AA Options History — December 2020

In December 2020, AA traded between $21.62 and $24.04. ATM implied volatility averaged 61.1%, placing in the 15.1% IV rank vs the trailing year. The 30-day expected move averaged 17.5%. IV traded below realized volatility by 0.7% (HV 20d: 61.8%). Max pain ranged from $16.00 to $18.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.60.

Notable Days

  • 2020-12-29: Highest Volume — 44,413 contracts
  • 2020-12-07: Largest IV spike — 6.3% change
  • 2020-12-31: Highest IV Rank — 17.5%
  • 2020-12-21: Largest Expected Move — 19.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.47$21.62$24.04$21.88$23.16
Max Pain$16.30$16.00$18.50$18.50$17.50
ATM IV61.1%55.9%65.2%57.6%65.2%
Expected Move17.5%16.0%19.7%16.9%16.0%
HV 20d61.8%54.2%66.4%60.7%54.2%
HV 60d58.9%56.8%62.8%57.7%56.8%
IV Rank15.1%12.0%17.5%13.1%17.5%
IV Percentile46.1%31.3%55.6%36.1%55.6%
Term Structure0.3%-4.5%3.7%-1.2%-1.1%
VWIV62.7%56.4%72.3%61.1%56.4%
Skew 25d3.7%-4.0%6.5%6.5%3.1%
Skew 10d10.2%2.3%38.7%13.1%10.8%
Call IV 25d60.8%53.8%68.4%55.4%65.0%
Put IV 25d64.5%57.8%69.8%61.9%68.1%
Bid-Ask Spread %5.433.0911.136.656.22
Gamma HHI0.180.090.290.090.29
Net GEX2.0M877.6K3.4M877.6K3.4M
Net DEX-166.5M-215.8M-137.5M-141.1M-195.3M
Net VEX-526.5K-568.3K-463.5K-463.5K-519.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.600.143.000.200.37
Total Volume14,138.9552,70144,41334,9466,609
Total OI240,134.364200,789257,051200,789257,051

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$21.88$18.5057.6%16.9%60.7%13.1%61.1%6.5%-1.2%877.6K-141.1M-463.5K0.206.65N/AN/A29,1925,754108,88391,906
2020-12-02$22.39$18.5057.7%17.1%60.6%13.1%72.3%5.3%1.2%1.4M-171.5M-525.0K3.005.38N/AN/A6,36219,112126,50795,526
2020-12-03$22.01$16.0055.9%16.6%57.4%12.0%58.5%5.6%1.9%1.3M-160.9M-547.0K0.174.58N/AN/A22,2183,670128,896100,895
2020-12-04$23.85$16.0056.6%17.6%59.2%12.5%61.2%3.4%0.8%1.5M-206.6M-524.3K0.863.62N/AN/A12,11210,405128,685102,024
2020-12-07$23.24$16.0060.1%18.0%62.0%14.6%62.9%5.6%2.9%1.3M-179.3M-538.8K0.147.60N/AN/A17,2682,488126,638101,032
2020-12-08$23.29$16.0059.2%18.0%57.1%14.0%62.1%4.6%3.1%1.9M-191.1M-568.3K0.316.21N/AN/A6,2831,924139,448102,360
2020-12-09$22.62$16.0060.4%17.8%59.6%14.7%62.2%4.6%1.8%1.7M-171.6M-567.3K0.186.36N/AN/A6,1691,087140,425103,356
2020-12-10$24.04$16.0059.8%17.5%60.2%14.4%64.2%5.9%2.0%2.4M-215.8M-546.2K0.303.83N/AN/A10,3733,120140,757103,715
2020-12-11$22.80$16.0059.3%17.7%64.8%14.0%62.7%3.9%3.7%1.6M-178.4M-551.2K0.354.75N/AN/A7,5022,655143,604104,267
2020-12-14$21.76$16.0060.3%17.4%66.4%14.7%63.8%4.8%-1.5%1.7M-148.7M-534.4K0.503.09N/AN/A7,5833,787143,675101,712
2020-12-15$22.20$16.0062.5%18.1%64.7%15.9%65.6%2.0%0.1%2.0M-162.2M-526.0K1.463.83N/AN/A3,5325,146144,283102,514
2020-12-16$21.62$16.0062.4%17.9%65.4%15.8%64.1%4.5%-3.9%1.7M-140.7M-526.7K0.744.00N/AN/A8,2326,122144,768102,869
2020-12-17$22.07$16.0062.3%17.6%65.5%15.8%63.1%2.3%-4.5%2.2M-158.4M-532.9K0.394.01N/AN/A7,6242,974148,740105,606
2020-12-18$21.94$16.0062.4%17.6%65.4%15.9%64.3%2.6%3.0%2.2M-156.3M-525.5K0.483.34N/AN/A6,0092,855150,759104,785
2020-12-21$22.12$16.0064.1%19.7%65.4%16.8%68.5%2.6%2.2%2.0M-151.3M-528.3K1.337.78N/AN/A3,0934,115141,08992,670
2020-12-22$21.70$16.0062.5%17.9%64.1%15.9%63.1%2.8%-1.1%1.9M-137.5M-519.5K0.315.61N/AN/A5,9441,849142,16395,809
2020-12-23$22.37$16.0063.7%17.7%63.2%16.6%62.7%-4.0%-1.7%2.5M-160.5M-525.6K0.214.70N/AN/A3,641764144,31296,955
2020-12-24$21.87$16.0061.0%17.4%63.4%15.1%61.2%5.6%0.5%2.3M-145.2M-514.0K0.394.96N/AN/A1,949752145,48697,223
2020-12-28$22.20$16.0062.6%17.3%63.5%16.0%62.0%3.0%-0.1%2.3M-153.2M-493.4K0.666.51N/AN/A5,2593,467141,45495,411
2020-12-29$22.12$16.0064.0%16.8%62.7%16.8%59.9%3.1%-1.0%2.4M-149.3M-487.2K0.6411.13N/AN/A27,13417,279143,45396,897
2020-12-30$23.01$16.0065.2%16.2%54.7%17.5%57.3%3.7%-1.2%3.3M-187.9M-518.6K0.235.37N/AN/A6,2361,408151,448102,900
2020-12-31$23.16$17.5065.2%16.0%54.2%17.5%56.4%3.1%-1.1%3.4M-195.3M-519.7K0.376.22N/AN/A4,8401,769153,430103,621