AAPL Options History — May 2018

In May 2018, AAPL traded between $42.02 and $47.50. ATM implied volatility averaged 18.4%, placing in the 17.6% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded below realized volatility by 11.0% (HV 20d: 29.4%). Max pain ranged from $41.25 to $45.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.70.

Notable Days

2018-05-10: Highest Volume — 5,758,492 contracts
2018-05-02: Largest IV drop — 33.0% change
2018-05-01: Highest IV Rank — 71.7%
2018-05-01: Largest Expected Move — 9.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.36	$42.02	$47.50	$42.02	$46.74
Max Pain	$43.18	$41.25	$45.00	$42.50	$45.00
ATM IV	18.4%	16.1%	27.8%	27.8%	17.4%
Expected Move	5.4%	4.5%	9.6%	9.6%	5.0%
HV 20d	29.4%	17.3%	33.8%	28.0%	17.3%
HV 60d	27.8%	26.8%	29.5%	27.6%	26.8%
IV Rank	17.6%	3.1%	71.7%	71.7%	9.1%
IV Percentile	19.9%	2.8%	87.7%	87.7%	10.3%
Term Structure	-0.0%	-0.9%	0.6%	-0.9%	-0.5%
VWIV	19.4%	16.2%	33.1%	33.1%	17.8%
Skew 25d	2.1%	1.5%	3.3%	3.3%	2.2%
Skew 10d	4.2%	2.6%	6.0%	5.4%	4.4%
Call IV 25d	17.7%	15.3%	25.6%	25.6%	16.7%
Put IV 25d	19.8%	17.1%	29.0%	29.0%	18.9%
Bid-Ask Spread %	1.69	1.01	4.59	4.59	1.40
Gamma HHI	0.14	0.07	0.20	0.07	0.14
Net GEX	464.0M	174.3M	747.0M	174.3M	334.8M
Net DEX	-13.05B	-18.80B	-4.88B	-4.88B	-11.81B
Net VEX	-74.2M	-75.9M	-72.8M	-74.3M	-73.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.70	0.24	1.15	0.82	0.68
Total Volume	1,995,475.455	775,248	5,758,492	2,919,416	1,270,256
Total OI	12,873,556.727	11,705,500	13,692,660	12,273,216	12,556,080

Daily Data (22 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
2018-05-01	$42.02	$42.50	27.8%	9.6%	28.0%	71.7%	33.1%	3.3%	-0.9%	174.3M	-4.88B	-74.3M	0.82	4.59	N/A	N/A	1,604,288	1,315,128	6,709,448	5,563,768
2018-05-02	$44.29	$42.50	18.6%	5.6%	32.9%	26.4%	20.8%	2.9%	0.0%	668.8M	-12.21B	-73.1M	0.73	2.09	N/A	N/A	2,216,932	1,619,672	7,209,840	5,964,872
2018-05-03	$44.19	$41.25	19.5%	5.7%	32.8%	30.7%	20.3%	3.3%	-0.1%	519.5M	-11.00B	-75.9M	1.15	1.71	N/A	N/A	984,724	1,130,160	7,257,532	6,231,520
2018-05-04	$46.04	$41.25	18.9%	5.4%	33.8%	27.6%	19.8%	1.9%	-0.2%	681.9M	-17.46B	-74.0M	0.52	1.57	N/A	N/A	3,079,284	1,607,320	7,308,820	6,374,412
2018-05-07	$46.34	$41.25	20.4%	5.8%	33.6%	34.1%	20.7%	1.5%	-0.1%	545.1M	-15.54B	-75.8M	0.49	1.67	N/A	N/A	2,023,764	982,528	6,930,292	5,885,332
2018-05-08	$46.47	$41.25	20.1%	5.7%	33.4%	25.4%	20.3%	1.8%	-0.0%	543.7M	-15.64B	-74.7M	0.67	2.05	N/A	N/A	926,076	622,656	7,178,156	6,131,152
2018-05-09	$46.76	$41.25	19.8%	5.7%	33.2%	23.3%	20.5%	1.8%	0.3%	626.4M	-16.57B	-75.7M	0.59	1.78	N/A	N/A	927,756	547,464	7,311,848	6,222,328
2018-05-10	$47.50	$41.25	19.6%	5.6%	33.3%	22.2%	24.1%	1.8%	-0.0%	747.0M	-18.80B	-74.8M	0.24	1.91	N/A	N/A	4,658,928	1,099,564	7,338,540	6,354,120
2018-05-11	$47.12	$43.75	18.1%	5.1%	33.5%	14.0%	18.8%	1.8%	-0.2%	424.2M	-13.34B	-74.7M	0.72	1.79	N/A	N/A	1,310,312	939,000	6,561,968	6,714,228
2018-05-14	$47.04	$43.75	17.3%	5.0%	33.6%	9.8%	18.7%	2.2%	0.6%	501.0M	-13.17B	-74.0M	0.77	1.34	N/A	N/A	694,396	536,700	6,465,380	6,309,424
2018-05-15	$46.49	$43.75	18.3%	5.2%	33.7%	15.0%	18.8%	2.3%	0.1%	291.1M	-11.12B	-73.9M	0.72	1.27	N/A	N/A	901,772	648,772	6,567,520	6,471,908
2018-05-16	$46.97	$43.75	17.3%	5.0%	33.7%	9.7%	18.3%	2.2%	0.6%	460.4M	-12.88B	-74.2M	0.65	1.26	N/A	N/A	828,720	542,700	6,665,292	6,568,680
2018-05-17	$46.80	$43.75	17.5%	5.0%	31.7%	11.0%	17.9%	1.9%	-0.2%	382.3M	-12.14B	-74.4M	0.85	1.23	N/A	N/A	684,692	580,248	6,774,564	6,680,156
2018-05-18	$46.66	$43.75	17.0%	4.9%	26.8%	7.9%	17.5%	1.8%	-0.2%	353.7M	-11.63B	-72.8M	0.77	1.01	N/A	N/A	910,800	705,152	6,841,556	6,726,632
2018-05-21	$46.81	$43.75	16.9%	4.8%	26.5%	7.4%	17.2%	1.6%	0.1%	398.3M	-12.47B	-73.4M	0.60	1.83	N/A	N/A	820,204	489,168	6,280,948	5,424,552
2018-05-22	$46.83	$43.75	16.4%	4.7%	25.1%	4.8%	16.8%	1.7%	0.2%	409.2M	-12.43B	-74.0M	0.73	1.52	N/A	N/A	447,508	327,740	6,489,964	5,554,744
2018-05-23	$46.97	$43.75	16.1%	4.5%	25.1%	3.1%	16.2%	1.7%	0.2%	457.2M	-12.90B	-73.2M	0.75	1.26	N/A	N/A	555,952	416,892	6,554,216	5,611,832
2018-05-24	$47.06	$43.75	16.8%	4.8%	25.1%	6.8%	17.1%	1.7%	0.2%	500.1M	-13.19B	-73.5M	0.74	1.42	N/A	N/A	790,416	587,804	6,632,636	5,692,012
2018-05-25	$47.10	$45.00	16.2%	4.6%	24.6%	3.4%	16.5%	1.7%	0.2%	446.2M	-13.53B	-74.2M	0.69	1.68	N/A	N/A	837,124	576,620	6,788,848	5,847,440
2018-05-29	$46.95	$45.00	18.0%	5.2%	24.6%	13.6%	18.8%	2.3%	-0.5%	390.0M	-12.32B	-74.6M	0.86	1.65	N/A	N/A	652,660	564,056	6,505,252	5,605,044
2018-05-30	$46.82	$45.00	17.5%	5.0%	24.7%	10.8%	17.9%	2.1%	-0.4%	353.3M	-12.03B	-73.8M	0.58	1.10	N/A	N/A	589,912	344,640	6,620,372	5,735,020
2018-05-31	$46.74	$45.00	17.4%	5.0%	17.3%	9.1%	17.8%	2.2%	-0.5%	334.8M	-11.81B	-73.6M	0.68	1.40	N/A	N/A	754,864	515,392	6,747,552	5,808,528