AAPL Options History — December 2013

In December 2013, AAPL traded between $19.45 and $20.36. ATM implied volatility averaged 26.6%, placing in the 29.7% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded above realized volatility by 6.6% (HV 20d: 20.1%). Max pain ranged from $18.57 to $18.57. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.57.

Notable Days

2013-12-18: Highest Volume — 19,987,800 contracts
2013-12-23: Largest IV spike — 8.4% change
2013-12-30: Highest IV Rank — 53.9%
2013-12-18: Largest Expected Move — 8.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.99	$19.45	$20.36	$19.69	$20.04
Max Pain	$18.57	$18.57	$18.57	$18.57	$18.57
ATM IV	26.6%	22.0%	32.7%	23.2%	31.9%
Expected Move	8.4%	8.2%	8.6%	8.2%	8.4%
HV 20d	20.1%	18.4%	23.0%	18.4%	21.0%
HV 60d	20.5%	17.9%	25.7%	25.3%	18.7%
IV Rank	29.7%	11.1%	53.9%	15.8%	50.6%
IV Percentile	36.5%	10.3%	80.6%	13.5%	75.8%
Term Structure	1.3%	-2.5%	6.3%	0.8%	-2.5%
VWIV	29.5%	28.6%	30.2%	28.6%	29.0%
Skew 25d	-0.1%	-1.3%	0.5%	-1.0%	0.3%
Skew 10d	-1.0%	-3.6%	0.1%	-2.8%	-0.5%
Call IV 25d	27.1%	21.9%	32.7%	24.0%	31.8%
Put IV 25d	27.0%	22.4%	32.8%	23.0%	32.1%
Bid-Ask Spread %	4.16	2.49	5.97	2.49	5.97
Gamma HHI	0.08	0.05	0.34	0.07	0.07
Net GEX	1.18B	-420.8M	1.74B	1.31B	1.24B
Net DEX	-29.09B	-37.81B	-19.58B	-28.68B	-26.52B
Net VEX	-154.9M	-160.9M	-146.8M	-151.1M	-147.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.57	0.47	0.72	0.54	0.60
Total Volume	12,553,408	6,266,652	19,987,800	18,886,280	7,503,944
Total OI	76,773,302.667	70,062,944	82,767,300	71,230,460	73,212,692

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
2013-12-02	$19.69	$18.57	23.2%	8.2%	18.4%	15.8%	28.6%	-1.0%	0.8%	1.31B	-28.68B	-151.1M	0.54	2.49	N/A	N/A	12,253,668	6,632,612	44,585,856	26,644,604
2013-12-03	$20.23	$18.57	24.4%	8.2%	20.1%	20.7%	28.8%	-1.3%	0.5%	1.51B	-36.89B	-151.8M	0.53	4.17	N/A	N/A	11,766,972	6,256,684	46,211,564	27,819,988
2013-12-04	$20.18	$18.57	24.3%	8.3%	20.1%	20.4%	29.0%	-0.8%	1.1%	1.52B	-35.72B	-153.8M	0.50	4.44	N/A	N/A	9,640,680	4,847,360	47,179,916	28,633,780
2013-12-05	$20.28	$18.57	25.1%	8.5%	19.5%	23.4%	29.5%	-0.5%	1.4%	1.74B	-37.81B	-158.9M	0.47	4.10	N/A	N/A	13,375,796	6,294,792	48,392,232	29,442,336
2013-12-06	$20.00	$18.57	24.9%	8.5%	19.2%	22.6%	29.7%	-0.4%	1.4%	-420.8M	-30.99B	-160.9M	0.49	4.18	N/A	N/A	11,563,244	5,620,636	49,605,752	30,307,424
2013-12-09	$20.23	$18.57	23.3%	8.4%	18.9%	16.2%	29.5%	-0.1%	1.5%	1.44B	-34.30B	-157.7M	0.54	3.43	N/A	N/A	6,936,552	3,758,356	47,396,944	28,268,324
2013-12-10	$20.20	$18.57	22.0%	8.4%	18.9%	11.1%	29.3%	0.5%	2.0%	1.42B	-33.25B	-157.4M	0.59	4.66	N/A	N/A	4,764,144	2,809,968	48,649,496	29,220,800
2013-12-11	$20.05	$18.57	23.4%	8.5%	19.3%	16.9%	29.7%	0.0%	2.0%	1.24B	-30.42B	-159.2M	0.62	3.54	N/A	N/A	7,378,672	4,541,544	48,947,920	29,666,588
2013-12-12	$20.02	$18.57	24.4%	8.5%	19.4%	20.9%	29.7%	0.1%	1.1%	1.18B	-29.58B	-159.6M	0.64	4.28	N/A	N/A	5,513,312	3,529,176	49,728,700	30,442,776
2013-12-13	$19.80	$18.57	25.2%	8.6%	19.6%	23.7%	30.1%	0.4%	1.1%	1.04B	-24.62B	-159.7M	0.64	3.90	N/A	N/A	8,970,612	5,780,040	50,193,024	30,902,424
2013-12-16	$19.91	$18.57	25.1%	8.6%	19.4%	23.5%	30.2%	-0.3%	4.3%	1.18B	-28.01B	-157.6M	0.48	3.33	N/A	N/A	5,933,312	2,821,952	48,047,244	29,518,692
2013-12-17	$19.82	$18.57	25.7%	8.6%	18.8%	26.0%	29.7%	-0.1%	4.0%	1.08B	-26.47B	-158.0M	0.61	3.69	N/A	N/A	4,276,636	2,609,376	49,034,412	30,049,824
2013-12-18	$19.67	$18.57	26.2%	8.6%	19.2%	28.0%	30.2%	0.2%	4.6%	853.9M	-23.43B	-155.0M	0.62	4.41	N/A	N/A	12,374,656	7,613,144	49,340,592	30,353,876
2013-12-19	$19.45	$18.57	26.5%	8.6%	19.4%	29.2%	30.0%	0.1%	6.3%	731.9M	-19.58B	-156.4M	0.65	3.21	N/A	N/A	7,153,692	4,681,572	50,309,224	31,076,696
2013-12-20	$19.61	$18.57	27.3%	8.6%	19.2%	32.3%	29.9%	0.4%	6.3%	1.54B	-23.39B	-155.3M	0.72	4.49	N/A	N/A	8,065,036	5,828,116	51,149,196	31,618,104
2013-12-23	$20.36	$18.57	29.6%	8.4%	22.8%	41.5%	29.4%	-0.2%	-2.1%	1.43B	-33.08B	-152.6M	0.54	3.63	N/A	N/A	10,604,972	5,690,608	43,853,096	26,209,848
2013-12-24	$20.27	$18.57	30.6%	8.4%	23.0%	45.6%	29.1%	-0.2%	-2.0%	1.42B	-31.39B	-152.7M	0.49	3.97	N/A	N/A	4,203,304	2,063,348	45,818,220	27,759,704
2013-12-26	$20.14	$18.57	31.7%	8.4%	22.6%	50.0%	29.4%	-0.1%	-0.8%	1.26B	-28.75B	-148.7M	0.55	3.76	N/A	N/A	5,769,176	3,178,364	46,430,328	28,287,448
2013-12-27	$20.00	$18.57	31.9%	8.4%	21.5%	50.9%	29.2%	-0.0%	-0.9%	1.15B	-25.80B	-152.3M	0.66	5.89	N/A	N/A	7,160,524	4,703,636	47,424,972	29,026,452
2013-12-30	$19.80	$18.57	32.7%	8.4%	20.9%	53.9%	29.4%	0.1%	-2.5%	841.6M	-22.25B	-146.8M	0.50	5.76	N/A	N/A	6,113,856	3,037,524	44,288,888	27,189,400
2013-12-31	$20.04	$18.57	31.9%	8.4%	21.0%	50.6%	29.0%	0.3%	-2.5%	1.24B	-26.52B	-147.8M	0.60	5.97	N/A	N/A	4,702,992	2,800,952	45,256,596	27,956,096