AAL Options History — March 2026 In March 2026, AAL traded between $10.13 and $12.54. ATM implied volatility averaged 63.8%, placing in the 47.6% IV rank vs the trailing year. The 30-day expected move averaged 18.6%. IV traded above realized volatility by 8.4% (HV 20d: 55.4%). Max pain ranged from $12.00 to $14.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 1.27.
Notable Days 2026-03-09 : Highest Volume — 468,667 contracts2026-03-05 : Largest IV spike — 14.6% change2026-03-30 : Highest IV Rank — 56.9%2026-03-12 : Largest Expected Move — 22.1%Monthly Statistics Metric Avg Min Max Open Close Price $11.02 $10.13 $12.54 $12.50 $10.79 Max Pain $12.61 $12.00 $14.00 $14.00 $12.00 ATM IV 63.8% 55.2% 69.3% 56.0% 65.8% Expected Move 18.6% 17.0% 22.1% 17.2% 18.9% HV 20d 55.4% 46.5% 63.2% 62.8% 53.2% HV 60d 50.2% 47.9% 53.4% 48.2% 53.4% IV Rank 47.6% 32.7% 56.9% 34.0% 50.9% IV Percentile 92.5% 81.7% 97.2% 87.3% 92.5% Term Structure -0.3% -3.2% 4.7% -1.0% -2.1% VWIV 64.0% 59.3% 71.9% 62.0% 67.3% Skew 25d 6.8% 4.8% 9.9% 5.2% 8.8% Skew 10d 13.3% 3.2% 24.8% 9.4% 20.6% Call IV 25d 60.7% 52.9% 65.0% 53.6% 62.6% Put IV 25d 67.5% 58.6% 74.9% 58.8% 71.4% Bid-Ask Spread % 18.17 8.14 48.40 30.72 11.66 Gamma HHI 0.17 0.10 0.24 0.11 0.23 Net GEX -8.5M -12.8M -5.5M -6.6M -6.8M Net DEX 318.9M 141.2M 468.6M 141.2M 239.0M Net VEX -4.4M -4.8M -4.0M -4.0M -4.8M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 1.27 0.66 2.51 2.51 0.66 Total Volume 197,944.909 104,615 468,667 246,046 199,641 Total OI 2,620,414.182 2,041,181 3,008,299 2,041,181 2,639,117
Daily Data (22 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 2026-03-02 $12.50 $14.00 56.0% 17.2% 62.8% 34.0% 62.0% 5.2% -1.0% -6.6M 141.2M -4.0M 2.51 30.72 70,039 176,007 702,309 1,338,872 2026-03-03 $12.54 $14.00 59.0% 17.9% 62.0% 39.3% 63.9% 6.2% -1.2% -7.1M 143.4M -4.2M 1.57 32.56 138,716 217,740 729,569 1,444,730 2026-03-04 $12.46 $13.50 55.2% 17.6% 61.0% 32.7% 61.3% 5.7% -1.0% -6.3M 151.7M -4.3M 2.07 20.46 36,384 75,322 788,708 1,556,896 2026-03-05 $11.73 $14.00 63.3% 17.8% 62.0% 46.6% 66.0% 4.8% -2.8% -10.4M 300.2M -4.3M 1.15 14.03 141,585 162,447 798,402 1,592,884 2026-03-06 $11.18 $13.00 68.7% 19.0% 63.2% 56.0% 67.0% 8.8% -0.3% -9.7M 396.6M -4.3M 1.61 17.37 120,421 193,351 867,334 1,653,551 2026-03-09 $11.39 $13.00 68.5% 18.7% 54.8% 55.6% 67.7% 5.5% 1.1% -8.6M 340.9M -4.4M 1.30 48.40 204,052 264,615 891,364 1,609,713 2026-03-10 $11.16 $13.00 68.5% 18.9% 54.8% 55.7% 66.6% 7.5% -2.0% -7.2M 329.1M -4.4M 0.67 45.17 144,868 96,428 999,347 1,650,790 2026-03-11 $11.11 $13.00 65.1% 18.5% 54.6% 49.7% 64.9% 6.6% -0.5% -6.8M 334.9M -4.4M 1.40 13.38 48,846 68,603 1,060,603 1,672,946 2026-03-12 $10.55 $13.00 65.9% 22.1% 53.7% 51.2% 65.0% 4.8% -2.1% -10.9M 464.5M -4.3M 1.19 9.64 70,318 83,720 1,075,581 1,718,996 2026-03-13 $10.32 $13.00 66.1% 21.8% 53.7% 51.5% 66.1% 5.9% 2.5% -10.1M 468.6M -4.3M 1.94 12.10 52,638 102,230 1,105,945 1,715,179 2026-03-16 $10.46 $12.00 65.1% 18.7% 54.6% 49.8% 63.4% 6.3% 4.7% -11.1M 448.2M -4.3M 0.77 9.83 112,936 86,485 1,020,085 1,706,816 2026-03-17 $10.86 $12.00 59.3% 17.1% 54.3% 39.8% 59.3% 5.7% 2.9% -10.2M 350.3M -4.6M 0.82 9.34 120,199 98,326 1,084,728 1,752,954 2026-03-18 $10.82 $12.00 59.7% 17.0% 54.3% 40.4% 60.4% 7.8% 2.7% -9.5M 324.3M -4.5M 1.19 16.50 54,225 64,319 1,136,275 1,783,830 2026-03-19 $10.96 $12.00 59.7% 17.3% 52.8% 40.4% 60.0% 6.0% 1.8% -9.6M 321.6M -4.7M 1.31 16.87 56,886 74,473 1,145,828 1,823,067 2026-03-20 $10.39 $12.00 64.1% 18.2% 54.1% 48.0% 62.5% 6.0% 0.3% -12.8M 441.3M -4.5M 0.72 14.05 60,768 43,847 1,165,150 1,843,149 2026-03-23 $10.86 $12.00 61.6% 17.7% 56.6% 43.7% 59.9% 7.6% -0.8% -5.5M 246.8M -4.7M 0.85 9.55 108,970 92,091 889,692 1,586,943 2026-03-24 $10.73 $12.00 65.7% 18.0% 56.0% 50.8% 62.3% 9.2% -0.5% -6.0M 273.9M -4.6M 0.83 12.10 75,028 62,103 926,929 1,612,584 2026-03-25 $10.71 $12.00 65.4% 18.8% 55.4% 50.3% 62.7% 8.2% -1.9% -5.8M 260.9M -4.7M 0.66 16.55 68,064 45,000 969,460 1,638,526 2026-03-26 $10.64 $12.00 65.2% 18.7% 51.1% 49.9% 61.5% 6.9% -0.5% -7.9M 294.0M -4.6M 2.50 15.82 50,104 125,367 980,375 1,652,946 2026-03-27 $10.21 $12.00 67.6% 19.1% 47.7% 54.0% 67.4% 7.3% -3.2% -8.2M 370.2M -4.5M 1.37 15.41 50,088 68,686 1,012,956 1,753,385 2026-03-30 $10.13 $12.00 69.3% 19.9% 46.5% 56.9% 71.9% 9.9% -2.8% -9.3M 374.3M -4.4M 0.89 8.14 89,429 79,423 934,011 1,616,587 2026-03-31 $10.79 $12.00 65.8% 18.9% 53.2% 50.9% 67.3% 8.8% -2.1% -6.8M 239.0M -4.8M 0.66 11.66 120,513 79,128 973,678 1,665,439
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