APD Options History — February 2019

In February 2019, APD traded between $165.40 and $181.90. ATM implied volatility averaged 16.4%, placing in the 21.0% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded below realized volatility by 2.1% (HV 20d: 18.5%). Max pain ranged from $155.00 to $160.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 19 of 19 days. Put/call ratio averaged 0.77.

Notable Days

2019-02-26: Highest Volume — 1,582 contracts
2019-02-05: Largest IV drop — 14.3% change
2019-02-07: Highest IV Rank — 29.6%
2019-02-07: Largest Expected Move — 5.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$173.32	$165.40	$181.90	$165.68	$180.99
Max Pain	$158.95	$155.00	$160.00	$155.00	$160.00
ATM IV	16.4%	14.8%	18.2%	17.3%	16.2%
Expected Move	4.7%	4.3%	5.2%	5.2%	4.6%
HV 20d	18.5%	14.1%	22.9%	22.9%	14.3%
HV 60d	23.1%	22.3%	24.1%	23.6%	22.3%
IV Rank	21.0%	13.6%	29.6%	25.0%	19.8%
IV Percentile	33.1%	15.5%	49.2%	38.5%	34.5%
Term Structure	0.9%	0.2%	2.1%	0.8%	0.4%
VWIV	16.9%	15.9%	19.3%	18.1%	19.0%
Skew 25d	3.0%	2.5%	3.7%	3.4%	2.5%
Skew 10d	6.8%	5.4%	9.3%	6.9%	9.3%
Call IV 25d	15.2%	14.3%	16.4%	16.3%	15.1%
Put IV 25d	18.2%	16.9%	19.9%	19.7%	17.7%
Bid-Ask Spread %	23.38	15.12	30.22	28.09	30.22
Gamma HHI	0.24	0.18	0.31	0.19	0.24
Net GEX	4.2M	3.4M	4.7M	4.2M	4.7M
Net DEX	-68.5M	-93.8M	-46.5M	-49.6M	-78.6M
Net VEX	-194.8K	-218.4K	-175.0K	-209.5K	-218.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.77	0.09	2.01	1.46	1.20
Total Volume	778.737	272	1,582	877	522
Total OI	14,468.789	10,743	17,263	15,840	12,658

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
2019-02-01	$165.68	$155.00	17.3%	5.2%	22.9%	25.0%	18.1%	3.4%	0.8%	4.2M	-49.6M	-209.5K	1.46	28.09	357	520	7,505	8,335
2019-02-04	$166.48	$155.00	17.7%	5.2%	19.0%	27.2%	16.8%	3.3%	1.2%	4.3M	-54.7M	-199.7K	0.17	28.08	234	40	7,614	8,317
2019-02-05	$167.54	$155.00	15.2%	4.6%	18.9%	15.3%	16.7%	3.3%	2.0%	4.5M	-61.8M	-190.9K	0.09	21.57	888	81	7,686	8,324
2019-02-06	$169.62	$155.00	16.5%	4.7%	17.8%	21.5%	16.8%	3.4%	1.0%	4.5M	-71.3M	-199.1K	1.15	20.15	272	313	7,901	8,341
2019-02-07	$165.85	$160.00	18.2%	5.2%	19.5%	29.6%	17.7%	3.5%	0.6%	4.6M	-49.3M	-215.2K	1.84	18.94	173	319	8,002	8,600
2019-02-08	$165.40	$160.00	17.9%	5.1%	19.6%	27.8%	17.0%	3.3%	0.8%	4.7M	-46.5M	-209.9K	2.01	25.07	120	241	8,021	8,628
2019-02-11	$167.38	$160.00	17.9%	5.1%	19.8%	27.9%	16.2%	3.7%	0.9%	4.7M	-60.5M	-194.4K	0.48	22.39	184	88	8,009	8,615
2019-02-12	$170.67	$160.00	16.4%	4.7%	19.9%	20.9%	16.2%	2.9%	1.5%	4.0M	-79.0M	-179.2K	0.41	26.16	541	221	8,030	8,687
2019-02-13	$172.09	$160.00	16.6%	4.8%	19.8%	21.9%	15.9%	2.9%	2.1%	3.8M	-86.5M	-183.2K	0.52	29.60	508	263	8,239	8,728
2019-02-14	$171.75	$160.00	16.8%	4.8%	19.8%	23.0%	16.2%	3.1%	1.1%	3.7M	-84.3M	-184.5K	0.76	20.92	387	294	8,278	8,802
2019-02-15	$174.11	$160.00	15.5%	4.4%	20.0%	16.8%	17.1%	2.9%	2.0%	3.4M	-93.8M	-183.2K	0.48	15.12	577	276	8,366	8,897
2019-02-19	$175.36	$160.00	15.9%	4.6%	19.4%	18.7%	16.4%	2.9%	0.3%	3.8M	-53.9M	-175.0K	0.12	23.39	902	104	5,721	5,022
2019-02-20	$177.54	$160.00	14.8%	4.3%	19.1%	13.6%	16.0%	2.8%	0.5%	4.3M	-63.0M	-178.0K	0.20	23.42	683	138	6,005	5,078
2019-02-21	$178.54	$160.00	15.6%	4.5%	18.2%	17.4%	16.7%	3.0%	0.4%	4.1M	-65.1M	-185.5K	0.41	26.97	697	285	6,006	5,070
2019-02-22	$179.70	$160.00	15.3%	4.4%	18.1%	15.8%	16.4%	2.7%	0.5%	4.0M	-68.7M	-183.4K	0.55	25.54	765	423	6,069	5,169
2019-02-25	$181.23	$160.00	16.3%	4.7%	15.8%	20.7%	16.0%	3.0%	0.2%	3.9M	-74.7M	-197.4K	1.14	17.70	527	599	6,390	5,485
2019-02-26	$181.90	$160.00	15.8%	4.5%	14.9%	18.3%	16.3%	2.6%	0.2%	4.2M	-80.0M	-200.3K	0.97	21.78	801	781	6,756	5,084
2019-02-27	$181.26	$160.00	15.6%	4.5%	14.1%	17.0%	19.3%	2.6%	0.4%	4.7M	-79.7M	-214.7K	0.71	19.16	394	278	7,254	5,215
2019-02-28	$180.99	$160.00	16.2%	4.6%	14.3%	19.8%	19.0%	2.5%	0.4%	4.7M	-78.6M	-218.4K	1.20	30.22	237	285	7,361	5,297