APD Options History — March 2024

In March 2024, APD traded between $235.88 and $248.04. ATM implied volatility averaged 19.3%, placing in the 24.4% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded below realized volatility by 6.0% (HV 20d: 25.2%). Max pain ranged from $220.00 to $240.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.97.

Notable Days

  • 2024-03-18: Highest Volume — 2,718 contracts
  • 2024-03-12: Largest IV drop — 25.9% change
  • 2024-03-11: Highest IV Rank — 39.8%
  • 2024-03-06: Largest Expected Move — 5.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$241.76$235.88$248.04$235.88$242.52
Max Pain$237.00$220.00$240.00$220.00$240.00
ATM IV19.3%17.3%23.3%18.4%18.0%
Expected Move5.5%5.0%5.9%5.3%5.2%
HV 20d25.2%17.1%65.6%65.4%19.4%
HV 60d39.6%38.9%40.0%39.3%40.0%
IV Rank24.4%16.3%39.8%20.7%19.8%
IV Percentile37.1%19.4%66.7%28.2%27.0%
Term Structure6.0%1.0%9.7%1.0%9.2%
VWIV19.4%17.7%21.4%18.6%18.0%
Skew 25d1.2%0.3%1.9%0.3%1.5%
Skew 10d2.4%0.8%3.7%2.3%1.1%
Call IV 25d18.9%17.1%19.9%18.9%17.1%
Put IV 25d20.2%18.5%21.5%19.2%18.5%
Bid-Ask Spread %75.5562.7481.5470.8881.54
Gamma HHI0.180.140.240.220.18
Net GEX3.8M107.9K6.7M6.2M3.6M
Net DEX-70.4M-148.5M6.6M-65.8M-47.0M
Net VEX-1.1M-1.2M-954.3K-954.3K-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.970.192.780.542.18
Total Volume1,527.68542,7181,6621,297
Total OI34,677.727,34339,65334,81834,416

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-03-01$235.88$220.0018.4%5.3%65.4%20.7%18.6%0.3%1.0%6.2M-65.8M-954.3K0.5470.881,07858421,76513,053
2024-03-04$238.59$230.0020.3%5.8%65.6%28.0%20.5%1.7%4.3%6.3M-84.6M-965.1K1.1962.7470483521,85113,537
2024-03-05$238.77$230.0020.6%5.8%23.2%29.2%20.4%1.5%4.2%6.0M-84.3M-960.9K0.6771.5394663021,76213,966
2024-03-06$243.66$230.0021.1%5.9%23.8%31.2%21.4%1.7%4.4%6.5M-116.7M-972.3K1.5778.657011,10321,87114,055
2024-03-07$245.52$230.0019.3%5.5%22.3%24.1%19.7%1.9%4.5%6.0M-126.2M-985.3K0.4976.531,00749122,00914,899
2024-03-08$241.76$240.0019.5%5.8%23.2%24.9%19.8%1.5%3.8%5.8M-97.8M-1.0M0.3679.111,51154422,19615,140
2024-03-11$248.04$240.0023.3%5.7%24.2%39.8%20.1%1.7%4.0%6.5M-148.5M-971.4K1.1978.7665878522,66415,355
2024-03-12$245.25$240.0017.3%5.4%24.4%16.3%19.4%1.9%4.3%6.1M-126.2M-986.0K0.2381.011,41933322,85615,702
2024-03-13$247.31$240.0019.2%5.5%21.9%23.8%19.3%1.2%4.6%6.7M-141.7M-1.0M0.4579.4170832123,20715,763
2024-03-14$245.22$240.0019.3%5.5%22.3%24.1%19.5%1.3%4.5%5.1M-123.6M-1.0M0.1980.8572013423,38915,926
2024-03-15$244.88$240.0019.4%5.6%17.2%25.7%19.1%1.3%6.4%2.3M-121.6M-1.0M0.7180.5192265523,61616,037
2024-03-18$246.22$240.0019.0%5.4%17.1%23.8%19.1%1.2%7.0%2.9M-57.0M-1.0M0.9173.231,4211,29714,18813,155
2024-03-19$241.80$240.0019.0%5.4%18.8%24.0%18.8%1.3%6.9%1.8M-29.4M-1.1M0.5376.961,01253715,08313,959
2024-03-20$239.30$240.0019.0%5.4%19.4%23.9%19.2%0.5%7.3%1.2M-12.7M-1.1M1.0766.941,0221,09215,75614,151
2024-03-21$235.99$240.0018.8%5.4%19.7%23.3%19.2%1.4%8.1%348.9K6.6M-1.1M1.0374.8854455816,41214,678
2024-03-22$237.07$240.0018.9%5.4%19.6%23.6%19.2%0.4%8.1%591.3K-2.2M-1.1M2.7872.7823665616,61515,003
2024-03-25$237.46$240.0018.6%5.3%18.9%22.5%19.2%0.8%8.4%328.9K-540.1K-1.1M1.4070.517561,05516,66815,364
2024-03-26$237.59$240.0018.5%5.3%18.4%21.8%18.8%0.9%8.8%107.9K186.0K-1.2M1.7076.1943774317,23616,141
2024-03-27$242.39$240.0017.6%5.0%19.6%18.2%17.7%0.8%9.7%2.2M-29.4M-1.2M0.3078.0484925117,44116,669
2024-03-28$242.52$240.0018.0%5.2%19.4%19.8%18.0%1.5%9.2%3.6M-47.0M-1.2M2.1881.5440888917,67916,737