AAPL Options History — January 2018

In January 2018, AAPL traded between $41.74 and $44.81. ATM implied volatility averaged 26.4%, placing in the 83.4% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 10.6% (HV 20d: 15.8%). Max pain ranged from $41.25 to $42.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.52.

Notable Days

2018-01-25: Highest Volume — 3,071,824 contracts
2018-01-29: Largest IV spike — 17.6% change
2018-01-29: Highest IV Rank — 100.0%
2018-01-31: Largest Expected Move — 11.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.49	$41.74	$44.81	$43.03	$41.80
Max Pain	$41.96	$41.25	$42.50	$41.25	$42.50
ATM IV	26.4%	23.7%	32.8%	23.7%	31.9%
Expected Move	7.6%	4.6%	11.1%	4.6%	11.1%
HV 20d	15.8%	14.1%	17.4%	17.3%	14.1%
HV 60d	18.1%	16.7%	18.8%	18.7%	16.7%
IV Rank	83.4%	70.0%	100.0%	70.3%	95.3%
IV Percentile	93.5%	81.0%	100.0%	83.7%	99.2%
Term Structure	-0.9%	-1.5%	0.3%	0.3%	-0.9%
VWIV	27.1%	16.6%	38.7%	16.8%	38.7%
Skew 25d	1.6%	0.0%	2.7%	2.3%	1.1%
Skew 10d	2.6%	-0.5%	4.9%	4.4%	1.3%
Call IV 25d	26.2%	23.3%	32.5%	23.8%	31.8%
Put IV 25d	27.7%	25.2%	33.0%	26.2%	33.0%
Bid-Ask Spread %	2.01	1.33	5.03	1.39	5.03
Gamma HHI	0.15	0.08	0.29	0.14	0.09
Net GEX	530.2M	122.0M	997.0M	517.5M	213.0M
Net DEX	-13.81B	-22.66B	-3.99B	-14.40B	-4.55B
Net VEX	-65.5M	-72.9M	-61.2M	-67.4M	-72.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.38	0.70	0.62	0.58
Total Volume	2,011,034.286	1,266,800	3,071,824	1,386,884	1,453,896
Total OI	15,343,915.81	10,057,328	18,356,804	17,070,816	12,813,696

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
2018-01-02	$43.03	$41.25	23.7%	4.6%	17.3%	70.3%	16.8%	2.3%	0.3%	517.5M	-14.40B	-67.4M	0.62	1.39	N/A	N/A	854,092	532,792	8,940,936	8,129,880
2018-01-03	$43.02	$41.25	25.0%	4.6%	17.0%	78.3%	16.6%	2.7%	-0.2%	559.3M	-14.40B	-67.8M	0.66	2.32	N/A	N/A	964,480	640,696	9,106,676	8,250,492
2018-01-04	$43.26	$41.25	24.1%	6.6%	17.1%	72.9%	23.6%	2.2%	-0.2%	645.6M	-15.75B	-66.7M	0.70	1.33	N/A	N/A	746,152	520,648	9,219,276	8,383,996
2018-01-05	$43.75	$41.25	24.4%	6.7%	17.3%	74.7%	24.0%	2.2%	-0.4%	629.5M	-18.58B	-65.9M	0.47	1.74	N/A	N/A	1,512,240	703,880	9,345,212	8,529,720
2018-01-08	$43.58	$41.25	24.8%	6.8%	17.4%	76.9%	24.5%	2.0%	-1.1%	694.1M	-17.25B	-64.9M	0.66	1.51	N/A	N/A	855,092	561,808	9,187,460	8,112,960
2018-01-09	$43.61	$41.25	24.3%	6.7%	17.3%	74.0%	24.8%	1.9%	-0.9%	718.6M	-17.43B	-64.7M	0.49	1.45	N/A	N/A	865,116	420,932	9,309,512	8,249,228
2018-01-10	$43.53	$41.25	24.5%	6.8%	15.6%	75.3%	24.3%	1.9%	-0.9%	660.1M	-16.93B	-64.9M	0.50	1.44	N/A	N/A	947,304	477,924	9,452,964	8,326,440
2018-01-11	$43.81	$41.25	23.7%	6.5%	15.6%	70.0%	23.3%	1.9%	-1.0%	884.3M	-18.82B	-62.9M	0.59	1.73	N/A	N/A	845,020	500,164	9,573,124	8,398,168
2018-01-12	$44.21	$41.25	24.1%	6.7%	15.8%	72.9%	23.6%	1.9%	-1.1%	726.1M	-20.92B	-62.7M	0.49	2.17	N/A	N/A	1,745,108	847,176	9,579,688	8,490,072
2018-01-16	$44.11	$42.50	25.9%	7.4%	15.8%	84.4%	26.1%	2.4%	-1.5%	719.1M	-19.09B	-62.0M	0.49	1.98	N/A	N/A	1,664,288	808,264	9,314,004	8,321,300
2018-01-17	$44.77	$42.50	26.8%	7.7%	16.4%	89.8%	27.5%	1.9%	-1.2%	900.8M	-22.41B	-61.2M	0.38	1.65	N/A	N/A	1,834,492	697,936	9,515,324	8,419,504
2018-01-18	$44.81	$42.50	26.7%	7.7%	15.3%	89.3%	28.0%	1.5%	-1.5%	997.0M	-22.66B	-61.8M	0.42	1.60	N/A	N/A	1,712,080	720,800	9,675,552	8,566,168
2018-01-19	$44.56	$42.50	25.5%	7.4%	14.6%	81.3%	26.3%	1.4%	-0.9%	442.3M	-20.75B	-61.8M	0.41	2.21	N/A	N/A	1,505,764	622,476	9,654,048	8,702,756
2018-01-22	$44.25	$42.50	25.2%	7.6%	14.9%	79.7%	27.1%	1.3%	-0.8%	440.3M	-9.51B	-62.7M	0.66	1.82	N/A	N/A	802,096	532,132	5,935,076	4,122,252
2018-01-23	$44.24	$42.50	25.5%	7.7%	14.9%	81.6%	27.4%	1.2%	-0.8%	479.9M	-9.78B	-64.1M	0.41	2.07	N/A	N/A	1,389,200	573,076	6,234,844	4,360,824
2018-01-24	$43.55	$42.50	27.0%	8.3%	16.0%	91.0%	29.2%	1.0%	-1.1%	273.3M	-7.37B	-65.2M	0.45	2.36	N/A	N/A	1,856,736	838,252	6,350,736	4,468,720
2018-01-25	$42.81	$42.50	28.2%	8.7%	14.2%	98.7%	30.8%	0.5%	-1.0%	122.0M	-5.26B	-66.9M	0.53	2.03	N/A	N/A	2,012,376	1,059,448	6,743,520	4,733,232
2018-01-26	$42.83	$42.50	27.9%	8.8%	14.1%	96.9%	30.9%	0.4%	-1.2%	181.2M	-5.51B	-69.0M	0.50	2.23	N/A	N/A	1,767,268	875,668	7,216,552	5,006,648
2018-01-29	$42.06	$42.50	32.8%	10.9%	15.5%	100.0%	37.9%	0.0%	-1.4%	152.9M	-4.71B	-69.5M	0.45	2.57	N/A	N/A	1,797,212	816,436	6,572,456	4,735,652
2018-01-30	$41.74	$42.50	32.3%	10.9%	15.5%	97.6%	38.2%	0.8%	-1.4%	177.9M	-3.99B	-71.1M	0.49	1.65	N/A	N/A	1,578,112	773,088	7,166,756	5,006,808
2018-01-31	$41.80	$42.50	31.9%	11.1%	14.1%	95.3%	38.7%	1.1%	-0.9%	213.0M	-4.55B	-72.9M	0.58	5.03	N/A	N/A	921,216	532,680	7,563,812	5,249,884