APD Options History — February 2015

In February 2015, APD traded between $136.61 and $145.85. ATM implied volatility averaged 18.9%, placing in the 11.6% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded below realized volatility by 5.1% (HV 20d: 24.0%). Max pain ranged from $129.51 to $134.14. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 1.12.

Notable Days

2015-02-27: Highest Volume — 6,335 contracts
2015-02-20: Largest IV drop — 10.3% change
2015-02-02: Highest IV Rank — 21.4%
2015-02-02: Largest Expected Move — 6.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$141.39	$136.61	$145.85	$136.61	$144.52
Max Pain	$131.70	$129.51	$134.14	$129.51	$134.14
ATM IV	18.9%	15.7%	22.1%	22.1%	15.9%
Expected Move	5.5%	4.5%	6.3%	6.3%	4.6%
HV 20d	24.0%	13.1%	28.5%	28.5%	13.1%
HV 60d	22.6%	22.2%	23.1%	22.6%	22.3%
IV Rank	11.6%	1.7%	21.4%	21.4%	2.2%
IV Percentile	21.5%	0.4%	53.6%	53.6%	2.4%
Term Structure	2.4%	-0.1%	4.1%	-0.1%	3.3%
VWIV	19.9%	16.3%	23.9%	23.9%	16.7%
Skew 25d	3.2%	2.3%	4.0%	3.6%	2.9%
Skew 10d	7.1%	5.5%	9.0%	8.5%	5.6%
Call IV 25d	18.0%	14.7%	21.6%	21.6%	14.7%
Put IV 25d	21.2%	17.5%	25.1%	25.1%	17.5%
Bid-Ask Spread %	22.81	17.87	28.59	27.52	21.89
Gamma HHI	0.22	0.18	0.26	0.23	0.20
Net GEX	9.0M	7.5M	10.0M	8.7M	8.2M
Net DEX	-221.7M	-263.8M	-188.7M	-193.7M	-224.0M
Net VEX	-983.1K	-1.1M	-903.7K	-1.1M	-929.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.12	0.34	4.23	0.34	1.53
Total Volume	3,677.684	903	6,335	1,679	6,335
Total OI	40,461	37,389	42,285	40,835	40,393

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
2015-02-02	$136.61	$129.51	22.1%	6.3%	28.5%	21.4%	23.9%	3.6%	-0.1%	8.7M	-193.7M	-1.1M	0.34	27.52	1,257	422	28,198	12,637
2015-02-03	$137.20	$129.51	21.0%	6.0%	25.3%	18.0%	21.9%	3.5%	0.5%	9.0M	-198.5M	-1.1M	0.67	27.36	3,168	2,110	28,024	13,035
2015-02-04	$137.13	$129.51	21.4%	6.2%	25.3%	19.5%	22.6%	2.9%	0.8%	8.9M	-188.7M	-1.1M	0.74	28.59	2,614	1,937	27,458	13,288
2015-02-05	$139.98	$129.51	20.8%	6.3%	26.0%	17.5%	22.7%	3.7%	1.6%	9.3M	-220.3M	-1.1M	0.79	24.25	1,824	1,442	27,693	13,571
2015-02-06	$138.93	$129.51	20.5%	6.2%	25.3%	16.6%	21.7%	3.6%	1.7%	9.4M	-203.5M	-1.0M	0.52	23.25	2,764	1,443	26,880	13,636
2015-02-09	$138.41	$129.51	21.3%	6.2%	24.8%	18.8%	22.4%	3.8%	1.9%	9.5M	-196.3M	-1.0M	0.76	23.19	1,765	1,338	26,776	13,671
2015-02-10	$139.01	$129.51	20.3%	6.0%	24.6%	16.0%	21.3%	4.0%	2.3%	9.7M	-202.7M	-997.0K	0.82	24.43	1,758	1,443	26,806	13,695
2015-02-11	$138.61	$129.51	21.1%	6.1%	24.4%	18.4%	23.1%	3.5%	2.2%	10.0M	-199.6M	-998.8K	0.91	23.13	1,625	1,476	26,960	13,684
2015-02-12	$140.69	$129.51	20.5%	5.9%	24.3%	16.5%	20.4%	3.2%	2.3%	9.9M	-226.4M	-970.9K	0.66	20.57	2,321	1,524	26,972	13,725
2015-02-13	$141.30	$129.51	18.6%	5.3%	24.1%	10.7%	20.1%	3.5%	3.1%	10.0M	-234.9M	-969.2K	0.88	20.02	2,795	2,453	27,240	13,665
2015-02-17	$141.78	$134.14	18.4%	5.3%	24.1%	10.0%	19.9%	3.2%	3.1%	9.9M	-241.6M	-958.3K	0.42	21.31	3,202	1,356	27,812	14,401
2015-02-18	$142.24	$134.14	17.9%	5.1%	23.9%	8.3%	18.7%	3.1%	3.1%	9.9M	-248.3M	-944.5K	0.66	24.30	2,153	1,430	27,821	14,464
2015-02-19	$144.38	$134.14	17.5%	5.0%	24.1%	7.3%	17.4%	2.3%	3.5%	8.1M	-249.1M	-919.0K	0.79	22.55	709	557	26,221	14,768
2015-02-20	$145.85	$134.14	15.7%	4.5%	24.1%	1.7%	17.2%	3.1%	4.1%	7.5M	-263.8M	-908.5K	0.55	19.01	584	319	26,625	15,115
2015-02-23	$144.32	$134.14	17.1%	4.9%	24.5%	6.1%	17.8%	2.8%	2.9%	8.2M	-225.2M	-906.9K	0.83	20.48	1,775	1,472	24,741	12,648
2015-02-24	$145.25	$134.14	16.6%	4.8%	24.4%	4.3%	17.8%	3.1%	3.1%	8.2M	-233.7M	-913.9K	0.98	17.87	1,590	1,565	24,998	12,771
2015-02-25	$145.25	$134.14	16.4%	4.7%	23.9%	3.7%	17.2%	2.8%	2.9%	8.5M	-235.2M	-903.7K	4.23	23.55	897	3,795	25,063	12,977
2015-02-26	$144.92	$134.14	16.3%	4.7%	22.3%	3.4%	16.3%	3.1%	3.1%	7.9M	-226.1M	-938.7K	4.23	20.16	891	3,767	25,104	15,223
2015-02-27	$144.52	$134.14	15.9%	4.6%	13.1%	2.2%	16.7%	2.9%	3.3%	8.2M	-224.0M	-929.3K	1.53	21.89	2,501	3,834	25,121	15,272