APD Options History — May 2020

In May 2020, APD traded between $222.31 and $242.29. ATM implied volatility averaged 33.0%, placing in the 28.9% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded below realized volatility by 3.4% (HV 20d: 36.4%). Max pain ranged from $210.00 to $230.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 2.22.

Notable Days

  • 2020-05-04: Highest Volume — 1,776 contracts
  • 2020-05-07: Largest IV drop — 14.7% change
  • 2020-05-01: Highest IV Rank — 44.9%
  • 2020-05-01: Largest Expected Move — 12.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$232.11$222.31$242.29$222.31$241.79
Max Pain$226.50$210.00$230.00$210.00$230.00
ATM IV33.0%28.0%43.8%43.8%28.3%
Expected Move9.2%8.0%12.5%12.5%8.1%
HV 20d36.4%32.5%47.8%47.8%32.5%
HV 60d62.3%60.7%64.0%62.0%60.7%
IV Rank28.9%21.5%44.9%44.9%22.0%
IV Percentile80.1%73.8%88.9%88.9%73.8%
Term Structure0.4%-3.1%2.1%-3.1%1.4%
VWIV34.1%28.6%50.4%41.2%28.6%
Skew 25d6.1%4.0%8.9%8.2%4.0%
Skew 10d13.0%9.1%18.3%18.3%9.1%
Call IV 25d29.7%26.2%40.5%40.5%26.6%
Put IV 25d35.8%30.6%48.7%48.7%30.6%
Bid-Ask Spread %55.6442.1362.3450.5451.39
Gamma HHI0.510.400.610.450.58
Net GEX8.0M4.8M11.8M4.8M11.8M
Net DEX-91.8M-144.1M-45.0M-57.0M-144.0M
Net VEX-540.5K-576.5K-511.4K-555.9K-519.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.220.1810.170.241.19
Total Volume642.451991,776403447
Total OI24,635.7521,59627,85724,11024,139

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-05-01$222.31$210.0043.8%12.5%47.8%44.9%41.2%8.2%-3.1%4.8M-57.0M-555.9K0.2450.543267713,19910,911
2020-05-04$223.89$220.0042.1%11.4%43.5%42.5%50.4%8.9%-1.8%5.3M-64.1M-529.6K1.9042.136121,16413,05310,915
2020-05-05$224.54$220.0039.3%10.6%42.5%38.2%44.6%7.3%-0.7%5.1M-58.8M-530.1K0.1848.0497017612,68312,049
2020-05-06$224.68$220.0039.5%10.7%38.6%38.6%35.7%7.5%-0.2%5.3M-62.2M-552.9K0.4249.672389913,22612,258
2020-05-07$227.18$220.0033.7%9.6%34.8%30.0%34.1%6.7%1.3%6.5M-76.2M-551.3K1.3652.198611713,35412,307
2020-05-08$232.82$220.0030.8%9.1%35.1%25.7%32.8%6.4%1.8%8.3M-103.9M-554.6K9.2556.807973113,29612,375
2020-05-11$233.15$230.0034.8%8.9%34.9%31.6%30.3%6.4%2.1%9.0M-104.3M-530.3K0.7855.761128713,33512,580
2020-05-12$231.24$230.0037.7%9.2%34.8%35.9%36.3%6.1%1.6%8.1M-93.2M-531.9K10.1756.167172213,32212,595
2020-05-13$223.54$230.0035.3%10.1%35.3%32.3%38.3%6.3%0.3%5.4M-45.0M-511.4K1.5059.7238557713,31913,562
2020-05-14$225.25$230.0032.1%9.2%35.3%27.6%38.5%6.5%1.3%6.1M-51.1M-532.2K1.5960.1828445213,46913,897
2020-05-15$226.51$230.0032.1%9.2%33.2%27.7%32.8%6.0%0.8%5.5M-57.6M-513.9K0.6158.6740424713,55614,301
2020-05-18$241.00$230.0028.8%8.3%37.8%22.7%29.2%5.0%0.8%9.3M-134.2M-529.1K0.9558.5150147512,4509,146
2020-05-19$237.44$230.0028.2%8.1%35.6%21.8%28.9%6.0%1.3%9.4M-110.6M-561.8K0.8259.9427422412,8179,442
2020-05-20$239.87$230.0028.0%8.0%34.2%21.5%29.4%5.4%0.7%10.0M-126.3M-576.5K1.3359.629312412,9739,942
2020-05-21$235.93$230.0028.1%8.1%34.7%21.7%31.3%4.9%0.6%9.3M-101.7M-560.6K4.2562.3415063812,9899,996
2020-05-22$234.77$230.0030.5%8.7%34.3%25.2%30.0%5.9%-0.5%9.0M-89.9M-567.1K1.3261.5014519113,06110,647
2020-05-26$238.78$230.0029.3%8.4%34.1%23.5%30.2%5.1%-0.7%10.3M-120.2M-539.9K5.5457.5015384813,16910,666
2020-05-27$235.17$230.0028.5%8.2%34.8%22.2%31.6%5.2%0.4%9.7M-91.7M-533.1K0.5755.931297313,25310,580
2020-05-28$242.29$230.0029.1%8.4%33.9%23.2%28.8%4.7%1.1%11.1M-144.1M-527.1K0.4256.1925910913,24810,635
2020-05-29$241.79$230.0028.3%8.1%32.5%22.0%28.6%4.0%1.4%11.8M-144.0M-519.9K1.1951.3920424313,44110,698