AA Options History — November 2025

In November 2025, AA traded between $35.41 and $41.88. ATM implied volatility averaged 50.9%, placing in the 21.6% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded below realized volatility by 12.5% (HV 20d: 63.3%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.81.

Notable Days

  • 2025-11-26: Highest Volume — 61,456 contracts
  • 2025-11-26: Largest IV drop — 6.8% change
  • 2025-11-20: Highest IV Rank — 27.2%
  • 2025-11-20: Largest Expected Move — 15.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.73$35.41$41.88$37.06$41.68
Max Pain$36.26$35.00$40.00$35.00$38.00
ATM IV50.9%46.9%54.8%50.4%47.2%
Expected Move14.8%13.7%15.9%15.2%13.7%
HV 20d63.3%48.7%71.9%68.7%55.5%
HV 60d52.6%50.8%54.9%51.8%54.9%
IV Rank21.6%15.9%27.2%21.0%16.3%
IV Percentile53.1%23.8%79.0%52.0%24.6%
Term Structure0.2%-3.5%6.0%-1.3%6.0%
VWIV51.3%48.4%55.0%53.6%50.0%
Skew 25d1.6%-1.4%4.2%-1.4%4.2%
Skew 10d4.3%-12.2%14.3%3.8%9.4%
Call IV 25d50.0%44.1%54.9%50.3%44.1%
Put IV 25d51.6%48.3%56.8%48.9%48.3%
Bid-Ask Spread %41.0816.2470.2222.5028.94
Gamma HHI0.120.080.160.100.12
Net GEX2.3M-705.6K6.1M1.3M5.7M
Net DEX-140.6M-291.2M-42.1M-109.5M-290.7M
Net VEX-1.5M-1.5M-1.4M-1.5M-1.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.271.790.630.61
Total Volume15,145.5266,02461,4568,2457,407
Total OI295,019.895265,743316,164285,704315,751

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$37.06$35.0050.4%15.2%68.7%21.0%53.6%-1.4%-1.3%1.3M-109.5M-1.5M0.6322.50N/AN/A5,0623,183147,404138,300
2025-11-04$35.41$35.0050.0%15.0%69.5%20.3%52.6%1.0%0.3%490.1K-53.4M-1.5M0.9026.61N/AN/A5,5114,939149,814139,908
2025-11-05$35.85$35.0051.4%14.7%67.3%22.5%51.4%1.1%-0.7%549.2K-73.5M-1.5M0.5323.28N/AN/A5,2342,796151,388140,406
2025-11-06$36.78$35.0049.7%14.7%68.0%19.9%49.9%1.1%2.6%1.0M-112.5M-1.5M0.5148.62N/AN/A6,0963,129153,725142,475
2025-11-07$37.26$35.0049.3%14.4%65.7%19.4%50.2%0.9%2.0%1.5M-133.3M-1.5M1.4942.78N/AN/A7,74711,519155,740143,111
2025-11-10$38.72$35.0049.6%14.3%66.2%19.9%49.9%1.8%-0.9%4.0M-197.0M-1.5M0.9747.39N/AN/A10,29310,030144,992137,358
2025-11-11$37.62$35.0049.1%14.2%67.0%19.1%49.3%-0.8%0.4%2.5M-141.8M-1.5M0.5333.42N/AN/A7,3443,920149,492144,849
2025-11-12$39.93$35.0050.1%14.6%69.8%20.5%50.8%1.3%0.2%6.0M-257.8M-1.5M0.2751.95N/AN/A19,0725,162156,218145,736
2025-11-13$38.16$40.0051.2%14.6%71.9%22.2%51.0%2.6%-0.3%3.7M-163.1M-1.5M0.6149.18N/AN/A6,3623,852156,071147,735
2025-11-14$37.50$40.0052.4%15.7%71.3%23.8%51.4%1.6%6.0%3.6M-136.4M-1.5M0.8659.63N/AN/A7,5486,478158,338148,710
2025-11-17$35.55$40.0052.3%15.0%66.7%23.7%52.3%1.4%-0.7%284.9K-42.1M-1.4M1.3538.48N/AN/A5,9287,981151,725145,904
2025-11-18$36.49$35.0054.6%15.7%65.2%27.0%53.7%0.8%-3.1%346.8K-82.9M-1.4M0.4816.24N/AN/A4,6662,253153,245149,918
2025-11-19$36.67$35.0053.4%15.3%63.8%25.3%53.3%0.8%-1.5%275.4K-86.9M-1.4M0.7642.47N/AN/A3,4202,604153,906150,585
2025-11-20$35.64$35.0054.8%15.9%48.7%27.2%55.0%1.9%-3.5%-667.5K-44.8M-1.4M0.5370.22N/AN/A12,8916,826154,823151,562
2025-11-21$36.59$35.0053.5%15.6%50.0%25.5%52.5%3.4%-2.8%-705.6K-91.4M-1.4M1.7947.30N/AN/A6,25211,189162,868153,296
2025-11-24$38.81$35.0050.1%14.3%54.7%20.6%50.5%0.5%1.1%3.7M-165.2M-1.5M0.5054.25N/AN/A8,1534,050137,293128,450
2025-11-25$39.35$38.0050.3%14.1%54.8%20.9%49.8%3.2%-0.3%5.0M-197.8M-1.5M0.4630.67N/AN/A5,0702,342141,129129,540
2025-11-26$41.88$38.0046.9%14.2%58.7%15.9%48.4%3.9%0.0%6.1M-291.2M-1.4M1.7046.67N/AN/A22,74638,710142,827130,786
2025-11-28$41.68$38.0047.2%13.7%55.5%16.3%50.0%4.2%6.0%5.7M-290.7M-1.5M0.6128.94N/AN/A4,5952,812156,409159,342