AAL Options History — October 2022

In October 2022, AAL traded between $11.93 and $14.34. ATM implied volatility averaged 63.0%, placing in the 50.9% IV rank vs the trailing year. The 30-day expected move averaged 18.2%. IV traded above realized volatility by 9.6% (HV 20d: 53.4%). Max pain ranged from $13.00 to $15.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.86.

Notable Days

2022-10-19: Highest Volume — 275,729 contracts
2022-10-21: Largest IV drop — 7.7% change
2022-10-11: Highest IV Rank — 73.8%
2022-10-11: Largest Expected Move — 21.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.28	$11.93	$14.34	$11.93	$14.21
Max Pain	$14.71	$13.00	$15.00	$13.00	$15.00
ATM IV	63.0%	50.4%	74.0%	69.2%	50.7%
Expected Move	18.2%	14.8%	21.5%	20.7%	14.9%
HV 20d	53.4%	43.2%	61.2%	54.4%	43.2%
HV 60d	48.5%	46.5%	52.9%	50.9%	46.6%
IV Rank	50.9%	24.6%	73.8%	63.7%	25.1%
IV Percentile	66.1%	21.8%	94.8%	87.7%	22.2%
Term Structure	-0.4%	-3.3%	1.6%	-0.5%	0.9%
VWIV	64.3%	50.2%	78.8%	72.6%	50.2%
Skew 25d	9.9%	7.1%	12.3%	10.2%	7.6%
Skew 10d	20.3%	13.7%	26.4%	20.8%	17.0%
Call IV 25d	59.2%	47.2%	70.2%	64.1%	47.2%
Put IV 25d	69.1%	54.7%	81.4%	74.3%	54.8%
Bid-Ask Spread %	2.26	1.53	3.23	3.23	2.73
Gamma HHI	0.11	0.09	0.30	0.12	0.09
Net GEX	-7.8M	-12.3M	8.7M	-12.3M	-8.1M
Net DEX	471.1M	271.2M	711.6M	711.6M	323.4M
Net VEX	-7.1M	-7.3M	-6.8M	-7.0M	-6.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.86	0.54	1.52	0.89	0.64
Total Volume	152,596.286	72,456	275,729	146,571	97,409
Total OI	3,426,614.524	3,281,256	3,590,639	3,281,256	3,442,871

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2022-10-03	$11.93	$13.00	69.2%	20.7%	54.4%	63.7%	72.6%	10.2%	-0.5%	-12.3M	711.6M	-7.0M	0.89	3.23	77,442	69,129	825,670	2,455,586
2022-10-04	$12.90	$13.00	65.2%	19.6%	61.2%	55.4%	68.2%	9.1%	-0.9%	-10.3M	545.4M	-7.2M	0.86	2.54	93,114	79,621	844,507	2,464,459
2022-10-05	$12.94	$13.00	66.3%	19.7%	58.6%	57.7%	69.7%	10.8%	-0.9%	-10.0M	535.5M	-7.2M	1.52	2.16	32,953	50,095	880,722	2,488,820
2022-10-06	$12.75	$15.00	69.3%	19.1%	58.6%	63.9%	70.6%	11.4%	-0.9%	-9.7M	584.7M	-7.3M	1.07	2.16	59,467	63,884	888,315	2,497,183
2022-10-07	$12.18	$15.00	70.6%	19.9%	59.6%	66.6%	70.9%	11.3%	-1.1%	-12.0M	694.8M	-7.1M	0.90	1.53	91,286	81,892	896,424	2,519,781
2022-10-10	$12.08	$15.00	72.9%	20.7%	58.9%	71.6%	78.8%	12.0%	-0.5%	-11.6M	688.5M	-7.0M	0.96	1.82	36,911	35,545	866,287	2,497,792
2022-10-11	$12.28	$15.00	74.0%	21.5%	56.6%	73.8%	74.5%	11.2%	1.3%	-11.1M	645.3M	-7.1M	1.19	1.90	71,118	84,390	878,643	2,507,431
2022-10-12	$12.77	$15.00	73.5%	20.5%	57.7%	72.7%	74.1%	10.6%	-1.8%	-9.4M	542.6M	-7.2M	0.74	1.55	87,863	65,136	893,782	2,497,575
2022-10-13	$13.08	$15.00	71.2%	20.0%	58.0%	68.0%	68.6%	10.9%	-2.1%	-8.4M	499.0M	-7.3M	0.86	1.88	84,570	72,570	907,826	2,522,440
2022-10-14	$13.17	$15.00	70.2%	20.0%	56.6%	65.8%	68.4%	10.9%	-0.2%	-7.4M	456.8M	-7.2M	0.56	1.91	110,027	61,915	925,351	2,547,559
2022-10-17	$13.24	$15.00	68.0%	19.4%	54.9%	61.3%	65.9%	12.3%	-1.3%	-9.5M	497.8M	-7.1M	0.91	3.05	118,399	107,418	895,775	2,504,820
2022-10-18	$13.63	$15.00	63.4%	18.1%	56.0%	51.6%	69.0%	11.4%	-0.7%	-7.6M	386.4M	-7.1M	0.92	1.89	81,508	74,893	935,514	2,518,132
2022-10-19	$13.98	$15.00	61.6%	17.6%	52.8%	47.8%	63.3%	8.2%	-1.7%	-6.3M	306.3M	-7.3M	0.75	1.83	157,449	118,280	947,857	2,549,834
2022-10-20	$13.50	$15.00	60.4%	17.5%	52.5%	45.4%	58.8%	9.6%	-3.3%	-7.5M	447.0M	-7.1M	0.54	3.03	146,885	78,759	996,756	2,570,033
2022-10-21	$13.69	$15.00	55.8%	15.9%	49.2%	35.8%	59.2%	8.2%	0.5%	-5.0M	393.1M	-7.1M	0.72	2.16	119,664	85,693	1,009,371	2,581,268
2022-10-24	$14.08	$15.00	56.1%	16.5%	48.7%	36.4%	57.3%	9.6%	1.3%	-7.8M	338.3M	-7.1M	0.99	2.58	64,803	64,059	904,458	2,449,450
2022-10-25	$14.34	$15.00	52.6%	15.3%	48.5%	29.2%	54.2%	8.7%	0.6%	-6.4M	271.2M	-7.2M	0.78	2.74	69,544	54,565	935,842	2,484,734
2022-10-26	$14.06	$15.00	51.9%	15.4%	47.4%	27.7%	54.0%	8.6%	0.3%	-6.7M	331.7M	-7.0M	0.94	2.06	62,820	58,798	954,373	2,498,656
2022-10-27	$14.04	$15.00	50.4%	15.0%	44.3%	24.6%	50.6%	7.1%	1.6%	-5.5M	343.0M	-6.9M	0.88	2.20	50,380	44,503	969,781	2,507,263
2022-10-28	$14.00	$15.00	50.7%	14.8%	44.0%	25.0%	51.2%	7.5%	0.9%	8.7M	350.6M	-6.8M	0.54	2.61	91,046	48,719	981,044	2,514,920
2022-10-31	$14.21	$15.00	50.7%	14.9%	43.2%	25.1%	50.2%	7.6%	0.9%	-8.1M	323.4M	-6.8M	0.64	2.73	59,411	37,998	948,990	2,493,881