APD Options History — February 2013

In February 2013, APD traded between $77.92 and $82.17. ATM implied volatility averaged 14.9%, placing in the 25.6% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded above realized volatility by 0.7% (HV 20d: 14.2%). Max pain ranged from $78.63 to $78.63. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.90.

Notable Days

2013-02-21: Highest Volume — 1,699 contracts
2013-02-21: Largest IV spike — 45.7% change
2013-02-25: Highest IV Rank — 45.5%
2013-02-25: Largest Expected Move — 5.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$80.73	$77.92	$82.17	$82.08	$79.87
Max Pain	$78.63	$78.63	$78.63	$78.63	$78.63
ATM IV	14.9%	11.6%	19.6%	11.6%	17.5%
Expected Move	4.3%	3.3%	5.6%	3.6%	5.0%
HV 20d	14.2%	12.6%	17.2%	12.7%	17.2%
HV 60d	14.6%	13.9%	15.8%	13.9%	15.8%
IV Rank	25.6%	11.3%	45.5%	11.3%	36.5%
IV Percentile	26.6%	2.4%	77.0%	2.4%	49.6%
Term Structure	0.9%	-1.6%	2.5%	2.3%	-0.2%
VWIV	15.1%	12.3%	20.8%	13.4%	17.2%
Skew 25d	4.5%	3.1%	5.6%	5.6%	3.4%
Skew 10d	10.0%	1.1%	12.3%	12.3%	8.1%
Call IV 25d	13.3%	10.0%	19.6%	10.0%	16.2%
Put IV 25d	17.8%	15.4%	23.6%	15.7%	19.5%
Bid-Ask Spread %	15.35	8.96	34.82	34.82	17.02
Gamma HHI	0.57	0.35	0.77	0.66	0.50
Net GEX	3.2M	511.8K	6.9M	4.9M	2.0M
Net DEX	-28.3M	-43.4M	-7.5M	-41.5M	-20.9M
Net VEX	-241.2K	-255.4K	-226.8K	-237.5K	-241.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.90	0.01	3.91	0.17	0.86
Total Volume	574.526	45	1,699	1,060	283
Total OI	24,457.474	21,483	26,458	23,530	24,303

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
2013-02-01	$82.08	$78.63	11.6%	3.6%	12.7%	11.3%	13.4%	5.6%	2.3%	4.9M	-41.5M	-237.5K	0.17	34.82	908	152	12,959	10,571
2013-02-04	$80.61	$78.63	16.8%	4.7%	13.8%	33.5%	16.2%	4.7%	0.6%	2.7M	-27.9M	-245.6K	3.91	11.54	96	376	13,601	10,709
2013-02-05	$80.93	$78.63	16.2%	4.6%	13.8%	31.2%	14.8%	4.2%	0.8%	3.2M	-29.7M	-248.7K	0.34	9.75	965	333	13,655	10,985
2013-02-06	$80.94	$78.63	16.4%	4.6%	13.8%	31.9%	13.0%	4.5%	0.8%	3.4M	-29.8M	-251.4K	0.12	23.46	54	6	14,254	11,207
2013-02-07	$80.81	$78.63	16.3%	4.7%	12.9%	31.4%	12.3%	4.8%	0.8%	2.9M	-29.7M	-244.0K	3.36	14.41	148	497	14,276	11,213
2013-02-08	$81.73	$78.63	12.5%	3.6%	13.6%	15.2%	15.6%	5.0%	2.4%	4.9M	-37.2M	-255.4K	2.18	15.51	130	283	14,324	11,513
2013-02-11	$81.79	$78.63	12.8%	3.7%	13.4%	16.6%	12.9%	5.4%	2.2%	5.3M	-39.0M	-249.7K	0.21	11.35	962	200	14,375	11,485
2013-02-12	$82.17	$78.63	12.6%	3.6%	13.4%	15.6%	13.0%	5.4%	2.4%	6.9M	-43.2M	-255.1K	0.21	11.70	37	8	14,862	11,574
2013-02-13	$82.13	$78.63	12.3%	3.5%	13.4%	14.4%	12.6%	5.1%	2.5%	6.9M	-43.4M	-250.3K	0.01	11.00	386	2	14,877	11,581
2013-02-14	$82.04	$78.63	12.3%	3.5%	13.2%	14.4%	14.3%	4.7%	2.4%	4.6M	-38.3M	-241.2K	0.01	12.14	169	2	14,522	11,406
2013-02-15	$81.62	$78.63	12.3%	3.5%	12.6%	14.3%	15.5%	4.1%	2.4%	2.9M	-34.5M	-241.4K	1.30	11.90	86	112	14,560	11,408
2013-02-19	$82.05	$78.63	11.7%	3.3%	12.7%	11.6%	13.1%	4.7%	1.2%	3.2M	-32.5M	-234.0K	0.18	18.09	506	93	11,373	10,110
2013-02-20	$81.05	$78.63	12.2%	3.5%	13.0%	13.8%	13.2%	3.1%	0.8%	2.7M	-26.9M	-230.8K	0.26	19.30	124	32	11,838	10,167
2013-02-21	$79.25	$78.63	17.7%	5.1%	14.7%	37.5%	16.3%	4.4%	-0.6%	1.4M	-16.4M	-226.8K	0.43	14.05	1,190	509	11,889	10,198
2013-02-22	$79.64	$78.63	17.2%	4.9%	14.9%	35.1%	16.1%	5.0%	-0.1%	1.6M	-17.3M	-235.3K	2.12	8.96	209	443	12,703	10,572
2013-02-25	$77.92	$78.63	19.6%	5.6%	16.5%	45.5%	20.8%	4.0%	-1.6%	562.1K	-7.5M	-230.3K	0.49	11.23	286	139	12,776	10,946
2013-02-26	$78.02	$78.63	18.1%	5.2%	16.6%	39.3%	18.1%	3.7%	-0.7%	511.8K	-7.7M	-227.0K	0.16	20.04	694	109	12,851	10,909
2013-02-27	$79.15	$78.63	17.8%	5.1%	17.1%	37.8%	17.7%	4.3%	-0.5%	1.1M	-14.9M	-237.1K	0.75	15.40	222	165	13,178	10,962
2013-02-28	$79.87	$78.63	17.5%	5.0%	17.2%	36.5%	17.2%	3.4%	-0.2%	2.0M	-20.9M	-241.7K	0.86	17.02	152	131	13,283	11,020