AA Options History — January 2014

In January 2014, AA traded between $24.27 and $29.36. ATM implied volatility averaged 36.2%, placing in the 43.2% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 2.8% (HV 20d: 33.4%). Max pain ranged from $16.82 to $24.03. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.59.

Notable Days

  • 2014-01-21: Highest Volume — 92,595 contracts
  • 2014-01-10: Largest IV drop — 43.4% change
  • 2014-01-07: Highest IV Rank — 91.1%
  • 2014-01-29: Largest Expected Move — 9.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.78$24.27$29.36$25.30$27.66
Max Pain$19.91$16.82$24.03$16.82$24.03
ATM IV36.2%23.3%59.5%43.0%40.4%
Expected Move9.1%7.4%9.4%9.2%9.4%
HV 20d33.4%19.3%47.3%19.8%47.3%
HV 60d35.4%33.3%37.3%33.9%35.5%
IV Rank43.2%16.5%91.1%57.0%51.8%
IV Percentile84.5%41.3%98.8%96.4%94.8%
Term Structure-0.6%-9.6%1.8%-8.1%-0.3%
VWIV32.4%28.8%34.4%32.4%33.5%
Skew 25d-0.9%-6.6%1.4%-6.6%-1.9%
Skew 10d-1.4%-8.4%4.1%-8.4%-4.6%
Call IV 25d34.7%27.6%43.4%42.5%39.8%
Put IV 25d33.9%28.4%39.6%36.0%37.9%
Bid-Ask Spread %14.993.5388.4410.1613.46
Gamma HHI0.370.180.710.460.22
Net GEX9.3M5.2M17.4M10.6M6.7M
Net DEX-392.6M-570.8M-245.0M-348.3M-345.5M
Net VEX-2.0M-2.4M-1.7M-1.7M-2.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.590.101.330.740.98
Total Volume38,999.9529,32692,5959,32621,659
Total OI496,154.524355,218594,875508,672444,481

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-01-02$25.30$16.8243.0%9.2%19.8%57.0%32.4%-6.6%-8.1%10.6M-348.3M-1.7M0.7410.16N/AN/A5,3583,968310,687197,985
2014-01-03$25.40$16.8243.5%9.2%19.3%58.1%32.5%-3.9%-9.6%10.5M-357.7M-1.7M0.4111.77N/AN/A8,9163,620311,687198,305
2014-01-06$25.30$16.8252.7%9.2%19.5%77.2%32.2%0.4%-0.7%11.1M-353.1M-1.7M1.3310.76N/AN/A6,7809,015314,210198,819
2014-01-07$25.33$16.8259.5%9.3%19.5%91.1%33.1%-0.8%-0.9%10.2M-345.2M-1.7M0.647.71N/AN/A11,8617,552312,212206,070
2014-01-08$26.02$16.8243.9%9.3%20.8%59.0%31.9%0.9%-0.4%10.0M-393.4M-1.8M0.2918.84N/AN/A30,0548,794318,468210,994
2014-01-09$25.69$16.8244.8%7.4%21.9%60.7%28.8%1.4%-1.3%10.8M-397.0M-1.8M0.7388.44N/AN/A35,99526,105332,230213,970
2014-01-10$24.29$16.8225.3%9.3%29.3%20.6%32.7%0.8%1.1%14.0M-245.0M-1.8M0.4011.04N/AN/A48,41719,482347,383226,963
2014-01-13$24.27$16.8226.9%9.1%29.4%24.0%31.6%0.5%1.3%15.5M-251.2M-1.8M0.1010.41N/AN/A48,2674,823353,149222,172
2014-01-14$24.80$16.8223.3%9.0%29.8%16.5%31.7%0.9%1.7%12.4M-356.8M-2.0M0.2810.75N/AN/A10,1242,866371,936222,939
2014-01-15$25.45$16.8225.4%9.2%30.8%20.9%32.2%1.4%1.8%8.2M-411.5M-2.0M0.3312.12N/AN/A13,8144,494366,767221,211
2014-01-16$26.53$16.8227.9%9.2%33.3%25.9%34.4%-2.0%1.3%17.4M-518.4M-2.0M0.1712.33N/AN/A33,3735,744367,724223,499
2014-01-17$27.30$16.8228.4%8.8%34.2%27.1%30.9%-1.1%1.4%7.2M-570.8M-2.0M0.427.61N/AN/A33,62714,032365,041224,954
2014-01-21$29.15$24.0330.2%8.7%40.0%30.7%31.6%1.2%0.6%6.5M-448.5M-2.0M0.3313.11N/AN/A69,48123,114243,328111,890
2014-01-22$29.36$24.0338.8%9.2%39.7%48.4%32.4%-2.1%-2.6%7.2M-470.0M-2.1M0.263.53N/AN/A70,89618,742265,869123,613
2014-01-23$29.00$24.0331.4%9.0%40.3%33.2%32.8%-0.9%0.9%6.8M-455.3M-2.1M0.366.10N/AN/A46,62016,605290,984131,921
2014-01-24$27.49$24.0334.9%9.1%45.6%40.4%33.4%-1.4%-0.4%6.9M-334.6M-2.3M1.159.10N/AN/A22,20025,630301,507141,944
2014-01-27$27.97$24.0333.7%9.3%45.8%37.9%32.8%0.2%1.1%5.5M-378.4M-2.2M0.6019.53N/AN/A13,8638,318274,929142,943
2014-01-28$28.48$24.0333.5%9.3%45.5%37.5%33.3%0.5%-0.5%5.9M-413.5M-2.3M1.3116.01N/AN/A8,10210,592279,036147,418
2014-01-29$28.81$24.0337.9%9.4%44.9%46.5%32.7%-3.0%1.1%5.2M-426.7M-2.4M0.6111.88N/AN/A31,51919,255281,305154,499
2014-01-30$28.72$24.0335.5%9.4%45.0%41.7%32.7%-2.9%0.4%6.2M-423.4M-2.4M0.9710.05N/AN/A7,7607,562287,780156,423
2014-01-31$27.66$24.0340.4%9.4%47.3%51.8%33.5%-1.9%-0.3%6.7M-345.5M-2.4M0.9813.46N/AN/A10,95010,709289,295155,186