AA Options History — September 2020

In September 2020, AA traded between $11.53 and $15.06. ATM implied volatility averaged 61.9%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 17.8%. IV traded above realized volatility by 21.0% (HV 20d: 40.8%). Max pain ranged from $11.00 to $13.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.38.

Notable Days

  • 2020-09-25: Highest Volume — 28,253 contracts
  • 2020-09-23: Largest IV spike — 10.8% change
  • 2020-09-23: Highest IV Rank — 19.5%
  • 2020-09-30: Largest Expected Move — 19.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.25$11.53$15.06$15.06$11.62
Max Pain$11.19$11.00$13.00$13.00$11.00
ATM IV61.9%54.8%68.6%59.8%67.4%
Expected Move17.8%15.7%19.8%16.3%19.8%
HV 20d40.8%33.2%50.6%50.6%46.1%
HV 60d55.9%52.0%66.2%66.2%53.3%
IV Rank15.6%11.4%19.5%14.3%18.8%
IV Percentile56.3%44.4%63.1%56.0%61.9%
Term Structure0.9%-7.4%11.2%0.3%0.1%
VWIV61.6%54.8%68.0%54.8%67.5%
Skew 25d6.5%2.5%10.4%7.9%7.2%
Skew 10d8.2%-55.8%24.0%11.2%13.6%
Call IV 25d58.5%52.3%64.4%54.8%62.8%
Put IV 25d65.0%58.0%71.5%62.7%70.1%
Bid-Ask Spread %7.274.1719.215.386.70
Gamma HHI0.120.080.220.120.22
Net GEX321.3K-256.0K894.5K894.5K265.1K
Net DEX4.1M-23.8M26.5M-23.8M14.8M
Net VEX-336.9K-405.1K-270.9K-405.1K-323.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.110.910.180.13
Total Volume7,560.0953,09128,2535,2546,555
Total OI178,603.905168,848201,942171,003201,942

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-09-01$15.06$13.0059.8%16.3%50.6%14.3%54.8%7.9%0.3%894.5K-23.8M-405.1K0.185.38N/AN/A4,44580992,02078,983
2020-09-02$14.69$13.0060.5%16.9%45.7%14.7%57.6%10.4%-0.9%803.7K-18.0M-395.6K0.275.43N/AN/A4,6921,25993,62379,416
2020-09-03$14.22$11.0065.5%19.0%46.7%17.7%66.3%7.4%-4.6%488.5K-9.6M-381.7K0.846.89N/AN/A2,7852,34893,77280,021
2020-09-04$14.39$11.0065.4%18.6%46.6%17.6%64.2%5.3%-1.6%427.7K-10.8M-381.1K0.8419.21N/AN/A2,4572,06193,75481,256
2020-09-08$14.36$11.0064.7%19.4%39.7%17.2%66.6%8.1%2.9%485.3K-11.4M-375.8K0.346.14N/AN/A3,4351,16289,33679,740
2020-09-09$14.18$11.0059.3%18.2%37.0%14.1%62.1%5.9%11.2%504.6K-8.0M-366.6K0.916.85N/AN/A2,2522,04890,38480,178
2020-09-10$13.86$11.0060.9%17.6%37.6%15.0%61.0%7.1%2.9%348.8K-1.1M-353.5K0.607.19N/AN/A1,9301,16191,26881,680
2020-09-11$13.97$11.0059.3%16.9%36.2%14.1%58.0%6.4%1.3%341.7K-2.0M-348.4K0.465.41N/AN/A4,6882,15994,39882,045
2020-09-14$14.05$11.0057.3%16.5%36.0%12.9%58.3%5.9%5.9%618.3K-2.5M-346.5K0.235.55N/AN/A3,26474893,13780,924
2020-09-15$13.90$11.0055.0%15.9%35.9%11.6%56.0%3.7%0.9%615.5K-400.3K-337.7K0.228.65N/AN/A8,5261,90794,38281,393
2020-09-16$13.94$11.0054.8%15.7%34.6%11.4%55.4%3.0%7.8%663.4K153.2K-337.6K0.226.89N/AN/A2,74861796,82882,454
2020-09-17$13.47$11.0059.6%17.1%33.2%14.3%59.5%2.5%-1.2%131.7K8.2M-324.2K0.2812.13N/AN/A9,5042,66197,95382,716
2020-09-18$13.38$11.0056.2%16.2%33.2%12.2%55.2%5.2%-2.1%-56.4K10.0M-327.9K0.326.73N/AN/A6,7792,146100,95384,157
2020-09-21$12.26$11.0060.5%17.7%42.1%14.7%63.2%7.1%3.9%-15.5K21.1M-286.1K0.508.64N/AN/A8,2724,11589,30879,540
2020-09-22$12.20$11.0061.9%17.2%38.6%15.6%59.6%8.8%0.7%4.4K21.3M-287.9K0.327.37N/AN/A4,1121,31692,36482,150
2020-09-23$11.62$11.0068.6%18.0%40.8%19.5%63.1%5.1%-7.4%-81.9K26.5M-271.0K0.747.45N/AN/A2,3201,70693,97982,758
2020-09-24$11.69$11.0063.7%18.6%41.1%16.6%63.7%8.3%-5.4%-47.6K25.8M-270.9K0.185.45N/AN/A3,32358395,94682,958
2020-09-25$11.53$11.0066.3%19.3%41.1%18.2%67.8%5.5%-0.3%-256.0K24.6M-281.9K0.115.81N/AN/A25,4332,82097,30983,098
2020-09-28$12.22$11.0064.4%19.1%47.0%17.0%66.1%7.8%3.6%339.3K7.6M-346.0K0.144.17N/AN/A10,0151,433111,66282,374
2020-09-29$11.72$11.0068.0%19.8%47.8%19.2%68.0%8.7%1.2%272.7K13.6M-325.6K0.204.53N/AN/A6,7991,369115,36483,159
2020-09-30$11.62$11.0067.4%19.8%46.1%18.8%67.5%7.2%0.1%265.1K14.8M-323.4K0.136.70N/AN/A5,806749118,40883,534