APD Options History — February 2023

In February 2023, APD traded between $277.78 and $319.53. ATM implied volatility averaged 22.8%, placing in the 11.6% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded below realized volatility by 10.4% (HV 20d: 33.2%). Max pain ranged from $290.00 to $310.00. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 0.92.

Notable Days

2023-02-03: Highest Volume — 3,459 contracts
2023-02-02: Largest IV drop — 19.6% change
2023-02-01: Highest IV Rank — 42.5%
2023-02-01: Largest Expected Move — 8.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$285.87	$277.78	$319.53	$319.53	$285.91
Max Pain	$292.63	$290.00	$310.00	$310.00	$290.00
ATM IV	22.8%	20.9%	28.7%	28.7%	21.6%
Expected Move	6.4%	6.0%	8.2%	8.2%	6.2%
HV 20d	33.2%	17.2%	35.7%	17.2%	33.9%
HV 60d	26.3%	22.9%	28.1%	22.9%	24.7%
IV Rank	11.6%	1.6%	42.5%	42.5%	5.0%
IV Percentile	12.7%	0.8%	61.1%	61.1%	3.6%
Term Structure	0.8%	-5.1%	2.7%	-5.1%	0.1%
VWIV	22.8%	20.7%	31.3%	31.3%	22.4%
Skew 25d	3.7%	2.3%	5.0%	5.0%	3.0%
Skew 10d	7.2%	3.2%	10.1%	8.0%	5.8%
Call IV 25d	21.2%	20.0%	27.0%	27.0%	21.5%
Put IV 25d	24.9%	22.8%	32.0%	32.0%	24.5%
Bid-Ask Spread %	77.75	49.89	87.02	86.93	80.66
Gamma HHI	0.17	0.11	0.33	0.23	0.12
Net GEX	-2.7M	-7.0M	6.3M	6.3M	-1.7M
Net DEX	21.7M	-125.7M	57.3M	-125.7M	-3.0M
Net VEX	-813.9K	-925.5K	-760.2K	-925.5K	-859.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.92	0.24	1.79	0.91	0.72
Total Volume	895.421	309	3,459	1,183	531
Total OI	21,800.105	20,405	22,627	21,512	21,877

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
2023-02-01	$319.53	$310.00	28.7%	8.2%	17.2%	42.5%	31.3%	5.0%	-5.1%	6.3M	-125.7M	-925.5K	0.91	86.93	618	565	11,453	10,059
2023-02-02	$295.52	$300.00	23.1%	6.0%	33.2%	13.0%	22.4%	4.0%	2.1%	-1.4M	2.5M	-848.2K	0.81	71.54	760	613	11,825	10,564
2023-02-03	$284.31	$300.00	23.5%	6.6%	35.7%	15.2%	21.5%	3.0%	1.7%	-3.5M	46.5M	-824.7K	0.26	73.87	2,735	724	11,952	10,675
2023-02-06	$282.31	$300.00	25.5%	6.6%	34.0%	25.8%	24.0%	4.6%	1.5%	-3.5M	54.9M	-799.1K	1.72	78.60	309	533	10,501	10,714
2023-02-07	$284.85	$290.00	25.5%	6.4%	34.3%	25.8%	21.8%	3.6%	1.9%	-3.7M	41.1M	-806.1K	1.10	84.77	205	225	10,550	10,841
2023-02-08	$287.77	$290.00	21.0%	6.0%	34.7%	2.1%	21.3%	3.8%	2.3%	-3.5M	24.8M	-805.5K	0.76	78.39	1,013	769	10,616	10,908
2023-02-09	$287.68	$290.00	22.3%	6.4%	34.6%	8.6%	22.7%	2.8%	1.5%	-2.9M	17.9M	-820.2K	1.79	82.77	112	200	11,072	10,794
2023-02-10	$288.93	$290.00	20.9%	6.0%	34.7%	1.6%	20.7%	3.8%	2.3%	-3.2M	14.2M	-836.7K	0.63	77.22	363	229	11,083	10,905
2023-02-13	$286.56	$290.00	22.1%	6.3%	34.6%	7.8%	24.1%	3.3%	1.6%	-3.5M	20.9M	-810.7K	1.13	81.28	145	164	11,289	11,031
2023-02-14	$281.50	$290.00	22.1%	6.3%	34.7%	8.0%	22.9%	3.5%	1.4%	-3.9M	53.1M	-767.1K	1.13	77.00	530	598	11,300	11,110
2023-02-15	$282.94	$290.00	21.9%	6.3%	34.7%	6.6%	21.0%	3.5%	2.7%	-3.8M	41.4M	-799.5K	0.24	53.18	851	205	11,336	11,064
2023-02-16	$281.35	$290.00	22.1%	6.3%	34.7%	7.8%	21.6%	2.8%	0.6%	-3.8M	42.2M	-825.3K	1.53	49.89	134	205	11,452	11,098
2023-02-17	$279.31	$290.00	21.4%	6.1%	34.3%	4.0%	21.0%	2.3%	1.2%	-7.0M	57.3M	-763.7K	1.27	82.75	372	472	11,493	11,105
2023-02-21	$277.81	$290.00	22.3%	6.4%	33.7%	9.0%	22.5%	3.9%	-0.1%	-2.3M	37.5M	-760.2K	1.12	79.18	395	444	10,420	9,985
2023-02-22	$277.78	$290.00	23.0%	6.6%	32.9%	12.4%	23.6%	4.6%	-1.1%	-2.5M	35.1M	-781.2K	0.96	81.68	296	284	10,636	10,183
2023-02-23	$280.43	$290.00	21.9%	6.3%	33.3%	6.5%	21.8%	4.7%	0.3%	-2.7M	31.9M	-762.7K	0.26	84.37	406	105	10,819	10,347
2023-02-24	$281.02	$290.00	22.7%	6.5%	32.8%	11.0%	23.4%	4.0%	-0.2%	-2.1M	20.5M	-839.6K	0.74	87.02	303	225	10,972	10,410
2023-02-27	$286.11	$290.00	22.1%	6.3%	33.9%	8.0%	23.9%	4.1%	-0.4%	-1.7M	-749.3K	-828.6K	0.35	86.20	278	97	11,141	10,622
2023-02-28	$285.91	$290.00	21.6%	6.2%	33.9%	5.0%	22.4%	3.0%	0.1%	-1.7M	-3.0M	-859.3K	0.72	80.66	309	222	11,228	10,649