AAPL Options History — March 2011

In March 2011, AAPL traded between $11.79 and $12.86. ATM implied volatility averaged 27.0%, placing in the 27.8% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded above realized volatility by 1.8% (HV 20d: 25.3%). Max pain ranged from $11.79 to $12.14. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 23 of 23 days. Put/call ratio averaged 0.71.

Notable Days

  • 2011-03-16: Highest Volume — 16,695,084 contracts
  • 2011-03-16: Largest IV spike — 29.4% change
  • 2011-03-16: Highest IV Rank — 62.0%
  • 2011-03-16: Largest Expected Move — 11.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.41$11.79$12.86$12.48$12.45
Max Pain$12.00$11.79$12.14$12.14$12.14
ATM IV27.0%20.4%39.1%33.1%21.4%
Expected Move7.9%6.3%11.2%8.1%6.6%
HV 20d25.3%21.1%30.0%21.7%26.1%
HV 60d21.2%18.4%23.8%18.4%23.4%
IV Rank27.8%9.0%62.0%44.9%11.6%
IV Percentile43.9%6.7%91.3%79.4%10.7%
Term Structure3.7%0.2%6.6%1.3%6.6%
VWIV27.9%22.5%37.8%28.6%23.5%
Skew 25d5.6%3.4%9.6%5.9%3.4%
Skew 10d11.1%6.6%18.6%11.7%6.6%
Call IV 25d24.9%20.3%34.2%25.7%21.8%
Put IV 25d30.6%23.8%43.9%31.6%25.3%
Bid-Ask Spread %5.693.309.874.285.64
Gamma HHI0.130.070.820.070.08
Net GEX444.1M-337.6M5.08B298.5M270.6M
Net DEX-9.03B-14.99B-537.0M-9.68B-9.75B
Net VEX-80.9M-83.5M-78.9M-83.5M-79.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.551.060.640.69
Total Volume10,160,870.0875,869,92016,695,0849,096,3605,869,920
Total OI50,188,593.91344,660,47656,892,27648,125,56050,047,396

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-03-01$12.48$12.1433.1%8.1%21.7%44.9%28.6%5.9%1.3%298.5M-9.68B-83.5M0.644.28N/AN/A5,537,8403,558,52027,117,80421,007,756
2011-03-02$12.58$12.1425.1%7.2%21.1%22.3%25.1%4.1%2.4%401.0M-11.11B-82.3M0.584.59N/AN/A7,306,2364,231,19227,542,39621,528,724
2011-03-03$12.84$12.1421.8%6.3%22.2%12.9%22.5%3.5%2.7%718.2M-14.99B-80.1M0.653.95N/AN/A7,446,5164,809,98027,987,34422,121,764
2011-03-04$12.86$11.7920.4%7.2%22.2%9.0%26.5%4.8%3.7%5.08B-14.60B-80.5M0.746.59N/AN/A6,198,2204,559,77227,891,47222,715,924
2011-03-07$12.69$11.9625.4%7.8%22.6%23.3%27.8%5.4%3.2%333.5M-11.43B-80.6M0.834.57N/AN/A5,309,8924,402,16026,923,98821,759,220
2011-03-08$12.71$11.9622.0%7.5%22.0%13.3%26.3%5.4%3.3%398.6M-11.94B-80.1M0.597.05N/AN/A4,346,9442,560,96427,969,78822,602,412
2011-03-09$12.59$11.9623.8%7.7%22.0%18.5%26.7%5.0%3.6%237.1M-10.11B-80.1M0.619.87N/AN/A4,909,5762,982,78428,207,90022,818,880
2011-03-10$12.38$11.9629.2%8.4%22.5%34.0%29.3%5.3%3.5%55.9M-7.35B-80.7M0.679.27N/AN/A6,072,0244,087,41228,586,26422,938,636
2011-03-11$12.57$11.9627.3%7.8%23.0%28.5%27.6%6.5%4.0%328.2M-11.08B-80.3M0.696.70N/AN/A5,792,5283,988,54429,473,94823,260,356
2011-03-14$12.63$11.9627.2%7.8%22.9%28.1%28.3%6.5%4.3%379.2M-11.56B-78.9M0.656.56N/AN/A5,785,1643,753,09228,511,50422,431,304
2011-03-15$12.34$11.9630.2%8.7%24.1%36.8%30.1%6.3%3.7%94.0M-7.48B-79.3M0.606.15N/AN/A8,216,8804,951,21229,022,86822,936,284
2011-03-16$11.79$11.9639.1%11.2%28.6%62.0%37.8%9.6%0.2%-171.8M-537.0M-80.5M0.553.30N/AN/A10,758,3845,936,70029,936,70423,589,496
2011-03-17$11.95$11.9634.5%9.9%29.0%48.9%34.2%7.4%3.0%-131.5M-2.94B-82.4M0.865.94N/AN/A8,539,3007,381,55631,613,12024,126,732
2011-03-18$11.81$11.9634.9%10.0%28.9%50.1%34.6%7.5%2.3%-337.6M-754.0M-81.2M1.067.06N/AN/A7,971,8808,446,39632,197,73224,694,544
2011-03-21$12.12$11.9629.2%8.4%30.0%33.9%29.7%6.5%3.8%127.8M-6.13B-81.2M0.864.11N/AN/A4,602,9483,961,32825,214,86819,445,608
2011-03-22$12.19$11.9627.8%8.0%27.4%29.9%28.0%6.1%4.5%187.0M-6.95B-81.7M0.853.36N/AN/A3,380,6082,862,72026,138,44820,187,552
2011-03-23$12.11$11.9627.6%7.9%27.1%29.2%27.6%5.2%4.5%78.7M-6.25B-81.5M0.915.67N/AN/A4,391,7724,014,47226,725,58020,840,092
2011-03-24$12.32$11.9624.7%7.1%27.8%21.0%25.2%5.2%5.4%379.8M-9.30B-81.4M0.694.44N/AN/A6,353,3684,380,01227,323,57621,425,208
2011-03-25$12.55$11.9623.6%7.0%28.1%18.1%25.1%4.9%4.9%541.5M-12.51B-82.4M0.615.85N/AN/A8,875,5245,396,66427,489,14021,739,620
2011-03-28$12.52$11.9627.0%7.3%27.6%27.7%26.3%5.3%4.4%337.3M-10.63B-82.1M0.736.36N/AN/A4,072,8802,972,98427,092,29620,650,924
2011-03-29$12.53$12.1423.9%7.2%27.3%18.8%25.6%5.2%4.7%341.8M-10.82B-80.7M0.714.34N/AN/A3,678,2202,628,75227,579,55221,313,544
2011-03-30$12.45$12.1423.0%6.8%27.3%16.3%24.3%4.2%5.8%269.0M-9.71B-80.3M0.615.24N/AN/A3,988,7402,427,43227,852,21621,757,176
2011-03-31$12.45$12.1421.4%6.6%26.1%11.6%23.5%3.4%6.6%270.6M-9.75B-79.5M0.695.64N/AN/A3,483,0602,386,86028,076,88821,970,508