AA Options History — March 2023

In March 2023, AA traded between $39.34 and $55.45. ATM implied volatility averaged 58.3%, placing in the 36.1% IV rank vs the trailing year. The 30-day expected move averaged 17.2%. IV traded below realized volatility by 5.8% (HV 20d: 64.1%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 9 of 23 trading days. Term structure was in contango for 10 of 23 days. Put/call ratio averaged 1.00.

Notable Days

  • 2023-03-15: Highest Volume — 67,680 contracts
  • 2023-03-15: Largest IV spike — 11.6% change
  • 2023-03-17: Highest IV Rank — 59.2%
  • 2023-03-17: Largest Expected Move — 19.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.60$39.34$55.45$51.78$42.36
Max Pain$47.39$45.00$50.00$45.00$45.00
ATM IV58.3%49.7%65.7%51.7%57.0%
Expected Move17.2%14.5%19.3%15.3%16.6%
HV 20d64.1%46.1%76.0%48.2%66.4%
HV 60d56.1%49.9%60.1%51.2%58.4%
IV Rank36.1%8.8%59.2%14.6%32.3%
IV Percentile29.8%5.6%59.1%9.5%19.8%
Term Structure0.3%-1.2%3.3%0.0%0.5%
VWIV60.1%50.7%68.0%54.2%58.6%
Skew 25d5.2%2.9%7.1%3.3%4.9%
Skew 10d10.2%5.4%14.2%6.9%9.4%
Call IV 25d56.3%48.4%62.9%50.5%54.8%
Put IV 25d61.4%51.7%70.0%53.8%59.6%
Bid-Ask Spread %5.642.9913.674.293.21
Gamma HHI0.130.080.200.150.16
Net GEX2.0M-3.6M12.9M12.1M2.4M
Net DEX40.9M-475.8M254.4M-267.4M107.5M
Net VEX-1.7M-2.0M-1.4M-2.0M-1.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.000.392.471.220.70
Total Volume20,366.2617,88367,68030,32710,979
Total OI310,215.348255,357363,012331,737297,808

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$51.78$45.0051.7%15.3%48.2%14.6%54.2%3.3%0.0%12.1M-267.4M-2.0M1.224.29N/AN/A13,63316,694180,600151,137
2023-03-02$53.59$45.0050.7%14.8%46.1%11.9%52.4%3.3%0.1%12.9M-367.5M-2.0M0.594.81N/AN/A11,1586,624182,412154,550
2023-03-03$55.45$45.0049.7%14.5%46.7%8.8%50.7%2.9%-0.1%12.3M-475.8M-2.0M0.573.63N/AN/A19,08310,866182,442156,629
2023-03-06$53.69$50.0049.7%15.2%48.1%9.0%54.2%3.7%0.3%12.1M-291.6M-2.0M0.8613.67N/AN/A7,3666,338164,659147,052
2023-03-07$50.17$50.0051.2%15.6%53.8%13.2%55.4%3.6%0.1%8.0M-104.8M-1.9M0.879.95N/AN/A8,3017,230167,392150,354
2023-03-08$51.02$50.0050.4%15.5%53.5%11.0%53.3%3.4%-0.2%9.8M-147.1M-1.9M0.545.56N/AN/A6,7503,621170,114151,758
2023-03-09$47.72$50.0053.2%16.1%56.4%18.7%56.9%4.0%-0.7%4.1M10.5M-1.8M0.855.95N/AN/A18,22215,548172,783153,586
2023-03-10$44.86$50.0056.0%17.0%59.9%29.2%59.5%3.6%-1.2%-509.6K131.1M-1.7M0.8610.39N/AN/A17,41514,922176,094160,310
2023-03-13$44.85$50.0060.8%18.2%59.4%44.3%62.5%5.0%2.8%875.9K105.2M-1.7M0.628.55N/AN/A10,5986,550167,953157,310
2023-03-14$44.34$50.0057.9%17.4%59.4%35.1%60.3%4.8%3.1%-173.2K133.7M-1.7M0.717.00N/AN/A5,6433,991170,426160,195
2023-03-15$39.36$50.0064.6%18.9%71.5%55.8%65.4%7.1%1.6%-3.2M254.4M-1.4M0.616.25N/AN/A41,91425,766172,974161,745
2023-03-16$40.84$50.0062.7%18.8%73.5%50.0%65.2%6.6%3.3%-3.0M210.6M-1.6M1.177.75N/AN/A8,97810,475182,199170,893
2023-03-17$39.34$50.0065.7%19.3%73.8%59.2%68.0%7.0%2.4%-3.6M252.8M-1.5M2.013.25N/AN/A7,94215,950185,954177,058
2023-03-20$40.09$50.0065.1%19.0%73.5%57.5%64.7%7.1%-0.9%-2.1M162.9M-1.6M0.953.79N/AN/A9,4058,957105,852149,505
2023-03-21$42.19$45.0062.2%18.0%75.3%48.4%62.9%6.5%-0.5%-1.1M117.1M-1.7M0.914.91N/AN/A10,8279,868111,464155,036
2023-03-22$40.52$45.0062.8%18.0%76.0%50.5%63.0%5.9%-1.0%-1.9M157.8M-1.6M2.474.53N/AN/A4,99012,314114,411160,498
2023-03-23$40.29$45.0064.4%18.5%76.0%55.2%64.0%6.9%-0.9%-2.3M167.7M-1.7M1.144.68N/AN/A5,9466,792116,972165,664
2023-03-24$40.05$45.0064.3%18.5%75.1%55.0%63.9%6.2%-1.0%-3.5M177.6M-1.7M1.323.28N/AN/A8,65311,444119,133168,125
2023-03-27$40.09$45.0062.6%18.2%72.6%49.8%63.8%6.6%-0.4%-2.3M170.8M-1.7M0.393.31N/AN/A10,1754,017110,683163,518
2023-03-28$40.30$45.0061.9%18.0%72.0%47.4%62.6%6.0%-0.8%-1.9M162.0M-1.7M2.373.25N/AN/A3,9519,368116,435165,153
2023-03-29$40.94$45.0059.0%17.3%68.9%38.7%60.5%5.6%-0.7%-1.5M151.4M-1.7M0.502.99N/AN/A5,2462,637118,363173,052
2023-03-30$41.86$45.0058.0%17.1%68.0%35.4%60.2%5.3%-0.0%-391.9K122.6M-1.7M0.674.83N/AN/A6,7724,505121,224173,478
2023-03-31$42.36$45.0057.0%16.6%66.4%32.3%58.6%4.9%0.5%2.4M107.5M-1.8M0.703.21N/AN/A6,4574,522122,973174,835