AA Options History — April 2018

In April 2018, AA traded between $44.40 and $60.23. ATM implied volatility averaged 44.1%, placing in the 45.7% IV rank vs the trailing year. The 30-day expected move averaged 14.0%. IV traded below realized volatility by 5.6% (HV 20d: 49.7%). Max pain ranged from $46.00 to $55.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 0.72.

Notable Days

  • 2018-04-19: Highest Volume — 64,581 contracts
  • 2018-04-17: Largest IV spike — 126.3% change
  • 2018-04-17: Highest IV Rank — 100.0%
  • 2018-04-17: Largest Expected Move — 28.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$52.51$44.40$60.23$44.40$51.31
Max Pain$50.14$46.00$55.00$47.00$55.00
ATM IV44.1%38.5%93.3%43.2%40.5%
Expected Move14.0%11.1%28.1%14.2%12.1%
HV 20d49.7%36.3%68.6%37.1%68.3%
HV 60d41.7%36.3%49.6%36.3%49.6%
IV Rank45.7%13.7%100.0%66.3%16.8%
IV Percentile83.1%66.7%100.0%87.3%79.8%
Term Structure-1.2%-22.7%8.3%-0.7%-0.3%
VWIV43.4%39.2%48.7%48.7%47.5%
Skew 25d12.9%-0.2%97.2%4.7%0.5%
Skew 10d13.3%2.9%115.4%10.6%4.5%
Call IV 25d41.5%38.3%45.3%41.4%40.9%
Put IV 25d54.4%41.0%138.5%46.1%41.4%
Bid-Ask Spread %27.4215.9445.5820.3621.28
Gamma HHI0.170.080.710.080.13
Net GEX5.2M380.1K20.8M753.1K2.5M
Net DEX-137.4M-400.0M17.0M2.1M-11.5M
Net VEX-704.2K-890.6K-558.7K-558.7K-868.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.720.291.530.840.34
Total Volume25,597.7626,04564,5816,04524,138
Total OI127,392.85789,632182,28489,632142,951

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-04-02$44.40$47.0043.2%14.2%37.1%66.3%48.7%4.7%-0.7%753.1K2.1M-558.7K0.8420.36N/AN/A3,2912,75450,09939,533
2018-04-03$45.32$47.0042.7%13.8%37.9%64.2%48.4%3.9%-1.4%1.4M-13.4M-579.0K0.6921.63N/AN/A4,5093,09751,26040,028
2018-04-04$47.02$47.0041.0%13.0%38.9%55.4%47.3%3.8%-1.4%2.5M-42.9M-588.7K0.8117.56N/AN/A3,8933,15551,42140,251
2018-04-05$47.67$46.0040.0%11.1%38.7%50.5%40.8%3.2%-1.0%3.0M-56.8M-583.2K0.6919.86N/AN/A5,3853,69452,16040,417
2018-04-06$48.25$46.0042.4%11.8%38.7%62.8%42.8%3.9%-1.1%2.8M-69.3M-604.2K0.2937.56N/AN/A13,7774,00152,53840,815
2018-04-09$50.81$46.0045.4%14.9%42.6%77.4%44.6%4.1%-22.7%4.8M-146.0M-605.5K0.4724.56N/AN/A12,9776,13060,55139,924
2018-04-10$54.31$47.0045.6%23.3%48.2%78.4%45.3%2.9%4.2%4.4M-225.9M-587.3K0.7226.44N/AN/A13,4339,62165,95642,127
2018-04-11$54.16$47.0045.1%23.7%48.3%75.9%42.2%2.4%8.3%3.8M-221.0M-606.6K0.5345.58N/AN/A10,0435,34768,21145,008
2018-04-12$54.57$48.0042.8%11.8%44.7%64.7%44.2%3.3%1.3%6.5M-249.9M-610.6K0.5336.83N/AN/A11,2075,93773,83046,223
2018-04-13$54.89$48.0041.7%11.7%44.7%59.0%41.7%3.2%2.6%20.8M-265.3M-664.1K1.1438.03N/AN/A5,1155,84979,61047,515
2018-04-16$54.98$49.0041.2%11.7%44.8%56.7%41.7%-0.2%-3.8%3.6M-180.3M-644.5K0.5732.10N/AN/A20,84011,88160,80644,739
2018-04-17$57.24$50.0093.3%28.1%45.2%100.0%41.1%97.2%1.9%6.7M-262.9M-691.3K0.4432.57N/AN/A21,2319,38876,35349,665
2018-04-18$59.42$50.0043.1%12.3%46.0%20.9%45.3%32.8%-2.9%9.2M-358.6M-758.6K0.5335.98N/AN/A34,95218,58791,47854,603
2018-04-19$60.23$50.0038.7%11.1%45.4%14.0%39.2%85.5%-1.3%16.3M-400.0M-759.9K0.9433.68N/AN/A33,22831,353101,58560,536
2018-04-20$59.69$55.0040.4%11.6%36.3%16.6%42.0%4.6%-3.1%14.5M-323.7M-872.8K0.4233.88N/AN/A34,45214,311107,53374,751
2018-04-23$51.56$55.0042.5%12.2%67.5%20.1%43.8%3.7%-0.9%1.8M-7.5M-799.7K1.2215.94N/AN/A17,24720,97889,74546,246
2018-04-24$50.75$55.0039.9%11.5%67.7%15.8%40.4%3.1%-0.6%380.1K17.0M-789.4K1.5318.31N/AN/A10,63316,24795,22556,846
2018-04-25$51.65$55.0038.5%11.1%67.1%13.7%39.8%2.7%-0.9%1.1M-11.3M-848.5K0.9519.17N/AN/A8,8578,42299,62661,989
2018-04-26$53.04$55.0040.1%11.4%67.2%16.2%42.6%2.5%-1.2%2.4M-51.0M-890.6K0.3018.62N/AN/A34,09510,147100,60563,967
2018-04-27$51.48$55.0039.2%11.5%68.6%14.8%43.1%2.7%-1.1%727.4K-7.5M-876.2K1.0725.84N/AN/A11,26912,082102,01066,514
2018-04-30$51.31$55.0040.5%12.1%68.3%16.8%47.5%0.5%-0.3%2.5M-11.5M-868.6K0.3421.28N/AN/A17,9606,17883,29659,655