APD Options History — March 2023

In March 2023, APD traded between $267.15 and $294.37. ATM implied volatility averaged 25.1%, placing in the 23.7% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 4.6% (HV 20d: 20.4%). Max pain ranged from $280.00 to $290.00. Net GEX was positive for 6 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 1.03.

Notable Days

  • 2023-03-01: Highest Volume — 1,999 contracts
  • 2023-03-15: Largest IV drop — 31.9% change
  • 2023-03-14: Highest IV Rank — 96.5%
  • 2023-03-17: Largest Expected Move — 8.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$281.23$267.15$294.37$289.20$285.68
Max Pain$287.39$280.00$290.00$290.00$290.00
ATM IV25.1%20.1%38.8%21.5%20.1%
Expected Move6.7%5.8%8.2%6.2%5.8%
HV 20d20.4%13.8%34.0%33.4%24.4%
HV 60d24.6%23.8%26.0%24.7%26.0%
IV Rank23.7%0.0%96.5%4.6%0.0%
IV Percentile31.6%0.0%99.6%3.6%0.0%
Term Structure2.4%-0.3%4.8%-0.3%4.8%
VWIV23.5%17.7%29.2%21.7%22.0%
Skew 25d4.5%3.1%6.8%3.1%5.2%
Skew 10d10.2%3.3%29.4%7.0%8.8%
Call IV 25d21.8%18.2%25.6%20.8%18.2%
Put IV 25d26.4%22.6%31.5%23.9%23.4%
Bid-Ask Spread %83.1867.6692.8680.6492.86
Gamma HHI0.130.090.190.110.10
Net GEX-2.0M-5.3M2.0M-1.2M2.0M
Net DEX14.6M-32.3M77.2M-19.0M-21.9M
Net VEX-788.9K-852.2K-708.4K-828.5K-831.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.030.164.611.570.78
Total Volume597.7391651,9991,999282
Total OI21,29816,47024,76822,08719,137

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$289.20$290.0021.5%6.2%33.4%4.6%21.7%3.1%-0.3%-1.2M-19.0M-828.5K1.5780.647791,22011,29210,795
2023-03-02$292.83$290.0022.2%6.4%34.0%8.1%22.0%3.6%-0.3%-2.8M-24.1M-852.2K0.5683.4047726711,51311,865
2023-03-03$294.37$290.0021.3%6.1%20.0%3.3%20.0%3.7%0.3%-2.6M-32.3M-850.0K0.1785.933015011,61411,994
2023-03-06$293.52$290.0022.4%6.0%13.9%9.1%21.8%3.7%2.7%-2.9M-30.4M-829.9K0.2967.662216411,71812,012
2023-03-07$291.87$290.0022.9%6.1%13.8%11.9%20.7%5.2%2.6%-3.6M-19.2M-847.2K0.5769.3228516211,71912,048
2023-03-08$289.68$290.0023.7%6.2%13.9%16.0%21.8%4.5%2.5%-4.3M-5.5M-847.7K0.1679.875188411,79312,116
2023-03-09$283.97$290.0029.2%7.0%15.3%45.3%23.9%3.9%0.5%-4.5M33.0M-840.9K2.3082.295011512,24312,130
2023-03-10$280.27$290.0029.8%7.2%15.9%48.9%24.1%4.8%1.9%-4.9M50.6M-835.5K0.5979.9242024912,25712,168
2023-03-13$281.28$290.0037.3%7.5%15.9%88.1%25.7%5.3%-0.0%-5.3M52.2M-806.8K4.6182.9910146612,46312,305
2023-03-14$284.12$290.0038.8%7.4%16.1%96.5%25.1%5.0%0.6%-4.7M23.7M-819.3K0.6082.241569412,45612,051
2023-03-15$276.34$290.0026.5%7.6%17.9%31.0%28.4%5.4%0.4%-5.0M74.3M-771.6K1.1984.0331537612,48112,096
2023-03-16$279.51$290.0025.3%7.3%18.3%24.8%24.9%5.0%3.6%-4.9M50.1M-766.1K0.6683.3928919012,62411,891
2023-03-17$274.81$290.0028.7%8.2%19.1%42.6%29.2%6.8%1.7%195.9K77.2M-764.8K2.8182.393811,06912,83111,882
2023-03-20$278.81$290.0024.3%7.0%19.7%19.2%23.2%4.5%3.5%439.3K1.6M-756.7K0.3379.544801589,0937,377
2023-03-21$278.92$290.0023.0%6.6%19.6%12.7%23.3%5.4%3.2%561.3K3.0M-740.5K0.2781.23272749,3977,495
2023-03-22$277.27$280.0023.0%6.6%19.8%12.6%23.7%4.7%3.5%463.2K3.5M-743.9K0.3079.78210639,5277,528
2023-03-23$267.15$280.0023.4%6.7%23.4%14.9%25.6%5.3%3.8%-734.2K30.0M-712.6K2.7690.332887959,6657,566
2023-03-24$267.77$280.0024.4%7.0%23.4%20.1%24.5%5.5%2.5%-1.0M32.6M-708.4K0.4382.06217939,7197,993
2023-03-27$271.39$280.0022.7%6.5%22.9%10.9%23.1%3.9%4.3%-504.4K20.4M-744.9K0.7391.962571889,7788,025
2023-03-28$273.47$280.0023.5%6.8%23.2%15.5%24.3%3.7%4.4%-233.0K19.0M-732.5K0.3988.82209829,9088,059
2023-03-29$276.18$280.0021.0%6.0%23.1%2.1%17.7%3.1%4.2%-115.7K10.0M-728.0K0.9191.6662056510,0058,114
2023-03-30$279.78$290.0022.1%6.3%23.1%7.6%22.7%3.4%3.8%439.4K7.7M-784.6K0.7890.891108610,4168,695
2023-03-31$285.68$290.0020.1%5.8%24.4%0.0%22.0%5.2%4.8%2.0M-21.9M-831.9K0.7892.8615812410,3768,761