AAL Options History — May 2024

In May 2024, AAL traded between $11.43 and $15.18. ATM implied volatility averaged 35.8%, placing in the 32.8% IV rank vs the trailing year. The 30-day expected move averaged 10.3%. IV traded below realized volatility by 5.9% (HV 20d: 41.7%). Max pain ranged from $13.00 to $15.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.56.

Notable Days

  • 2024-05-29: Highest Volume — 948,386 contracts
  • 2024-05-29: Largest IV spike — 11.8% change
  • 2024-05-29: Highest IV Rank — 51.8%
  • 2024-05-29: Largest Expected Move — 11.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.94$11.43$15.18$13.64$11.48
Max Pain$14.68$13.00$15.00$14.00$13.00
ATM IV35.8%33.4%39.9%36.8%38.1%
Expected Move10.3%9.4%11.8%10.8%11.1%
HV 20d41.7%34.5%62.4%40.1%61.8%
HV 60d38.8%35.1%47.6%36.2%47.5%
IV Rank32.8%21.9%51.8%37.4%43.6%
IV Percentile36.2%13.5%71.0%40.9%60.3%
Term Structure0.1%-1.8%4.0%0.1%-1.6%
VWIV36.1%32.8%41.8%37.8%40.5%
Skew 25d2.2%0.9%5.8%2.1%2.2%
Skew 10d3.9%-5.0%8.1%3.8%-5.0%
Call IV 25d35.2%32.2%38.6%35.7%37.8%
Put IV 25d37.4%35.0%43.4%37.7%40.0%
Bid-Ask Spread %25.0712.0844.0738.4618.88
Gamma HHI0.140.110.220.140.19
Net GEX-10.5M-23.1M-719.3K-11.7M-21.4M
Net DEX225.1M-58.1M821.6M239.3M733.1M
Net VEX-5.6M-6.0M-5.1M-5.5M-6.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.560.543.552.261.56
Total Volume148,891.36441,680948,38698,847233,819
Total OI3,299,962.0913,121,1553,665,7113,121,1553,665,711

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-05-01$13.64$14.0036.8%10.8%40.1%37.4%37.8%2.1%0.1%-11.7M239.3M-5.5M2.2638.4630,32168,526677,5362,443,619
2024-05-02$13.86$14.0035.9%10.2%39.7%33.4%36.0%2.4%-0.0%-9.9M198.4M-5.5M2.9940.5223,48870,293685,9592,487,372
2024-05-03$13.84$14.0034.0%9.4%39.6%24.6%33.4%2.4%0.9%-11.9M231.6M-5.5M1.7044.0726,30144,696689,0572,529,525
2024-05-06$14.66$15.0034.2%10.1%44.3%25.6%35.9%1.5%4.0%-5.0M5.6M-5.1M0.6622.5692,62860,670662,3752,530,394
2024-05-07$14.29$15.0034.5%10.0%45.4%26.8%34.5%3.0%0.0%-6.2M103.4M-5.3M2.2927.4727,10361,931686,1442,549,129
2024-05-08$14.48$15.0034.2%10.1%42.8%25.3%34.6%2.2%0.7%-4.5M68.4M-5.5M0.5426.2727,02514,655693,0942,583,752
2024-05-09$14.48$15.0034.1%10.1%42.4%25.1%34.3%2.4%1.8%-3.8M77.2M-5.6M1.3923.0335,44049,314701,9302,600,914
2024-05-10$14.43$15.0033.4%9.8%39.4%21.9%35.5%2.8%1.5%-2.1M94.4M-5.6M1.5717.4920,45232,175714,7802,616,142
2024-05-13$14.96$15.0035.2%10.1%40.2%30.3%36.2%2.0%-0.2%-2.8M-10.2M-5.6M0.7929.4972,03856,924694,1822,605,924
2024-05-14$15.18$15.0037.3%10.2%40.2%39.9%35.8%1.6%-1.8%-719.3K-58.1M-5.8M0.7121.8659,91542,624711,9872,656,281
2024-05-15$14.96$15.0036.1%10.0%35.0%34.3%35.1%2.5%-1.6%-2.5M-11.3M-5.6M0.8222.9140,76633,464732,3292,671,679
2024-05-16$14.77$15.0036.0%10.0%35.3%33.9%35.6%1.4%-1.5%-3.2M20.0M-5.6M1.6226.2131,30750,603746,8062,681,619
2024-05-17$14.77$15.0036.0%10.0%35.3%34.0%35.0%1.7%-1.8%-8.2M55.4M-5.8M0.6312.0858,80437,116750,1502,711,480
2024-05-20$14.52$15.0036.9%10.5%34.5%37.8%35.0%1.5%-0.8%-10.3M148.2M-5.7M1.1619.3049,37957,049620,1752,502,370
2024-05-21$14.09$15.0035.2%10.0%36.1%30.1%34.9%0.9%0.2%-13.9M229.7M-5.7M2.1823.7151,300111,915645,0692,525,901
2024-05-22$14.11$15.0036.0%10.3%34.6%33.8%32.8%2.5%0.1%-13.8M236.0M-5.8M1.4015.3020,76228,964669,9382,543,350
2024-05-23$13.77$15.0035.4%10.1%35.5%30.9%37.0%2.2%1.5%-16.6M307.0M-5.6M1.5329.8129,68545,545676,2172,550,243
2024-05-24$13.79$15.0034.6%9.9%35.0%27.2%36.4%2.1%0.3%-16.4M316.6M-5.9M1.4223.6824,97735,426685,1942,574,380
2024-05-28$13.46$15.0035.7%10.4%35.7%32.4%35.7%1.8%-1.1%-18.9M378.7M-5.8M1.1432.9857,61365,626671,1662,566,868
2024-05-29$11.61$14.0039.9%11.8%62.4%51.8%41.8%5.8%1.6%-23.1M821.6M-5.7M3.5521.73208,481739,905701,6032,593,453
2024-05-30$11.43$14.0037.9%11.2%62.3%42.5%39.6%1.7%-1.4%-22.7M767.0M-5.8M2.4413.70100,660245,925808,1872,785,182
2024-05-31$11.48$13.0038.1%11.1%61.8%43.6%40.5%2.2%-1.6%-21.4M733.1M-6.0M1.5618.8891,427142,392856,3222,809,389