AA Options History — February 2023

In February 2023, AA traded between $46.04 and $54.64. ATM implied volatility averaged 49.9%, placing in the 9.5% IV rank vs the trailing year. The 30-day expected move averaged 14.4%. IV traded above realized volatility by 0.4% (HV 20d: 49.5%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.76.

Notable Days

  • 2023-02-15: Highest Volume — 30,235 contracts
  • 2023-02-06: Largest IV spike — 7.5% change
  • 2023-02-22: Highest IV Rank — 17.0%
  • 2023-02-22: Largest Expected Move — 15.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$49.73$46.04$54.64$54.64$49.14
Max Pain$45.26$45.00$50.00$50.00$45.00
ATM IV49.9%46.6%52.5%46.9%50.7%
Expected Move14.4%13.4%15.3%14.2%14.5%
HV 20d49.5%42.5%58.1%56.1%45.5%
HV 60d53.0%50.3%61.5%61.5%50.3%
IV Rank9.5%0.0%17.0%0.0%11.7%
IV Percentile4.8%0.0%9.1%0.0%7.5%
Term Structure0.4%-0.6%1.9%-0.2%-0.3%
VWIV50.8%47.2%53.6%51.6%51.1%
Skew 25d3.8%3.0%4.9%3.7%3.7%
Skew 10d7.6%5.8%9.4%7.6%6.9%
Call IV 25d48.6%45.5%51.4%45.8%49.2%
Put IV 25d52.4%48.5%54.9%49.5%52.9%
Bid-Ask Spread %5.263.109.687.443.33
Gamma HHI0.130.100.160.130.14
Net GEX5.6M1.1M10.3M10.1M9.0M
Net DEX-117.0M-333.4M38.0M-333.4M-121.8M
Net VEX-1.9M-2.1M-1.8M-2.1M-1.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.141.591.591.12
Total Volume19,26310,35030,23510,35016,055
Total OI317,397.789297,239343,868302,718327,382

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$54.64$50.0046.9%14.2%56.1%0.0%51.6%3.7%-0.2%10.1M-333.4M-2.1M1.597.44N/AN/A3,9996,351155,956146,762
2023-02-02$53.22$45.0048.0%13.9%57.6%3.2%49.5%3.8%-0.0%9.5M-269.6M-2.0M1.215.61N/AN/A9,83411,863156,748149,093
2023-02-03$52.73$45.0046.6%13.4%57.9%0.0%47.7%3.0%-0.1%10.3M-248.1M-2.0M0.675.25N/AN/A9,7886,588161,990157,689
2023-02-06$52.00$45.0050.1%14.8%58.1%9.9%49.2%4.8%1.9%5.8M-196.4M-2.0M0.329.68N/AN/A15,6134,935156,435140,804
2023-02-07$53.17$45.0048.9%14.1%50.6%6.6%49.6%4.0%0.3%7.9M-258.0M-2.0M0.383.10N/AN/A11,4304,338160,504143,226
2023-02-08$50.89$45.0049.9%14.7%50.8%9.6%50.4%3.8%1.4%5.1M-157.1M-2.0M0.823.50N/AN/A5,7364,690169,136145,235
2023-02-09$49.86$45.0051.7%15.1%50.8%14.6%52.4%4.9%1.0%2.8M-101.3M-2.0M1.313.61N/AN/A7,2589,523170,493146,601
2023-02-10$48.56$45.0051.6%14.9%50.5%14.3%51.9%4.0%0.5%1.8M-29.9M-1.9M0.485.53N/AN/A13,8006,671172,388151,076
2023-02-13$48.20$45.0050.9%14.6%48.8%12.2%51.7%4.3%1.0%3.0M-41.4M-1.9M0.714.64N/AN/A10,6747,555166,434142,142
2023-02-14$48.96$45.0048.4%13.9%49.2%5.3%49.4%3.3%0.6%4.1M-71.2M-1.9M1.157.44N/AN/A9,26010,657170,131146,012
2023-02-15$48.45$45.0047.2%13.5%48.8%1.8%47.2%3.3%1.6%3.6M-52.6M-1.9M0.147.89N/AN/A26,5193,716173,963152,723
2023-02-16$48.97$45.0048.7%13.9%42.5%6.1%49.3%3.6%1.0%5.3M-106.6M-2.0M0.584.28N/AN/A11,0976,450185,908153,724
2023-02-17$46.90$45.0050.1%14.4%44.4%10.0%50.2%3.8%-0.1%1.1M8.4M-1.9M1.098.54N/AN/A11,25612,323188,335155,533
2023-02-21$48.36$45.0051.4%15.0%45.9%13.8%53.1%4.4%0.1%5.8M-73.0M-1.9M0.554.47N/AN/A14,0377,730162,971138,972
2023-02-22$48.66$45.0052.5%15.3%44.5%17.0%53.5%3.2%-0.4%6.8M-90.0M-1.9M0.505.45N/AN/A17,6418,877170,225142,817
2023-02-23$47.86$45.0052.4%15.1%44.5%16.7%53.6%3.6%-0.1%5.9M-54.2M-1.9M0.773.42N/AN/A7,5445,816176,140146,839
2023-02-24$46.04$45.0052.0%14.8%46.2%15.4%52.7%3.0%-0.6%2.4M38.0M-1.8M0.623.37N/AN/A17,84811,109177,742149,388
2023-02-27$48.20$45.0050.8%14.6%48.6%11.9%51.5%3.6%-0.0%6.3M-65.1M-1.9M0.393.41N/AN/A12,5444,872173,402145,639
2023-02-28$49.14$45.0050.7%14.5%45.5%11.7%51.1%3.7%-0.3%9.0M-121.8M-1.9M1.123.33N/AN/A7,5898,466179,958147,424