AA Options History — November 2023

In November 2023, AA traded between $24.51 and $26.91. ATM implied volatility averaged 46.6%, placing in the 24.1% IV rank vs the trailing year. The 30-day expected move averaged 13.7%. IV traded below realized volatility by 5.5% (HV 20d: 52.1%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 1.08.

Notable Days

  • 2023-11-29: Highest Volume — 30,878 contracts
  • 2023-11-20: Largest IV drop — 3.9% change
  • 2023-11-01: Highest IV Rank — 35.6%
  • 2023-11-01: Largest Expected Move — 14.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.97$24.51$26.91$24.93$26.86
Max Pain$25.00$25.00$25.00$25.00$25.00
ATM IV46.6%44.2%49.7%49.7%45.8%
Expected Move13.7%12.7%14.9%14.9%13.7%
HV 20d52.1%38.9%60.1%55.8%38.9%
HV 60d52.4%51.1%53.6%51.1%52.3%
IV Rank24.1%15.4%35.6%35.6%21.8%
IV Percentile19.6%6.7%40.1%40.1%16.3%
Term Structure0.1%-2.5%2.3%0.6%-0.3%
VWIV48.0%44.7%52.0%52.0%48.0%
Skew 25d2.7%0.3%3.8%3.8%2.0%
Skew 10d5.9%2.2%10.6%8.6%5.6%
Call IV 25d46.0%43.1%48.6%48.5%45.6%
Put IV 25d48.7%46.4%52.3%52.3%47.6%
Bid-Ask Spread %4.732.5916.994.513.78
Gamma HHI0.170.130.220.140.18
Net GEX1.3M-673.5K3.3M1.6M2.5M
Net DEX57.6M-2.1M121.5M96.0M19.9M
Net VEX-1.6M-1.7M-1.4M-1.6M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.373.151.701.00
Total Volume17,861.4295,63130,87814,47920,466
Total OI420,094.429388,322445,090423,341426,440

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-11-01$24.93$25.0049.7%14.9%55.8%35.6%52.0%3.8%0.6%1.6M96.0M-1.6M1.704.51N/AN/A5,3549,125206,525216,816
2023-11-02$26.05$25.0048.1%14.2%57.9%29.4%49.9%3.1%0.8%2.4M33.9M-1.7M0.424.17N/AN/A17,9617,588207,886215,496
2023-11-03$26.70$25.0046.9%14.3%57.9%25.1%49.3%2.9%0.9%2.4M1.7M-1.7M0.595.19N/AN/A14,1288,400213,766217,767
2023-11-06$25.99$25.0047.7%14.3%58.6%27.8%49.6%3.3%1.8%2.0M47.9M-1.7M1.182.81N/AN/A6,7487,964208,859212,096
2023-11-07$25.57$25.0046.9%14.1%56.9%24.7%48.9%3.1%2.3%1.3M72.3M-1.6M1.033.27N/AN/A5,7935,972211,507216,438
2023-11-08$25.59$25.0046.2%13.9%56.9%22.2%48.8%2.3%2.2%1.3M72.5M-1.6M1.644.12N/AN/A6,22710,186213,472219,660
2023-11-09$24.51$25.0046.7%13.7%56.8%24.0%48.5%3.5%1.4%-230.2K120.0M-1.5M1.403.01N/AN/A5,2817,383215,641219,440
2023-11-10$24.59$25.0045.4%13.3%56.8%19.0%46.9%3.5%1.3%-673.5K121.5M-1.5M0.693.34N/AN/A12,4278,538217,246219,017
2023-11-13$24.66$25.0046.1%13.3%56.7%22.0%46.8%0.3%0.3%103.3K117.7M-1.4M0.493.97N/AN/A12,7106,192207,287211,931
2023-11-14$26.21$25.0047.6%13.7%60.1%27.6%47.8%3.2%-1.8%2.3M36.2M-1.6M1.023.03N/AN/A13,19213,498210,124214,067
2023-11-15$26.91$25.0049.1%14.1%59.3%33.1%48.6%3.0%-2.5%3.3M-2.1M-1.6M0.803.09N/AN/A11,2488,989212,315219,918
2023-11-16$26.02$25.0047.6%13.7%49.9%27.7%48.9%2.7%-1.0%2.1M45.1M-1.5M1.762.59N/AN/A6,59511,627215,057222,560
2023-11-17$26.21$25.0047.7%13.8%49.4%28.0%48.6%1.6%-1.5%2.6M35.8M-1.6M0.802.82N/AN/A8,6086,864217,679227,411
2023-11-20$26.54$25.0045.8%13.3%48.6%20.9%46.9%2.4%-0.7%840.3K46.8M-1.6M1.017.90N/AN/A8,5928,690190,028198,294
2023-11-21$26.34$25.0045.7%13.0%48.8%21.1%45.9%2.7%-0.2%587.8K56.6M-1.5M3.1516.99N/AN/A3,77211,886194,957202,306
2023-11-22$26.41$25.0044.8%12.8%48.6%17.5%45.1%2.5%-0.5%384.0K55.4M-1.5M1.294.11N/AN/A6,9278,904196,229204,546
2023-11-24$26.38$25.0044.2%12.7%48.4%15.4%44.7%2.9%-0.4%415.8K58.6M-1.5M0.627.41N/AN/A3,4772,154198,983208,170
2023-11-27$26.34$25.0045.3%13.4%48.2%19.5%47.0%2.2%-0.0%741.5K60.2M-1.5M0.373.66N/AN/A12,8824,784191,826200,230
2023-11-28$26.14$25.0045.6%13.3%40.4%20.6%46.2%3.5%-0.1%853.0K66.8M-1.5M0.514.89N/AN/A8,6814,399202,380204,148
2023-11-29$26.41$25.0046.4%13.9%40.2%23.8%48.7%2.1%0.2%1.4M46.4M-1.6M1.274.70N/AN/A13,62817,250206,480206,985
2023-11-30$26.86$25.0045.8%13.7%38.9%21.8%48.0%2.0%-0.3%2.5M19.9M-1.6M1.003.78N/AN/A10,21910,247214,948211,492