AA Options History — March 2009

In March 2009, AA traded between $12.54 and $19.51. ATM implied volatility averaged 123.0%, placing in the 63.8% IV rank vs the trailing year. The 30-day expected move averaged 35.8%. IV traded above realized volatility by 0.2% (HV 20d: 122.8%). Max pain ranged from $18.02 to $18.02. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 1.08.

Notable Days

  • 2009-03-17: Highest Volume — 78,288 contracts
  • 2009-03-30: Largest IV spike — 19.1% change
  • 2009-03-12: Highest IV Rank — 87.7%
  • 2009-03-12: Largest Expected Move — 44.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.21$12.54$19.51$13.19$17.64
Max Pain$18.02$18.02$18.02$18.02$18.02
ATM IV123.0%97.9%155.9%113.5%109.2%
Expected Move35.8%28.1%44.7%32.6%31.3%
HV 20d122.8%87.3%143.6%87.3%143.6%
HV 60d98.0%90.0%108.1%91.3%108.1%
IV Rank63.8%45.5%87.7%56.9%53.7%
IV Percentile90.9%74.6%99.6%93.3%85.7%
Term Structure-10.9%-25.2%3.8%3.8%-5.0%
VWIV121.8%99.0%148.3%113.0%109.2%
Skew 25d16.7%-5.5%31.4%1.1%12.1%
Skew 10d32.4%-8.2%61.3%-1.2%22.9%
Call IV 25d115.5%92.2%142.6%112.4%104.5%
Put IV 25d132.2%105.6%167.1%113.5%116.7%
Bid-Ask Spread %2.441.633.371.702.73
Gamma HHI0.230.190.300.220.20
Net GEX314.0K-18.9K1.0M104.6K821.5K
Net DEX-3.5M-97.1M36.1M35.1M-53.1M
Net VEX-749.3K-1.0M-548.4K-548.4K-1.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.232.680.681.15
Total Volume28,380.2277,75878,28815,30938,519
Total OI352,072.682296,027411,569296,027410,481

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-03-02$13.19$18.02113.5%32.6%87.3%56.9%113.0%1.1%3.8%104.6K35.1M-548.4K0.681.70N/AN/A9,1146,195195,377100,650
2009-03-03$13.29$18.02113.2%32.5%87.7%56.6%112.7%0.6%2.8%90.4K36.1M-557.0K0.232.68N/AN/A6,3051,453196,471102,549
2009-03-04$14.99$18.02122.9%35.2%98.3%63.7%108.1%15.5%-0.2%248.7K17.5M-663.9K0.852.86N/AN/A8,3067,072198,306102,042
2009-03-05$12.64$18.02137.4%39.4%113.2%74.3%138.4%-5.5%2.6%101.9K30.7M-567.7K1.282.60N/AN/A12,97916,673198,372105,260
2009-03-06$12.54$18.02140.5%43.3%111.8%76.5%148.3%31.1%-11.2%107.0K26.7M-605.0K2.012.71N/AN/A9,49119,079204,639112,644
2009-03-09$12.95$18.02139.6%43.3%111.1%75.8%147.6%31.4%-18.8%98.6K24.2M-633.0K1.042.40N/AN/A5,7155,921207,834121,010
2009-03-10$14.71$18.02141.7%42.6%122.7%77.4%139.5%25.6%-21.7%241.0K12.6M-708.3K1.221.94N/AN/A10,86313,231208,846121,782
2009-03-11$13.84$18.02134.8%42.1%119.4%72.4%135.1%26.9%-21.8%174.0K21.7M-664.6K0.921.80N/AN/A6,7476,190211,069124,748
2009-03-12$14.37$18.02155.9%44.7%120.6%87.7%145.9%30.8%-23.7%183.6K15.3M-681.0K1.872.12N/AN/A6,49612,162213,622123,613
2009-03-13$13.77$18.02140.8%40.4%121.0%76.7%137.2%25.5%-16.8%71.1K27.1M-653.2K1.322.42N/AN/A7,3869,719214,828129,629
2009-03-16$14.71$18.02136.3%39.1%124.3%73.5%124.6%20.0%-20.2%119.9K18.6M-686.9K0.412.51N/AN/A11,6994,799215,346131,074
2009-03-17$13.43$18.02122.9%35.2%123.1%63.7%120.2%21.1%-13.7%13.9K33.0M-610.7K2.681.63N/AN/A21,25257,036219,064130,874
2009-03-18$13.17$18.02126.4%36.2%122.7%66.2%126.4%16.6%-15.0%-14.8K34.0M-620.8K2.252.53N/AN/A20,10445,134221,733153,084
2009-03-19$15.38$18.02125.5%36.0%135.5%65.5%127.7%12.6%-25.2%-18.9K25.3M-737.3K0.262.54N/AN/A43,94511,360226,617181,185
2009-03-20$15.72$18.02122.0%35.0%135.7%63.0%124.6%11.2%-24.7%251.3K-12.0M-818.5K0.672.19N/AN/A12,4368,368246,931164,638
2009-03-23$17.78$18.02107.0%30.7%138.7%52.1%108.7%18.7%-10.6%512.7K-51.4M-881.2K0.262.05N/AN/A28,3957,464221,447129,609
2009-03-24$17.66$18.02101.1%29.0%135.2%47.8%103.8%15.8%-7.7%694.1K-52.9M-888.1K1.263.17N/AN/A11,81814,906230,647130,295
2009-03-25$18.55$18.0299.2%28.5%136.1%46.5%100.0%15.2%-4.8%915.6K-80.2M-1.0M0.872.36N/AN/A17,25314,968234,323136,787
2009-03-26$19.51$18.02102.3%29.3%136.8%48.7%99.0%15.5%-2.6%1.0M-97.1M-1.0M0.642.53N/AN/A16,64710,659238,233140,820
2009-03-27$18.74$18.0297.9%28.1%136.7%45.5%100.8%13.4%1.1%839.8K-74.5M-1.0M1.423.37N/AN/A6,7909,639242,025148,081
2009-03-30$16.08$18.02116.6%33.4%140.6%59.1%108.3%13.1%-6.6%334.3K-13.0M-904.9K0.442.92N/AN/A20,9139,164244,829154,185
2009-03-31$17.64$18.02109.2%31.3%143.6%53.7%109.2%12.1%-5.0%821.5K-53.1M-1.0M1.152.73N/AN/A17,89520,624257,859152,622