AA Options History — March 2021

In March 2021, AA traded between $26.05 and $32.92. ATM implied volatility averaged 66.9%, placing in the 12.8% IV rank vs the trailing year. The 30-day expected move averaged 19.2%. IV traded below realized volatility by 16.2% (HV 20d: 83.1%). Max pain ranged from $19.00 to $24.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 0.42.

Notable Days

  • 2021-03-03: Highest Volume — 103,114 contracts
  • 2021-03-26: Largest IV spike — 10.0% change
  • 2021-03-29: Highest IV Rank — 37.4%
  • 2021-03-29: Largest Expected Move — 22.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.36$26.05$32.92$26.05$32.69
Max Pain$20.17$19.00$24.00$23.00$21.00
ATM IV66.9%62.1%76.8%64.1%66.4%
Expected Move19.2%16.9%22.3%18.7%20.6%
HV 20d83.1%64.4%91.6%64.4%76.0%
HV 60d70.5%64.2%75.6%64.2%75.6%
IV Rank12.8%6.5%37.4%8.2%21.6%
IV Percentile55.6%36.1%82.1%45.6%58.7%
Term Structure0.0%-9.9%8.0%-4.2%-1.1%
VWIV68.2%60.4%78.5%65.3%71.9%
Skew 25d1.0%-4.8%8.3%1.0%-4.8%
Skew 10d-2.1%-35.6%12.5%-0.2%-3.0%
Call IV 25d69.2%63.8%79.0%65.4%72.5%
Put IV 25d70.2%63.2%83.6%66.4%67.7%
Bid-Ask Spread %21.306.7748.3112.087.58
Gamma HHI0.160.120.220.120.19
Net GEX5.7M4.0M7.5M4.3M6.5M
Net DEX-380.9M-486.2M-213.6M-243.5M-421.1M
Net VEX-964.0K-1.1M-833.8K-833.8K-1.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.420.081.670.140.81
Total Volume29,525.52211,329103,11442,56416,002
Total OI288,958.565243,939315,211243,939292,149

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$26.05$23.0064.1%18.7%64.4%8.2%65.3%1.0%-4.2%4.3M-243.5M-833.8K0.1412.08N/AN/A37,3105,254169,95573,984
2021-03-02$27.62$23.0065.0%18.7%65.0%8.8%66.4%2.1%-1.9%6.4M-319.4M-869.0K0.4510.83N/AN/A16,9487,687186,05177,970
2021-03-03$31.12$24.0070.2%20.1%74.1%12.1%71.9%0.4%-4.4%4.4M-445.6M-856.6K0.1635.23N/AN/A89,04814,066186,93282,053
2021-03-04$28.80$19.0072.3%20.8%82.2%13.5%72.3%8.3%1.5%6.2M-370.9M-1.0M0.2946.36N/AN/A33,1739,558215,90187,538
2021-03-05$28.95$19.0070.5%19.8%82.3%12.3%70.1%3.6%-3.5%5.4M-386.5M-1.0M0.3640.30N/AN/A20,3027,343220,91988,915
2021-03-08$28.66$19.0067.7%20.8%82.8%10.5%71.6%2.8%8.0%5.3M-332.6M-981.2K0.3848.31N/AN/A8,6683,302202,29484,887
2021-03-09$29.91$19.0065.0%19.0%82.8%8.8%67.3%-0.0%1.4%5.7M-382.4M-980.2K0.2220.52N/AN/A9,9742,165203,99186,524
2021-03-10$32.14$19.0065.2%18.9%84.9%8.9%67.1%-0.4%0.5%5.6M-480.1M-929.2K0.2011.42N/AN/A27,2285,322205,39187,138
2021-03-11$32.39$19.0063.2%18.3%84.2%7.6%65.8%-0.8%1.5%6.1M-486.2M-951.9K0.2825.20N/AN/A12,8633,659208,05889,484
2021-03-12$31.51$19.0064.3%18.5%85.4%8.4%65.0%-0.3%0.2%5.5M-444.6M-952.5K0.5914.74N/AN/A10,4156,117208,65391,410
2021-03-15$31.01$19.0063.4%18.2%86.2%7.8%65.2%-0.4%1.0%6.1M-420.2M-934.0K0.3711.08N/AN/A8,2513,078204,83386,983
2021-03-16$29.40$19.0062.9%18.1%89.1%7.4%65.9%-1.4%5.7%6.0M-351.5M-932.6K0.1013.92N/AN/A34,7563,538205,67789,077
2021-03-17$31.40$19.0062.1%17.8%89.9%6.5%63.6%-1.3%3.5%7.3M-450.1M-989.5K0.0838.32N/AN/A36,3772,743219,34690,174
2021-03-18$31.17$19.0066.1%18.8%87.9%9.1%67.7%0.4%2.8%7.5M-443.2M-983.3K0.3914.32N/AN/A23,5989,160223,87491,337
2021-03-19$31.17$19.0065.0%18.0%84.5%8.4%63.4%0.2%5.5%6.2M-428.8M-975.5K0.4813.28N/AN/A17,5408,503219,08594,556
2021-03-22$30.58$20.0064.7%16.9%82.6%8.2%60.4%2.1%-1.0%5.4M-325.6M-945.7K0.718.95N/AN/A11,8568,444187,04168,589
2021-03-23$27.63$20.0067.3%18.0%91.6%9.9%66.4%5.7%-3.1%4.0M-213.6M-916.0K0.3442.73N/AN/A28,8519,951193,61875,372
2021-03-24$28.84$21.0066.0%17.0%88.1%9.1%61.9%-1.1%-0.9%4.6M-263.3M-959.3K0.3426.66N/AN/A20,7617,024201,51280,973
2021-03-25$29.68$21.0067.3%19.4%85.0%9.9%68.7%7.3%4.5%5.0M-300.8M-994.3K0.4722.27N/AN/A13,9256,531203,59284,003
2021-03-26$32.47$21.0074.0%22.0%88.6%33.1%77.6%-3.8%-3.4%5.7M-435.0M-1.0M0.286.77N/AN/A35,0669,890208,89185,771
2021-03-29$32.07$21.0076.8%22.3%88.1%37.4%78.5%3.4%-9.9%5.3M-389.7M-1.1M0.5010.36N/AN/A12,5816,349204,15383,923
2021-03-30$32.92$21.0069.8%21.3%86.4%26.7%74.7%0.0%-2.4%5.9M-426.8M-1.0M1.678.67N/AN/A5,2118,699206,34387,127
2021-03-31$32.69$21.0066.4%20.6%76.0%21.6%71.9%-4.8%-1.1%6.5M-421.1M-1.0M0.817.58N/AN/A8,8257,177207,55484,595