AAPL Options History — December 2017

In December 2017, AAPL traded between $42.23 and $44.16. ATM implied volatility averaged 18.4%, placing in the 36.3% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 1.5% (HV 20d: 16.9%). Max pain ranged from $38.75 to $41.25. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.60.

Notable Days

2017-12-01: Highest Volume — 2,530,172 contracts
2017-12-26: Largest IV spike — 21.5% change
2017-12-04: Highest IV Rank — 60.6%
2017-12-04: Largest Expected Move — 6.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.97	$42.23	$44.16	$42.78	$42.32
Max Pain	$40.00	$38.75	$41.25	$41.25	$41.25
ATM IV	18.4%	15.9%	22.2%	19.6%	20.6%
Expected Move	5.2%	4.5%	6.3%	5.7%	4.8%
HV 20d	16.9%	15.7%	19.1%	19.1%	16.3%
HV 60d	18.3%	17.6%	18.9%	18.9%	18.6%
IV Rank	36.3%	20.6%	60.6%	43.7%	50.5%
IV Percentile	36.9%	16.7%	68.7%	48.4%	57.9%
Term Structure	1.7%	-0.1%	6.9%	0.1%	6.9%
VWIV	18.7%	16.2%	22.2%	20.1%	17.8%
Skew 25d	2.3%	1.9%	3.1%	2.4%	2.3%
Skew 10d	4.6%	3.4%	6.1%	5.5%	4.5%
Call IV 25d	17.6%	15.2%	21.4%	18.8%	17.2%
Put IV 25d	19.8%	17.1%	24.5%	21.2%	19.6%
Bid-Ask Spread %	2.07	1.32	3.74	3.74	2.24
Gamma HHI	0.17	0.12	0.50	0.16	0.12
Net GEX	628.8M	348.4M	1.60B	574.8M	348.4M
Net DEX	-14.85B	-19.43B	-10.14B	-14.32B	-10.14B
Net VEX	-74.1M	-80.7M	-69.5M	-78.2M	-70.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.60	0.46	0.74	0.62	0.68
Total Volume	1,655,855.4	1,070,656	2,530,172	2,530,172	1,659,456
Total OI	17,821,568.8	16,195,852	19,031,568	18,027,868	17,695,056

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
2017-12-01	$42.78	$41.25	19.6%	5.7%	19.1%	43.7%	20.1%	2.4%	0.1%	574.8M	-14.32B	-78.2M	0.62	3.74	N/A	N/A	1,566,164	964,008	10,148,132	7,879,736
2017-12-04	$42.44	$38.75	22.2%	6.3%	17.0%	60.6%	22.2%	3.1%	0.2%	523.7M	-12.98B	-80.7M	0.63	3.09	N/A	N/A	1,077,944	675,596	9,754,348	7,751,344
2017-12-05	$42.47	$38.75	20.1%	5.8%	16.4%	47.0%	20.4%	3.1%	0.4%	552.0M	-13.29B	-77.7M	0.46	1.93	N/A	N/A	1,294,880	600,780	9,964,216	7,924,112
2017-12-06	$42.23	$38.75	19.6%	5.7%	16.5%	43.6%	20.2%	2.7%	0.5%	481.7M	-12.39B	-77.4M	0.53	1.81	N/A	N/A	1,080,012	577,180	10,150,108	8,093,932
2017-12-07	$42.39	$38.75	18.9%	5.6%	16.2%	39.7%	19.7%	2.6%	0.5%	523.5M	-12.86B	-77.6M	0.57	1.71	N/A	N/A	978,324	557,532	10,247,316	8,224,816
2017-12-08	$42.24	$38.75	18.6%	5.5%	16.2%	37.6%	20.3%	2.7%	0.6%	478.0M	-12.33B	-77.2M	0.63	1.71	N/A	N/A	1,159,412	730,940	10,424,512	8,329,308
2017-12-11	$43.17	$40.00	17.9%	5.2%	18.1%	33.1%	18.8%	1.9%	-0.1%	735.9M	-17.03B	-74.9M	0.53	1.32	N/A	N/A	1,297,516	691,876	10,143,212	8,161,196
2017-12-12	$42.92	$40.00	17.7%	5.3%	18.2%	31.8%	19.0%	2.1%	0.6%	679.9M	-15.49B	-76.2M	0.52	1.47	N/A	N/A	704,076	366,580	10,286,288	8,309,212
2017-12-13	$43.09	$40.00	17.2%	5.2%	17.6%	28.8%	18.5%	2.1%	1.2%	713.8M	-16.43B	-75.1M	0.52	1.57	N/A	N/A	930,700	480,996	10,370,416	8,380,040
2017-12-14	$43.06	$40.00	17.2%	5.1%	16.5%	28.9%	17.9%	1.9%	0.7%	717.0M	-16.47B	-73.5M	0.50	1.69	N/A	N/A	965,108	478,632	10,474,552	8,468,672
2017-12-15	$43.41	$40.00	17.1%	4.9%	15.9%	27.8%	18.0%	1.9%	-0.1%	599.7M	-18.00B	-73.3M	0.63	1.95	N/A	N/A	1,240,968	782,852	10,453,800	8,577,768
2017-12-18	$44.16	$40.00	17.1%	4.9%	16.5%	27.6%	18.2%	1.9%	0.4%	760.6M	-19.43B	-70.7M	0.53	2.08	N/A	N/A	1,441,908	770,768	8,720,440	7,475,412
2017-12-19	$43.60	$40.00	17.6%	5.1%	17.3%	31.3%	18.8%	2.0%	0.9%	647.6M	-16.71B	-72.6M	0.58	1.70	N/A	N/A	983,952	574,220	8,949,460	7,728,440
2017-12-20	$43.59	$40.00	16.9%	4.9%	16.1%	27.0%	17.6%	2.1%	1.1%	687.1M	-16.72B	-73.3M	0.58	2.05	N/A	N/A	848,292	489,236	9,127,004	7,900,924
2017-12-21	$43.76	$40.00	16.2%	4.6%	15.7%	22.5%	16.7%	1.9%	1.4%	792.6M	-17.88B	-70.9M	0.74	1.79	N/A	N/A	805,600	599,300	9,256,856	8,055,308
2017-12-22	$43.74	$40.00	15.9%	4.5%	15.7%	20.6%	16.2%	1.9%	1.1%	1.60B	-17.81B	-70.1M	0.67	3.52	N/A	N/A	715,760	479,412	9,379,676	8,166,228
2017-12-26	$42.59	$41.25	19.4%	5.2%	18.3%	42.4%	18.7%	2.1%	5.8%	362.7M	-11.90B	-70.4M	0.73	1.74	N/A	N/A	1,270,004	923,680	8,897,224	7,796,492
2017-12-27	$42.62	$41.25	19.0%	5.0%	18.1%	39.9%	18.6%	2.5%	6.3%	373.3M	-12.00B	-71.2M	0.70	1.86	N/A	N/A	645,272	448,780	9,111,116	8,157,176
2017-12-28	$42.71	$41.25	19.2%	4.8%	16.8%	41.5%	17.1%	2.3%	6.0%	424.8M	-12.71B	-69.5M	0.58	2.35	N/A	N/A	796,480	462,912	9,229,632	8,267,896
2017-12-29	$42.32	$41.25	20.6%	4.8%	16.3%	50.5%	17.8%	2.3%	6.9%	348.4M	-10.14B	-70.8M	0.68	2.24	N/A	N/A	989,960	669,496	9,329,516	8,365,540