APD Options History — January 2021

In January 2021, APD traded between $267.02 and $290.46. ATM implied volatility averaged 29.3%, placing in the 20.4% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded above realized volatility by 4.5% (HV 20d: 24.8%). Max pain ranged from $270.00 to $280.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.65.

Notable Days

2021-01-07: Highest Volume — 7,808 contracts
2021-01-11: Largest IV spike — 21.1% change
2021-01-29: Highest IV Rank — 33.2%
2021-01-29: Largest Expected Move — 10.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$281.79	$267.02	$290.46	$269.00	$267.02
Max Pain	$275.26	$270.00	$280.00	$270.00	$280.00
ATM IV	29.3%	25.6%	37.9%	28.8%	37.9%
Expected Move	8.4%	7.8%	10.9%	8.3%	10.9%
HV 20d	24.8%	13.8%	32.9%	13.8%	32.9%
HV 60d	36.4%	34.4%	36.8%	34.4%	36.4%
IV Rank	20.4%	15.5%	33.2%	20.4%	33.2%
IV Percentile	52.1%	29.4%	82.1%	52.4%	82.1%
Term Structure	-0.6%	-3.3%	0.7%	-0.8%	-1.4%
VWIV	29.4%	26.2%	37.7%	30.4%	37.7%
Skew 25d	3.1%	1.8%	5.4%	2.9%	3.7%
Skew 10d	5.7%	2.2%	6.7%	6.4%	4.5%
Call IV 25d	27.9%	25.9%	35.3%	27.9%	35.3%
Put IV 25d	30.9%	29.0%	39.0%	30.8%	39.0%
Bid-Ask Spread %	58.05	44.83	87.31	49.40	84.18
Gamma HHI	0.31	0.13	0.45	0.16	0.25
Net GEX	9.9M	-1.9M	17.2M	-1.9M	4.7M
Net DEX	-87.2M	-173.0M	8.7M	8.7M	-4.5M
Net VEX	-1.2M	-1.4M	-832.5K	-832.5K	-1.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.65	0.03	2.83	1.42	0.30
Total Volume	2,199.474	503	7,808	2,437	1,083
Total OI	31,859.842	23,219	41,717	23,219	34,399

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
2021-01-04	$269.00	$270.00	28.8%	8.3%	13.8%	20.4%	30.4%	2.9%	-0.8%	-1.9M	8.7M	-832.5K	1.42	49.40	1,007	1,430	10,931	12,288
2021-01-05	$282.65	$270.00	28.0%	8.2%	21.5%	19.2%	29.6%	3.1%	-0.7%	3.0M	-53.7M	-932.6K	0.57	45.18	2,140	1,219	11,649	13,189
2021-01-06	$290.46	$270.00	28.0%	8.3%	22.6%	19.2%	29.0%	3.3%	-0.9%	5.4M	-92.8M	-1.0M	0.64	44.83	2,172	1,393	12,336	13,818
2021-01-07	$284.34	$270.00	25.7%	7.9%	24.2%	15.6%	26.2%	3.1%	0.1%	4.0M	-60.5M	-976.2K	0.03	54.39	7,571	237	12,512	13,786
2021-01-08	$284.03	$270.00	25.6%	7.9%	24.2%	15.5%	26.6%	3.0%	0.3%	9.4M	-97.1M	-1.1M	0.13	55.20	1,633	210	18,600	13,707
2021-01-11	$283.21	$270.00	31.0%	8.3%	24.1%	23.8%	29.4%	3.2%	-0.3%	9.3M	-95.1M	-1.1M	0.42	53.07	926	388	18,782	13,798
2021-01-12	$283.55	$270.00	30.5%	8.1%	24.0%	22.9%	27.7%	3.2%	-0.1%	9.4M	-94.1M	-1.1M	0.35	52.50	536	188	18,929	14,038
2021-01-13	$289.61	$270.00	28.0%	8.0%	24.6%	17.8%	26.8%	3.4%	-0.5%	12.3M	-139.1M	-1.2M	0.14	55.42	4,026	547	18,831	13,990
2021-01-14	$287.72	$270.00	27.5%	7.9%	24.6%	17.0%	27.0%	3.2%	0.0%	11.8M	-131.3M	-1.2M	0.10	56.64	6,231	592	21,498	14,262
2021-01-15	$287.63	$280.00	27.4%	7.9%	24.5%	16.9%	29.6%	2.9%	0.3%	17.2M	-173.0M	-1.4M	1.81	54.43	371	671	27,178	14,539
2021-01-19	$285.10	$280.00	27.4%	7.8%	24.8%	16.8%	28.7%	2.8%	0.1%	15.4M	-123.4M	-1.3M	2.83	54.82	291	824	21,635	9,334
2021-01-20	$287.24	$280.00	27.1%	7.8%	24.7%	16.5%	27.1%	2.6%	-0.0%	17.1M	-137.8M	-1.3M	0.28	53.08	518	146	21,770	10,714
2021-01-21	$283.51	$280.00	28.2%	8.1%	24.7%	18.2%	28.0%	2.8%	-0.7%	14.8M	-106.2M	-1.3M	0.86	55.13	526	452	21,989	10,113
2021-01-22	$284.74	$280.00	30.1%	8.6%	24.7%	21.1%	28.7%	3.1%	-3.3%	15.7M	-114.6M	-1.3M	0.75	56.39	287	216	22,217	10,440
2021-01-25	$278.93	$280.00	30.0%	8.6%	26.0%	21.0%	30.0%	2.0%	-1.2%	11.5M	-72.2M	-1.2M	0.34	56.42	1,028	346	22,358	10,537
2021-01-26	$279.57	$280.00	29.7%	8.5%	26.0%	20.4%	29.2%	1.8%	-1.1%	12.6M	-80.3M	-1.2M	0.10	56.26	810	83	22,935	10,761
2021-01-27	$269.42	$280.00	33.5%	9.6%	29.4%	26.3%	33.8%	2.5%	-1.5%	6.0M	-18.0M	-1.1M	0.72	78.24	383	274	22,834	10,808
2021-01-28	$276.19	$280.00	32.7%	9.4%	30.7%	25.1%	32.1%	5.4%	0.7%	10.1M	-72.6M	-1.3M	0.59	87.31	649	386	22,921	10,911
2021-01-29	$267.02	$280.00	37.9%	10.9%	32.9%	33.2%	37.7%	3.7%	-1.4%	4.7M	-4.5M	-1.2M	0.30	84.18	831	252	23,292	11,107