AA Options History — July 2009

In July 2009, AA traded between $22.18 and $28.26. ATM implied volatility averaged 57.1%, placing in the 15.4% IV rank vs the trailing year. The 30-day expected move averaged 15.6%. IV traded below realized volatility by 0.5% (HV 20d: 57.5%). Max pain ranged from $24.03 to $24.03. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 0.57.

Notable Days

  • 2009-07-08: Highest Volume — 71,600 contracts
  • 2009-07-09: Largest IV drop — 35.0% change
  • 2009-07-08: Highest IV Rank — 43.3%
  • 2009-07-08: Largest Expected Move — 21.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.74$22.18$28.26$24.87$28.26
Max Pain$24.03$24.03$24.03$24.03$24.03
ATM IV57.1%43.8%95.2%62.3%46.5%
Expected Move15.6%12.5%21.5%17.9%13.3%
HV 20d57.5%50.8%65.5%64.2%50.8%
HV 60d65.0%61.7%69.5%67.7%61.8%
IV Rank15.4%5.6%43.3%19.2%7.6%
IV Percentile21.1%4.8%67.9%29.0%9.5%
Term Structure2.8%-6.4%9.5%-2.9%3.5%
VWIV54.8%44.9%73.5%61.9%47.3%
Skew 25d5.1%1.1%9.6%4.6%2.0%
Skew 10d11.0%3.5%18.7%13.9%6.2%
Call IV 25d52.8%43.6%70.1%61.0%47.0%
Put IV 25d57.9%48.2%77.6%65.6%49.0%
Bid-Ask Spread %3.692.674.693.183.46
Gamma HHI0.250.160.420.230.17
Net GEX4.3M2.5M8.0M4.5M4.6M
Net DEX-189.9M-307.6M-96.1M-217.4M-307.6M
Net VEX-1.5M-1.7M-1.4M-1.5M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.251.140.710.25
Total Volume26,921.7736,88071,60015,34022,678
Total OI476,483.091395,669554,018482,575431,299

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-07-01$24.87$24.0362.3%17.9%64.2%19.2%61.9%4.6%-2.9%4.5M-217.4M-1.5M0.713.18N/AN/A8,9756,365316,772165,803
2009-07-02$23.69$24.0366.4%19.0%62.6%22.2%66.6%1.1%-5.0%3.8M-165.1M-1.5M0.892.94N/AN/A15,40713,744321,531170,416
2009-07-06$22.25$24.0381.5%19.5%65.0%33.2%67.8%7.8%-1.0%2.7M-96.1M-1.4M0.594.10N/AN/A20,19611,994322,400173,017
2009-07-07$22.61$24.0392.3%21.1%65.5%41.1%71.9%7.9%-5.9%3.0M-123.9M-1.5M0.464.39N/AN/A42,18419,250327,733177,488
2009-07-08$22.73$24.0395.2%21.5%63.9%43.3%73.5%7.5%-6.4%3.6M-135.0M-1.5M0.584.16N/AN/A45,38526,215342,800180,474
2009-07-09$22.18$24.0361.9%18.2%62.5%18.9%64.6%9.6%1.5%4.1M-98.6M-1.5M0.522.78N/AN/A39,98320,938363,079190,939
2009-07-10$22.44$24.0359.3%18.0%57.1%17.0%63.0%7.9%2.2%4.0M-101.4M-1.4M0.623.58N/AN/A9,3535,799355,134193,084
2009-07-13$23.21$24.0359.9%16.1%59.4%17.4%57.9%7.5%6.8%5.4M-144.2M-1.5M0.923.98N/AN/A8,8088,114352,119193,107
2009-07-14$23.04$24.0357.4%15.4%55.5%15.6%55.1%8.0%7.7%5.3M-133.3M-1.4M1.143.21N/AN/A6,7177,648352,504192,156
2009-07-15$24.37$24.0358.5%15.9%59.3%16.4%54.9%6.5%5.8%7.9M-225.4M-1.5M0.383.30N/AN/A18,1066,898353,127193,257
2009-07-16$25.09$24.0353.3%15.3%58.9%12.6%53.2%4.8%7.2%8.0M-280.7M-1.5M0.333.04N/AN/A20,1856,754354,210195,336
2009-07-17$24.56$24.0348.1%13.8%58.4%8.8%48.5%4.7%9.5%5.2M-262.9M-1.4M0.274.46N/AN/A26,5397,054348,375195,252
2009-07-20$25.47$24.0343.8%12.5%59.6%5.6%44.9%5.1%4.2%2.7M-173.0M-1.4M0.414.69N/AN/A14,2035,886265,272130,397
2009-07-21$24.37$24.0346.1%13.2%51.6%7.4%46.2%5.7%3.6%2.5M-137.3M-1.4M0.483.45N/AN/A13,0266,223263,142132,745
2009-07-22$24.51$24.0345.6%13.1%51.6%7.0%45.9%5.3%4.3%2.6M-144.1M-1.4M0.563.66N/AN/A4,4222,458264,370135,248
2009-07-23$25.95$24.0346.5%13.3%55.0%7.6%47.6%3.3%3.1%3.1M-197.6M-1.5M0.333.97N/AN/A19,2916,275265,596135,543
2009-07-24$26.48$24.0345.2%13.0%52.7%6.7%46.0%3.2%4.6%3.7M-223.0M-1.5M0.492.67N/AN/A17,3708,436272,723136,779
2009-07-27$27.15$24.0347.3%13.6%53.4%8.2%48.1%2.3%4.2%4.1M-256.5M-1.6M0.774.62N/AN/A15,05611,642280,514140,184
2009-07-28$27.06$24.0346.2%13.3%52.0%7.4%46.7%3.4%5.5%4.2M-249.3M-1.7M0.533.41N/AN/A5,9683,161288,707151,014
2009-07-29$26.46$24.0344.9%12.9%52.6%6.5%46.2%2.8%5.8%4.3M-231.1M-1.6M0.933.59N/AN/A6,5486,094289,603143,406
2009-07-30$27.54$24.0347.4%13.6%54.2%8.3%47.4%2.1%3.8%4.4M-274.6M-1.5M0.474.56N/AN/A14,2036,728284,184141,789
2009-07-31$28.26$24.0346.5%13.3%50.8%7.6%47.3%2.0%3.5%4.6M-307.6M-1.6M0.253.46N/AN/A18,2124,466288,403142,896