AA Options History — September 2009

In September 2009, AA traded between $27.75 and $34.77. ATM implied volatility averaged 54.0%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 16.0%. IV traded above realized volatility by 7.8% (HV 20d: 46.2%). Max pain ranged from $24.03 to $28.84. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.52.

Notable Days

  • 2009-09-15: Highest Volume — 71,946 contracts
  • 2009-09-10: Largest IV spike — 30.4% change
  • 2009-09-16: Highest IV Rank — 12.5%
  • 2009-09-16: Largest Expected Move — 16.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.68$27.75$34.77$27.85$31.53
Max Pain$24.83$24.03$28.84$28.84$24.03
ATM IV54.0%42.8%59.1%49.8%56.5%
Expected Move16.0%14.0%16.9%14.3%16.2%
HV 20d46.2%43.1%49.5%49.0%45.2%
HV 60d52.0%48.3%56.1%56.1%48.4%
IV Rank8.8%0.0%12.5%8.3%10.5%
IV Percentile13.8%0.0%20.6%7.9%17.1%
Term Structure1.0%-3.3%10.8%10.8%-2.1%
VWIV56.3%49.3%59.7%50.7%57.3%
Skew 25d2.6%-1.0%5.6%5.3%-0.4%
Skew 10d6.0%-4.0%12.9%8.4%-2.5%
Call IV 25d55.8%47.0%59.9%50.2%58.3%
Put IV 25d58.4%52.1%61.5%55.5%57.9%
Bid-Ask Spread %3.692.624.584.262.64
Gamma HHI0.210.150.420.150.21
Net GEX7.5M3.2M16.7M3.3M7.0M
Net DEX-405.0M-627.3M-197.2M-203.9M-367.1M
Net VEX-1.8M-2.2M-1.6M-1.6M-1.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.520.180.900.620.58
Total Volume23,784.3338,10571,94613,26714,087
Total OI509,128.762478,482591,844478,482523,813

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-09-01$27.85$28.8449.8%14.3%49.0%8.3%50.7%5.3%10.8%3.3M-203.9M-1.6M0.624.26N/AN/A8,1925,075323,514154,968
2009-09-02$27.75$28.8451.0%14.6%46.8%9.2%51.9%4.0%10.0%3.2M-197.2M-1.6M0.523.64N/AN/A11,7596,137323,705155,122
2009-09-03$28.86$28.8448.9%14.0%48.1%3.9%49.3%5.1%10.1%4.5M-262.6M-1.6M0.183.70N/AN/A15,9712,854327,640155,166
2009-09-04$29.27$24.0346.9%16.3%48.1%2.4%58.1%4.5%2.1%5.4M-294.7M-1.7M0.883.70N/AN/A5,9705,258341,419155,974
2009-09-08$30.28$24.0344.3%16.4%49.1%0.4%57.6%5.2%1.7%6.3M-347.4M-1.7M0.323.26N/AN/A9,3983,019343,235157,647
2009-09-09$30.78$24.0342.8%16.0%49.5%0.0%55.5%5.4%2.3%6.7M-366.6M-1.7M0.473.68N/AN/A9,5314,442337,710157,704
2009-09-10$30.85$24.0355.8%16.0%49.0%10.0%56.3%5.1%1.1%7.0M-372.6M-1.7M0.394.07N/AN/A8,3453,217340,521158,725
2009-09-11$31.21$24.0354.6%15.7%44.5%9.1%53.9%5.5%1.9%7.9M-396.1M-1.7M0.494.13N/AN/A18,6279,192343,622159,044
2009-09-14$31.09$24.0354.8%15.7%43.1%9.2%54.9%5.6%1.6%7.9M-388.5M-1.7M0.604.49N/AN/A12,4877,526347,946162,875
2009-09-15$33.62$24.0354.8%15.7%44.4%9.2%55.9%3.1%0.2%9.9M-551.4M-1.8M0.534.58N/AN/A46,92425,022351,422165,683
2009-09-16$34.77$24.0359.1%16.9%43.8%12.5%59.7%2.9%-2.3%11.3M-627.3M-2.1M0.222.98N/AN/A45,2009,750364,966180,331
2009-09-17$33.76$24.0358.8%16.9%43.2%12.3%59.6%1.2%-1.4%9.1M-555.0M-2.1M0.534.06N/AN/A45,52123,901383,086183,112
2009-09-18$33.79$24.0357.0%16.4%43.1%10.9%58.1%1.0%-1.2%16.7M-575.7M-2.2M0.613.31N/AN/A14,5518,949407,161184,683
2009-09-21$33.50$24.0356.8%16.3%43.4%10.7%57.5%1.1%-2.3%7.2M-441.0M-1.9M0.833.73N/AN/A9,6588,032329,281153,281
2009-09-22$34.27$24.0356.9%16.3%43.4%10.8%57.4%0.6%-2.3%7.5M-498.7M-1.9M0.273.02N/AN/A18,8605,122332,855148,876
2009-09-23$33.98$24.0355.6%15.9%43.5%9.9%56.4%0.1%-0.3%7.8M-493.7M-1.9M0.314.36N/AN/A14,7074,502345,246149,978
2009-09-24$32.46$24.0357.4%16.5%47.1%11.2%58.3%0.8%-2.0%7.3M-411.5M-1.9M0.602.62N/AN/A14,5748,748351,375151,546
2009-09-25$31.43$24.0357.1%16.4%48.8%11.0%57.8%-0.6%-2.2%6.6M-363.3M-1.8M0.744.30N/AN/A8,7776,528352,959154,362
2009-09-28$32.27$24.0357.7%16.5%49.5%11.5%58.3%-0.2%-3.3%7.2M-401.9M-1.8M0.903.44N/AN/A4,2553,850354,006156,390
2009-09-29$31.98$26.4356.7%16.3%47.5%10.7%57.5%-1.0%-1.7%7.1M-388.9M-1.9M0.413.57N/AN/A7,7823,171358,901161,854
2009-09-30$31.53$24.0356.5%16.2%45.2%10.5%57.3%-0.4%-2.1%7.0M-367.1M-1.9M0.582.64N/AN/A8,9185,169361,934161,879