net GEX24.4M-18.3M60.4M-7.7M32.6M
Net DEX-770.9M-2.30B1.34B676.8M-1.47B
Net VEX-17.7M-20.0M-15.3M-16.6M-19.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.970.621.570.871.46
Total Volume5,371,768.1822,803,7247,680,9044,462,6685,618,088
Total OI41,463,192.90935,820,79245,605,84039,928,61640,665,296

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-03-02$3.14$3.2155.4%15.9%44.1%28.7%56.0%8.7%-2.1%-7.7M676.8M-16.6M0.873.74N/AN/A2,386,9442,075,72421,890,20418,038,412
2009-03-03$3.16$3.2154.9%15.7%43.7%28.1%56.2%8.2%-1.1%-7.5M610.0M-16.8M1.043.42N/AN/A2,104,6202,179,85621,949,48018,149,768
2009-03-04$3.26$3.2152.8%15.1%44.9%25.6%52.4%7.6%-0.7%2.2M158.1M-16.9M0.722.70N/AN/A2,814,1682,026,41622,146,57218,158,560
2009-03-05$3.17$3.2155.6%15.9%45.6%29.0%56.2%8.5%-1.3%-5.0M521.0M-16.8M0.882.88N/AN/A2,091,6561,830,38822,457,76418,435,396
2009-03-06$3.05$3.3958.2%16.5%45.8%32.0%57.2%10.2%-0.6%-13.9M1.02B-15.9M0.952.69N/AN/A3,946,1243,734,78022,713,48818,496,184
2009-03-09$2.97$3.2163.1%16.6%43.8%37.9%58.2%10.8%-1.8%-18.3M1.34B-15.3M0.852.18N/AN/A2,868,8242,438,94023,433,28419,011,412
2009-03-10$3.17$3.2155.2%15.0%49.4%28.5%53.4%9.6%0.1%1.7M451.3M-16.2M0.842.67N/AN/A3,391,8082,858,99623,690,10018,687,088
2009-03-11$3.31$3.2149.4%14.3%50.4%21.6%51.2%9.8%0.2%19.3M-270.8M-16.8M0.792.65N/AN/A4,151,5603,280,48023,572,10818,700,528
2009-03-12$3.44$3.3950.0%14.3%52.4%22.3%50.9%9.9%-0.1%32.8M-829.9M-17.2M0.862.25N/AN/A3,694,1803,169,54423,530,19219,164,180
2009-03-13$3.43$3.3948.6%13.9%51.5%20.6%48.0%9.4%0.7%29.8M-684.0M-17.1M0.982.11N/AN/A2,494,0162,449,80423,650,92819,729,248
2009-03-16$3.41$3.3949.1%14.1%51.6%21.2%48.9%9.9%0.8%28.6M-571.9M-17.0M1.382.77N/AN/A1,893,3322,610,52424,047,10020,027,868
2009-03-17$3.56$3.3945.6%13.1%51.0%17.0%47.4%8.7%1.4%53.0M-1.45B-17.5M0.973.17N/AN/A3,530,6043,407,57224,379,60020,163,640
2009-03-18$3.63$3.3946.0%13.2%51.2%17.5%46.4%8.5%1.3%59.0M-1.90B-17.9M0.732.50N/AN/A2,477,4401,803,48024,511,87220,406,512
2009-03-19$3.63$3.3946.8%13.4%48.6%18.4%47.5%7.8%1.7%60.4M-1.92B-17.7M1.013.44N/AN/A2,808,4002,846,64824,705,12820,617,604
2009-03-20$3.63$3.3947.0%13.5%48.6%18.7%47.3%8.1%2.7%53.0M-1.83B-17.8M1.192.27N/AN/A2,681,6163,180,68824,712,77220,893,068
2009-03-23$3.84$3.3944.0%12.6%47.8%15.2%47.2%7.6%4.4%32.5M-1.81B-18.2M0.622.48N/AN/A3,521,3362,167,67619,971,84015,848,952
2009-03-24$3.81$3.3946.7%13.4%47.2%18.4%47.0%6.2%4.4%35.8M-1.82B-18.9M0.862.96N/AN/A3,380,9162,901,66820,953,68816,317,224
2009-03-25$3.80$3.3945.1%12.9%47.3%16.4%45.6%6.2%5.7%35.0M-1.72B-19.4M0.672.76N/AN/A2,950,1641,966,97221,192,72417,038,728
2009-03-26$3.92$3.3943.0%12.3%46.7%13.9%44.4%7.1%5.8%45.3M-2.30B-19.8M1.113.03N/AN/A2,789,8923,101,53222,031,88417,314,136
2009-03-27$3.82$3.5743.3%12.4%48.5%14.2%43.6%4.7%7.5%37.0M-1.80B-20.0M1.002.34N/AN/A1,401,3721,402,35222,406,27218,047,680
2009-03-30$3.73$3.3945.6%13.1%49.1%17.1%46.7%5.8%6.4%30.8M-1.36B-19.4M1.571.87N/AN/A1,455,7202,292,08022,479,88417,851,876
2009-03-31$3.75$3.5743.8%12.5%49.0%14.8%45.1%6.3%6.6%32.6M-1.47B-19.2M1.462.25N/AN/A2,280,3483,337,74022,532,16018,133,136