APPF Options History — February 2020

In February 2020, APPF traded between $119.83 and $144.96. ATM implied volatility averaged 43.7%, placing in the 42.2% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded above realized volatility by 15.5% (HV 20d: 28.2%). Max pain ranged from $120.00 to $140.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 1.09.

Notable Days

2020-02-21: Highest Volume — 129 contracts
2020-02-12: Largest IV spike — 31.5% change
2020-02-28: Highest IV Rank — 100.0%
2020-02-28: Largest Expected Move — 21.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$134.10	$119.83	$144.96	$132.47	$120.25
Max Pain	$134.21	$120.00	$140.00	$120.00	$135.00
ATM IV	43.7%	29.0%	75.0%	32.0%	75.0%
Expected Move	13.2%	8.3%	21.5%	9.2%	21.5%
HV 20d	28.2%	15.7%	41.3%	15.7%	39.7%
HV 60d	24.7%	21.8%	28.4%	21.8%	28.4%
IV Rank	42.2%	4.6%	100.0%	12.4%	100.0%
IV Percentile	58.5%	4.0%	100.0%	17.5%	100.0%
Term Structure	-4.1%	-16.2%	8.8%	8.0%	-16.2%
VWIV	45.4%	29.0%	71.7%	29.9%	71.7%
Skew 25d	5.8%	2.1%	14.1%	2.2%	14.1%
Skew 10d	10.0%	0.6%	34.1%	2.0%	34.1%
Call IV 25d	42.5%	28.5%	64.1%	30.2%	64.1%
Put IV 25d	48.3%	31.2%	78.2%	32.4%	78.2%
Bid-Ask Spread %	63.07	53.47	81.91	76.34	68.16
Gamma HHI	0.18	0.12	0.30	0.19	0.12
Net GEX	180.7K	87.5K	252.2K	202.0K	87.5K
Net DEX	-9.4M	-13.7M	-3.9M	-9.0M	-4.0M
Net VEX	-23.9K	-25.5K	-21.3K	-24.0K	-24.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.09	0.00	5.25	0.57	1.87
Total Volume	57.421	8	129	74	43
Total OI	1,591.421	1,419	1,821	1,497	1,462

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
2020-02-03	$132.47	$120.00	32.0%	9.2%	15.7%	12.4%	29.9%	2.2%	8.0%	202.0K	-9.0M	-24.0K	0.57	76.34	47	27	1,051	446
2020-02-04	$137.60	$120.00	29.6%	8.5%	18.7%	6.1%	31.0%	3.7%	8.0%	173.4K	-10.0M	-25.5K	0.40	81.91	57	23	1,076	430
2020-02-05	$133.68	$125.00	29.0%	8.3%	23.1%	4.6%	29.0%	2.2%	8.8%	200.6K	-9.8M	-24.0K	0.67	79.64	12	8	1,101	446
2020-02-06	$137.44	$135.00	29.6%	11.7%	24.2%	6.3%	38.4%	4.9%	-3.3%	178.4K	-10.8M	-23.5K	1.16	54.65	25	29	1,099	450
2020-02-07	$137.07	$135.00	30.1%	11.4%	23.5%	7.6%	36.9%	4.8%	-3.0%	183.5K	-10.8M	-23.1K	0.19	56.66	31	6	1,111	454
2020-02-10	$136.74	$135.00	31.9%	12.4%	23.6%	12.3%	40.0%	5.0%	-4.1%	208.6K	-10.7M	-23.2K	0.06	53.47	90	5	1,139	456
2020-02-11	$137.95	$140.00	32.9%	12.2%	23.6%	14.8%	43.1%	4.3%	-5.3%	228.7K	-11.3M	-24.4K	0.00	53.84	8	0	1,219	460
2020-02-12	$136.87	$140.00	43.2%	12.4%	24.2%	42.2%	41.7%	3.4%	-3.7%	233.3K	-10.9M	-24.8K	5.25	59.50	4	21	1,219	461
2020-02-13	$137.76	$140.00	43.3%	12.4%	24.1%	42.6%	40.7%	5.0%	-6.0%	224.4K	-11.2M	-25.0K	0.07	56.20	44	3	1,222	481
2020-02-14	$139.35	$135.00	42.9%	12.3%	24.0%	41.3%	44.0%	5.0%	-3.8%	222.6K	-11.8M	-24.0K	0.14	60.83	21	3	1,230	483
2020-02-18	$141.08	$135.00	45.3%	13.0%	24.1%	47.8%	46.0%	2.1%	-6.6%	240.3K	-12.4M	-22.1K	0.29	63.58	65	19	1,230	483
2020-02-19	$144.96	$135.00	44.4%	12.7%	24.9%	45.3%	42.4%	5.4%	-5.7%	244.4K	-13.7M	-21.3K	0.16	58.61	56	9	1,234	495
2020-02-20	$143.07	$140.00	45.4%	13.0%	25.9%	47.9%	45.0%	4.0%	-5.4%	252.2K	-12.8M	-23.4K	1.31	61.06	54	71	1,247	502
2020-02-21	$134.30	$140.00	46.9%	13.4%	35.9%	52.0%	49.4%	4.9%	-6.3%	145.9K	-9.8M	-24.3K	0.77	54.96	73	56	1,249	572
2020-02-24	$128.55	$135.00	53.3%	15.3%	39.4%	68.9%	51.5%	2.4%	-6.0%	104.5K	-6.1M	-24.5K	0.20	58.99	83	17	1,032	387
2020-02-25	$125.29	$135.00	56.3%	16.1%	40.5%	77.0%	55.5%	11.9%	-10.0%	106.4K	-5.3M	-24.6K	1.83	66.16	6	11	1,049	388
2020-02-26	$123.56	$135.00	57.3%	16.4%	40.3%	79.5%	56.5%	13.7%	-9.5%	100.7K	-4.7M	-24.1K	1.67	66.49	9	15	1,049	388
2020-02-27	$119.83	$135.00	62.1%	17.8%	41.3%	92.3%	69.0%	11.8%	-8.1%	95.0K	-3.9M	-23.2K	4.00	67.25	8	32	1,052	384
2020-02-28	$120.25	$135.00	75.0%	21.5%	39.7%	100.0%	71.7%	14.1%	-16.2%	87.5K	-4.0M	-24.5K	1.87	68.16	15	28	1,054	408