AA Options History — February 2022

In February 2022, AA traded between $58.11 and $78.07. ATM implied volatility averaged 60.1%, placing in the 41.6% IV rank vs the trailing year. The 30-day expected move averaged 17.3%. IV traded above realized volatility by 1.6% (HV 20d: 58.5%). Max pain ranged from $55.00 to $65.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.75.

Notable Days

2022-02-08: Highest Volume — 93,419 contracts
2022-02-03: Largest IV spike — 7.6% change
2022-02-28: Highest IV Rank — 57.1%
2022-02-28: Largest Expected Move — 19.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$71.06	$58.11	$78.07	$58.11	$75.20
Max Pain	$61.58	$55.00	$65.00	$60.00	$65.00
ATM IV	60.1%	53.7%	64.5%	55.3%	64.5%
Expected Move	17.3%	15.6%	19.0%	16.1%	19.0%
HV 20d	58.5%	52.2%	63.7%	56.2%	54.6%
HV 60d	52.8%	51.4%	54.9%	54.1%	51.4%
IV Rank	41.6%	19.6%	57.1%	25.1%	57.1%
IV Percentile	66.7%	27.8%	88.9%	36.5%	88.9%
Term Structure	-0.1%	-0.9%	1.1%	-0.1%	-0.7%
VWIV	61.4%	53.5%	67.2%	56.6%	67.2%
Skew 25d	2.6%	1.0%	4.4%	4.4%	1.2%
Skew 10d	5.6%	1.6%	10.1%	10.1%	1.6%
Call IV 25d	59.7%	52.7%	64.7%	54.2%	64.7%
Put IV 25d	62.3%	56.3%	66.6%	58.6%	65.8%
Bid-Ask Spread %	7.59	3.84	12.70	4.45	8.37
Gamma HHI	0.13	0.10	0.17	0.11	0.11
Net GEX	12.8M	3.9M	21.4M	3.9M	7.7M
Net DEX	-695.8M	-1.08B	-209.3M	-209.3M	-604.1M
Net VEX	-2.2M	-2.4M	-2.1M	-2.2M	-2.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.75	0.33	1.62	0.63	1.01
Total Volume	41,436.368	15,530	93,419	18,919	34,229
Total OI	344,145.263	302,473	391,663	311,012	311,584

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2022-02-01	$58.11	$60.00	55.3%	16.1%	56.2%	25.1%	56.6%	4.4%	-0.1%	3.9M	-209.3M	-2.2M	0.63	4.45	N/A	N/A	11,621	7,298	155,759	155,253
2022-02-02	$59.33	$60.00	53.7%	15.6%	54.4%	19.6%	53.5%	3.6%	-0.1%	6.0M	-267.0M	-2.2M	0.68	5.37	N/A	N/A	9,257	6,273	158,500	156,840
2022-02-03	$63.19	$60.00	57.8%	16.5%	58.4%	33.8%	59.8%	4.0%	0.4%	11.0M	-452.3M	-2.3M	0.33	8.36	N/A	N/A	37,401	12,313	160,964	157,685
2022-02-04	$64.40	$60.00	57.4%	16.4%	58.7%	32.2%	60.9%	3.7%	1.1%	11.5M	-541.1M	-2.3M	0.65	10.39	N/A	N/A	27,970	18,150	174,377	160,783
2022-02-07	$63.95	$60.00	57.9%	16.6%	55.1%	34.2%	59.2%	4.2%	-0.0%	12.2M	-463.8M	-2.2M	0.55	7.61	N/A	N/A	16,853	9,290	168,502	153,472
2022-02-08	$69.73	$55.00	58.6%	16.9%	62.3%	36.6%	60.3%	2.1%	0.5%	14.6M	-757.2M	-2.2M	0.54	3.84	N/A	N/A	60,593	32,826	177,904	155,310
2022-02-09	$71.97	$60.00	57.2%	16.3%	62.9%	31.6%	56.6%	2.7%	-0.1%	16.9M	-849.1M	-2.2M	0.38	6.61	N/A	N/A	35,455	13,353	191,755	166,762
2022-02-10	$70.75	$60.00	59.4%	17.0%	63.5%	39.4%	59.8%	2.7%	-0.3%	17.0M	-803.6M	-2.4M	0.87	8.63	N/A	N/A	30,088	26,290	203,462	171,834
2022-02-11	$73.36	$60.00	62.8%	17.9%	63.4%	51.1%	63.7%	2.4%	-0.3%	19.6M	-912.9M	-2.4M	0.64	12.70	N/A	N/A	35,495	22,583	203,816	179,648
2022-02-14	$73.93	$60.00	63.4%	18.1%	63.4%	53.2%	64.7%	3.3%	0.4%	16.2M	-881.1M	-2.3M	0.72	10.29	N/A	N/A	16,147	11,576	197,644	172,821
2022-02-15	$73.97	$60.00	59.2%	17.0%	62.2%	38.6%	60.3%	3.0%	0.3%	18.1M	-877.0M	-2.2M	0.94	8.48	N/A	N/A	12,525	11,768	200,853	175,127
2022-02-16	$77.39	$60.00	59.7%	17.1%	63.3%	40.4%	60.7%	1.4%	-0.1%	19.4M	-1.06B	-2.1M	0.56	7.38	N/A	N/A	27,654	15,431	200,248	177,599
2022-02-17	$76.59	$65.00	61.4%	17.6%	63.7%	46.4%	62.9%	1.0%	0.2%	21.4M	-998.0M	-2.2M	1.12	5.36	N/A	N/A	18,106	20,274	206,238	182,764
2022-02-18	$78.07	$65.00	62.2%	17.8%	52.2%	49.0%	64.1%	1.7%	0.1%	15.5M	-1.08B	-2.2M	0.33	7.05	N/A	N/A	30,260	9,908	207,416	184,247
2022-02-22	$74.57	$65.00	62.3%	18.2%	56.7%	49.4%	64.6%	1.4%	-0.9%	7.4M	-593.9M	-2.2M	1.29	7.66	N/A	N/A	15,374	19,894	152,579	149,894
2022-02-23	$74.87	$65.00	63.6%	18.3%	52.9%	53.8%	64.5%	1.8%	-0.7%	6.9M	-599.8M	-2.2M	0.65	7.07	N/A	N/A	16,329	10,657	155,569	159,477
2022-02-24	$73.05	$65.00	63.8%	18.4%	53.9%	54.6%	65.8%	3.1%	-0.6%	7.1M	-530.4M	-2.2M	1.62	8.88	N/A	N/A	21,512	34,889	162,771	160,727
2022-02-25	$77.74	$65.00	61.0%	17.8%	53.7%	44.7%	62.3%	1.7%	-0.8%	11.1M	-737.7M	-2.1M	0.73	5.72	N/A	N/A	27,582	20,067	162,648	165,928
2022-02-28	$75.20	$65.00	64.5%	19.0%	54.6%	57.1%	67.2%	1.2%	-0.7%	7.7M	-604.1M	-2.1M	1.01	8.37	N/A	N/A	17,051	17,178	154,453	157,131