APD Options History — September 2025

In September 2025, APD traded between $266.38 and $294.17. ATM implied volatility averaged 23.2%, placing in the 9.2% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 4.5% (HV 20d: 18.7%). Max pain ranged from $280.00 to $300.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 0.96.

Notable Days

  • 2025-09-19: Highest Volume — 1,764 contracts
  • 2025-09-23: Largest IV spike — 8.9% change
  • 2025-09-30: Highest IV Rank — 13.6%
  • 2025-09-30: Largest Expected Move — 7.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$284.53$266.38$294.17$292.26$271.94
Max Pain$291.90$280.00$300.00$280.00$290.00
ATM IV23.2%21.5%26.2%22.9%26.2%
Expected Move6.6%6.2%7.5%6.6%7.5%
HV 20d18.7%13.9%24.9%17.3%24.9%
HV 60d18.2%17.0%20.3%17.1%20.2%
IV Rank9.2%6.5%13.6%10.3%13.6%
IV Percentile44.7%25.4%64.3%46.4%64.3%
Term Structure2.4%-0.6%5.2%-0.5%4.1%
VWIV23.1%20.0%27.1%21.6%26.1%
Skew 25d3.8%2.9%5.1%3.9%3.2%
Skew 10d8.4%4.6%15.7%7.9%5.6%
Call IV 25d21.6%18.9%24.8%20.9%24.8%
Put IV 25d25.4%23.1%28.3%24.7%28.0%
Bid-Ask Spread %82.0977.6487.0087.0081.14
Gamma HHI0.230.140.430.430.15
Net GEX8.2M1.6M19.9M19.9M2.5M
Net DEX-40.8M-96.5M14.2M-96.5M-511.1K
Net VEX-687.8K-886.3K-516.1K-886.3K-598.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.073.662.340.48
Total Volume446.81601,764304287
Total OI27,908.52418,05132,57631,89920,303

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$292.26$280.0022.9%6.6%17.3%10.3%21.6%3.9%-0.5%19.9M-96.5M-886.3K2.3487.009121326,2395,660
2025-09-03$291.00$280.0022.7%6.5%16.1%9.9%25.6%4.3%-0.6%17.1M-78.3M-855.3K1.7387.00223826,3075,751
2025-09-04$289.13$300.0022.0%6.2%16.0%8.9%21.2%3.9%2.3%13.9M-64.3M-794.6K1.3379.9312016026,3075,762
2025-09-05$289.54$300.0021.7%6.3%16.0%6.8%22.0%3.5%1.6%12.5M-56.1M-773.3K1.3986.51466426,3255,779
2025-09-08$287.74$300.0022.5%6.4%16.1%7.9%23.0%3.5%1.1%9.7M-47.4M-759.1K3.6677.645620526,3375,810
2025-09-09$286.91$290.0021.7%6.3%15.4%6.8%24.0%4.7%2.1%7.0M-35.5M-676.9K3.3678.969030226,3505,789
2025-09-10$286.34$290.0022.1%6.3%13.9%7.4%23.0%3.3%2.1%6.7M-32.8M-669.5K0.3880.48823126,3305,743
2025-09-11$294.17$290.0022.1%6.3%16.1%7.3%21.3%3.5%2.8%15.0M-76.3M-755.3K0.1582.113224926,3405,751
2025-09-12$293.52$290.0023.6%6.8%15.9%9.6%22.6%5.1%0.3%15.1M-78.1M-758.4K0.7084.0525017526,3515,775
2025-09-15$290.87$300.0023.2%6.6%16.2%9.0%22.2%3.7%0.9%7.1M-55.5M-708.3K0.8282.1816013226,4615,818
2025-09-16$284.63$300.0023.8%6.8%17.7%9.9%20.0%3.4%1.1%4.2M-24.9M-642.9K1.0086.16909026,4695,780
2025-09-17$289.96$300.0022.3%6.4%18.8%7.6%22.1%3.7%2.2%6.6M-53.1M-699.7K0.0782.214833526,4985,771
2025-09-18$292.50$290.0022.4%6.4%18.6%7.8%21.5%3.2%4.1%7.2M-65.5M-689.3K0.1483.212203126,6855,784
2025-09-19$291.10$290.0021.5%6.2%18.6%6.5%21.4%4.2%4.1%9.0M-63.5M-666.1K0.0884.501,63113326,7765,800
2025-09-22$290.04$290.0022.3%6.4%16.9%7.7%22.0%2.9%5.2%6.2M-45.6M-698.3K0.2280.293156813,7604,291
2025-09-23$277.19$290.0024.3%7.0%22.5%10.7%26.0%4.3%2.3%3.4M-7.8M-568.6K0.1978.341,03120013,9924,312
2025-09-24$271.50$290.0025.5%7.3%23.3%12.6%24.6%4.6%3.0%2.5M1.7M-558.4K0.5381.1819910614,7454,468
2025-09-25$266.38$290.0025.0%7.2%23.6%11.7%27.1%3.9%4.8%1.6M14.2M-516.1K0.4181.8283734214,8624,529
2025-09-26$267.33$290.0024.1%6.9%23.8%10.4%24.3%4.2%3.9%1.8M9.1M-564.8K0.3778.3427510115,2574,780
2025-09-29$271.06$290.0025.1%7.2%24.7%11.8%22.5%3.3%4.4%2.4M146.4K-604.9K0.8180.7716613515,3924,840
2025-09-30$271.94$290.0026.2%7.5%24.9%13.6%26.1%3.2%4.1%2.5M-511.1K-598.2K0.4881.141949315,4314,872