AAPL Options History — January 2013

In January 2013, AAPL traded between $15.71 and $19.61. ATM implied volatility averaged 37.4%, placing in the 71.8% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 3.8% (HV 20d: 41.2%). Max pain ranged from $16.07 to $19.64. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.71.

Notable Days

2013-01-24: Highest Volume — 42,958,496 contracts
2013-01-24: Largest IV drop — 27.8% change
2013-01-15: Highest IV Rank — 89.7%
2013-01-23: Largest Expected Move — 12.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.78	$15.71	$19.61	$19.61	$16.27
Max Pain	$18.14	$16.07	$19.64	$18.21	$16.43
ATM IV	37.4%	24.9%	43.2%	39.1%	24.9%
Expected Move	10.7%	7.2%	12.3%	11.2%	7.2%
HV 20d	41.2%	32.0%	59.9%	40.5%	55.2%
HV 60d	39.0%	36.0%	45.3%	36.3%	44.9%
IV Rank	71.8%	33.7%	89.7%	77.0%	33.7%
IV Percentile	80.3%	25.4%	97.2%	91.7%	25.4%
Term Structure	-2.7%	-5.9%	0.0%	-2.4%	0.0%
VWIV	37.5%	25.5%	43.0%	39.2%	25.5%
Skew 25d	1.4%	-0.5%	2.3%	2.1%	1.6%
Skew 10d	2.4%	0.6%	5.8%	4.3%	2.6%
Call IV 25d	36.9%	24.8%	42.2%	38.2%	24.8%
Put IV 25d	38.3%	26.4%	43.8%	40.3%	26.4%
Bid-Ask Spread %	8.99	2.50	56.69	5.48	12.21
Gamma HHI	0.08	0.03	0.48	0.05	0.05
Net GEX	42.9M	-1.28B	908.0M	908.0M	44.4M
Net DEX	12.43B	-8.14B	28.12B	-8.14B	19.48B
Net VEX	-174.1M	-222.5M	-116.4M	-222.5M	-138.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.71	0.50	0.91	0.65	0.84
Total Volume	20,391,653.333	9,057,328	42,958,496	20,093,948	9,057,328
Total OI	105,635,038.667	77,360,136	123,574,780	110,401,676	93,770,376

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2013-01-02	$19.61	$18.21	39.1%	11.2%	40.5%	77.0%	39.2%	2.1%	-2.4%	908.0M	-8.14B	-222.5M	0.65	5.48	N/A	N/A	12,146,204	7,947,744	67,807,040	42,594,636
2013-01-03	$19.36	$18.39	38.2%	11.0%	40.3%	74.4%	38.3%	2.3%	-2.3%	660.3M	-2.67B	-216.4M	0.74	3.17	N/A	N/A	8,461,656	6,251,952	69,158,096	43,771,448
2013-01-04	$18.82	$18.57	39.3%	11.3%	34.1%	77.9%	39.4%	1.8%	-2.3%	204.9M	7.80B	-201.9M	0.62	3.00	N/A	N/A	15,707,076	9,732,548	69,776,196	44,601,312
2013-01-07	$18.71	$18.57	40.8%	11.7%	33.5%	82.4%	41.2%	1.6%	-3.0%	201.7M	7.99B	-198.1M	0.71	2.50	N/A	N/A	9,233,924	6,564,908	68,370,176	43,278,256
2013-01-08	$18.76	$18.57	40.5%	11.6%	32.4%	81.5%	40.7%	1.6%	-3.4%	256.0M	7.88B	-194.9M	0.77	3.19	N/A	N/A	7,227,080	5,559,288	69,759,732	44,066,652
2013-01-09	$18.47	$18.57	42.3%	12.1%	32.7%	86.9%	42.2%	1.4%	-3.9%	-3.1M	12.59B	-188.1M	0.69	11.06	N/A	N/A	8,633,968	5,996,900	70,835,912	45,004,540
2013-01-10	$18.70	$0.00	41.0%	11.9%	32.0%	83.1%	41.2%	1.1%	-2.4%	311.0M	8.06B	-196.6M	0.80	11.79	N/A	N/A	11,483,108	9,213,960	71,904,448	45,413,368
2013-01-11	$18.58	$18.93	40.3%	11.7%	32.1%	80.8%	40.8%	1.4%	-1.8%	-60.4M	9.58B	-193.1M	0.90	4.18	N/A	N/A	8,109,304	7,284,396	72,848,216	46,163,572
2013-01-14	$17.92	$19.64	41.8%	11.7%	33.9%	85.3%	40.8%	1.7%	-4.4%	-137.4M	17.74B	-177.5M	0.81	5.60	N/A	N/A	12,643,540	10,207,596	70,072,464	44,075,808
2013-01-15	$17.35	$19.64	43.2%	12.2%	33.1%	89.7%	42.6%	1.5%	-5.4%	-253.5M	23.87B	-166.4M	0.91	4.71	N/A	N/A	14,104,384	12,793,928	72,216,228	45,299,240
2013-01-16	$18.07	$19.64	42.1%	12.0%	35.9%	86.4%	42.0%	2.0%	-5.9%	319.4M	11.13B	-184.4M	0.72	4.59	N/A	N/A	14,321,776	10,362,072	74,936,652	45,479,000
2013-01-17	$17.95	$19.46	41.0%	11.8%	34.1%	83.1%	41.4%	1.5%	-1.8%	158.4M	13.03B	-180.5M	0.56	4.60	N/A	N/A	11,681,376	6,500,312	75,435,164	46,132,072
2013-01-18	$17.86	$19.46	40.8%	11.8%	33.9%	82.4%	41.5%	0.5%	-1.9%	-1.28B	14.56B	-179.0M	0.73	5.23	N/A	N/A	12,900,468	9,417,520	77,235,844	46,338,936
2013-01-22	$18.03	$17.68	41.6%	11.8%	34.1%	84.8%	41.2%	1.6%	-5.3%	322.2M	5.34B	-177.4M	0.55	2.70	N/A	N/A	8,832,768	4,816,252	49,500,332	27,859,804
2013-01-23	$18.36	$17.68	42.8%	12.3%	34.8%	88.5%	43.0%	1.6%	-5.2%	469.0M	1.35B	-186.0M	0.50	5.83	N/A	N/A	16,435,776	8,245,328	51,820,832	29,262,744
2013-01-24	$16.09	$17.86	30.9%	8.9%	58.1%	52.0%	31.4%	0.8%	-0.8%	-455.1M	26.31B	-118.8M	0.62	7.87	N/A	N/A	26,555,396	16,403,100	56,487,284	31,544,128
2013-01-25	$15.71	$16.96	31.0%	8.9%	58.4%	52.2%	31.4%	-0.5%	-1.8%	-969.5M	28.12B	-116.4M	0.84	56.69	N/A	N/A	21,153,832	17,868,620	61,270,916	33,322,800
2013-01-28	$16.07	$16.07	29.3%	8.4%	59.2%	46.9%	29.7%	1.4%	-0.7%	-65.8M	20.84B	-134.0M	0.63	11.22	N/A	N/A	11,208,680	7,065,464	56,430,948	31,177,020
2013-01-29	$16.37	$16.07	27.2%	7.8%	59.9%	40.7%	27.6%	1.5%	-0.8%	139.2M	17.85B	-142.6M	0.61	10.95	N/A	N/A	9,197,524	5,573,932	58,453,724	32,194,512
2013-01-30	$16.32	$16.43	26.5%	7.6%	57.1%	38.6%	26.9%	1.6%	-0.3%	131.4M	18.43B	-143.2M	0.65	12.15	N/A	N/A	6,866,776	4,456,956	59,840,788	32,824,596
2013-01-31	$16.27	$16.43	24.9%	7.2%	55.2%	33.7%	25.5%	1.6%	0.0%	44.4M	19.48B	-138.9M	0.84	12.21	N/A	N/A	4,934,804	4,122,524	60,519,816	33,250,560