APD Options History — February 2026

In February 2026, APD traded between $271.55 and $293.24. ATM implied volatility averaged 26.3%, placing in the 13.0% IV rank vs the trailing year. The 30-day expected move averaged 7.5%. IV traded below realized volatility by 7.0% (HV 20d: 33.3%). Max pain ranged from $260.00 to $270.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 1.02.

Notable Days

2026-02-20: Highest Volume — 2,942 contracts
2026-02-03: Largest IV spike — 9.6% change
2026-02-05: Highest IV Rank — 16.3%
2026-02-17: Largest Expected Move — 8.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$282.57	$271.55	$293.24	$271.55	$276.20
Max Pain	$268.42	$260.00	$270.00	$260.00	$270.00
ATM IV	26.3%	23.7%	28.4%	25.2%	25.7%
Expected Move	7.5%	6.9%	8.0%	7.2%	7.4%
HV 20d	33.3%	30.9%	36.9%	30.9%	33.7%
HV 60d	33.7%	32.5%	38.2%	38.2%	33.6%
IV Rank	13.0%	9.1%	16.3%	11.4%	12.1%
IV Percentile	59.5%	38.5%	72.2%	53.2%	54.8%
Term Structure	0.2%	-1.6%	1.8%	-0.2%	0.2%
VWIV	26.6%	24.6%	29.0%	26.3%	26.0%
Skew 25d	3.5%	1.6%	4.8%	1.6%	3.8%
Skew 10d	7.3%	3.9%	12.6%	4.5%	9.5%
Call IV 25d	24.7%	22.2%	27.5%	25.2%	25.0%
Put IV 25d	28.2%	26.4%	30.6%	26.9%	28.9%
Bid-Ask Spread %	83.01	76.44	86.77	76.44	85.26
Gamma HHI	0.19	0.18	0.22	0.22	0.19
Net GEX	7.9M	5.5M	10.2M	6.8M	5.5M
Net DEX	-146.1M	-218.5M	-86.0M	-92.0M	-86.0M
Net VEX	-780.7K	-851.5K	-726.5K	-837.7K	-753.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.02	0.17	4.43	4.43	0.38
Total Volume	590.105	159	2,942	880	159
Total OI	23,944.737	22,791	25,448	22,801	23,449

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
2026-02-02	$271.55	$260.00	25.2%	7.2%	30.9%	11.4%	26.3%	1.6%	-0.2%	6.8M	-92.0M	-837.7K	4.43	76.44	162	718	12,972	9,829
2026-02-03	$276.89	$260.00	27.6%	7.9%	31.2%	15.1%	28.0%	3.1%	-0.8%	7.1M	-117.7M	-851.5K	0.27	86.77	380	103	12,960	10,304
2026-02-04	$286.03	$260.00	26.9%	7.7%	32.2%	14.0%	28.1%	3.8%	-0.7%	8.1M	-168.7M	-833.6K	0.41	82.74	538	219	12,962	10,311
2026-02-05	$284.20	$270.00	28.4%	7.5%	32.4%	16.3%	26.5%	3.1%	1.4%	8.1M	-160.7M	-833.4K	0.87	84.19	175	152	13,073	10,371
2026-02-06	$283.48	$270.00	26.6%	7.5%	32.4%	13.5%	26.1%	2.4%	0.7%	8.4M	-156.6M	-823.3K	1.39	80.02	376	522	13,117	10,460
2026-02-09	$286.35	$270.00	25.1%	6.9%	32.2%	11.2%	26.0%	3.0%	1.8%	8.7M	-172.8M	-799.8K	0.63	82.49	123	78	13,255	10,825
2026-02-10	$290.94	$270.00	23.7%	7.0%	32.5%	9.1%	25.1%	3.5%	1.2%	8.9M	-202.6M	-769.0K	1.15	84.26	254	291	13,301	10,847
2026-02-11	$293.12	$270.00	24.9%	7.1%	32.3%	10.9%	24.6%	1.9%	0.7%	8.9M	-218.0M	-746.2K	0.38	81.95	323	124	13,369	11,015
2026-02-12	$293.24	$270.00	25.9%	7.4%	32.4%	12.4%	26.9%	4.8%	0.4%	8.9M	-218.5M	-758.4K	0.83	82.69	136	113	13,555	11,095
2026-02-13	$280.04	$270.00	27.4%	7.8%	36.9%	14.7%	26.6%	4.2%	-0.3%	8.0M	-134.3M	-806.7K	0.96	83.74	200	192	13,572	11,168
2026-02-17	$278.77	$270.00	27.9%	8.0%	36.9%	15.4%	27.2%	2.7%	-0.2%	8.0M	-123.0M	-774.5K	0.17	83.84	642	109	13,599	11,197
2026-02-18	$282.13	$270.00	26.7%	7.6%	34.4%	13.6%	29.0%	3.9%	0.9%	9.3M	-152.8M	-743.7K	1.98	84.84	258	510	13,808	11,243
2026-02-19	$281.33	$270.00	27.2%	7.8%	33.9%	14.5%	27.9%	4.8%	-1.6%	8.9M	-142.9M	-766.8K	0.53	84.22	135	71	13,939	11,484
2026-02-20	$281.86	$270.00	25.8%	7.4%	33.9%	12.3%	25.5%	4.6%	-0.4%	10.2M	-157.5M	-726.5K	0.35	86.69	2,178	764	13,963	11,485
2026-02-23	$283.52	$270.00	26.5%	7.6%	33.7%	13.3%	27.1%	4.3%	0.4%	6.7M	-133.2M	-751.4K	0.83	81.49	162	134	12,246	10,545
2026-02-24	$280.00	$270.00	26.8%	7.7%	34.1%	13.8%	26.7%	4.4%	-0.4%	6.5M	-116.4M	-754.2K	2.09	86.32	176	367	12,303	10,633
2026-02-25	$282.00	$270.00	25.7%	7.4%	33.5%	12.1%	26.1%	2.7%	0.6%	6.5M	-124.9M	-752.4K	0.39	79.07	137	53	12,387	10,924
2026-02-26	$277.21	$270.00	25.5%	7.3%	33.6%	11.8%	25.6%	3.9%	-0.3%	6.0M	-97.1M	-751.1K	1.34	80.21	76	102	12,444	10,940
2026-02-27	$276.20	$270.00	25.7%	7.4%	33.7%	12.1%	26.0%	3.8%	0.2%	5.5M	-86.0M	-753.0K	0.38	85.26	115	44	12,473	10,976