APPF Options History — January 2025

In January 2025, APPF traded between $233.23 and $260.07. ATM implied volatility averaged 45.9%, placing in the 59.4% IV rank vs the trailing year. The 30-day expected move averaged 14.0%. IV traded above realized volatility by 17.9% (HV 20d: 27.9%). Max pain ranged from $200.00 to $260.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.56.

Notable Days

2025-01-28: Highest Volume — 1,332 contracts
2025-01-31: Largest IV drop — 42.8% change
2025-01-29: Highest IV Rank — 100.0%
2025-01-30: Largest Expected Move — 18.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$251.14	$233.23	$260.07	$247.79	$233.23
Max Pain	$247.00	$200.00	$260.00	$210.00	$250.00
ATM IV	45.9%	31.1%	64.5%	32.5%	36.9%
Expected Move	14.0%	8.9%	18.5%	9.3%	10.6%
HV 20d	27.9%	24.1%	43.5%	25.1%	43.5%
HV 60d	32.5%	28.9%	37.8%	36.9%	33.7%
IV Rank	59.4%	19.8%	100.0%	23.7%	31.9%
IV Percentile	71.0%	9.9%	100.0%	23.0%	62.3%
Term Structure	-5.7%	-14.4%	12.5%	11.9%	-2.0%
VWIV	48.5%	31.2%	63.5%	33.0%	36.0%
Skew 25d	2.9%	0.4%	8.4%	0.6%	3.3%
Skew 10d	6.7%	0.1%	15.4%	0.3%	13.6%
Call IV 25d	47.2%	23.3%	62.9%	33.0%	36.1%
Put IV 25d	50.1%	31.7%	65.6%	33.7%	39.4%
Bid-Ask Spread %	66.65	47.61	94.43	93.30	72.78
Gamma HHI	0.19	0.09	0.67	0.15	0.67
Net GEX	132.7K	-821.0K	333.5K	258.7K	-821.0K
Net DEX	-7.9M	-17.8M	9.6M	-8.5M	9.6M
Net VEX	-33.9K	-63.1K	-21.7K	-23.0K	-54.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.01	2.24	0.33	0.81
Total Volume	186.35	8	1,332	24	659
Total OI	1,360.9	843	2,647	1,151	2,647

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
2025-01-02	$247.79	$210.00	32.5%	9.3%	25.1%	23.7%	33.0%	0.6%	11.9%	258.7K	-8.5M	-23.0K	0.33	93.30	18	6	756	395
2025-01-03	$252.83	$210.00	31.1%	8.9%	24.4%	20.0%	31.2%	8.4%	12.5%	268.7K	-9.6M	-22.6K	0.33	94.43	6	2	756	401
2025-01-06	$251.26	$200.00	31.1%	12.9%	24.4%	19.8%	45.0%	0.5%	-4.6%	266.8K	-9.2M	-21.7K	0.75	74.43	24	18	759	403
2025-01-07	$248.02	$250.00	33.0%	13.2%	24.1%	25.0%	46.0%	0.9%	-6.5%	240.7K	-8.5M	-23.9K	0.11	70.55	18	2	781	421
2025-01-08	$253.40	$250.00	33.5%	13.6%	24.4%	26.5%	46.1%	3.2%	-6.6%	266.3K	-9.5M	-23.6K	0.20	60.09	10	2	789	423
2025-01-10	$244.88	$250.00	37.3%	13.3%	27.1%	37.0%	47.3%	2.5%	-5.5%	222.9K	-7.9M	-23.1K	0.61	68.68	28	17	787	423
2025-01-13	$242.11	$250.00	46.4%	13.7%	25.8%	62.1%	46.9%	3.6%	-6.6%	203.5K	-7.3M	-23.4K	0.02	66.02	57	1	805	440
2025-01-14	$245.56	$250.00	41.9%	13.9%	26.2%	49.6%	49.1%	3.6%	-7.1%	213.1K	-8.5M	-24.5K	0.02	68.64	387	8	848	441
2025-01-15	$252.52	$250.00	47.2%	13.5%	27.5%	64.3%	46.2%	3.4%	-6.4%	333.5K	-17.8M	-42.2K	0.01	66.17	357	5	1,224	449
2025-01-16	$254.15	$250.00	47.2%	13.5%	26.7%	64.4%	46.7%	4.9%	-4.3%	298.7K	-13.4M	-32.1K	0.80	62.04	15	12	1,011	453
2025-01-17	$251.20	$250.00	48.5%	13.9%	26.9%	68.1%	48.6%	2.5%	-5.6%	271.6K	-12.9M	-32.0K	0.28	55.58	57	16	1,014	464
2025-01-21	$260.07	$250.00	49.8%	14.3%	26.3%	71.6%	49.4%	2.9%	-6.9%	153.7K	-8.6M	-32.3K	0.79	65.22	63	50	590	253
2025-01-22	$257.82	$260.00	51.5%	14.8%	26.6%	76.3%	49.0%	0.4%	-8.5%	163.3K	-8.5M	-33.4K	0.07	61.02	30	2	642	279
2025-01-23	$259.09	$260.00	52.0%	14.9%	26.6%	77.7%	51.2%	3.3%	-8.5%	165.0K	-8.6M	-34.2K	0.15	59.63	48	7	662	280
2025-01-24	$250.81	$260.00	53.3%	15.3%	28.9%	81.3%	53.5%	2.5%	-9.5%	178.3K	-7.9M	-35.0K	1.00	62.63	9	9	705	284
2025-01-27	$255.14	$260.00	56.4%	16.2%	29.3%	89.7%	56.3%	3.1%	-10.1%	181.0K	-8.4M	-35.2K	0.29	63.39	14	4	710	291
2025-01-28	$259.88	$260.00	59.6%	17.1%	29.9%	98.7%	60.9%	2.9%	-11.8%	196.1K	-9.4M	-34.7K	2.24	61.59	411	921	720	291
2025-01-29	$250.35	$260.00	63.6%	18.2%	32.5%	100.0%	63.3%	1.7%	-14.4%	-214.5K	-1.3M	-63.1K	1.38	59.26	26	36	1,090	1,201
2025-01-30	$252.67	$260.00	64.5%	18.5%	32.6%	100.0%	63.5%	3.5%	-13.6%	-192.4K	-1.8M	-62.9K	0.94	47.61	192	180	1,101	1,229
2025-01-31	$233.23	$250.00	36.9%	10.6%	43.5%	31.9%	36.0%	3.3%	-2.0%	-821.0K	9.6M	-54.5K	0.81	72.78	364	295	1,247	1,400