AA Options History — July 2023

In July 2023, AA traded between $32.47 and $36.69. ATM implied volatility averaged 48.0%, placing in the 12.7% IV rank vs the trailing year. The 30-day expected move averaged 13.8%. IV traded above realized volatility by 0.9% (HV 20d: 47.1%). Max pain ranged from $35.00 to $35.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 0.60.

Notable Days

  • 2023-07-25: Highest Volume — 57,023 contracts
  • 2023-07-20: Largest IV drop — 13.0% change
  • 2023-07-14: Highest IV Rank — 22.0%
  • 2023-07-05: Largest Expected Move — 15.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.54$32.47$36.69$34.39$36.25
Max Pain$35.00$35.00$35.00$35.00$35.00
ATM IV48.0%42.4%51.8%47.8%44.4%
Expected Move13.8%12.1%15.3%14.4%12.9%
HV 20d47.1%37.7%54.9%39.6%54.9%
HV 60d45.4%43.4%46.9%43.4%46.9%
IV Rank12.7%0.0%22.0%10.6%5.6%
IV Percentile16.8%0.0%34.5%9.5%1.6%
Term Structure-0.6%-2.0%0.6%-0.2%-0.4%
VWIV48.7%43.1%56.0%51.4%45.6%
Skew 25d2.3%0.7%3.8%3.3%1.0%
Skew 10d5.1%1.8%7.7%6.2%3.0%
Call IV 25d47.7%42.5%51.8%46.7%44.9%
Put IV 25d50.0%43.7%54.1%49.9%46.0%
Bid-Ask Spread %3.211.875.053.773.38
Gamma HHI0.150.110.360.140.16
Net GEX551.3K-4.3M9.0M-1.1M3.1M
Net DEX89.2M-12.8M196.2M103.1M17.0M
Net VEX-1.4M-1.5M-1.3M-1.4M-1.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.600.201.330.710.37
Total Volume26,633.18,67457,0238,67433,830
Total OI306,455.1268,927364,387273,209293,798

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$34.39$35.0047.8%14.4%39.6%10.6%51.4%3.3%-0.2%-1.1M103.1M-1.4M0.713.77N/AN/A5,0783,596111,657161,552
2023-07-05$33.83$35.0048.8%15.3%37.7%13.4%53.4%3.0%-0.8%-1.8M125.7M-1.3M1.242.93N/AN/A4,9456,145114,243164,181
2023-07-06$32.47$35.0050.5%14.7%39.2%18.4%49.3%3.6%-0.7%-3.9M172.8M-1.3M0.612.81N/AN/A8,3595,105115,953167,991
2023-07-07$34.11$35.0051.2%14.3%42.7%20.4%50.1%2.8%-0.8%-1.5M103.6M-1.4M0.383.21N/AN/A25,3709,687119,512170,597
2023-07-10$34.22$35.0051.1%14.2%42.6%20.1%49.3%3.7%-1.2%-762.1K95.8M-1.4M0.502.71N/AN/A8,7344,379126,302165,377
2023-07-11$34.70$35.0050.5%14.3%42.6%18.4%49.3%3.8%-0.7%14.7K77.9M-1.4M0.734.44N/AN/A6,3104,638130,376167,487
2023-07-12$35.25$35.0049.6%14.0%43.0%15.7%48.8%3.5%-0.8%926.8K54.0M-1.4M1.335.05N/AN/A10,51313,941133,417169,278
2023-07-13$36.69$35.0051.7%14.7%42.8%21.8%50.4%1.6%-0.2%2.8M-12.8M-1.5M0.351.87N/AN/A27,3649,603137,873176,880
2023-07-14$34.50$35.0051.8%14.5%47.9%22.0%50.1%2.9%-1.9%1.4M88.7M-1.4M0.332.01N/AN/A32,59210,712146,168182,264
2023-07-17$35.61$35.0051.6%14.7%49.4%21.7%51.0%2.6%-1.9%1.8M41.3M-1.5M0.372.55N/AN/A13,7125,074146,099178,677
2023-07-18$35.03$35.0051.7%14.8%49.6%21.9%51.5%2.5%-2.0%830.6K68.3M-1.4M0.622.93N/AN/A13,0158,133148,370180,793
2023-07-19$34.84$35.0051.0%14.6%48.1%20.0%56.0%2.7%-1.7%288.3K78.0M-1.4M0.943.28N/AN/A14,16313,304151,957186,696
2023-07-20$32.72$35.0044.4%12.7%52.5%0.8%45.6%1.4%0.1%-4.3M196.2M-1.3M0.743.09N/AN/A26,63119,773159,564195,219
2023-07-21$33.36$35.0042.5%12.1%49.8%0.0%43.1%1.1%0.6%-3.0M178.5M-1.3M0.822.43N/AN/A11,8309,744163,563200,824
2023-07-24$33.78$35.0044.1%12.6%49.5%4.5%45.3%2.3%-0.1%-908.7K116.4M-1.3M0.323.50N/AN/A24,6817,903107,944160,983
2023-07-25$35.70$35.0045.3%13.1%53.0%7.8%46.1%0.9%-0.4%3.2M28.1M-1.5M0.233.09N/AN/A46,27410,749119,667166,061
2023-07-26$34.78$35.0044.7%12.9%52.1%6.2%46.0%0.7%-0.1%2.9M70.1M-1.5M0.423.77N/AN/A10,8924,576129,177168,938
2023-07-27$33.97$35.0044.4%12.8%52.3%5.4%47.1%1.7%0.2%1.9M104.3M-1.4M0.203.50N/AN/A30,6256,043132,567169,688
2023-07-28$34.60$35.0042.4%12.3%52.6%0.0%44.4%1.2%0.3%9.0M76.1M-1.5M0.703.78N/AN/A14,45310,186134,370173,039
2023-07-31$36.25$35.0044.4%12.9%54.9%5.6%45.6%1.0%-0.4%3.1M17.0M-1.5M0.373.38N/AN/A24,6389,192124,993168,805