APD Options History — March 2020

In March 2020, APD traded between $177.71 and $236.61. ATM implied volatility averaged 55.2%, placing in the 78.4% IV rank vs the trailing year. The 30-day expected move averaged 15.5%. IV traded below realized volatility by 12.0% (HV 20d: 67.2%). Max pain ranged from $210.00 to $240.00. Net GEX was positive for 1 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 2.13.

Notable Days

  • 2020-03-05: Highest Volume — 5,689 contracts
  • 2020-03-09: Largest IV spike — 58.7% change
  • 2020-03-09: Highest IV Rank — 100.0%
  • 2020-03-16: Largest Expected Move — 23.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$204.91$177.71$236.61$227.48$200.74
Max Pain$224.09$210.00$240.00$240.00$210.00
ATM IV55.2%25.9%80.9%32.3%52.4%
Expected Move15.5%7.4%23.2%9.3%15.0%
HV 20d67.2%37.9%90.6%38.4%87.8%
HV 60d42.8%26.4%56.1%26.4%56.1%
IV Rank78.4%47.4%100.0%70.4%58.2%
IV Percentile97.7%88.9%100.0%99.6%94.0%
Term Structure-6.3%-16.6%3.0%-5.1%-4.7%
VWIV52.4%28.3%78.3%32.1%53.1%
Skew 25d15.1%3.2%26.1%8.1%15.8%
Skew 10d32.1%7.9%54.4%18.2%41.7%
Call IV 25d47.9%28.6%69.2%30.4%44.2%
Put IV 25d63.0%31.8%92.4%38.5%60.1%
Bid-Ask Spread %68.6436.7287.8552.2986.11
Gamma HHI0.310.150.480.150.35
Net GEX-2.0M-5.7M426.3K-324.7K-758.8K
Net DEX77.9M-4.3M164.8M20.4M28.6M
Net VEX-273.0K-407.8K-169.9K-253.6K-238.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.130.1219.390.991.59
Total Volume737.9091885,689271246
Total OI13,529.4098,65617,6869,9469,480

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-03-02$227.48$240.0032.3%9.3%38.4%70.4%32.1%8.1%-5.1%-324.7K20.4M-253.6K0.9952.291361354,8905,056
2020-03-03$228.54$240.0035.7%10.2%37.9%82.4%36.3%9.8%-5.4%-239.6K17.5M-260.1K4.0467.681596424,8735,044
2020-03-04$236.61$240.0025.9%7.4%39.5%47.4%28.3%3.2%-1.1%426.3K-4.3M-292.4K7.5568.592001,5104,9665,583
2020-03-05$232.46$230.0039.8%10.3%39.5%97.2%36.0%6.4%-4.2%-241.3K7.3M-333.6K19.3936.722795,4105,1027,013
2020-03-06$228.58$230.0039.2%10.5%39.7%95.1%34.9%7.7%-2.9%-5.3M58.7M-407.8K0.5550.813892125,24412,109
2020-03-09$207.08$230.0062.2%14.4%51.9%100.0%44.5%10.8%-8.7%-5.0M137.2M-335.3K1.0654.071061125,37912,144
2020-03-10$213.10$230.0059.6%14.4%53.4%94.8%46.5%14.0%-7.8%-5.7M118.1M-359.4K0.2946.84269795,36912,130
2020-03-11$207.53$230.0052.7%15.1%53.5%80.8%54.2%14.7%-8.2%-5.0M131.9M-336.6K5.9350.39301785,53012,126
2020-03-12$190.20$230.0064.5%18.5%59.8%100.0%64.2%13.4%-13.0%-2.9M162.3M-261.8K0.7071.841491045,53412,152
2020-03-13$200.30$230.0060.0%17.2%64.0%91.5%59.5%15.5%-10.5%-3.9M135.6M-285.1K0.8163.943612915,59611,257
2020-03-16$184.62$230.0080.9%23.2%68.3%100.0%73.8%23.2%-16.6%-2.1M150.1M-236.6K0.2066.839071855,88211,308
2020-03-17$202.00$230.0073.5%21.1%77.9%89.1%68.8%20.1%-12.3%-3.6M111.0M-316.6K0.2666.72305796,24011,344
2020-03-18$192.10$230.0077.5%22.2%78.9%95.1%78.3%26.1%-9.7%-2.6M139.2M-266.5K0.3368.32207696,14911,378
2020-03-19$195.99$220.0070.1%20.1%79.7%84.1%61.8%20.1%-10.5%-1.7M148.3M-254.7K0.2869.43213606,17011,379
2020-03-20$185.95$220.0059.6%17.1%80.8%68.8%52.4%16.0%-7.1%-1.4M164.8M-190.1K0.1986.438971686,28811,388
2020-03-23$177.71$210.0057.6%16.5%81.2%65.9%55.5%20.5%-3.3%-498.5K50.1M-169.9K0.5580.84164914,1704,486
2020-03-24$195.94$210.0053.1%15.2%90.1%59.3%52.2%12.0%-1.7%-755.9K33.1M-227.6K0.4087.85134544,2334,430
2020-03-25$199.78$210.0055.1%15.8%90.6%62.2%56.8%17.5%-3.7%-605.2K25.9M-247.0K0.1281.37419494,2994,463
2020-03-26$197.99$210.0050.2%14.4%89.7%55.0%54.3%16.9%3.0%-688.3K29.9M-237.6K0.4384.72162694,4864,504
2020-03-27$196.80$210.0058.4%16.7%88.1%67.0%56.3%22.0%-3.2%-629.2K30.4M-236.5K0.6883.772001364,5804,565
2020-03-30$206.45$210.0054.3%15.6%87.5%61.0%52.1%18.3%-1.2%-515.0K17.2M-259.9K0.4784.544562134,6854,643
2020-03-31$200.74$210.0052.4%15.0%87.8%58.2%53.1%15.8%-4.7%-758.8K28.6M-238.5K1.5986.11951514,6354,845