APPF Options History — February 2025

In February 2025, APPF traded between $211.51 and $238.75. ATM implied volatility averaged 34.8%, placing in the 26.8% IV rank vs the trailing year. The 30-day expected move averaged 10.0%. IV traded below realized volatility by 5.9% (HV 20d: 40.7%). Max pain ranged from $230.00 to $250.00. Net GEX was positive for 9 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 5.07.

Notable Days

2025-02-20: Highest Volume — 1,808 contracts
2025-02-25: Largest IV spike — 9.5% change
2025-02-26: Highest IV Rank — 36.1%
2025-02-26: Largest Expected Move — 11.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$218.88	$211.51	$238.75	$238.75	$213.00
Max Pain	$234.21	$230.00	$250.00	$240.00	$230.00
ATM IV	34.8%	32.6%	38.6%	32.9%	36.6%
Expected Move	10.0%	9.4%	11.1%	9.4%	10.5%
HV 20d	40.7%	35.0%	44.8%	44.4%	35.0%
HV 60d	32.8%	31.4%	34.4%	33.9%	31.5%
IV Rank	26.8%	21.5%	36.1%	22.2%	31.2%
IV Percentile	45.8%	25.4%	70.6%	27.8%	62.3%
Term Structure	-0.1%	-2.7%	1.7%	0.0%	-0.4%
VWIV	34.5%	28.5%	40.2%	35.6%	37.4%
Skew 25d	2.8%	1.1%	4.7%	3.0%	4.4%
Skew 10d	5.1%	0.8%	12.4%	6.8%	12.4%
Call IV 25d	33.4%	31.0%	36.2%	34.2%	34.3%
Put IV 25d	36.2%	34.0%	40.9%	37.2%	38.7%
Bid-Ask Spread %	74.74	67.38	83.86	79.73	76.33
Gamma HHI	0.30	0.09	0.72	0.69	0.09
Net GEX	-184.4K	-746.9K	78.3K	-746.9K	78.3K
Net DEX	9.0M	-3.4M	16.5M	2.1M	-3.4M
Net VEX	-40.0K	-58.3K	-31.7K	-58.3K	-42.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	5.07	0.03	74.33	1.53	0.50
Total Volume	170.684	6	1,808	129	6
Total OI	2,485.316	1,223	2,970	2,805	1,434

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
2025-02-03	$238.75	$240.00	32.9%	9.4%	44.4%	22.2%	35.6%	3.0%	0.0%	-746.9K	2.1M	-58.3K	1.53	79.73	51	78	1,445	1,360
2025-02-04	$231.53	$240.00	34.5%	9.9%	44.8%	26.1%	34.7%	2.9%	0.3%	-690.2K	8.1M	-54.9K	0.69	79.04	49	34	1,443	1,399
2025-02-05	$229.05	$240.00	32.6%	9.4%	44.8%	21.5%	31.9%	3.6%	1.7%	-717.6K	9.8M	-51.3K	1.27	83.86	15	19	1,473	1,392
2025-02-06	$227.11	$250.00	34.4%	9.6%	44.7%	25.9%	34.0%	1.3%	0.3%	-625.6K	10.9M	-49.1K	0.03	67.94	131	4	1,476	1,396
2025-02-07	$223.27	$240.00	34.2%	9.7%	43.9%	25.3%	32.6%	3.0%	0.1%	-463.8K	12.9M	-45.9K	0.41	67.38	46	19	1,514	1,385
2025-02-10	$223.46	$240.00	35.5%	10.2%	42.7%	28.6%	35.9%	1.1%	-0.3%	-440.7K	13.6M	-42.5K	0.23	72.72	13	3	1,507	1,385
2025-02-11	$218.70	$240.00	33.3%	9.5%	43.0%	23.0%	34.0%	2.3%	-0.1%	-215.3K	15.5M	-37.4K	1.33	72.85	27	36	1,517	1,379
2025-02-12	$214.17	$230.00	34.2%	9.8%	42.7%	25.3%	28.5%	2.2%	-0.7%	-55.9K	16.1M	-33.9K	1.83	74.16	12	22	1,528	1,354
2025-02-13	$215.03	$230.00	33.2%	9.5%	41.0%	22.8%	32.7%	2.5%	0.8%	-33.9K	16.1M	-33.5K	0.25	70.70	16	4	1,538	1,358
2025-02-14	$215.90	$230.00	33.6%	9.6%	40.9%	23.8%	34.6%	3.2%	0.3%	-15.2K	16.3M	-32.8K	9.03	76.26	37	334	1,534	1,354
2025-02-18	$212.06	$230.00	34.5%	9.9%	41.0%	26.0%	35.1%	1.6%	0.9%	23.6K	16.5M	-31.7K	0.23	75.56	22	5	1,552	1,366
2025-02-19	$215.56	$230.00	33.1%	9.5%	38.9%	22.5%	33.3%	2.8%	1.7%	49.4K	15.9M	-31.9K	0.60	73.59	55	33	1,567	1,366
2025-02-20	$216.17	$230.00	33.3%	9.5%	39.1%	23.1%	33.7%	2.7%	1.4%	44.0K	16.1M	-33.1K	74.33	74.60	24	1,784	1,585	1,385
2025-02-21	$212.47	$230.00	34.8%	10.0%	38.9%	26.8%	35.4%	3.7%	-0.6%	14.0K	16.3M	-32.1K	1.59	77.27	17	27	1,585	1,385
2025-02-24	$215.10	$230.00	35.2%	10.1%	38.7%	27.7%	34.8%	1.8%	0.5%	74.6K	-3.0M	-31.9K	0.27	72.48	60	16	830	393
2025-02-25	$212.28	$230.00	38.5%	11.0%	37.6%	36.0%	40.2%	4.7%	-2.7%	72.5K	-3.0M	-35.8K	1.16	73.33	61	71	886	399
2025-02-26	$213.57	$230.00	38.6%	11.1%	36.6%	36.1%	37.2%	3.4%	-2.1%	70.8K	-3.0M	-39.2K	0.06	72.36	86	5	915	429
2025-02-27	$211.51	$230.00	38.1%	10.9%	35.2%	34.9%	0.0%	3.7%	-2.1%	74.9K	-3.0M	-41.5K	0.91	79.96	11	10	977	430
2025-02-28	$213.00	$230.00	36.6%	10.5%	35.0%	31.2%	37.4%	4.4%	-0.4%	78.3K	-3.4M	-42.7K	0.50	76.33	4	2	977	457