AAPL Options History — February 2013

In February 2013, AAPL traded between $15.76 and $17.14. ATM implied volatility averaged 27.8%, placing in the 42.6% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded below realized volatility by 20.5% (HV 20d: 48.3%). Max pain ranged from $16.07 to $17.50. Net GEX was positive for 13 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.64.

Notable Days

2013-02-08: Highest Volume — 28,461,020 contracts
2013-02-04: Largest IV spike — 9.9% change
2013-02-25: Highest IV Rank — 49.1%
2013-02-25: Largest Expected Move — 8.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.31	$15.76	$17.14	$16.20	$15.76
Max Pain	$16.65	$16.07	$17.50	$16.43	$16.07
ATM IV	27.8%	25.4%	30.0%	25.4%	27.6%
Expected Move	8.0%	7.3%	8.6%	7.3%	7.9%
HV 20d	48.3%	25.5%	58.4%	55.3%	25.5%
HV 60d	43.4%	41.7%	45.0%	44.8%	41.8%
IV Rank	42.6%	35.0%	49.1%	35.0%	41.8%
IV Percentile	41.7%	26.2%	56.7%	26.2%	40.1%
Term Structure	-0.5%	-1.3%	0.4%	-0.2%	-0.3%
VWIV	28.3%	25.8%	30.4%	25.8%	27.9%
Skew 25d	1.0%	-0.2%	1.9%	1.2%	1.9%
Skew 10d	1.5%	-1.1%	3.3%	1.7%	3.3%
Call IV 25d	27.8%	25.2%	29.6%	25.2%	27.1%
Put IV 25d	28.8%	26.1%	31.1%	26.4%	29.1%
Bid-Ask Spread %	7.37	3.29	15.34	10.00	8.34
Gamma HHI	0.09	0.03	0.75	0.04	0.04
Net GEX	337.7M	-514.2M	4.99B	17.9M	-112.5M
Net DEX	13.43B	6.81B	22.97B	20.33B	14.36B
Net VEX	-152.3M	-172.6M	-129.5M	-138.0M	-145.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.64	0.37	0.87	0.69	0.79
Total Volume	15,634,769.684	8,270,612	28,461,020	20,514,088	9,481,388
Total OI	86,975,644	71,766,604	97,113,884	94,992,576	81,724,692

Daily Data (19 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
2013-02-01	$16.20	$16.43	25.4%	7.3%	55.3%	35.0%	25.8%	1.2%	-0.2%	17.9M	20.33B	-138.0M	0.69	10.00	N/A	N/A	12,173,196	8,340,892	61,272,624	33,719,952
2013-02-04	$15.80	$16.43	27.9%	8.0%	55.1%	42.7%	28.4%	1.6%	-0.4%	-182.8M	22.97B	-129.5M	0.71	15.34	N/A	N/A	7,340,844	5,177,872	57,519,672	32,126,948
2013-02-05	$16.35	$16.43	25.7%	7.4%	57.2%	36.1%	26.5%	1.9%	-0.1%	208.3M	17.32B	-144.5M	0.65	7.18	N/A	N/A	10,326,064	6,661,228	59,101,952	32,995,816
2013-02-06	$16.33	$16.43	27.9%	8.0%	57.2%	42.7%	28.3%	0.8%	-0.7%	254.8M	16.70B	-147.4M	0.45	8.17	N/A	N/A	17,357,340	7,865,620	59,848,432	33,717,404
2013-02-07	$16.72	$0.00	27.9%	8.0%	58.1%	42.9%	28.7%	1.5%	-0.5%	596.9M	11.55B	-159.8M	0.61	9.25	N/A	N/A	12,025,468	7,292,796	60,049,220	34,443,920
2013-02-08	$16.96	$16.25	27.0%	7.8%	58.1%	40.0%	27.7%	0.5%	-0.4%	4.99B	7.49B	-165.5M	0.57	6.21	N/A	N/A	18,086,964	10,374,056	60,951,464	34,637,064
2013-02-11	$17.14	$17.50	29.0%	8.2%	58.4%	46.0%	29.1%	0.2%	-1.2%	526.7M	6.81B	-172.6M	0.55	4.75	N/A	N/A	9,527,224	5,279,176	59,043,376	32,764,116
2013-02-12	$16.71	$17.50	29.5%	8.4%	57.7%	47.7%	29.6%	0.1%	-1.3%	184.9M	12.76B	-165.6M	0.63	6.33	N/A	N/A	11,260,564	7,126,112	60,493,048	33,314,764
2013-02-13	$16.68	$17.50	28.4%	8.1%	56.7%	44.4%	28.8%	-0.1%	-0.9%	174.1M	11.84B	-164.9M	0.61	3.29	N/A	N/A	8,149,260	4,959,472	62,351,072	33,470,220
2013-02-14	$16.66	$17.50	27.6%	7.9%	54.4%	42.0%	27.9%	0.3%	0.1%	121.5M	11.91B	-161.5M	0.37	8.76	N/A	N/A	7,515,480	2,809,856	62,733,608	33,612,096
2013-02-15	$16.43	$17.50	25.9%	7.4%	54.5%	36.7%	26.3%	-0.2%	0.4%	-514.2M	15.17B	-151.5M	0.84	7.29	N/A	N/A	9,296,868	7,814,268	63,180,376	33,933,508
2013-02-19	$16.43	$16.61	27.2%	7.8%	54.6%	40.6%	28.0%	0.8%	-0.4%	90.1M	9.67B	-152.1M	0.87	6.12	N/A	N/A	4,433,492	3,837,120	44,835,084	26,931,520
2013-02-20	$16.03	$16.43	28.2%	8.1%	54.8%	43.7%	28.6%	1.2%	-0.7%	-97.5M	13.11B	-145.8M	0.59	6.63	N/A	N/A	7,567,448	4,441,612	46,337,676	27,864,200
2013-02-21	$15.93	$16.43	28.3%	8.1%	54.0%	43.9%	28.7%	0.9%	-0.4%	-121.4M	13.87B	-147.0M	0.73	7.01	N/A	N/A	8,901,844	6,505,128	48,124,860	29,025,752
2013-02-22	$16.10	$16.43	27.4%	7.9%	27.6%	41.1%	28.2%	1.4%	-0.3%	184.3M	11.47B	-152.6M	0.62	5.83	N/A	N/A	8,402,884	5,231,940	49,220,472	29,760,248
2013-02-25	$15.81	$16.07	30.0%	8.6%	27.0%	49.1%	30.4%	1.6%	-1.2%	-28.0M	13.46B	-148.4M	0.68	6.18	N/A	N/A	5,721,744	3,875,340	47,067,496	28,602,644
2013-02-26	$16.03	$16.07	29.4%	8.4%	26.2%	47.3%	29.8%	1.6%	-0.9%	104.6M	11.27B	-153.9M	0.65	5.21	N/A	N/A	8,984,696	5,827,976	48,344,436	29,420,720
2013-02-27	$15.88	$16.07	28.6%	8.2%	25.5%	44.9%	28.8%	1.6%	-0.9%	17.2M	13.13B	-148.0M	0.64	8.08	N/A	N/A	10,388,084	6,699,308	49,734,468	30,262,316
2013-02-28	$15.76	$16.07	27.6%	7.9%	25.5%	41.8%	27.9%	1.9%	-0.3%	-112.5M	14.36B	-145.0M	0.79	8.34	N/A	N/A	5,289,928	4,191,460	50,823,920	30,900,772