AA Options History — May 2023

In May 2023, AA traded between $31.89 and $37.20. ATM implied volatility averaged 48.6%, placing in the 10.0% IV rank vs the trailing year. The 30-day expected move averaged 14.3%. IV traded above realized volatility by 3.7% (HV 20d: 44.9%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 5 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 1.07.

Notable Days

  • 2023-05-04: Highest Volume — 37,745 contracts
  • 2023-05-02: Largest IV spike — 6.1% change
  • 2023-05-04: Highest IV Rank — 17.1%
  • 2023-05-31: Largest Expected Move — 15.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.47$31.89$37.20$37.20$31.89
Max Pain$40.23$40.00$45.00$40.00$40.00
ATM IV48.6%46.3%51.0%46.3%50.6%
Expected Move14.3%13.4%15.5%13.4%15.5%
HV 20d44.9%38.4%49.9%44.4%38.4%
HV 60d53.8%50.8%55.4%53.5%50.8%
IV Rank10.0%3.1%17.1%3.1%16.1%
IV Percentile7.2%0.8%18.7%0.8%18.7%
Term Structure0.0%-2.9%2.5%0.1%-0.4%
VWIV49.8%45.4%54.1%48.2%54.0%
Skew 25d4.7%4.0%5.7%4.8%5.1%
Skew 10d8.6%6.5%10.2%8.2%10.2%
Call IV 25d46.9%44.4%49.1%44.8%49.1%
Put IV 25d51.7%48.8%54.2%49.6%54.2%
Bid-Ask Spread %3.521.775.643.452.84
Gamma HHI0.130.100.160.110.14
Net GEX-1.6M-4.8M2.0M-601.0K-3.9M
Net DEX183.0M121.9M257.2M175.7M210.6M
Net VEX-1.4M-1.5M-1.2M-1.4M-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.070.212.130.821.25
Total Volume16,529.510,51137,74518,48324,124
Total OI304,283.5257,449337,987301,113276,460

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$37.20$40.0046.3%13.4%44.4%3.1%48.2%4.8%0.1%-601.0K175.7M-1.4M0.823.45N/AN/A10,1348,349134,506166,607
2023-05-02$35.70$40.0049.1%14.3%46.1%11.5%51.3%5.3%0.7%-2.6M219.9M-1.4M1.454.47N/AN/A7,34110,640139,071170,412
2023-05-03$34.98$40.0049.7%14.6%44.8%13.3%51.0%4.9%0.1%-3.8M238.6M-1.4M0.214.58N/AN/A10,5792,256141,278175,642
2023-05-04$34.25$45.0051.0%15.0%44.7%17.1%51.5%5.2%0.9%-4.8M257.2M-1.3M0.234.46N/AN/A30,7546,991144,528176,197
2023-05-05$36.20$40.0048.0%14.6%49.9%8.3%50.3%4.0%1.3%1.1M188.2M-1.5M0.614.94N/AN/A13,8908,542155,571178,246
2023-05-08$36.78$40.0048.3%14.7%49.7%9.1%50.8%4.5%2.5%-305.3K165.8M-1.5M0.895.64N/AN/A7,2816,486142,231167,571
2023-05-09$36.64$40.0048.4%14.5%48.4%9.6%51.7%4.4%2.1%-247.4K173.8M-1.5M2.134.91N/AN/A3,5067,475145,023171,373
2023-05-10$36.16$40.0048.8%14.5%48.1%10.6%49.3%4.5%1.6%-1.0M194.7M-1.4M0.532.10N/AN/A8,3254,404146,372177,120
2023-05-11$35.22$40.0048.6%14.3%46.5%10.2%50.0%4.5%1.4%-2.0M221.2M-1.4M1.135.24N/AN/A6,0386,851151,029179,048
2023-05-12$35.34$40.0048.2%13.9%46.5%8.9%48.9%4.2%0.5%-1.9M216.3M-1.4M0.723.95N/AN/A6,1214,390154,570183,417
2023-05-15$36.86$40.0048.0%14.0%49.5%8.2%47.3%4.1%-1.9%371.8K166.0M-1.4M0.641.77N/AN/A9,5856,114143,433172,600
2023-05-16$36.16$40.0048.8%14.1%47.7%10.8%48.5%4.7%-1.9%-118.8K173.3M-1.4M1.472.63N/AN/A5,5748,196147,062170,296
2023-05-17$36.65$40.0048.7%14.0%48.1%10.3%45.4%5.0%-2.9%1.1M138.5M-1.4M1.732.58N/AN/A6,42911,122150,082169,743
2023-05-18$36.89$40.0048.2%13.9%47.7%8.8%48.0%4.9%-2.3%2.0M121.9M-1.4M0.772.81N/AN/A8,7916,730153,762169,959
2023-05-19$36.19$40.0047.3%13.8%44.2%6.1%47.5%5.7%-2.1%1.2M146.9M-1.4M1.091.92N/AN/A5,3895,877157,481173,648
2023-05-22$36.41$40.0046.3%13.5%44.3%3.2%46.8%4.4%0.2%-1.4M128.6M-1.4M1.043.06N/AN/A6,4906,769104,762152,687
2023-05-23$35.85$40.0046.6%13.7%38.9%4.2%48.2%4.9%0.4%-2.0M146.0M-1.3M1.053.05N/AN/A5,2135,495108,040156,939
2023-05-24$34.37$40.0049.3%14.2%41.4%12.1%48.3%4.5%-0.1%-3.8M183.5M-1.3M1.783.02N/AN/A6,42011,410109,506160,176
2023-05-25$33.88$40.0049.4%14.5%40.0%12.3%54.1%4.8%0.5%-4.3M182.1M-1.3M1.593.26N/AN/A6,71610,663111,154158,680
2023-05-26$33.81$40.0048.7%14.5%38.8%10.5%50.3%4.8%0.6%-4.2M184.1M-1.3M1.202.70N/AN/A6,8138,205113,317166,466
2023-05-30$32.87$40.0050.6%15.1%39.5%16.0%53.6%5.1%-0.6%-3.8M194.4M-1.2M1.184.11N/AN/A9,72611,445108,198159,974
2023-05-31$31.89$40.0050.6%15.5%38.4%16.1%54.0%5.1%-0.4%-3.9M210.6M-1.2M1.252.84N/AN/A10,69913,425112,159164,301