APD Options History — January 2010

In January 2010, APD traded between $70.27 and $77.10. ATM implied volatility averaged 23.8%, placing in the 7.3% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded above realized volatility by 4.2% (HV 20d: 19.6%). Max pain ranged from $74.01 to $74.01. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.95.

Notable Days

2010-01-22: Highest Volume — 3,865 contracts
2010-01-12: Largest IV spike — 24.6% change
2010-01-12: Highest IV Rank — 16.8%
2010-01-12: Largest Expected Move — 7.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$74.87	$70.27	$77.10	$76.93	$70.27
Max Pain	$74.01	$74.01	$74.01	$74.01	$74.01
ATM IV	23.8%	21.1%	27.9%	22.8%	25.2%
Expected Move	6.8%	6.1%	7.3%	6.7%	7.2%
HV 20d	19.6%	16.3%	24.0%	18.4%	24.0%
HV 60d	22.4%	20.2%	23.4%	23.0%	20.2%
IV Rank	7.3%	1.1%	16.8%	5.0%	10.9%
IV Percentile	6.9%	0.4%	32.5%	2.4%	13.9%
Term Structure	0.5%	-1.0%	2.7%	0.5%	1.8%
VWIV	23.9%	21.8%	27.1%	26.6%	24.4%
Skew 25d	4.2%	3.2%	5.1%	4.7%	3.2%
Skew 10d	7.9%	3.7%	14.6%	7.7%	11.3%
Call IV 25d	22.2%	20.5%	24.2%	22.4%	24.2%
Put IV 25d	26.4%	24.2%	27.4%	27.1%	27.4%
Bid-Ask Spread %	14.75	9.70	22.18	22.18	15.21
Gamma HHI	0.39	0.23	0.53	0.41	0.23
Net GEX	851.3K	-220.7K	1.6M	1.3M	-220.7K
Net DEX	-10.2M	-19.9M	9.4M	-17.5M	9.4M
Net VEX	-111.6K	-135.9K	-97.3K	-110.8K	-125.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.95	0.10	4.44	0.13	0.68
Total Volume	904.632	95	3,865	496	287
Total OI	16,219.737	10,700	18,953	17,734	16,234

Daily Data (19 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 Vol	Put Vol	Call OI	Put OI
2010-01-04	$76.93	$74.01	22.8%	6.7%	18.4%	5.0%	26.6%	4.7%	0.5%	1.3M	-17.5M	-110.8K	0.13	22.18	440	56	9,607	8,127
2010-01-05	$76.29	$74.01	25.4%	7.3%	18.6%	11.2%	27.1%	4.3%	0.7%	1.3M	-16.3M	-111.4K	1.49	20.30	198	294	9,898	8,141
2010-01-06	$75.66	$74.01	24.6%	7.3%	18.8%	9.3%	23.3%	4.0%	0.1%	1.1M	-13.7M	-112.8K	1.40	9.70	84	118	9,979	8,421
2010-01-07	$75.23	$74.01	24.9%	7.2%	17.8%	9.9%	25.1%	4.6%	-0.5%	1.0M	-11.4M	-109.2K	0.80	10.53	138	111	10,006	8,446
2010-01-08	$75.71	$74.01	23.8%	7.2%	16.3%	7.2%	23.0%	4.3%	0.4%	1.2M	-14.0M	-108.8K	0.33	10.19	71	24	10,053	8,484
2010-01-11	$77.10	$74.01	22.4%	6.6%	17.5%	4.0%	22.4%	4.3%	0.0%	1.6M	-19.9M	-106.5K	0.22	11.91	238	52	10,078	8,477
2010-01-12	$76.11	$74.01	27.9%	7.3%	18.1%	16.8%	25.1%	3.8%	-0.4%	1.3M	-16.0M	-104.7K	0.37	13.20	188	69	10,188	8,447
2010-01-13	$76.87	$74.01	23.6%	6.5%	18.2%	6.9%	24.3%	4.5%	0.2%	1.6M	-18.8M	-103.2K	0.22	14.20	145	31	10,235	8,485
2010-01-14	$75.92	$74.01	25.5%	7.3%	18.7%	11.3%	25.9%	3.9%	-1.0%	1.1M	-15.3M	-101.3K	0.38	12.98	280	107	10,262	8,484
2010-01-15	$76.57	$74.01	22.5%	6.4%	18.6%	4.3%	22.5%	4.4%	0.3%	843.0K	-18.0M	-100.2K	0.67	14.24	458	307	10,435	8,518
2010-01-19	$76.39	$74.01	21.1%	6.1%	17.4%	1.1%	23.6%	4.6%	-0.0%	966.2K	-13.9M	-97.3K	0.52	11.94	391	203	7,142	3,558
2010-01-20	$75.37	$74.01	23.8%	6.8%	18.1%	7.4%	23.2%	3.9%	-0.1%	857.6K	-11.6M	-104.2K	0.31	17.95	309	95	7,516	3,675
2010-01-21	$73.88	$74.01	24.1%	6.9%	19.0%	8.3%	24.3%	4.7%	0.6%	696.7K	-8.1M	-102.5K	0.33	13.37	1,351	441	7,741	3,744
2010-01-22	$72.22	$74.01	22.1%	6.3%	20.2%	3.5%	23.5%	3.7%	1.5%	492.0K	-4.0M	-101.4K	1.47	16.59	1,562	2,303	8,239	3,974
2010-01-25	$74.25	$74.01	22.1%	6.3%	22.7%	3.3%	22.3%	3.6%	0.9%	713.4K	-8.1M	-123.4K	1.62	15.86	925	1,503	8,568	5,344
2010-01-26	$73.62	$74.01	23.0%	6.6%	22.7%	5.6%	23.0%	3.8%	1.2%	303.7K	-3.4M	-132.1K	2.52	15.83	536	1,353	8,982	6,298
2010-01-27	$72.95	$74.01	21.4%	6.1%	22.8%	1.7%	21.8%	3.9%	2.7%	34.7K	673.0K	-135.9K	4.44	17.71	248	1,099	9,158	7,005
2010-01-28	$71.27	$74.01	25.3%	7.3%	23.7%	11.1%	23.0%	5.1%	1.4%	-186.3K	6.7M	-129.0K	0.10	16.36	1,064	109	9,177	7,049
2010-01-29	$70.27	$74.01	25.2%	7.2%	24.0%	10.9%	24.4%	3.2%	1.8%	-220.7K	9.4M	-125.5K	0.68	15.21	171	116	9,153	7,081