APPF Options History — September 2023

In September 2023, APPF traded between $173.88 and $196.17. ATM implied volatility averaged 33.3%, placing in the 10.4% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded below realized volatility by 4.8% (HV 20d: 38.1%). Max pain ranged from $165.00 to $175.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 1.63.

Notable Days

2023-09-15: Highest Volume — 111 contracts
2023-09-11: Largest IV spike — 39.5% change
2023-09-11: Highest IV Rank — 26.1%
2023-09-26: Largest Expected Move — 10.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$184.39	$173.88	$196.17	$193.58	$182.53
Max Pain	$170.75	$165.00	$175.00	$165.00	$170.00
ATM IV	33.3%	28.9%	40.3%	32.9%	33.7%
Expected Move	9.5%	8.6%	10.7%	9.4%	9.7%
HV 20d	38.1%	24.7%	46.9%	44.8%	28.5%
HV 60d	36.2%	35.2%	38.1%	38.1%	37.1%
IV Rank	10.4%	0.4%	26.1%	9.5%	11.3%
IV Percentile	15.2%	0.4%	48.0%	10.3%	18.3%
Term Structure	4.2%	-1.6%	8.2%	-1.6%	6.2%
VWIV	33.4%	28.6%	38.6%	30.4%	33.1%
Skew 25d	3.3%	-3.3%	7.4%	3.3%	5.0%
Skew 10d	7.3%	-11.5%	19.6%	19.6%	3.2%
Call IV 25d	32.4%	28.8%	36.0%	28.8%	32.1%
Put IV 25d	35.6%	30.3%	42.1%	32.1%	37.1%
Bid-Ask Spread %	77.86	72.36	91.00	91.00	83.05
Gamma HHI	0.16	0.13	0.17	0.15	0.17
Net GEX	134.9K	38.6K	235.6K	217.3K	173.1K
Net DEX	-6.9M	-11.1M	-3.5M	-10.3M	-6.6M
Net VEX	-30.3K	-34.5K	-26.2K	-34.3K	-28.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.63	0.00	9.00	1.47	0.00
Total Volume	41.55	4	111	47	5
Total OI	1,880.2	1,503	2,268	2,083	1,678

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
2023-09-01	$193.58	$165.00	32.9%	9.4%	44.8%	9.5%	30.4%	3.3%	-1.6%	217.3K	-10.3M	-34.3K	1.47	91.00	19	28	1,617	466
2023-09-05	$196.17	$170.00	31.5%	9.2%	44.6%	6.4%	35.3%	5.8%	2.3%	233.0K	-11.1M	-33.9K	1.75	74.94	8	14	1,621	486
2023-09-06	$194.71	$170.00	35.3%	9.4%	44.5%	15.0%	36.8%	4.4%	5.2%	214.1K	-10.5M	-34.0K	2.50	72.36	12	30	1,622	504
2023-09-07	$194.58	$170.00	31.8%	9.4%	44.2%	7.1%	33.9%	1.1%	2.4%	215.3K	-10.7M	-33.0K	0.04	75.31	25	1	1,627	534
2023-09-08	$193.15	$170.00	28.9%	9.7%	44.3%	0.4%	38.6%	4.9%	1.0%	235.6K	-10.2M	-34.5K	0.41	73.60	29	12	1,649	533
2023-09-11	$190.07	$170.00	40.3%	9.8%	44.9%	26.1%	34.9%	0.9%	1.7%	231.4K	-9.1M	-32.4K	5.78	74.23	9	52	1,674	541
2023-09-12	$186.82	$175.00	35.4%	9.4%	45.0%	15.2%	0.0%	1.9%	2.7%	197.0K	-7.6M	-32.2K	9.00	75.52	1	9	1,671	590
2023-09-13	$179.80	$175.00	31.5%	9.0%	46.7%	6.5%	32.8%	3.5%	4.4%	127.8K	-5.1M	-32.5K	0.64	72.62	53	34	1,669	582
2023-09-14	$181.99	$175.00	32.9%	9.4%	46.5%	9.4%	31.3%	2.3%	4.8%	156.1K	-5.7M	-30.0K	0.22	75.49	79	17	1,687	581
2023-09-15	$179.34	$175.00	29.9%	8.6%	46.9%	2.7%	28.6%	5.3%	6.8%	86.3K	-4.7M	-28.9K	0.00	77.82	111	0	1,678	582
2023-09-18	$180.28	$170.00	30.3%	8.7%	46.8%	3.6%	32.4%	2.2%	7.0%	74.2K	-5.4M	-29.1K	2.00	77.85	7	14	1,038	465
2023-09-19	$179.97	$170.00	32.3%	9.3%	29.0%	8.2%	31.7%	-3.3%	5.4%	66.3K	-5.4M	-28.5K	1.20	77.07	5	6	1,045	477
2023-09-20	$183.59	$170.00	32.4%	9.3%	29.8%	8.3%	32.8%	3.0%	4.0%	92.9K	-6.3M	-29.4K	0.07	78.22	14	1	1,046	483
2023-09-21	$178.05	$170.00	33.8%	9.7%	31.7%	11.6%	33.5%	5.6%	2.9%	56.0K	-4.7M	-28.0K	2.00	79.65	26	52	1,043	483
2023-09-22	$179.25	$170.00	31.7%	9.1%	31.3%	6.8%	31.5%	3.6%	8.2%	62.9K	-4.9M	-28.5K	0.33	79.77	3	1	1,057	532
2023-09-25	$179.64	$170.00	34.9%	10.0%	30.9%	14.0%	36.4%	1.0%	4.5%	63.6K	-5.2M	-27.7K	3.00	76.90	2	6	1,057	533
2023-09-26	$173.88	$170.00	37.4%	10.7%	24.7%	19.5%	29.6%	4.3%	3.1%	38.6K	-3.5M	-26.2K	0.81	82.44	16	13	1,058	539
2023-09-27	$179.44	$170.00	34.2%	9.8%	28.0%	12.4%	36.2%	3.4%	6.4%	79.8K	-5.4M	-27.5K	1.33	74.97	3	4	1,059	518
2023-09-28	$180.87	$170.00	34.7%	9.9%	28.3%	13.5%	34.5%	7.4%	6.4%	76.2K	-5.5M	-26.9K	0.01	84.47	109	1	1,060	519
2023-09-29	$182.53	$170.00	33.7%	9.7%	28.5%	11.3%	33.1%	5.0%	6.2%	173.1K	-6.6M	-28.5K	0.00	83.05	5	0	1,159	519