AA Options History — March 2015

In March 2015, AA traded between $30.52 and $36.45. ATM implied volatility averaged 36.0%, placing in the 33.9% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded above realized volatility by 1.5% (HV 20d: 34.4%). Max pain ranged from $33.64 to $37.25. Net GEX was positive for 9 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 0.84.

Notable Days

  • 2015-03-09: Highest Volume — 40,830 contracts
  • 2015-03-04: Largest IV spike — 11.6% change
  • 2015-03-13: Highest IV Rank — 41.3%
  • 2015-03-16: Largest Expected Move — 11.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.53$30.52$36.45$35.95$31.09
Max Pain$35.12$33.64$37.25$37.25$33.64
ATM IV36.0%29.4%39.9%29.8%35.0%
Expected Move10.4%8.5%11.3%8.6%10.4%
HV 20d34.4%29.6%40.8%40.8%29.6%
HV 60d37.7%36.4%39.4%37.9%37.0%
IV Rank33.9%21.5%41.3%22.3%32.0%
IV Percentile80.0%46.4%92.9%50.0%75.8%
Term Structure-0.0%-1.9%3.4%2.0%-0.7%
VWIV36.6%29.4%39.8%30.2%37.6%
Skew 25d3.2%2.4%4.1%2.4%2.8%
Skew 10d6.9%5.1%8.4%6.5%6.9%
Call IV 25d35.2%28.7%39.2%29.4%34.4%
Put IV 25d38.5%31.3%43.0%31.7%37.1%
Bid-Ask Spread %3.272.414.723.253.09
Gamma HHI0.180.130.420.240.15
Net GEX-61.2K-4.3M4.1M2.5M488.5K
Net DEX57.0M-63.9M109.3M-34.0M77.3M
Net VEX-1.6M-1.6M-1.4M-1.5M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.840.352.170.350.94
Total Volume17,218.6367,83140,8309,73314,037
Total OI293,091.318240,177332,639240,177316,362

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-03-02$35.95$37.2529.8%8.6%40.8%22.3%30.2%2.4%2.0%2.5M-34.0M-1.5M0.353.25N/AN/A7,2002,533138,658101,519
2015-03-03$36.45$37.2529.4%8.5%39.9%21.5%29.4%2.7%2.8%4.1M-63.9M-1.5M0.843.22N/AN/A6,3415,337140,951102,077
2015-03-04$35.04$37.2532.8%9.6%39.5%27.9%33.1%2.9%2.1%1.0M937.5K-1.5M0.583.00N/AN/A20,93412,222142,945104,412
2015-03-05$34.56$36.0533.4%10.4%39.6%29.0%35.2%3.1%3.4%637.5K11.8M-1.6M1.624.72N/AN/A12,95620,971153,067110,551
2015-03-06$34.72$36.0533.6%10.2%36.1%29.4%35.0%3.4%2.0%1.0M9.2M-1.6M2.173.47N/AN/A6,45113,990156,386114,830
2015-03-09$32.92$36.0537.3%10.4%38.7%36.3%37.3%4.1%-1.2%-943.4K67.1M-1.4M0.563.25N/AN/A26,14214,688152,084110,995
2015-03-10$32.44$36.0538.6%11.2%34.7%38.9%38.1%3.9%0.0%-724.8K70.2M-1.5M1.063.36N/AN/A10,02510,633167,984118,504
2015-03-11$32.66$36.0538.8%10.7%34.0%39.1%37.7%3.1%-1.4%-433.7K62.6M-1.5M0.592.68N/AN/A7,0524,151173,940122,561
2015-03-12$33.16$36.0537.1%10.5%34.1%36.1%36.1%3.3%-0.4%255.1K39.3M-1.6M0.462.85N/AN/A5,3732,458177,866124,413
2015-03-13$32.61$36.0539.9%11.2%33.6%41.3%39.8%3.8%-1.9%-933.5K54.9M-1.6M1.003.27N/AN/A10,32710,340180,203124,567
2015-03-16$31.94$36.0539.5%11.3%33.3%40.6%39.7%3.9%-1.3%-344.0K79.2M-1.6M1.022.98N/AN/A8,0458,189182,012127,363
2015-03-17$31.38$36.0538.9%11.1%33.4%39.4%39.3%3.4%-0.7%-825.7K100.2M-1.5M0.762.41N/AN/A7,7675,895184,996132,633
2015-03-18$31.91$33.6438.8%11.1%34.3%39.2%39.2%3.1%-1.4%-343.3K79.9M-1.6M0.983.94N/AN/A8,2788,090189,014134,400
2015-03-19$31.14$33.6437.9%10.9%33.8%37.5%38.2%3.6%-0.4%-1.5M108.9M-1.5M0.813.13N/AN/A7,2605,894191,695136,027
2015-03-20$31.17$33.6436.6%10.5%34.1%35.2%36.9%2.6%-0.4%-4.3M106.9M-1.5M0.843.15N/AN/A6,0445,094195,090137,549
2015-03-23$31.24$33.6436.5%10.5%34.2%34.8%37.3%3.1%-1.8%-112.3K73.0M-1.6M0.434.17N/AN/A11,5044,953158,154126,196
2015-03-24$31.46$33.6435.4%10.4%33.6%32.9%36.5%2.9%-0.3%232.7K67.0M-1.6M0.623.02N/AN/A6,8514,272164,072130,442
2015-03-25$31.17$33.6435.3%10.5%30.4%32.6%36.3%2.9%0.2%49.0K74.6M-1.6M0.593.12N/AN/A5,1343,034166,918132,457
2015-03-26$31.00$33.6435.8%10.6%29.9%33.6%37.2%2.9%-0.7%-216.4K83.5M-1.6M1.233.26N/AN/A8,98911,035169,030133,642
2015-03-27$30.52$33.6436.0%10.8%29.6%34.0%37.5%3.3%-0.1%-836.9K109.3M-1.5M0.582.90N/AN/A6,9884,060172,501140,419
2015-03-30$31.17$33.6434.9%10.5%30.6%31.8%36.7%3.9%-0.4%-74.3K75.3M-1.6M0.363.77N/AN/A12,7374,536170,584137,940
2015-03-31$31.09$33.6435.0%10.4%29.6%32.0%37.6%2.8%-0.7%488.5K77.3M-1.6M0.943.09N/AN/A7,2426,795177,325139,037