APPF Options History — November 2025

In November 2025, APPF traded between $221.44 and $264.09. ATM implied volatility averaged 40.9%, placing in the 34.7% IV rank vs the trailing year. The 30-day expected move averaged 11.3%. IV traded below realized volatility by 0.2% (HV 20d: 41.0%). Max pain ranged from $220.00 to $250.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 1.26.

Notable Days

2025-11-04: Highest Volume — 512 contracts
2025-11-12: Largest IV drop — 17.4% change
2025-11-03: Highest IV Rank — 49.5%
2025-11-03: Largest Expected Move — 13.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$241.41	$221.44	$264.09	$264.09	$229.32
Max Pain	$237.89	$220.00	$250.00	$220.00	$240.00
ATM IV	40.9%	34.0%	48.0%	48.0%	34.4%
Expected Move	11.3%	9.8%	13.8%	13.8%	9.9%
HV 20d	41.0%	36.9%	43.9%	39.7%	43.0%
HV 60d	34.3%	32.6%	36.0%	32.8%	35.8%
IV Rank	34.7%	20.7%	49.5%	49.5%	21.6%
IV Percentile	68.7%	47.6%	79.4%	79.4%	50.4%
Term Structure	-1.4%	-5.4%	0.9%	-4.8%	-0.4%
VWIV	40.3%	33.9%	49.4%	49.4%	34.4%
Skew 25d	0.8%	-4.1%	3.5%	0.9%	2.4%
Skew 10d	2.1%	-5.6%	9.0%	-0.0%	3.7%
Call IV 25d	39.7%	33.6%	49.6%	49.6%	33.9%
Put IV 25d	40.5%	35.9%	50.5%	50.5%	36.3%
Bid-Ask Spread %	80.17	67.56	88.91	75.64	87.55
Gamma HHI	0.23	0.11	0.36	0.28	0.11
Net GEX	873.4K	823	1.8M	1.5M	60.8K
Net DEX	-13.2M	-39.0M	4.6M	-39.0M	2.8M
Net VEX	-107.2K	-177.1K	-67.1K	-177.1K	-74.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.26	0.01	10.50	0.36	2.25
Total Volume	110.947	10	512	472	26
Total OI	4,634.579	3,133	5,249	5,084	3,184

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
2025-11-03	$264.09	$220.00	48.0%	13.8%	39.7%	49.5%	49.4%	0.9%	-4.8%	1.5M	-39.0M	-177.1K	0.36	75.64	347	125	3,951	1,133
2025-11-04	$260.55	$220.00	47.3%	13.6%	39.8%	48.0%	47.6%	3.0%	-5.4%	1.7M	-36.6M	-176.3K	0.01	81.40	505	7	4,138	1,111
2025-11-05	$256.75	$220.00	41.8%	12.0%	39.0%	36.6%	47.4%	-0.4%	-5.2%	1.6M	-29.9M	-143.6K	1.04	82.88	24	25	3,813	1,112
2025-11-06	$250.14	$240.00	44.5%	10.7%	39.9%	42.3%	38.4%	-3.6%	-0.6%	1.5M	-23.3M	-137.2K	0.19	77.80	124	24	3,817	1,113
2025-11-07	$252.63	$240.00	44.0%	11.0%	38.3%	41.2%	37.5%	-1.1%	-0.5%	1.6M	-24.1M	-136.9K	0.43	76.20	7	3	3,802	1,136
2025-11-10	$257.21	$240.00	46.2%	11.0%	38.5%	45.7%	0.0%	3.2%	-0.9%	1.8M	-27.1M	-132.5K	0.35	78.19	17	6	3,799	1,137
2025-11-11	$252.18	$240.00	45.7%	10.8%	39.6%	44.7%	0.0%	0.1%	-0.6%	1.6M	-23.8M	-128.0K	0.04	75.84	28	1	3,809	1,133
2025-11-12	$250.87	$240.00	37.8%	10.8%	39.7%	28.4%	0.0%	0.7%	-0.3%	1.5M	-20.3M	-120.4K	0.14	80.50	28	4	3,812	1,133
2025-11-13	$246.44	$240.00	39.2%	11.2%	40.1%	31.3%	39.3%	-4.1%	-1.6%	1.3M	-17.5M	-115.1K	0.40	76.82	15	6	3,816	1,132
2025-11-14	$248.54	$250.00	38.7%	11.1%	36.9%	30.3%	41.9%	0.4%	-1.1%	1.4M	-17.7M	-112.0K	1.09	76.57	81	88	3,815	1,133
2025-11-17	$237.41	$250.00	40.5%	11.6%	40.2%	34.0%	40.8%	-0.3%	-2.4%	742.0K	-7.3M	-92.7K	0.32	77.52	78	25	3,842	1,170
2025-11-18	$227.13	$240.00	41.3%	11.8%	43.1%	35.6%	40.0%	3.5%	-2.6%	85.9K	1.2M	-74.7K	0.37	88.91	238	87	3,867	1,176
2025-11-19	$222.25	$240.00	40.3%	11.5%	43.7%	33.5%	40.6%	2.9%	-1.0%	70.0K	1.1M	-71.8K	2.10	84.01	10	21	4,016	1,176
2025-11-20	$221.44	$240.00	40.3%	11.6%	43.5%	33.6%	41.5%	1.1%	-0.7%	49.5K	742.3K	-68.7K	0.37	82.25	54	20	4,020	1,143
2025-11-21	$225.63	$240.00	39.3%	11.3%	43.9%	31.5%	39.8%	-2.1%	-0.2%	38.1K	-2.5M	-72.4K	10.50	84.80	2	21	4,028	1,122
2025-11-24	$226.75	$240.00	37.1%	10.6%	43.5%	27.0%	36.9%	2.6%	-0.0%	5.2K	4.6M	-67.1K	0.19	67.56	27	5	2,293	840
2025-11-25	$229.29	$240.00	35.8%	10.3%	43.8%	24.3%	35.9%	3.1%	0.9%	823	4.4M	-67.2K	1.75	81.60	4	7	2,320	843
2025-11-26	$228.25	$240.00	34.0%	9.8%	43.0%	20.7%	33.9%	2.3%	0.4%	15.0K	4.0M	-69.0K	2.00	87.27	6	12	2,324	848
2025-11-28	$229.32	$240.00	34.4%	9.9%	43.0%	21.6%	34.4%	2.4%	-0.4%	60.8K	2.8M	-74.0K	2.25	87.55	8	18	2,330	854