AAPL Options History — May 2025

In May 2025, AAPL traded between $195.56 and $213.45. ATM implied volatility averaged 30.0%, placing in the 28.4% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 15.2% (HV 20d: 45.2%). Max pain ranged from $200.00 to $210.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.66.

Notable Days

2025-05-02: Highest Volume — 1,885,767 contracts
2025-05-12: Largest IV drop — 13.3% change
2025-05-23: Highest IV Rank — 36.3%
2025-05-01: Largest Expected Move — 11.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$203.84	$195.56	$213.45	$213.45	$199.87
Max Pain	$205.24	$200.00	$210.00	$210.00	$200.00
ATM IV	30.0%	25.7%	34.1%	33.8%	29.8%
Expected Move	8.7%	7.3%	11.4%	11.4%	8.7%
HV 20d	45.2%	31.5%	84.1%	84.1%	33.8%
HV 60d	54.1%	52.6%	54.8%	52.6%	54.8%
IV Rank	28.4%	20.2%	36.3%	35.8%	28.0%
IV Percentile	81.6%	58.3%	91.7%	90.9%	82.9%
Term Structure	-0.1%	-0.8%	0.7%	-0.8%	-0.4%
VWIV	29.9%	25.4%	40.5%	40.5%	29.8%
Skew 25d	4.8%	3.3%	6.6%	6.6%	4.2%
Skew 10d	9.9%	7.0%	13.0%	13.0%	8.6%
Call IV 25d	28.0%	24.6%	31.5%	31.0%	28.3%
Put IV 25d	32.8%	28.2%	37.5%	37.5%	32.5%
Bid-Ask Spread %	1.87	1.47	3.20	2.34	1.80
Gamma HHI	0.05	0.04	0.10	0.05	0.04
Net GEX	183.0M	-223.6M	549.3M	316.1M	207.7M
Net DEX	-4.10B	-11.26B	1.68B	-9.24B	-2.95B
Net VEX	-141.8M	-148.4M	-136.0M	-148.4M	-140.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.66	0.42	1.14	0.83	0.74
Total Volume	931,685.952	544,534	1,885,767	936,318	885,985
Total OI	5,160,147.238	4,791,495	5,451,434	4,870,243	5,391,406

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
2025-05-01	$213.45	$210.00	33.8%	11.4%	84.1%	35.8%	40.5%	6.6%	-0.8%	316.1M	-9.24B	-148.4M	0.83	2.34	N/A	N/A	511,243	425,075	2,637,501	2,232,742
2025-05-02	$204.19	$210.00	29.4%	8.8%	76.2%	27.3%	31.7%	5.4%	-0.1%	-223.6M	-1.17B	-138.7M	0.59	1.94	N/A	N/A	1,184,163	701,604	2,774,539	2,360,680
2025-05-05	$199.13	$205.00	32.0%	9.1%	74.2%	32.3%	31.8%	6.2%	0.4%	-21.2M	633.0M	-136.0M	0.67	1.99	N/A	N/A	559,442	373,020	2,682,108	2,144,071
2025-05-06	$200.13	$205.00	31.8%	9.1%	69.9%	31.8%	33.1%	6.0%	0.7%	63.0M	-680.9M	-139.0M	0.56	2.05	N/A	N/A	395,627	223,004	2,815,347	2,247,905
2025-05-07	$196.56	$205.00	34.0%	9.6%	67.3%	36.1%	33.5%	6.5%	0.4%	-54.5M	1.57B	-138.2M	0.68	3.20	N/A	N/A	582,817	397,150	2,893,169	2,306,171
2025-05-08	$198.41	$205.00	31.2%	8.9%	43.3%	30.9%	32.3%	5.0%	0.5%	77.7M	-198.9M	-140.4M	0.54	2.13	N/A	N/A	564,337	303,731	2,984,653	2,358,968
2025-05-09	$198.55	$205.00	30.6%	8.8%	40.4%	29.6%	30.7%	5.1%	0.4%	11.0M	-108.0M	-139.5M	0.51	1.74	N/A	N/A	538,260	272,180	3,025,987	2,380,306
2025-05-12	$210.12	$205.00	26.6%	7.6%	42.1%	21.8%	27.3%	4.0%	-0.2%	452.9M	-9.34B	-142.7M	0.48	1.59	N/A	N/A	730,551	354,234	2,835,018	2,260,389
2025-05-13	$212.82	$205.00	25.7%	7.3%	40.2%	20.2%	26.1%	3.3%	-0.3%	549.3M	-11.26B	-146.1M	0.44	1.63	N/A	N/A	536,936	236,000	2,896,982	2,308,619
2025-05-14	$211.44	$205.00	28.0%	7.9%	39.8%	24.6%	27.6%	3.7%	-0.4%	531.7M	-10.17B	-147.2M	0.42	1.56	N/A	N/A	591,351	249,132	2,957,617	2,330,061
2025-05-15	$210.43	$205.00	27.0%	7.6%	36.0%	22.7%	25.4%	3.7%	-0.6%	526.5M	-9.07B	-146.1M	0.74	1.55	N/A	N/A	524,908	387,015	3,036,648	2,369,370
2025-05-16	$211.26	$205.00	26.0%	7.4%	35.7%	20.7%	25.9%	3.7%	-0.4%	541.2M	-10.04B	-144.7M	0.57	1.73	N/A	N/A	554,530	316,199	3,069,698	2,381,736
2025-05-19	$208.28	$205.00	27.3%	7.8%	34.5%	23.2%	26.2%	4.2%	-0.4%	287.9M	-6.77B	-142.6M	0.77	1.47	N/A	N/A	429,215	328,720	2,691,927	2,099,568
2025-05-20	$206.12	$205.00	28.5%	8.1%	32.6%	25.5%	27.5%	4.5%	-0.0%	224.8M	-5.52B	-141.6M	0.52	1.75	N/A	N/A	371,150	191,947	2,784,024	2,143,162
2025-05-21	$201.82	$205.00	31.3%	9.0%	32.2%	30.9%	31.1%	5.4%	0.5%	37.1M	-2.37B	-142.3M	0.76	2.08	N/A	N/A	582,266	444,051	2,827,463	2,163,091
2025-05-22	$201.58	$205.00	30.7%	8.8%	31.5%	29.8%	26.6%	4.7%	0.3%	20.1M	-2.53B	-142.5M	0.82	1.68	N/A	N/A	523,516	430,094	2,912,410	2,214,476
2025-05-23	$195.56	$205.00	34.1%	9.8%	33.0%	36.3%	33.0%	5.9%	-0.1%	-179.7M	1.68B	-138.8M	1.14	1.83	N/A	N/A	728,200	831,980	2,989,767	2,236,214
2025-05-27	$200.27	$205.00	30.8%	8.9%	34.0%	29.9%	30.7%	4.4%	-0.2%	132.1M	-2.81B	-140.5M	0.62	1.51	N/A	N/A	483,539	301,485	2,871,369	2,229,914
2025-05-28	$201.21	$205.00	30.2%	8.8%	34.1%	28.9%	28.7%	4.3%	-0.3%	214.2M	-3.64B	-141.4M	0.61	1.56	N/A	N/A	338,602	205,932	2,964,012	2,261,076
2025-05-29	$199.52	$205.00	30.4%	8.9%	34.1%	29.3%	28.8%	4.3%	-0.4%	128.0M	-2.23B	-140.0M	0.85	2.05	N/A	N/A	526,793	449,421	3,010,473	2,282,455
2025-05-30	$199.87	$200.00	29.8%	8.7%	33.8%	28.0%	29.8%	4.2%	-0.4%	207.7M	-2.95B	-140.5M	0.74	1.80	N/A	N/A	510,398	375,587	3,096,599	2,294,807