AA Options History — February 2020

In February 2020, AA traded between $13.61 and $16.71. ATM implied volatility averaged 49.3%, placing in the 62.5% IV rank vs the trailing year. The 30-day expected move averaged 14.3%. IV traded below realized volatility by 4.8% (HV 20d: 54.1%). Max pain ranged from $15.00 to $16.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.52.

Notable Days

  • 2020-02-05: Highest Volume — 60,480 contracts
  • 2020-02-28: Largest IV spike — 21.5% change
  • 2020-02-26: Highest IV Rank — 100.0%
  • 2020-02-28: Largest Expected Move — 24.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.29$13.61$16.71$14.24$13.64
Max Pain$15.84$15.00$16.00$16.00$15.00
ATM IV49.3%42.4%79.0%44.3%79.0%
Expected Move14.3%12.2%24.3%13.2%24.3%
HV 20d54.1%45.0%62.8%51.7%51.6%
HV 60d44.4%40.3%47.6%40.3%47.6%
IV Rank62.5%38.9%100.0%47.8%100.0%
IV Percentile76.5%49.6%100.0%66.7%100.0%
Term Structure-0.6%-4.3%1.4%0.5%-4.3%
VWIV49.6%41.7%87.0%44.9%87.0%
Skew 25d3.7%-0.4%7.8%5.3%7.8%
Skew 10d8.3%-4.5%28.0%20.9%28.0%
Call IV 25d47.7%40.8%77.3%42.8%77.3%
Put IV 25d51.4%43.1%85.0%48.1%85.0%
Bid-Ask Spread %17.768.0329.1425.3127.00
Gamma HHI0.190.110.520.110.11
Net GEX1.4M-199.4K4.3M-199.4K148.3K
Net DEX21.1M-22.5M55.9M55.9M47.7M
Net VEX-474.1K-535.5K-341.9K-341.9K-436.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.520.091.630.391.19
Total Volume13,724.0533,01060,48013,10511,977
Total OI192,682.421150,675216,115150,675191,696

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-02-03$14.24$16.0044.3%13.2%51.7%47.8%44.9%5.3%0.5%-199.4K55.9M-341.9K0.3925.31N/AN/A9,4003,70573,72276,953
2020-02-04$14.69$15.5042.8%12.3%54.8%40.8%42.8%2.1%0.1%240.6K46.6M-390.2K0.128.03N/AN/A19,9322,30180,26080,539
2020-02-05$15.78$15.5045.9%13.1%62.4%55.1%46.2%4.2%0.9%444.2K17.0M-483.5K0.0929.14N/AN/A55,6024,87890,36181,042
2020-02-06$15.93$16.0046.0%12.8%62.3%55.5%45.0%5.7%0.2%1.8M-1.5M-528.4K0.2316.97N/AN/A8,1331,907115,54682,491
2020-02-07$15.48$16.0045.4%13.0%61.9%52.9%44.3%3.4%0.0%1.8M11.1M-502.6K0.2322.08N/AN/A6,0461,374116,47083,726
2020-02-10$15.34$16.0045.1%13.2%61.9%51.6%44.3%2.8%1.1%1.5M22.9M-480.4K0.1810.73N/AN/A10,9001,973109,81982,347
2020-02-11$15.73$16.0048.0%13.5%62.8%64.7%46.4%-0.4%-0.9%1.7M9.5M-507.7K0.1815.86N/AN/A24,5274,447110,30883,445
2020-02-12$15.77$16.0044.5%12.6%60.1%48.7%44.0%1.1%-0.6%2.3M6.6M-522.2K0.7519.45N/AN/A5,0783,798123,33586,152
2020-02-13$15.73$16.0045.6%12.7%60.2%53.8%43.2%0.8%-1.0%2.4M10.6M-517.3K0.4516.94N/AN/A2,079931123,99189,160
2020-02-14$15.66$16.0043.2%12.3%45.0%42.8%42.9%1.8%-0.9%2.4M12.3M-505.5K0.2818.40N/AN/A3,267910124,36289,347
2020-02-18$15.86$16.0044.5%12.8%45.5%48.5%43.8%2.2%-0.9%2.4M8.6M-498.3K0.2615.39N/AN/A3,153805119,32487,099
2020-02-19$16.71$16.0042.4%12.2%48.7%38.9%41.7%4.8%1.4%2.9M-22.5M-535.5K0.4813.81N/AN/A11,9205,702120,73487,331
2020-02-20$16.14$16.0044.7%12.9%48.9%49.5%43.8%1.9%-1.3%3.0M-694.8K-520.6K0.4914.74N/AN/A3,1851,545124,74191,374
2020-02-21$16.11$16.0046.2%13.3%48.6%56.6%48.6%4.5%-1.4%4.3M-4.4M-516.2K1.6314.44N/AN/A3,2525,293125,20090,197
2020-02-24$15.36$16.0051.7%15.1%48.2%81.9%51.7%6.5%-1.5%250.1K31.8M-479.7K1.0515.70N/AN/A4,5134,75793,67381,645
2020-02-25$14.53$16.0055.2%16.4%49.8%98.1%56.7%5.0%-0.1%-74.4K45.8M-423.5K0.8318.57N/AN/A3,8533,21595,24382,136
2020-02-26$14.16$16.0056.5%17.0%50.6%100.0%58.2%4.3%-0.2%-111.9K49.8M-413.2K0.2817.57N/AN/A14,1984,00397,01282,918
2020-02-27$13.61$15.0065.0%19.9%52.1%100.0%67.8%5.6%-2.7%25.3K53.3M-404.3K0.8617.34N/AN/A4,4183,780101,56585,702
2020-02-28$13.64$15.0079.0%24.3%51.6%100.0%87.0%7.8%-4.3%148.3K47.7M-436.6K1.1927.00N/AN/A5,4596,518103,87287,824