AA Options History — December 2009

In December 2009, AA traded between $30.76 and $39.27. ATM implied volatility averaged 43.7%, placing in the 7.6% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded below realized volatility by 0.6% (HV 20d: 44.3%). Max pain ranged from $24.03 to $31.24. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.73.

Notable Days

  • 2009-12-11: Highest Volume — 64,392 contracts
  • 2009-12-10: Largest IV spike — 27.4% change
  • 2009-12-14: Highest IV Rank — 11.1%
  • 2009-12-08: Largest Expected Move — 13.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.14$30.76$39.27$30.76$38.74
Max Pain$25.67$24.03$31.24$31.24$30.04
ATM IV43.7%35.8%47.9%38.0%47.1%
Expected Move13.1%10.9%13.9%10.9%13.5%
HV 20d44.3%30.7%51.4%30.7%45.9%
HV 60d45.3%42.6%46.6%43.7%45.1%
IV Rank7.6%1.1%11.1%2.9%10.4%
IV Percentile13.7%0.8%22.2%3.2%22.2%
Term Structure-0.9%-4.5%7.4%7.4%-3.2%
VWIV46.7%39.0%49.9%39.0%48.1%
Skew 25d3.3%1.8%4.7%4.0%1.8%
Skew 10d6.7%2.9%11.9%6.9%2.9%
Call IV 25d45.4%37.3%48.8%37.3%47.3%
Put IV 25d48.7%41.3%51.4%41.3%49.0%
Bid-Ask Spread %2.371.414.033.611.41
Gamma HHI0.250.190.300.250.20
Net GEX10.7M6.1M13.3M6.1M12.7M
Net DEX-483.9M-710.3M-222.6M-222.6M-679.8M
Net VEX-1.6M-1.7M-1.5M-1.5M-1.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.730.252.090.271.06
Total Volume19,063.5916,10964,3928,12110,160
Total OI507,346.227483,445530,473489,804527,269

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-12-01$30.76$31.2438.0%10.9%30.7%2.9%39.0%4.0%7.4%6.1M-222.6M-1.5M0.273.61N/AN/A6,3931,728338,835150,969
2009-12-02$32.78$31.2439.6%11.4%37.6%4.3%40.7%3.1%6.4%8.5M-348.3M-1.7M0.352.43N/AN/A18,1056,343340,157151,037
2009-12-03$31.89$31.2439.6%11.4%38.9%4.3%39.2%3.6%6.3%7.9M-288.4M-1.6M0.554.03N/AN/A5,2252,860344,225151,508
2009-12-04$31.21$24.0337.7%13.7%38.4%2.7%47.9%3.7%-1.0%6.9M-243.6M-1.6M0.572.58N/AN/A8,1054,605345,411152,411
2009-12-07$31.36$24.0338.1%13.8%38.4%3.0%48.2%4.3%-1.2%7.3M-259.0M-1.5M0.682.51N/AN/A4,3082,923345,888153,568
2009-12-08$30.93$24.0339.1%13.9%36.6%3.8%48.6%3.9%-1.5%6.5M-223.7M-1.5M0.672.65N/AN/A4,7253,150346,306153,493
2009-12-09$31.43$24.0335.8%13.7%36.9%1.1%48.1%4.0%-1.2%7.6M-260.9M-1.5M0.972.30N/AN/A3,0953,014347,360153,805
2009-12-10$32.44$24.0345.6%13.1%38.8%9.2%46.8%4.3%0.9%9.3M-326.3M-1.5M0.852.29N/AN/A5,7304,875347,660154,137
2009-12-11$35.11$24.0347.5%13.6%47.1%10.8%48.3%2.5%-1.6%11.3M-512.5M-1.6M0.422.07N/AN/A45,46618,926347,889155,785
2009-12-14$35.61$24.0347.9%13.7%47.2%11.1%49.2%2.5%-2.1%12.7M-553.2M-1.6M0.601.85N/AN/A13,6978,240358,552157,898
2009-12-15$35.28$24.0347.4%13.6%46.4%10.7%48.5%2.7%-1.5%12.5M-527.4M-1.6M0.612.23N/AN/A6,2883,835359,566160,723
2009-12-16$35.80$24.0347.5%13.6%46.5%10.8%48.5%2.2%-1.8%12.7M-563.9M-1.6M0.262.41N/AN/A18,2064,690359,282160,231
2009-12-17$34.84$24.0347.7%13.7%47.8%11.0%49.2%3.1%-1.8%13.1M-495.4M-1.6M1.052.02N/AN/A5,6175,903366,973161,488
2009-12-18$35.04$24.0344.6%12.8%45.1%8.4%46.4%3.4%0.3%12.1M-512.0M-1.6M0.632.25N/AN/A7,9244,984363,886162,376
2009-12-21$37.80$24.0346.3%13.3%51.4%9.8%47.5%2.3%-3.5%12.1M-617.7M-1.5M0.402.16N/AN/A38,90815,737338,162145,283
2009-12-22$37.94$24.0344.5%12.8%51.1%8.3%46.8%3.6%-3.9%12.4M-619.5M-1.5M1.142.39N/AN/A10,39111,797342,695150,528
2009-12-23$38.45$24.0342.8%12.3%50.6%6.9%45.2%4.7%-1.7%12.4M-643.7M-1.6M0.801.72N/AN/A8,2676,604346,733154,326
2009-12-24$39.27$24.0343.0%12.3%50.7%7.1%43.9%3.3%-1.9%12.4M-703.6M-1.5M0.252.33N/AN/A25,7056,371346,783154,613
2009-12-28$38.69$24.0347.3%13.6%49.7%10.6%49.6%3.8%-4.1%13.3M-677.6M-1.6M1.192.31N/AN/A10,18412,095356,481157,185
2009-12-29$38.52$26.4346.1%13.2%49.3%9.6%49.9%2.9%-3.9%12.8M-655.9M-1.5M2.092.38N/AN/A8,09016,899355,662164,005
2009-12-30$39.17$30.0447.2%13.5%49.2%10.5%48.3%3.3%-4.5%12.4M-710.3M-1.5M0.672.13N/AN/A5,5143,717356,504173,969
2009-12-31$38.74$30.0447.1%13.5%45.9%10.4%48.1%1.8%-3.2%12.7M-679.8M-1.5M1.061.41N/AN/A4,9285,232354,913172,356