APD Options History — February 2025

In February 2025, APD traded between $307.69 and $337.62. ATM implied volatility averaged 23.4%, placing in the 20.8% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded below realized volatility by 2.4% (HV 20d: 25.8%). Max pain ranged from $310.00 to $310.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.72.

Notable Days

2025-02-18: Highest Volume — 3,802 contracts
2025-02-06: Largest IV drop — 39.9% change
2025-02-04: Highest IV Rank — 52.8%
2025-02-04: Largest Expected Move — 9.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$317.29	$307.69	$337.62	$337.62	$313.76
Max Pain	$310.00	$310.00	$310.00	$310.00	$310.00
ATM IV	23.4%	19.4%	34.7%	32.9%	22.9%
Expected Move	6.7%	5.6%	9.9%	9.4%	6.5%
HV 20d	25.8%	17.8%	30.9%	18.2%	25.8%
HV 60d	21.4%	18.5%	22.6%	18.5%	22.2%
IV Rank	20.8%	9.6%	52.8%	47.8%	19.4%
IV Percentile	59.7%	36.1%	88.1%	85.3%	64.3%
Term Structure	-0.7%	-7.3%	2.6%	-6.2%	-0.5%
VWIV	23.4%	19.5%	34.9%	34.0%	22.1%
Skew 25d	2.2%	0.3%	3.3%	2.7%	2.8%
Skew 10d	5.6%	2.3%	8.5%	5.3%	5.5%
Call IV 25d	22.5%	18.7%	33.9%	32.1%	21.4%
Put IV 25d	24.7%	20.8%	36.2%	34.8%	24.2%
Bid-Ask Spread %	81.10	70.07	89.01	72.00	83.18
Gamma HHI	0.29	0.24	0.36	0.30	0.28
Net GEX	14.4M	7.7M	27.4M	15.6M	13.7M
Net DEX	-144.1M	-328.3M	-50.2M	-327.8M	-109.4M
Net VEX	-934.5K	-1.1M	-816.4K	-1.1M	-932.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.72	0.03	1.62	0.88	0.82
Total Volume	955.158	204	3,802	950	204
Total OI	30,053.579	27,118	35,474	27,118	30,039

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
2025-02-03	$337.62	$310.00	32.9%	9.4%	18.2%	47.8%	34.0%	2.7%	-6.2%	15.6M	-327.8M	-1.1M	0.88	72.00	504	446	18,472	8,646
2025-02-04	$337.09	$310.00	34.7%	9.9%	17.8%	52.8%	34.9%	2.3%	-7.3%	15.5M	-328.3M	-1.1M	0.90	70.07	310	278	18,901	8,841
2025-02-05	$333.33	$310.00	33.5%	9.6%	18.9%	49.5%	32.5%	2.0%	-6.1%	15.7M	-293.8M	-1.1M	0.45	74.55	1,410	629	19,001	8,875
2025-02-06	$328.69	$310.00	20.2%	5.6%	20.4%	11.8%	19.9%	2.8%	1.2%	21.2M	-254.3M	-1.0M	1.09	77.77	244	265	19,991	9,331
2025-02-07	$310.03	$310.00	21.1%	6.3%	30.9%	14.4%	23.0%	3.0%	0.2%	9.3M	-68.7M	-858.3K	1.62	79.90	490	796	19,921	9,441
2025-02-10	$307.69	$310.00	21.6%	6.2%	30.2%	15.8%	21.3%	2.4%	0.0%	7.7M	-50.2M	-816.4K	0.42	80.88	317	133	20,096	9,704
2025-02-11	$309.48	$310.00	20.9%	6.1%	29.1%	13.9%	21.3%	1.9%	0.5%	9.2M	-72.7M	-864.2K	0.55	81.94	602	332	20,160	9,709
2025-02-12	$309.30	$310.00	21.0%	6.0%	27.8%	14.3%	22.3%	1.9%	0.8%	8.9M	-69.8M	-816.6K	1.53	82.64	367	563	20,263	9,562
2025-02-13	$315.29	$310.00	21.4%	6.1%	28.6%	15.3%	21.9%	1.5%	1.0%	14.2M	-131.8M	-906.5K	0.31	83.69	449	140	20,406	9,527
2025-02-14	$316.67	$310.00	20.2%	5.8%	27.9%	12.0%	21.0%	2.0%	1.0%	15.2M	-132.1M	-892.6K	1.33	82.71	132	175	20,553	9,598
2025-02-18	$316.57	$310.00	21.2%	6.1%	27.4%	14.6%	21.9%	2.2%	0.6%	15.1M	-128.4M	-850.1K	0.03	82.04	3,686	116	20,595	9,702
2025-02-19	$316.28	$310.00	20.5%	5.9%	27.2%	12.8%	21.0%	2.2%	0.9%	16.2M	-146.7M	-999.7K	0.49	82.99	415	203	23,393	9,775
2025-02-20	$313.94	$310.00	21.3%	6.1%	27.1%	15.0%	21.2%	2.1%	0.9%	14.5M	-123.7M	-965.6K	0.15	82.03	2,294	336	23,440	9,879
2025-02-21	$309.75	$310.00	19.4%	5.6%	26.3%	9.6%	19.5%	1.6%	2.6%	27.4M	-76.8M	-874.7K	1.28	84.76	315	402	25,599	9,875
2025-02-24	$308.95	$310.00	21.6%	6.2%	25.3%	15.9%	21.5%	2.5%	0.7%	10.1M	-74.3M	-864.9K	0.51	81.50	266	135	21,871	7,313
2025-02-25	$316.44	$310.00	21.7%	6.2%	26.9%	16.2%	21.6%	2.4%	0.1%	16.1M	-135.2M	-987.1K	0.33	83.31	452	149	21,987	7,344
2025-02-26	$314.07	$310.00	23.7%	6.8%	27.0%	21.9%	21.9%	3.3%	-1.4%	13.4M	-104.9M	-912.0K	0.11	85.92	259	28	22,169	7,400
2025-02-27	$313.49	$310.00	23.9%	6.9%	27.0%	22.3%	22.5%	0.3%	-1.8%	13.7M	-109.9M	-917.6K	0.89	89.01	162	144	22,224	7,415
2025-02-28	$313.76	$310.00	22.9%	6.5%	25.8%	19.4%	22.1%	2.8%	-0.5%	13.7M	-109.4M	-932.9K	0.82	83.18	112	92	22,294	7,745