APD Options History — April 2020

In April 2020, APD traded between $186.72 and $231.27. ATM implied volatility averaged 44.0%, placing in the 45.3% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded below realized volatility by 24.2% (HV 20d: 68.1%). Max pain ranged from $200.00 to $210.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 2.90.

Notable Days

  • 2020-04-09: Highest Volume — 10,211 contracts
  • 2020-04-06: Largest IV drop — 20.4% change
  • 2020-04-02: Highest IV Rank — 67.9%
  • 2020-04-01: Largest Expected Move — 16.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$212.30$186.72$231.27$191.58$225.74
Max Pain$209.05$200.00$210.00$210.00$210.00
ATM IV44.0%33.6%59.0%57.6%36.3%
Expected Move12.7%9.6%16.5%16.5%10.4%
HV 20d68.1%47.3%89.2%87.5%47.3%
HV 60d60.2%56.8%62.0%56.8%62.0%
IV Rank45.3%29.8%67.9%65.9%33.8%
IV Percentile90.2%84.5%96.4%95.6%85.7%
Term Structure-2.9%-9.5%1.7%-1.3%-0.7%
VWIV46.2%31.9%61.7%53.1%35.8%
Skew 25d9.7%6.6%13.6%12.0%9.1%
Skew 10d20.5%13.7%40.0%40.0%20.2%
Call IV 25d40.1%30.2%53.4%53.4%34.7%
Put IV 25d49.8%37.6%65.4%65.4%43.8%
Bid-Ask Spread %57.1535.9386.1086.1035.93
Gamma HHI0.400.170.570.380.48
Net GEX2.0M-1.5M6.2M-986.1K4.7M
Net DEX-18.5M-87.4M50.0M43.1M-62.0M
Net VEX-431.6K-563.4K-206.7K-213.5K-563.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.900.0622.353.850.06
Total Volume1,151.28614610,2112911,175
Total OI18,101.3339,60023,9729,60023,252

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-04-01$191.58$210.0057.6%16.5%87.5%65.9%53.1%12.0%-1.3%-986.1K43.1M-213.5K3.8586.10602314,6514,949
2020-04-02$195.68$200.0059.0%16.3%88.1%67.9%53.5%13.6%-9.5%-829.8K37.1M-232.9K0.5349.29102544,6925,135
2020-04-03$186.72$200.0047.6%14.1%89.2%51.2%50.4%7.9%-2.9%-935.3K50.0M-209.5K1.1060.662813084,7655,184
2020-04-06$193.18$210.0037.9%11.9%84.0%37.0%41.6%9.5%0.2%-1.5M46.8M-206.7K1.4370.88821174,8485,437
2020-04-07$204.17$210.0041.0%13.4%85.8%40.7%44.6%12.1%-5.3%-1.5M23.8M-239.2K1.5061.755317974,8495,491
2020-04-08$214.66$210.0045.5%13.1%87.2%47.5%57.9%8.1%-2.4%-439.8K3.5M-292.5K9.3954.561631,5305,1516,180
2020-04-09$218.94$210.0048.3%13.9%80.8%51.7%57.5%11.2%-5.9%-304.5K-2.9M-324.4K0.1469.878,9871,2245,2147,611
2020-04-13$216.96$210.0047.3%13.6%79.2%50.1%53.6%10.5%-3.2%2.5M-47.5M-555.2K5.7953.655733012,5388,730
2020-04-14$220.47$210.0042.6%12.2%72.5%43.1%43.0%9.6%-3.0%3.6M-57.6M-545.9K0.3560.1447716612,7408,993
2020-04-15$214.07$210.0047.7%13.7%67.0%50.8%48.5%11.9%-4.8%2.3M-34.2M-511.2K3.6859.9612546012,6129,008
2020-04-16$213.11$210.0046.4%13.3%64.1%48.7%61.7%11.2%-4.0%2.1M-30.7M-508.8K22.3568.73952,12312,6359,382
2020-04-17$220.79$210.0042.5%12.2%64.8%43.0%40.6%11.5%-2.9%5.9M-57.6M-546.5K0.7873.0458645812,61111,361
2020-04-20$214.84$210.0047.1%13.5%62.3%49.9%45.8%9.6%-6.5%2.6M-24.8M-529.9K0.7275.98856111,4519,348
2020-04-21$207.55$210.0049.7%14.2%61.2%53.7%50.5%9.2%-4.8%1.4M-7.4M-513.9K0.3642.891525511,5289,394
2020-04-22$214.62$210.0045.9%13.1%52.3%48.0%44.7%8.0%-3.2%2.5M-27.7M-523.2K0.6041.701398411,5739,413
2020-04-23$212.49$210.0043.5%12.5%52.3%44.5%42.9%7.7%-1.4%2.3M-20.2M-493.5K1.0546.1014415111,6979,471
2020-04-24$217.06$210.0034.9%10.0%52.4%31.8%41.2%6.6%1.7%3.2M-33.1M-502.6K1.1549.8839345211,7339,567
2020-04-27$221.42$210.0033.6%9.6%52.5%29.8%36.1%7.4%0.8%4.5M-48.7M-495.0K3.2447.6410233011,94610,081
2020-04-28$222.88$210.0035.6%10.2%50.2%32.9%36.3%7.8%-0.6%4.5M-50.4M-504.8K1.4643.7023734711,98310,242
2020-04-29$231.27$210.0033.6%9.6%50.0%29.8%31.9%8.3%-0.3%6.2M-87.4M-551.8K1.4347.7138154512,14410,538
2020-04-30$225.74$210.0036.3%10.4%47.3%33.8%35.8%9.1%-0.7%4.7M-62.0M-563.4K0.0635.931,1096612,34510,907