APD Options History — February 2018

In February 2018, APD traded between $153.42 and $166.64. ATM implied volatility averaged 20.1%, placing in the 55.9% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded below realized volatility by 6.6% (HV 20d: 26.7%). Max pain ranged from $160.00 to $160.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.61.

Notable Days

2018-02-06: Highest Volume — 5,042 contracts
2018-02-05: Largest IV spike — 59.0% change
2018-02-05: Highest IV Rank — 100.0%
2018-02-09: Largest Expected Move — 7.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$161.40	$153.42	$166.64	$166.64	$161.26
Max Pain	$160.00	$160.00	$160.00	$160.00	$160.00
ATM IV	20.1%	15.7%	28.5%	17.2%	19.3%
Expected Move	5.6%	4.5%	7.0%	4.9%	5.5%
HV 20d	26.7%	17.7%	29.4%	17.7%	27.3%
HV 60d	17.7%	12.7%	19.3%	12.7%	19.3%
IV Rank	55.9%	30.6%	100.0%	51.7%	49.7%
IV Percentile	87.5%	66.3%	100.0%	83.7%	88.1%
Term Structure	-0.2%	-1.9%	1.4%	1.4%	-1.5%
VWIV	20.1%	16.7%	26.7%	16.9%	17.9%
Skew 25d	4.4%	2.4%	7.3%	2.4%	3.8%
Skew 10d	8.6%	4.5%	15.8%	4.8%	7.2%
Call IV 25d	18.0%	15.0%	22.7%	15.7%	17.3%
Put IV 25d	22.4%	18.1%	29.8%	18.1%	21.1%
Bid-Ask Spread %	27.40	14.86	52.80	20.27	26.69
Gamma HHI	0.19	0.14	0.33	0.24	0.19
Net GEX	2.7M	595.7K	4.7M	3.8M	3.7M
Net DEX	-29.3M	-60.0M	17.0M	-44.9M	-30.4M
Net VEX	-417.9K	-468.3K	-361.1K	-404.6K	-402.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.61	0.41	1.06	0.73	1.06
Total Volume	2,464.684	1,333	5,042	1,795	1,333
Total OI	17,916.105	14,981	21,716	15,933	15,849

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
2018-02-01	$166.64	$160.00	17.2%	4.9%	17.7%	51.7%	16.9%	2.4%	1.4%	3.8M	-44.9M	-404.6K	0.73	20.27	1,040	755	10,017	5,916
2018-02-02	$162.90	$160.00	17.8%	5.0%	19.4%	56.7%	17.3%	3.0%	1.0%	2.0M	-22.7M	-398.3K	0.71	23.55	997	711	10,176	6,098
2018-02-05	$157.03	$160.00	28.4%	6.7%	22.7%	100.0%	20.4%	4.5%	-1.9%	679.2K	3.7M	-361.1K	0.63	52.80	1,499	945	10,194	6,180
2018-02-06	$160.22	$160.00	28.5%	6.6%	24.2%	100.0%	22.7%	5.2%	-1.8%	1.1M	-7.7M	-401.8K	0.45	35.75	3,483	1,559	10,407	6,516
2018-02-07	$158.73	$160.00	21.2%	6.1%	24.2%	60.4%	21.3%	4.2%	-0.6%	1.2M	-7.7M	-421.6K	0.66	38.73	2,337	1,532	11,695	7,314
2018-02-08	$153.42	$160.00	24.3%	7.0%	26.6%	76.8%	24.3%	5.4%	-1.7%	595.7K	17.0M	-414.5K	0.79	38.88	1,846	1,461	12,089	7,521
2018-02-09	$158.16	$160.00	24.4%	7.0%	29.0%	77.6%	26.7%	7.3%	-1.4%	1.5M	-11.5M	-468.3K	0.43	48.85	2,360	1,013	12,503	8,052
2018-02-12	$159.69	$160.00	21.8%	6.2%	29.3%	63.5%	23.9%	5.7%	-0.4%	1.5M	-22.9M	-452.4K	0.42	28.82	1,998	841	13,074	8,175
2018-02-13	$159.64	$160.00	20.5%	5.9%	28.8%	56.6%	22.6%	5.1%	0.4%	1.1M	-22.7M	-440.4K	0.43	25.85	1,978	860	13,113	8,185
2018-02-14	$161.33	$160.00	19.9%	5.7%	28.9%	52.9%	19.6%	4.2%	0.3%	1.2M	-37.8M	-435.9K	0.41	26.08	1,683	691	13,132	8,295
2018-02-15	$163.37	$160.00	17.8%	5.1%	29.2%	41.7%	19.5%	4.4%	1.3%	4.5M	-58.5M	-428.9K	0.79	14.90	1,362	1,072	13,178	8,202
2018-02-16	$164.05	$160.00	17.8%	5.1%	29.2%	41.6%	18.8%	4.4%	1.4%	3.7M	-60.0M	-431.8K	0.60	21.19	1,239	746	13,223	8,493
2018-02-20	$163.21	$160.00	17.9%	5.1%	29.1%	42.3%	20.3%	4.7%	0.2%	3.7M	-40.7M	-422.2K	0.67	22.15	1,217	812	9,174	5,807
2018-02-21	$161.02	$160.00	19.2%	5.5%	29.2%	49.3%	19.8%	4.5%	-0.7%	3.3M	-29.9M	-411.4K	0.58	21.66	1,403	817	9,228	6,001
2018-02-22	$162.69	$160.00	17.0%	4.9%	29.4%	37.6%	18.0%	4.4%	0.0%	3.8M	-37.8M	-415.4K	0.55	14.86	1,232	681	9,510	6,013
2018-02-23	$164.16	$160.00	15.7%	4.5%	28.8%	30.6%	16.7%	3.8%	0.8%	4.3M	-44.9M	-417.1K	0.52	19.28	1,151	595	9,569	6,085
2018-02-26	$165.22	$160.00	16.5%	4.7%	27.8%	34.8%	18.2%	3.7%	0.3%	4.7M	-51.8M	-404.1K	0.63	18.25	1,075	674	9,604	6,089
2018-02-27	$163.89	$160.00	17.0%	4.9%	27.2%	37.3%	17.3%	3.5%	-0.2%	4.3M	-46.2M	-407.8K	0.61	22.03	1,138	693	9,632	6,097
2018-02-28	$161.26	$160.00	19.3%	5.5%	27.3%	49.7%	17.9%	3.8%	-1.5%	3.7M	-30.4M	-402.5K	1.06	26.69	646	687	9,693	6,156