AAL Options History — July 2024

In July 2024, AAL traded between $10.18 and $11.21. ATM implied volatility averaged 45.0%, placing in the 75.5% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded above realized volatility by 16.8% (HV 20d: 28.2%). Max pain ranged from $11.00 to $12.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.05.

Notable Days

  • 2024-07-25: Highest Volume — 572,665 contracts
  • 2024-07-25: Largest IV drop — 18.5% change
  • 2024-07-24: Highest IV Rank — 98.7%
  • 2024-07-24: Largest Expected Move — 15.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$10.79$10.18$11.21$11.02$10.68
Max Pain$11.68$11.00$12.00$12.00$11.00
ATM IV45.0%39.5%50.0%42.5%39.5%
Expected Move12.8%10.7%15.7%10.7%11.3%
HV 20d28.2%18.3%40.3%19.7%40.3%
HV 60d42.7%40.5%43.7%43.6%43.7%
IV Rank75.5%49.8%98.7%63.9%49.8%
IV Percentile86.3%57.9%99.6%79.8%57.9%
Term Structure-1.2%-2.3%0.2%-2.1%-0.8%
VWIV45.0%38.5%55.2%38.5%39.4%
Skew 25d1.3%-1.7%3.7%1.0%1.3%
Skew 10d1.2%-22.9%7.2%-0.7%0.9%
Call IV 25d45.0%38.6%53.9%42.1%39.2%
Put IV 25d46.3%40.5%52.2%43.1%40.5%
Bid-Ask Spread %20.831.9732.4215.3116.81
Gamma HHI0.200.170.250.200.22
Net GEX-20.9M-30.0M-18.2M-19.9M-18.5M
Net DEX614.3M453.0M732.7M577.2M590.8M
Net VEX-6.5M-6.7M-6.1M-6.2M-6.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.050.431.801.000.43
Total Volume155,317.77358,444572,665100,05782,481
Total OI3,649,643.0913,376,2783,924,1433,376,2783,764,885

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-07-01$11.02$12.0042.5%10.7%19.7%63.9%38.5%1.0%-2.1%-19.9M577.2M-6.2M1.0015.3150,11549,942784,4152,591,863
2024-07-02$11.05$12.0043.2%11.4%19.7%67.4%39.9%0.7%-1.8%-21.1M578.0M-6.3M1.3214.0851,21267,422806,3072,627,794
2024-07-03$11.11$12.0043.4%11.9%19.9%68.2%41.4%0.4%-0.7%-21.5M533.6M-6.1M0.7817.5532,76925,675824,1722,668,655
2024-07-05$11.02$12.0045.1%12.5%19.3%75.9%44.3%0.7%-1.3%-20.0M595.8M-6.4M1.5228.4337,17756,353831,7802,693,629
2024-07-08$10.93$12.0045.6%12.7%18.3%78.5%44.7%0.2%-0.9%-21.6M614.6M-6.3M1.0924.9342,66146,331822,1812,685,415
2024-07-09$11.02$12.0046.8%13.1%18.5%83.9%45.9%1.0%-0.3%-19.9M589.2M-6.5M0.6429.1842,80927,347841,9232,713,079
2024-07-10$11.18$12.0046.8%13.5%19.4%83.9%45.7%1.1%0.1%-18.2M542.8M-6.5M1.3430.2380,771108,466860,5032,724,721
2024-07-11$10.70$12.0046.5%12.9%23.9%82.6%45.5%1.5%-1.4%-25.1M712.3M-6.2M0.9831.30149,568146,413894,4062,731,180
2024-07-12$10.71$12.0044.7%12.4%22.7%74.2%45.2%2.2%0.0%-22.5M711.5M-6.4M0.9029.9696,47387,121936,2722,793,622
2024-07-15$10.64$12.0045.8%13.0%22.7%79.4%46.8%1.0%-1.4%-21.9M682.1M-6.5M0.4429.5976,89534,163921,9462,771,932
2024-07-16$11.21$12.0045.2%12.9%29.1%76.5%45.1%2.4%-1.5%-18.4M453.0M-6.5M0.5330.44101,95053,573952,7332,769,208
2024-07-17$11.07$12.0047.7%13.7%28.7%88.1%49.6%0.9%-2.3%-20.8M520.3M-6.6M0.9832.0258,28257,094950,1802,788,525
2024-07-18$10.64$12.0047.7%13.7%31.6%87.9%48.4%0.4%-1.4%-24.3M685.6M-6.5M0.851.9758,51249,891965,8612,810,662
2024-07-19$10.64$12.0048.1%13.8%31.6%89.9%50.3%3.1%-1.1%-18.8M688.4M-6.5M1.084.7143,61547,217983,0462,819,993
2024-07-22$10.73$12.0049.2%14.6%31.8%95.1%50.1%3.5%-2.1%-18.4M596.8M-6.5M0.6413.4682,61853,194844,1122,718,428
2024-07-23$10.50$11.0049.3%14.3%32.5%95.6%50.9%0.5%-1.5%-18.9M641.1M-6.5M1.8012.6947,80186,105878,9752,725,620
2024-07-24$10.18$11.0050.0%15.7%33.9%98.7%55.2%-1.7%-2.0%-19.9M732.7M-6.3M1.3632.42129,134175,507891,9482,748,478
2024-07-25$10.71$11.0040.7%11.8%39.2%55.7%41.2%0.6%0.2%-21.0M585.8M-6.5M1.4116.06237,505335,160977,0952,806,667
2024-07-26$10.59$11.0041.2%11.9%38.8%58.1%41.5%3.7%-0.4%-30.0M632.4M-6.7M1.3621.0172,41098,7221,001,4532,922,690
2024-07-29$10.41$11.0039.8%11.2%39.1%51.6%38.7%1.4%-1.3%-20.2M675.5M-6.5M1.6712.7451,88486,750909,9692,778,475
2024-07-30$10.73$11.0040.7%11.8%40.3%55.8%40.7%2.6%-2.2%-18.5M575.9M-6.7M0.8913.3251,80346,100932,8622,824,488
2024-07-31$10.68$11.0039.5%11.3%40.3%49.8%39.4%1.3%-0.8%-18.5M590.8M-6.7M0.4316.8157,85424,627943,3872,821,498