AA Options History — October 2018

In October 2018, AA traded between $33.52 and $43.06. ATM implied volatility averaged 44.6%, placing in the 22.8% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded below realized volatility by 2.4% (HV 20d: 47.0%). Max pain ranged from $40.00 to $42.00. Net GEX was positive for 11 of 23 trading days. Term structure was in contango for 2 of 23 days. Put/call ratio averaged 0.78.

Notable Days

2018-10-03: Highest Volume — 64,515 contracts
2018-10-18: Largest IV drop — 16.1% change
2018-10-11: Highest IV Rank — 32.3%
2018-10-30: Largest Expected Move — 15.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$37.53	$33.52	$43.06	$40.62	$35.19
Max Pain	$40.96	$40.00	$42.00	$41.00	$40.00
ATM IV	44.6%	38.2%	50.5%	41.2%	45.1%
Expected Move	13.1%	11.2%	15.1%	12.6%	14.2%
HV 20d	47.0%	32.0%	59.5%	38.5%	59.4%
HV 60d	46.8%	41.3%	51.6%	47.6%	48.7%
IV Rank	22.8%	12.7%	32.3%	17.5%	23.6%
IV Percentile	89.6%	59.9%	99.6%	84.5%	93.7%
Term Structure	-1.2%	-2.7%	0.4%	-1.0%	-0.3%
VWIV	45.8%	39.0%	52.8%	43.5%	48.3%
Skew 25d	2.9%	0.9%	4.0%	2.7%	3.3%
Skew 10d	6.4%	2.6%	8.8%	6.1%	8.4%
Call IV 25d	43.8%	36.2%	50.9%	39.7%	44.0%
Put IV 25d	46.6%	39.8%	54.1%	42.4%	47.2%
Bid-Ask Spread %	17.50	11.91	24.24	16.59	21.00
Gamma HHI	0.10	0.06	0.25	0.14	0.09
Net GEX	1.1M	-1.9M	8.3M	2.5M	593.2K
Net DEX	58.8M	-60.6M	127.4M	22.6M	53.4M
Net VEX	-660.0K	-797.2K	-541.0K	-671.6K	-725.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.78	0.16	1.84	0.32	0.44
Total Volume	19,633.043	5,838	64,515	13,248	7,526
Total OI	156,819.739	130,946	189,045	140,047	147,427

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-10-01	$40.62	$41.00	41.2%	12.6%	38.5%	17.5%	43.5%	2.7%	-1.0%	2.5M	22.6M	-671.6K	0.32	16.59	N/A	N/A	10,049	3,199	80,842	59,205
2018-10-02	$41.66	$41.00	40.4%	12.7%	38.8%	16.2%	45.2%	2.6%	-1.4%	4.7M	-17.0M	-723.4K	0.45	19.29	N/A	N/A	12,707	5,666	87,533	59,890
2018-10-03	$42.74	$41.00	40.4%	12.9%	39.8%	16.3%	45.5%	1.8%	-1.3%	8.3M	-60.6M	-763.9K	0.35	17.67	N/A	N/A	47,612	16,903	94,404	60,857
2018-10-04	$43.06	$42.00	42.0%	11.5%	32.0%	18.7%	40.3%	2.4%	-1.2%	7.9M	-40.5M	-785.8K	0.16	13.98	N/A	N/A	28,067	4,470	93,068	64,890
2018-10-05	$42.07	$42.00	42.3%	11.6%	32.7%	19.2%	40.7%	2.5%	-1.8%	5.8M	-5.6M	-767.8K	0.40	16.08	N/A	N/A	11,755	4,734	100,658	65,962
2018-10-08	$38.72	$42.00	45.2%	12.4%	43.1%	23.8%	44.7%	1.6%	-1.7%	97.4K	82.9M	-624.2K	1.00	11.91	N/A	N/A	13,766	13,763	89,969	64,814
2018-10-09	$37.68	$42.00	45.7%	12.7%	43.0%	24.6%	44.5%	0.9%	-1.0%	-906.3K	99.2M	-611.1K	0.94	16.08	N/A	N/A	7,894	7,407	96,560	70,032
2018-10-10	$36.14	$42.00	49.0%	13.5%	43.4%	29.9%	47.3%	2.1%	-1.8%	-1.7M	120.1M	-580.7K	1.42	14.61	N/A	N/A	6,147	8,715	98,853	71,219
2018-10-11	$35.78	$42.00	50.5%	14.2%	43.4%	32.3%	48.8%	3.2%	-1.0%	-1.9M	123.1M	-568.3K	1.30	17.04	N/A	N/A	5,204	6,765	99,801	72,266
2018-10-12	$35.77	$42.00	49.5%	13.9%	41.6%	30.7%	48.1%	3.4%	-1.8%	-1.9M	127.4M	-552.0K	0.41	13.63	N/A	N/A	12,508	5,168	100,639	74,094
2018-10-15	$35.51	$42.00	49.1%	13.9%	41.4%	30.0%	48.5%	2.8%	-1.8%	-1.4M	114.0M	-541.0K	0.75	13.09	N/A	N/A	5,683	4,272	99,465	69,680
2018-10-16	$36.24	$42.00	47.9%	13.7%	42.5%	28.2%	47.7%	2.8%	-2.5%	-1.2M	102.9M	-551.2K	1.15	24.24	N/A	N/A	5,273	6,080	95,818	69,661
2018-10-17	$36.43	$41.00	47.8%	13.7%	42.8%	28.0%	47.8%	3.0%	-2.7%	-1.1M	98.9M	-578.3K	0.68	16.57	N/A	N/A	13,266	9,060	97,717	72,484
2018-10-18	$39.00	$40.00	40.1%	11.6%	50.4%	15.8%	41.3%	3.1%	-2.0%	3.0M	32.1M	-621.1K	0.63	18.77	N/A	N/A	25,519	16,146	106,590	76,376
2018-10-19	$38.78	$40.00	38.4%	11.2%	49.6%	13.1%	39.1%	2.9%	-1.7%	4.6M	46.3M	-614.0K	0.94	17.40	N/A	N/A	17,984	16,832	111,590	77,455
2018-10-22	$39.66	$40.00	38.2%	11.2%	48.7%	12.7%	39.0%	3.5%	0.1%	980.6K	4.1M	-797.2K	1.67	16.72	N/A	N/A	6,959	11,606	70,658	60,288
2018-10-23	$37.29	$40.00	40.7%	12.2%	52.9%	16.8%	42.6%	3.5%	-0.5%	-293.5K	47.6M	-748.0K	1.84	17.60	N/A	N/A	6,224	11,463	73,910	61,700
2018-10-24	$34.30	$40.00	44.9%	13.7%	59.4%	23.3%	48.0%	3.9%	-0.8%	-1.2M	88.1M	-652.5K	0.85	17.70	N/A	N/A	6,983	5,916	74,945	62,986
2018-10-25	$34.59	$40.00	44.0%	13.4%	59.5%	22.0%	47.0%	3.3%	0.4%	-1.2M	84.6M	-667.6K	0.70	17.41	N/A	N/A	5,616	3,954	76,259	64,319
2018-10-26	$34.39	$40.00	47.0%	15.1%	59.5%	26.8%	51.8%	3.2%	-0.7%	-810.9K	84.5M	-671.7K	0.35	22.65	N/A	N/A	14,567	5,137	77,365	64,495
2018-10-29	$33.52	$40.00	48.3%	14.9%	59.5%	28.7%	50.9%	3.3%	-0.6%	-260.9K	75.3M	-672.5K	0.47	19.75	N/A	N/A	4,870	2,287	82,075	62,093
2018-10-30	$34.16	$40.00	47.3%	15.1%	59.1%	27.2%	52.8%	4.0%	-0.2%	71.7K	68.8M	-690.7K	0.79	22.77	N/A	N/A	3,260	2,578	84,025	61,917
2018-10-31	$35.19	$40.00	45.1%	14.2%	59.4%	23.6%	48.3%	3.3%	-0.3%	593.2K	53.4M	-725.2K	0.44	21.00	N/A	N/A	5,212	2,314	85,034	62,393