AA Options History — July 2020

In July 2020, AA traded between $10.57 and $13.45. ATM implied volatility averaged 69.3%, placing in the 20.4% IV rank vs the trailing year. The 30-day expected move averaged 19.9%. IV traded below realized volatility by 3.3% (HV 20d: 72.6%). Max pain ranged from $10.00 to $13.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.44.

Notable Days

  • 2020-07-01: Highest Volume — 40,465 contracts
  • 2020-07-16: Largest IV drop — 8.8% change
  • 2020-07-01: Highest IV Rank — 27.9%
  • 2020-07-01: Largest Expected Move — 26.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.32$10.57$13.45$10.95$12.95
Max Pain$11.09$10.00$13.00$13.00$12.00
ATM IV69.3%58.2%82.0%82.0%59.8%
Expected Move19.9%16.2%26.1%26.1%16.8%
HV 20d72.6%57.8%92.4%92.4%58.6%
HV 60d85.9%82.0%87.8%87.8%82.1%
IV Rank20.4%13.5%27.9%27.9%14.4%
IV Percentile69.2%58.3%83.3%83.3%59.5%
Term Structure-0.2%-3.2%2.3%0.7%0.5%
VWIV68.6%57.6%90.3%90.3%58.4%
Skew 25d8.1%5.1%11.1%9.1%7.2%
Skew 10d13.8%0.6%19.8%0.6%6.7%
Call IV 25d66.1%55.2%81.2%81.2%57.3%
Put IV 25d74.2%61.7%90.3%90.3%64.5%
Bid-Ask Spread %8.605.1120.6120.615.74
Gamma HHI0.210.090.690.100.30
Net GEX737.1K129.7K3.3M261.4K1.5M
Net DEX-4.6M-36.8M20.2M12.5M-7.9M
Net VEX-357.2K-400.2K-296.8K-335.3K-357.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.440.081.360.080.20
Total Volume12,755.6363,18040,46540,4657,141
Total OI199,888.227169,049235,193208,019180,093

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$10.95$13.0082.0%26.1%92.4%27.9%90.3%9.1%0.7%261.4K12.5M-335.3K0.0820.61N/AN/A37,4253,040119,56788,452
2020-07-02$10.94$13.0075.3%24.5%89.0%24.0%84.3%7.2%1.1%738.0K10.6M-331.5K0.2117.38N/AN/A14,0412,913135,49989,423
2020-07-06$11.49$10.0075.4%21.7%90.1%24.1%71.2%9.4%0.3%1.1M3.0M-347.2K0.339.33N/AN/A16,0585,243133,98187,258
2020-07-07$11.28$10.0076.6%21.8%85.3%24.7%71.9%9.3%-1.3%686.1K8.5M-332.2K0.159.70N/AN/A7,1591,097128,52287,688
2020-07-08$11.14$10.0077.3%21.4%85.0%25.2%73.4%7.9%-1.8%518.2K12.0M-323.4K0.219.65N/AN/A8,3831,763127,64888,005
2020-07-09$10.57$10.0081.4%22.0%86.1%27.6%74.6%10.8%-3.2%129.7K20.2M-296.8K1.3610.58N/AN/A2,5433,446128,30788,637
2020-07-10$11.32$10.0079.9%22.8%70.6%26.7%73.9%8.9%-1.3%204.2K7.3M-330.4K0.328.25N/AN/A5,6961,823128,56288,047
2020-07-13$11.56$10.0081.4%22.6%63.2%27.5%80.5%10.4%-2.6%244.4K5.2M-334.9K0.3011.11N/AN/A8,0202,400117,88186,130
2020-07-14$12.53$10.0077.9%21.9%69.3%25.5%75.8%8.6%-1.2%557.8K-10.9M-369.3K1.0011.49N/AN/A16,57816,584121,88186,972
2020-07-15$12.65$10.0077.5%21.3%69.3%25.3%74.5%11.1%-2.3%560.7K-11.5M-375.3K0.6011.76N/AN/A15,0809,070127,56796,150
2020-07-16$13.45$11.0070.7%20.5%72.1%21.3%70.5%10.2%-0.1%1.2M-36.8M-400.2K0.427.63N/AN/A20,2968,433134,324100,322
2020-07-17$12.95$11.0064.5%18.4%73.9%17.7%63.0%7.0%-0.5%3.3M-18.3M-378.6K0.365.64N/AN/A12,7774,562133,547101,646
2020-07-20$12.78$11.0064.5%18.5%74.1%17.7%65.4%8.1%0.5%331.2K-7.6M-373.3K0.586.50N/AN/A6,0213,47992,24276,807
2020-07-21$13.20$11.0062.7%17.9%74.5%16.7%62.2%7.3%1.1%470.1K-13.5M-383.9K0.385.11N/AN/A4,9461,90195,14479,133
2020-07-22$13.11$11.0061.7%17.7%74.1%16.1%64.3%7.4%-0.3%561.0K-13.0M-381.5K0.795.76N/AN/A1,9121,51298,24679,830
2020-07-23$12.72$11.5061.2%17.5%67.2%15.8%59.9%5.6%2.3%415.4K-6.3M-363.8K0.555.24N/AN/A5,4242,95999,62879,913
2020-07-24$12.73$12.0059.7%17.0%65.2%15.0%58.2%5.1%1.4%423.6K-6.6M-364.1K0.235.23N/AN/A2,851647101,74781,795
2020-07-27$13.22$12.0059.8%17.0%60.1%14.9%61.4%7.0%0.1%636.9K-12.3M-377.6K0.275.70N/AN/A4,7281,26697,36076,324
2020-07-28$12.99$11.5058.7%16.5%60.6%13.8%57.6%5.2%0.4%656.9K-9.0M-363.9K0.445.33N/AN/A2,20297899,44476,853
2020-07-29$13.26$12.0058.2%16.2%59.8%13.5%57.8%5.6%0.2%823.8K-13.1M-369.5K0.225.34N/AN/A3,153703100,11377,461
2020-07-30$13.22$12.0059.4%16.8%57.8%14.1%59.0%8.9%0.4%902.3K-13.1M-368.1K0.626.05N/AN/A2,7011,670101,72677,666
2020-07-31$12.95$12.0059.8%16.8%58.6%14.4%58.4%7.2%0.5%1.5M-7.9M-357.9K0.205.74N/AN/A5,9421,199101,76478,329