AAL Options History — May 2019

In May 2019, AAL traded between $27.27 and $34.84. ATM implied volatility averaged 34.4%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 9.9%. IV traded above realized volatility by 6.1% (HV 20d: 28.2%). Max pain ranged from $33.00 to $34.00. Net GEX was positive for 8 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.67.

Notable Days

  • 2019-05-23: Highest Volume — 129,718 contracts
  • 2019-05-07: Largest IV spike — 12.7% change
  • 2019-05-31: Highest IV Rank — 34.0%
  • 2019-05-31: Largest Expected Move — 11.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.68$27.27$34.84$34.00$27.27
Max Pain$33.59$33.00$34.00$33.00$33.00
ATM IV34.4%29.6%39.9%29.6%39.9%
Expected Move9.9%8.6%11.8%8.6%11.8%
HV 20d28.2%23.4%32.2%24.7%30.8%
HV 60d27.9%26.3%29.4%26.4%29.1%
IV Rank18.9%5.6%34.0%5.6%34.0%
IV Percentile39.7%9.9%69.0%9.9%69.0%
Term Structure-0.1%-1.2%1.0%0.8%-1.2%
VWIV34.4%30.8%41.7%30.8%41.7%
Skew 25d4.0%2.2%5.2%2.2%4.8%
Skew 10d8.0%5.4%10.7%5.4%9.5%
Call IV 25d32.9%28.9%38.6%28.9%38.6%
Put IV 25d36.9%31.1%43.5%31.1%43.5%
Bid-Ask Spread %3.212.096.103.122.09
Gamma HHI0.100.060.200.090.15
Net GEX1.6M-5.1M13.7M9.4M-3.8M
Net DEX113.8M-179.9M378.2M-77.0M378.2M
Net VEX-2.8M-3.2M-2.4M-3.1M-2.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.231.401.021.16
Total Volume41,026.77317,323129,71822,00634,326
Total OI640,783.455496,275685,375657,153685,375

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-05-01$34.00$33.0029.6%8.6%24.7%5.6%30.8%2.2%0.8%9.4M-77.0M-3.1M1.023.1210,91511,091396,572260,581
2019-05-02$33.97$33.0030.7%9.1%23.7%8.7%32.0%3.1%0.2%9.0M-66.4M-3.1M1.052.2114,59815,313397,595263,988
2019-05-03$34.84$33.0030.1%8.8%25.2%7.1%31.2%2.9%0.2%13.7M-179.9M-3.2M1.022.2419,91920,266399,193264,979
2019-05-06$34.69$34.0032.0%9.2%25.3%12.2%32.5%3.9%0.3%10.8M-137.1M-3.1M0.623.9513,1388,184391,201264,306
2019-05-07$33.84$34.0036.0%10.2%26.8%23.4%35.9%4.7%-0.7%6.9M-33.3M-3.1M0.315.5727,6688,501387,438267,820
2019-05-08$33.89$34.0035.0%9.8%26.2%20.6%34.4%4.3%-0.8%7.2M-41.1M-3.1M0.236.1028,1396,394393,897269,454
2019-05-09$33.97$34.0035.3%10.0%24.7%21.4%35.0%5.2%-0.1%7.6M-41.9M-3.1M0.283.9228,0067,713397,163269,481
2019-05-10$33.97$34.0033.8%9.5%23.4%17.3%34.2%3.9%-0.9%7.4M-39.1M-3.1M0.535.1516,0028,425398,284270,220
2019-05-13$32.14$34.0037.9%10.7%30.3%28.4%37.0%4.8%-0.1%-560.1K134.0M-2.8M0.262.8955,14314,514390,424264,976
2019-05-14$32.32$34.0034.3%9.9%29.2%18.6%33.7%4.1%0.4%-356.5K124.1M-2.8M0.582.3032,61819,046398,991271,865
2019-05-15$32.23$34.0033.2%9.5%29.0%15.6%32.1%3.9%0.0%-663.2K138.0M-2.8M0.622.3110,6846,639402,107274,306
2019-05-16$32.26$34.0030.8%9.1%28.5%9.0%32.3%3.6%1.0%-406.3K134.0M-2.8M1.402.7510,57014,793399,972274,055
2019-05-17$31.76$34.0031.8%9.2%28.9%11.6%32.3%3.5%0.2%-1.6M189.3M-2.7M0.592.4116,5659,760402,384279,302
2019-05-20$30.96$34.0034.5%9.9%28.9%19.2%34.6%4.4%0.5%-2.4M176.7M-2.6M0.632.8023,86615,013271,689224,586
2019-05-21$31.34$34.0032.1%9.2%28.4%12.6%31.5%3.5%0.8%-1.6M147.8M-2.6M0.343.4934,04011,560280,393232,367
2019-05-22$29.88$34.0034.4%9.9%32.2%18.8%34.5%3.9%-0.0%-4.4M236.6M-2.4M1.094.6632,66535,599290,816235,275
2019-05-23$29.49$33.0037.4%10.7%32.1%27.1%37.0%4.3%-0.2%-4.3M248.8M-2.6M0.743.3574,50855,210310,498255,268
2019-05-24$29.11$33.0035.7%10.2%32.2%22.4%34.9%3.7%0.3%-5.1M279.9M-2.9M0.332.6344,51714,861362,595303,164
2019-05-28$28.53$33.0036.8%10.5%31.2%25.5%35.9%4.4%-0.9%-4.2M310.9M-2.7M0.402.2315,3286,065360,440298,442
2019-05-29$28.41$33.0037.7%10.9%30.0%28.1%37.9%4.8%-0.7%-3.7M306.6M-2.7M0.442.1124,94010,892364,326298,205
2019-05-30$28.14$33.0037.6%10.8%30.0%27.7%35.7%4.3%-0.5%-3.4M315.2M-2.7M1.112.4516,38318,212373,091300,152
2019-05-31$27.27$33.0039.9%11.8%30.8%34.0%41.7%4.8%-1.2%-3.8M378.2M-2.6M1.162.0915,92118,405378,252307,123