AAL Options History — April 2019

In April 2019, AAL traded between $32.41 and $34.84. ATM implied volatility averaged 37.0%, placing in the 26.1% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 9.1% (HV 20d: 27.9%). Max pain ranged from $33.00 to $33.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.55.

Notable Days

  • 2019-04-03: Highest Volume — 137,882 contracts
  • 2019-04-26: Largest IV drop — 16.5% change
  • 2019-04-08: Highest IV Rank — 32.0%
  • 2019-04-22: Largest Expected Move — 11.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.84$32.41$34.84$32.41$34.27
Max Pain$33.00$33.00$33.00$33.00$33.00
ATM IV37.0%30.2%39.1%38.1%30.2%
Expected Move10.6%8.9%11.5%10.5%8.9%
HV 20d27.9%25.1%29.7%29.1%25.1%
HV 60d30.2%26.2%35.6%35.6%26.5%
IV Rank26.1%7.4%32.0%29.1%7.4%
IV Percentile53.8%13.9%65.5%58.3%13.9%
Term Structure-1.1%-2.1%0.5%-0.8%0.5%
VWIV36.9%31.3%40.3%36.7%31.3%
Skew 25d2.8%2.0%3.3%3.2%2.5%
Skew 10d5.5%3.7%7.1%6.7%5.6%
Call IV 25d36.1%29.5%38.4%36.9%29.5%
Put IV 25d38.9%32.0%40.9%40.1%32.0%
Bid-Ask Spread %4.252.0610.032.163.61
Gamma HHI0.100.050.180.050.10
Net GEX9.3M2.1M18.4M2.1M10.1M
Net DEX-102.9M-246.4M24.2M23.7M-102.2M
Net VEX-3.3M-3.6M-3.0M-3.0M-3.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.550.261.070.260.71
Total Volume43,616.8113,624137,88269,54926,700
Total OI663,412.095579,826709,522579,826647,661

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-04-01$32.41$33.0038.1%10.5%29.1%29.1%36.7%3.2%-0.8%2.1M23.7M-3.0M0.262.1655,30614,243329,139250,687
2019-04-02$33.00$33.0037.1%10.1%29.7%26.3%37.7%2.7%-0.8%7.8M-44.2M-3.0M0.673.5847,30831,881342,914251,355
2019-04-03$33.68$33.0038.7%10.7%29.5%30.7%37.0%2.0%-0.8%11.7M-137.7M-3.3M0.312.06105,05432,828364,776259,245
2019-04-04$33.88$33.0038.8%10.8%28.7%31.1%37.2%2.5%-0.8%14.3M-167.8M-3.5M0.286.4561,61017,243410,855276,167
2019-04-05$34.00$33.0038.4%10.7%28.6%29.9%36.9%2.6%-1.1%18.4M-194.2M-3.6M0.542.7128,37115,372421,945280,699
2019-04-08$33.83$33.0039.1%10.8%28.8%32.0%37.4%3.3%-1.2%8.7M-120.1M-3.5M0.613.1621,01012,748407,248274,360
2019-04-09$33.30$33.0039.0%11.0%27.1%31.5%38.0%2.6%-0.7%5.8M-48.7M-3.4M0.615.9922,07613,378409,939281,366
2019-04-10$34.10$33.0038.9%10.8%27.4%31.4%37.7%3.1%-1.4%10.1M-151.7M-3.5M0.412.4726,68110,965411,377283,230
2019-04-11$34.84$33.0037.6%10.5%28.1%27.8%36.6%3.3%-1.4%16.0M-246.4M-3.6M0.692.5230,92521,305416,289284,388
2019-04-12$34.74$33.0036.9%10.3%27.0%25.7%35.9%2.6%-1.7%12.0M-225.7M-3.6M0.542.3823,98513,066418,389291,133
2019-04-15$33.81$33.0038.4%10.9%29.2%29.8%37.9%3.1%-1.9%7.7M-80.5M-3.3M1.078.788,6499,253402,653279,509
2019-04-16$33.99$33.0038.0%10.8%29.2%28.8%37.8%2.6%-1.4%8.1M-96.7M-3.3M0.4410.0323,62110,479406,413283,266
2019-04-17$34.40$33.0037.8%10.8%28.6%28.4%37.7%2.9%-2.1%11.6M-151.7M-3.4M0.649.7715,5809,960414,852287,141
2019-04-18$34.34$33.0036.3%10.5%28.5%24.0%36.2%2.5%-1.0%9.5M-140.1M-3.4M0.582.1813,6497,902415,655288,758
2019-04-22$33.47$33.0038.5%11.5%28.0%30.3%40.3%3.0%-0.9%6.5M-36.6M-3.2M0.512.8510,2205,219376,357250,664
2019-04-23$34.05$33.0037.9%11.3%27.7%28.5%39.4%2.6%-1.6%8.5M-90.2M-3.2M0.482.5411,1275,375378,383253,270
2019-04-24$34.09$33.0037.8%11.4%27.4%28.2%40.2%2.9%-1.7%9.0M-98.6M-3.2M0.435.209,5164,108382,228255,146
2019-04-25$33.50$33.0037.6%11.4%26.6%27.8%39.8%3.0%-2.0%6.8M-32.1M-3.1M0.694.2926,87818,488386,491256,709
2019-04-26$33.17$33.0031.4%9.0%26.7%10.7%31.6%2.8%-0.4%3.9M24.2M-3.0M0.572.4746,59726,776393,420266,121
2019-04-29$33.75$33.0031.1%9.2%25.2%9.7%32.6%2.4%0.2%7.5M-44.3M-3.1M0.464.0514,0156,486385,395256,061
2019-04-30$34.27$33.0030.2%8.9%25.1%7.4%31.3%2.5%0.5%10.1M-102.2M-3.1M0.713.6115,60411,096389,837257,824