APD Options History — September 2018

In September 2018, APD traded between $164.32 and $171.01. ATM implied volatility averaged 14.9%, placing in the 26.0% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded above realized volatility by 1.9% (HV 20d: 13.0%). Max pain ranged from $160.00 to $170.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 19 of 19 days. Put/call ratio averaged 1.30.

Notable Days

2018-09-14: Highest Volume — 5,117 contracts
2018-09-28: Largest IV spike — 9.0% change
2018-09-11: Highest IV Rank — 31.5%
2018-09-11: Largest Expected Move — 4.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$167.74	$164.32	$171.01	$164.32	$167.15
Max Pain	$165.26	$160.00	$170.00	$160.00	$170.00
ATM IV	14.9%	14.1%	15.9%	15.7%	15.4%
Expected Move	4.3%	4.0%	4.6%	4.5%	4.4%
HV 20d	13.0%	10.1%	17.8%	17.2%	10.1%
HV 60d	15.4%	14.6%	16.3%	16.2%	14.8%
IV Rank	26.0%	21.7%	31.5%	30.2%	28.6%
IV Percentile	37.8%	24.2%	51.6%	49.2%	42.9%
Term Structure	1.8%	0.1%	2.9%	0.1%	2.5%
VWIV	16.2%	14.3%	18.3%	16.5%	15.1%
Skew 25d	2.6%	1.9%	3.7%	1.9%	2.7%
Skew 10d	5.2%	3.4%	8.1%	3.4%	5.7%
Call IV 25d	14.2%	13.3%	15.4%	15.4%	13.9%
Put IV 25d	16.8%	15.8%	17.8%	17.3%	16.6%
Bid-Ask Spread %	20.16	12.22	34.86	18.61	13.74
Gamma HHI	0.31	0.16	0.59	0.24	0.16
Net GEX	9.3M	3.6M	14.5M	7.9M	3.6M
Net DEX	-65.2M	-116.6M	-35.8M	-43.0M	-35.8M
Net VEX	-377.5K	-422.4K	-341.9K	-421.2K	-352.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.30	0.45	2.09	1.47	1.17
Total Volume	2,211.263	1,639	5,117	1,850	1,680
Total OI	21,042.053	15,395	23,275	22,562	16,226

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
2018-09-04	$164.32	$160.00	15.7%	4.5%	17.2%	30.2%	16.5%	1.9%	0.1%	7.9M	-43.0M	-421.2K	1.47	18.61	750	1,100	14,147	8,415
2018-09-05	$165.54	$160.00	15.5%	4.4%	17.3%	29.4%	15.6%	2.3%	0.1%	8.8M	-55.1M	-422.4K	1.39	24.75	808	1,127	14,165	8,500
2018-09-06	$166.28	$165.00	15.3%	4.5%	17.3%	28.1%	16.6%	3.0%	1.5%	9.8M	-60.9M	-418.5K	1.44	18.56	770	1,107	14,238	8,561
2018-09-07	$164.70	$165.00	15.2%	4.4%	17.8%	27.6%	16.7%	2.8%	1.6%	8.4M	-47.6M	-411.2K	1.76	12.60	701	1,232	14,241	8,571
2018-09-10	$166.04	$165.00	15.4%	4.4%	16.3%	28.8%	17.6%	2.9%	1.4%	10.1M	-57.8M	-398.7K	1.66	16.76	726	1,202	14,238	8,679
2018-09-11	$166.93	$165.00	15.9%	4.6%	12.5%	31.5%	14.6%	3.7%	1.4%	10.9M	-66.5M	-401.0K	1.36	34.86	896	1,216	14,267	8,685
2018-09-12	$166.18	$165.00	15.7%	4.5%	12.1%	30.3%	17.0%	3.0%	1.5%	10.3M	-58.0M	-389.1K	1.78	13.01	700	1,244	14,350	8,687
2018-09-13	$167.57	$165.00	14.8%	4.2%	12.4%	25.5%	15.2%	3.3%	1.6%	12.4M	-75.7M	-386.8K	1.68	34.07	1,083	1,819	14,362	8,708
2018-09-14	$168.59	$165.00	14.2%	4.1%	12.5%	22.5%	16.6%	2.6%	2.3%	14.1M	-87.9M	-385.7K	0.45	15.56	3,525	1,592	14,582	8,693
2018-09-17	$168.51	$165.00	14.7%	4.2%	11.7%	25.1%	15.8%	2.5%	2.1%	13.6M	-84.9M	-372.2K	2.09	26.48	882	1,844	14,414	8,720
2018-09-18	$169.02	$165.00	14.4%	4.1%	11.7%	23.5%	15.8%	2.6%	1.9%	11.9M	-87.7M	-359.0K	0.82	16.05	1,480	1,207	13,747	8,858
2018-09-19	$169.25	$165.00	14.8%	4.2%	11.6%	25.3%	18.3%	2.5%	1.7%	12.4M	-90.1M	-363.1K	1.33	23.27	868	1,157	13,876	8,921
2018-09-20	$170.70	$165.00	14.2%	4.1%	11.1%	22.4%	15.8%	2.1%	2.3%	14.5M	-108.8M	-356.4K	1.24	22.17	918	1,138	13,863	8,937
2018-09-21	$171.01	$165.00	14.1%	4.0%	11.0%	21.7%	14.3%	2.6%	2.0%	13.1M	-116.6M	-346.8K	0.98	24.46	1,041	1,025	13,892	8,914
2018-09-24	$169.87	$165.00	14.6%	4.2%	11.0%	24.5%	15.1%	2.2%	2.7%	3.9M	-45.9M	-341.9K	0.99	23.10	922	914	8,658	6,737
2018-09-25	$168.83	$165.00	14.5%	4.2%	10.9%	23.9%	16.3%	2.2%	2.7%	3.8M	-40.1M	-345.2K	0.86	18.06	1,060	908	8,945	6,803
2018-09-26	$168.13	$170.00	14.5%	4.2%	11.0%	23.9%	17.8%	2.2%	2.9%	3.7M	-37.4M	-351.9K	1.09	14.71	784	855	9,189	6,866
2018-09-27	$168.46	$170.00	14.1%	4.0%	10.7%	21.7%	16.2%	1.9%	2.9%	3.8M	-39.2M	-349.9K	1.18	12.22	794	939	9,244	6,900
2018-09-28	$167.15	$170.00	15.4%	4.4%	10.1%	28.6%	15.1%	2.7%	2.5%	3.6M	-35.8M	-352.0K	1.17	13.74	774	906	9,255	6,971