AAL Options History — April 2026

In April 2026, AAL traded between $10.79 and $12.79. ATM implied volatility averaged 58.2%, placing in the 46.6% IV rank vs the trailing year. The 30-day expected move averaged 16.7%. IV traded above realized volatility by 5.5% (HV 20d: 52.7%). Max pain ranged from $12.00 to $14.00. Net GEX was positive for 4 of 14 trading days. Term structure was in contango for 1 of 14 days. Put/call ratio averaged 0.83.

Notable Days

  • 2026-04-17: Highest Volume — 343,716 contracts
  • 2026-04-08: Largest IV drop — 10.6% change
  • 2026-04-21: Highest IV Rank — 69.0%
  • 2026-04-07: Largest Expected Move — 18.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.59$10.79$12.79$11.14$11.63
Max Pain$13.00$12.00$14.00$12.00$13.00
ATM IV58.2%54.8%64.6%61.2%60.3%
Expected Move16.7%15.7%18.5%17.5%17.3%
HV 20d52.7%48.0%56.2%55.0%56.2%
HV 60d55.0%53.6%57.2%53.7%57.2%
IV Rank46.6%34.5%69.0%43.0%69.0%
IV Percentile83.5%75.0%90.5%87.3%90.5%
Term Structure-0.9%-2.9%0.1%-1.4%0.1%
VWIV57.9%54.2%63.3%60.2%62.4%
Skew 25d6.4%2.3%8.8%8.7%6.9%
Skew 10d11.5%4.2%18.2%16.6%8.6%
Call IV 25d55.8%52.2%60.8%56.8%59.6%
Put IV 25d62.1%57.2%69.6%65.5%66.5%
Bid-Ask Spread %14.5410.2521.8310.2521.83
Gamma HHI0.160.100.240.180.10
Net GEX-2.2M-6.7M4.5M-3.5M-3.9M
Net DEX60.2M-286.0M255.6M156.9M110.4M
Net VEX-4.6M-4.8M-4.4M-4.8M-4.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.351.880.431.36
Total Volume170,320.57186,075343,716126,024201,006
Total OI2,669,904.0712,505,9612,801,7752,709,9072,590,897

Daily Data (14 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-04-01$11.14$12.0061.2%17.5%55.0%43.0%60.2%8.7%-1.4%-3.5M156.9M-4.8M0.4310.2588,08037,9441,002,6041,707,303
2026-04-02$10.79$14.0059.4%17.0%52.1%39.9%60.2%8.1%-0.5%-6.7M255.6M-4.6M1.2716.0453,51568,0981,014,8361,717,139
2026-04-06$10.89$14.0062.3%17.8%49.6%44.9%58.0%8.1%-2.1%-6.2M218.4M-4.6M0.6811.6674,58051,058960,3401,657,574
2026-04-07$10.82$13.0064.6%18.5%49.1%49.0%63.3%8.8%-2.9%-6.7M248.4M-4.7M1.8814.5063,530119,204979,0291,679,684
2026-04-08$11.41$13.0057.8%16.6%52.3%37.1%55.8%8.2%-0.1%-1.4M75.9M-4.7M0.4915.20159,08577,5261,009,6841,768,100
2026-04-09$11.39$13.0057.6%16.5%52.3%36.8%56.3%8.4%-0.1%-1.3M100.2M-4.6M1.0712.6846,83550,1691,005,7441,765,886
2026-04-10$11.27$13.0056.3%16.1%48.7%34.5%54.2%6.9%-0.4%-5.2M130.5M-4.5M0.4715.0286,16040,1641,015,2551,786,520
2026-04-13$11.16$13.0056.4%16.2%48.0%43.5%55.2%6.7%-0.2%-4.7M174.8M-4.4M0.8911.7745,56540,510910,2461,634,061
2026-04-14$12.13$12.0056.2%16.1%55.7%43.2%56.9%4.5%-1.5%1.9M-75.5M-4.6M0.3812.03236,98391,183930,1141,636,090
2026-04-15$12.23$13.0056.1%16.1%54.5%47.7%56.8%2.3%-0.7%2.8M-115.3M-4.6M0.3513.74108,51537,606996,0651,660,280
2026-04-16$12.34$13.0054.8%15.7%54.4%53.2%55.8%3.8%-1.0%4.5M-137.2M-4.7M0.8211.3852,55342,8761,031,9901,672,244
2026-04-17$12.79$13.0055.6%15.9%55.4%55.4%58.2%4.8%-0.3%956.4K-286.0M-4.6M0.6316.97210,352133,3641,049,5571,691,454
2026-04-20$12.21$13.0055.5%15.9%54.4%55.1%57.8%2.9%-1.2%-1.3M-14.5M-4.6M0.9120.4487,97280,055951,0761,554,885
2026-04-21$11.63$13.0060.3%17.3%56.2%69.0%62.4%6.9%0.1%-3.9M110.4M-4.6M1.3621.8385,298115,708986,3901,604,507