AAPL Options History — February 2016

In February 2016, AAPL traded between $23.44 and $24.52. ATM implied volatility averaged 26.8%, placing in the 24.0% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded below realized volatility by 7.5% (HV 20d: 34.3%). Max pain ranged from $25.00 to $26.25. Net GEX was positive for 15 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.76.

Notable Days

2016-02-19: Highest Volume — 2,655,108 contracts
2016-02-05: Largest IV spike — 13.7% change
2016-02-11: Highest IV Rank — 36.0%
2016-02-11: Largest Expected Move — 8.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$23.94	$23.44	$24.52	$24.12	$24.23
Max Pain	$25.19	$25.00	$26.25	$26.25	$25.00
ATM IV	26.8%	23.0%	31.2%	25.8%	23.5%
Expected Move	7.6%	6.6%	8.9%	7.2%	6.7%
HV 20d	34.3%	23.7%	38.4%	37.5%	23.7%
HV 60d	29.2%	28.8%	30.0%	28.9%	29.3%
IV Rank	24.0%	13.8%	36.0%	21.4%	15.3%
IV Percentile	48.1%	26.6%	69.4%	45.6%	28.2%
Term Structure	0.1%	-0.5%	0.7%	0.3%	0.5%
VWIV	26.9%	23.1%	31.9%	25.7%	23.3%
Skew 25d	3.8%	2.7%	4.9%	2.7%	4.3%
Skew 10d	7.6%	4.7%	10.1%	4.7%	8.3%
Call IV 25d	25.2%	21.2%	29.1%	24.9%	21.8%
Put IV 25d	29.0%	25.1%	34.0%	27.6%	26.2%
Bid-Ask Spread %	2.06	1.47	2.62	2.27	2.08
Gamma HHI	0.06	0.04	0.22	0.06	0.06
Net GEX	67.6M	-117.6M	333.6M	41.6M	129.5M
Net DEX	4.65B	2.10B	7.30B	5.10B	2.48B
Net VEX	-76.5M	-82.0M	-71.6M	-74.2M	-78.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.76	0.45	0.94	0.73	0.74
Total Volume	1,880,695.8	1,279,876	2,655,108	1,318,088	1,340,468
Total OI	21,331,087.4	19,055,912	23,035,208	20,624,560	19,724,888

Daily Data (20 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
2016-02-01	$24.12	$26.25	25.8%	7.2%	37.5%	21.4%	25.7%	2.7%	0.3%	41.6M	5.10B	-74.2M	0.73	2.27	N/A	N/A	764,024	554,064	12,366,272	8,258,288
2016-02-02	$23.61	$26.25	27.6%	7.9%	38.0%	26.2%	27.6%	2.9%	0.1%	-18.8M	6.57B	-71.6M	0.59	2.35	N/A	N/A	802,632	477,244	12,572,624	8,436,012
2016-02-03	$24.11	$26.25	26.0%	7.2%	38.4%	21.9%	25.1%	2.9%	0.5%	88.0M	4.86B	-75.3M	0.45	2.62	N/A	N/A	1,584,764	720,124	12,738,184	8,539,984
2016-02-04	$24.13	$25.00	26.4%	7.6%	37.7%	23.1%	27.1%	3.1%	0.3%	109.4M	4.88B	-76.6M	0.70	1.79	N/A	N/A	1,291,720	904,316	12,774,760	8,708,332
2016-02-05	$23.44	$25.00	30.0%	8.5%	37.3%	32.8%	30.1%	3.9%	-0.2%	-117.6M	7.30B	-73.9M	0.69	2.01	N/A	N/A	1,287,912	892,692	13,146,288	9,038,440
2016-02-08	$23.73	$25.00	29.9%	8.6%	37.6%	32.5%	30.7%	4.3%	0.2%	5.3M	6.06B	-75.2M	0.88	2.15	N/A	N/A	1,001,276	885,112	12,674,108	8,638,568
2016-02-09	$23.77	$25.00	30.8%	8.8%	37.1%	34.8%	30.6%	4.6%	-0.2%	26.7M	5.79B	-76.5M	0.90	1.97	N/A	N/A	812,768	734,396	12,854,568	8,801,704
2016-02-10	$23.55	$25.00	30.9%	8.8%	36.6%	35.0%	31.9%	4.4%	-0.2%	-4.9M	6.40B	-74.8M	0.78	1.65	N/A	N/A	910,524	706,596	12,980,272	8,895,024
2016-02-11	$23.48	$25.00	31.2%	8.9%	35.6%	36.0%	31.5%	4.9%	-0.2%	-24.3M	6.66B	-74.7M	0.73	1.90	N/A	N/A	1,244,832	904,916	13,276,220	9,093,280
2016-02-12	$23.48	$25.00	28.9%	8.3%	34.8%	29.8%	29.1%	4.3%	0.2%	-46.8M	6.67B	-74.8M	0.52	1.47	N/A	N/A	1,282,072	670,896	13,575,752	9,173,392
2016-02-16	$24.15	$25.00	26.8%	7.7%	35.6%	24.0%	26.8%	4.3%	0.7%	90.3M	4.06B	-78.3M	0.94	1.68	N/A	N/A	1,251,924	1,171,620	13,289,516	8,748,528
2016-02-17	$24.52	$25.00	26.0%	7.5%	36.1%	21.9%	25.9%	3.2%	-0.0%	200.7M	2.53B	-82.0M	0.76	2.17	N/A	N/A	1,278,976	971,728	13,617,388	9,127,840
2016-02-18	$24.05	$25.00	26.9%	7.7%	36.7%	24.4%	26.6%	2.9%	-0.5%	90.1M	4.33B	-79.1M	0.90	2.42	N/A	N/A	1,089,276	977,960	13,684,360	9,193,696
2016-02-19	$24.04	$25.00	25.1%	7.2%	36.7%	19.7%	25.3%	3.3%	-0.1%	65.6M	4.30B	-78.0M	0.94	1.64	N/A	N/A	1,367,424	1,287,684	13,758,348	9,276,860
2016-02-22	$24.18	$25.00	23.0%	6.6%	32.1%	13.8%	23.1%	3.5%	0.4%	100.5M	2.76B	-77.9M	0.79	2.49	N/A	N/A	987,500	777,892	11,362,844	7,693,068
2016-02-23	$23.68	$25.00	25.6%	7.4%	32.3%	20.9%	25.6%	4.2%	-0.1%	19.0M	4.37B	-74.5M	0.84	2.10	N/A	N/A	798,744	668,680	11,664,888	8,043,940
2016-02-24	$24.04	$25.00	24.0%	6.9%	32.9%	16.6%	24.5%	4.3%	0.0%	105.1M	3.11B	-76.8M	0.68	2.13	N/A	N/A	992,868	677,448	11,852,548	8,193,588
2016-02-25	$24.14	$25.00	23.7%	6.8%	24.2%	15.9%	23.9%	4.3%	0.1%	160.1M	2.57B	-78.5M	0.77	2.13	N/A	N/A	838,040	647,272	12,007,324	8,235,096
2016-02-26	$24.24	$25.00	23.1%	6.6%	24.2%	14.1%	23.8%	4.4%	0.1%	333.6M	2.10B	-79.1M	0.83	2.11	N/A	N/A	1,120,868	934,664	12,230,352	8,374,604
2016-02-29	$24.23	$25.00	23.5%	6.7%	23.7%	15.3%	23.3%	4.3%	0.5%	129.5M	2.48B	-78.2M	0.74	2.08	N/A	N/A	772,348	568,120	11,844,612	7,880,276