APPF Options History — May 2020

In May 2020, APPF traded between $104.94 and $158.41. ATM implied volatility averaged 56.5%, placing in the 31.7% IV rank vs the trailing year. The 30-day expected move averaged 15.8%. IV traded below realized volatility by 10.8% (HV 20d: 67.3%). Max pain ranged from $95.00 to $150.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 1.32.

Notable Days

2020-05-26: Highest Volume — 321 contracts
2020-05-05: Largest IV drop — 18.2% change
2020-05-04: Highest IV Rank — 49.8%
2020-05-01: Largest Expected Move — 20.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$129.28	$104.94	$158.41	$107.38	$158.41
Max Pain	$119.25	$95.00	$150.00	$105.00	$150.00
ATM IV	56.5%	47.6%	73.3%	71.0%	48.1%
Expected Move	15.8%	13.6%	20.4%	20.4%	13.8%
HV 20d	67.3%	62.8%	75.2%	69.0%	70.7%
HV 60d	102.2%	98.7%	105.9%	98.8%	105.9%
IV Rank	31.7%	22.0%	49.8%	47.4%	22.6%
IV Percentile	78.5%	65.5%	88.5%	87.7%	65.5%
Term Structure	0.3%	-9.0%	6.6%	-9.0%	6.6%
VWIV	56.8%	46.9%	68.3%	68.3%	46.9%
Skew 25d	9.9%	-3.6%	18.3%	11.6%	4.7%
Skew 10d	22.4%	8.1%	56.8%	56.8%	23.5%
Call IV 25d	51.0%	42.5%	63.5%	63.5%	50.4%
Put IV 25d	60.9%	50.7%	75.2%	75.2%	55.1%
Bid-Ask Spread %	75.92	66.68	91.16	79.04	83.90
Gamma HHI	0.14	0.10	0.20	0.11	0.14
Net GEX	108.2K	56.5K	151.0K	63.4K	122.2K
Net DEX	-5.3M	-10.9M	-1.5M	-1.9M	-10.9M
Net VEX	-20.4K	-29.6K	-12.8K	-13.8K	-29.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.32	0.00	8.20	0.00	0.27
Total Volume	69.55	6	321	6	14
Total OI	1,513.5	1,146	1,834	1,303	1,628

Daily Data (20 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
2020-05-01	$107.38	$105.00	71.0%	20.4%	69.0%	47.4%	68.3%	11.6%	-9.0%	63.4K	-1.9M	-13.8K	0.00	79.04	6	0	723	580
2020-05-04	$104.94	$95.00	73.3%	17.9%	67.7%	49.8%	66.4%	15.2%	-0.6%	56.5K	-1.5M	-12.8K	1.79	70.69	29	52	728	584
2020-05-05	$109.17	$95.00	59.9%	16.3%	67.2%	35.4%	0.0%	11.1%	0.4%	80.5K	-2.1M	-13.4K	2.52	85.26	29	73	766	689
2020-05-06	$118.19	$95.00	54.9%	15.8%	71.1%	29.9%	57.8%	10.8%	2.1%	97.0K	-3.4M	-16.1K	4.63	68.64	38	176	767	754
2020-05-07	$124.35	$105.00	54.4%	15.9%	68.4%	29.4%	61.6%	18.3%	-2.0%	107.4K	-4.5M	-17.8K	0.52	67.33	100	52	775	905
2020-05-08	$125.59	$115.00	51.4%	14.7%	67.0%	26.2%	57.6%	9.3%	1.5%	118.8K	-5.0M	-21.1K	8.20	66.68	5	41	854	925
2020-05-11	$127.47	$115.00	60.2%	15.3%	63.9%	35.7%	0.0%	7.5%	0.9%	122.2K	-5.5M	-20.3K	0.15	71.98	48	7	856	925
2020-05-12	$120.81	$115.00	63.0%	15.0%	65.0%	38.8%	55.1%	7.5%	4.6%	115.6K	-4.2M	-19.9K	0.20	75.93	41	8	892	929
2020-05-13	$118.28	$115.00	55.4%	15.9%	65.1%	30.5%	64.3%	8.8%	0.0%	102.0K	-3.6M	-19.0K	4.43	73.20	7	31	881	935
2020-05-14	$116.51	$115.00	60.2%	17.3%	63.6%	35.7%	56.1%	10.5%	-2.6%	91.3K	-3.2M	-18.9K	0.38	69.83	13	5	885	949
2020-05-15	$123.27	$115.00	57.0%	16.3%	62.8%	32.2%	58.9%	11.4%	-0.0%	90.5K	-4.6M	-19.9K	1.07	70.76	15	16	883	949
2020-05-18	$133.11	$125.00	52.5%	15.0%	66.4%	27.3%	55.3%	10.8%	2.3%	111.4K	-5.0M	-20.0K	0.55	71.38	40	22	746	400
2020-05-19	$129.49	$125.00	54.8%	15.7%	64.6%	29.9%	59.4%	11.4%	-0.6%	109.6K	-4.5M	-20.4K	0.00	76.82	12	0	776	419
2020-05-20	$133.95	$125.00	54.2%	15.5%	65.0%	29.2%	50.6%	11.6%	-1.0%	117.6K	-5.2M	-21.2K	0.04	72.91	56	2	783	419
2020-05-21	$136.95	$125.00	55.3%	15.9%	65.0%	30.4%	0.0%	17.5%	0.2%	132.4K	-6.0M	-22.3K	0.23	72.69	26	6	834	419
2020-05-22	$139.18	$125.00	47.6%	13.6%	64.9%	22.0%	53.4%	11.1%	1.2%	144.2K	-6.5M	-22.5K	0.23	82.58	13	3	849	424
2020-05-26	$156.15	$125.00	54.1%	15.5%	72.7%	29.1%	53.9%	-3.6%	-0.9%	151.0K	-9.7M	-20.2K	0.87	91.16	172	149	852	430
2020-05-27	$148.78	$150.00	51.8%	14.8%	75.2%	26.6%	50.9%	4.7%	0.3%	116.7K	-8.2M	-29.6K	0.29	84.93	31	9	995	570
2020-05-28	$153.65	$150.00	50.7%	14.5%	71.2%	25.4%	49.7%	8.0%	3.4%	113.0K	-9.6M	-29.3K	0.07	82.64	41	3	1,015	577
2020-05-29	$158.41	$150.00	48.1%	13.8%	70.7%	22.6%	46.9%	4.7%	6.6%	122.2K	-10.9M	-29.6K	0.27	83.90	11	3	1,051	577