AEO Options History — August 2018

In August 2018, AEO traded between $24.57 and $28.95. ATM implied volatility averaged 47.3%, placing in the 43.4% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded above realized volatility by 10.5% (HV 20d: 36.8%). Max pain ranged from $23.00 to $25.00. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 2 of 23 days. Put/call ratio averaged 0.83.

Notable Days

2018-08-29: Highest Volume — 25,290 contracts
2018-08-29: Largest IV drop — 27.7% change
2018-08-15: Highest IV Rank — 53.9%
2018-08-28: Largest Expected Move — 14.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.95	$24.57	$28.95	$24.62	$25.97
Max Pain	$24.52	$23.00	$25.00	$24.00	$25.00
ATM IV	47.3%	34.5%	51.5%	50.6%	34.5%
Expected Move	12.7%	9.8%	14.9%	11.2%	9.8%
HV 20d	36.8%	31.1%	49.4%	37.7%	49.4%
HV 60d	35.2%	33.1%	40.6%	34.5%	40.6%
IV Rank	43.4%	11.6%	53.9%	51.8%	11.6%
IV Percentile	68.8%	11.5%	82.1%	77.0%	11.5%
Term Structure	-1.8%	-4.0%	1.2%	-2.5%	-2.1%
VWIV	45.0%	34.9%	52.7%	38.9%	34.9%
Skew 25d	4.2%	2.5%	6.0%	5.9%	2.5%
Skew 10d	10.9%	5.2%	16.6%	12.5%	16.6%
Call IV 25d	45.6%	32.4%	51.3%	48.4%	32.4%
Put IV 25d	49.8%	34.8%	54.5%	54.3%	34.8%
Bid-Ask Spread %	18.89	7.43	28.97	16.42	28.06
Gamma HHI	0.16	0.11	0.44	0.15	0.44
Net GEX	706.3K	-1.7M	1.3M	570.0K	-1.6M
Net DEX	-61.3M	-92.7M	-1.4M	-42.1M	-29.6M
Net VEX	-168.6K	-214.2K	-136.2K	-214.2K	-171.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.83	0.32	1.71	0.38	0.37
Total Volume	10,539.391	4,863	25,290	10,097	12,847
Total OI	73,737.957	54,137	88,303	77,448	88,303

Daily Data (23 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
2018-08-01	$24.62	$24.00	50.6%	11.2%	37.7%	51.8%	38.9%	5.9%	-2.5%	570.0K	-42.1M	-214.2K	0.38	16.42	7,309	2,788	43,495	33,953
2018-08-02	$25.28	$24.00	49.3%	10.6%	37.8%	48.4%	37.1%	4.6%	-3.7%	820.0K	-53.3M	-207.9K	0.36	12.54	7,336	2,610	43,558	34,311
2018-08-03	$25.53	$24.00	50.7%	10.8%	36.7%	52.0%	37.6%	5.2%	-4.0%	1.0M	-57.3M	-205.1K	0.33	13.27	7,308	2,407	43,630	34,236
2018-08-06	$25.99	$23.00	49.7%	13.1%	37.1%	49.3%	42.8%	6.0%	-2.0%	957.1K	-64.6M	-192.7K	0.32	15.98	7,270	2,329	43,370	34,070
2018-08-07	$26.25	$23.00	49.2%	13.0%	37.1%	48.1%	47.7%	4.5%	-1.8%	1.1M	-69.5M	-184.6K	0.58	18.28	3,553	2,050	43,568	34,071
2018-08-08	$26.51	$23.00	47.8%	12.8%	35.7%	44.8%	45.6%	4.1%	-1.8%	1.2M	-73.8M	-184.4K	0.59	19.04	3,635	2,137	44,831	34,123
2018-08-09	$26.72	$24.00	47.5%	12.8%	31.4%	43.9%	45.2%	3.7%	-2.9%	1.3M	-78.5M	-177.0K	0.89	19.54	2,625	2,347	44,757	34,407
2018-08-10	$27.46	$24.00	47.3%	13.1%	32.0%	43.3%	46.9%	4.5%	-1.4%	1.3M	-87.8M	-167.3K	1.30	28.59	2,116	2,747	44,793	34,571
2018-08-13	$27.37	$25.00	49.4%	13.5%	32.2%	48.7%	47.4%	4.9%	-1.4%	1.3M	-85.1M	-168.2K	0.89	16.58	2,591	2,298	44,507	33,581
2018-08-14	$28.13	$25.00	49.3%	13.5%	32.1%	48.5%	48.0%	5.9%	-2.1%	1.3M	-92.7M	-165.6K	1.09	13.97	2,435	2,643	44,698	33,959
2018-08-15	$26.81	$25.00	51.5%	14.0%	37.7%	53.9%	50.1%	2.9%	-2.3%	1.3M	-77.8M	-172.2K	0.33	28.97	13,480	4,488	45,571	34,887
2018-08-16	$27.04	$25.00	50.1%	13.5%	37.7%	50.3%	47.6%	4.2%	-2.6%	887.8K	-72.3M	-153.7K	0.35	20.89	12,794	4,447	40,012	36,949
2018-08-17	$27.90	$25.00	49.1%	13.5%	37.3%	48.0%	46.8%	3.3%	-3.2%	1.3M	-84.5M	-147.3K	1.71	19.00	2,626	4,500	40,738	37,042
2018-08-20	$28.81	$25.00	46.7%	13.1%	36.8%	41.9%	46.5%	3.8%	-0.5%	850.6K	-70.6M	-136.2K	0.83	16.33	3,895	3,224	32,671	21,466
2018-08-21	$28.95	$25.00	47.5%	13.5%	36.1%	44.0%	47.8%	4.8%	-1.9%	892.8K	-73.1M	-136.2K	1.55	14.64	3,029	4,706	34,078	22,651
2018-08-22	$28.79	$25.00	47.2%	13.5%	34.2%	43.2%	47.0%	5.0%	-2.8%	880.5K	-70.0M	-140.4K	1.05	18.07	3,383	3,541	34,573	24,760
2018-08-23	$28.73	$25.00	47.7%	13.8%	34.4%	44.5%	47.2%	4.2%	-1.0%	924.6K	-69.8M	-145.5K	1.10	15.70	3,000	3,311	35,716	25,540
2018-08-24	$28.41	$25.00	49.4%	14.2%	31.1%	48.6%	49.8%	2.6%	-0.1%	612.8K	-66.0M	-146.1K	0.92	25.02	4,232	3,891	35,984	25,847
2018-08-27	$27.15	$25.00	51.3%	14.8%	36.1%	53.3%	52.4%	4.2%	-1.7%	776.8K	-40.7M	-155.4K	1.21	27.57	9,828	11,902	30,889	23,565
2018-08-28	$27.42	$25.00	49.6%	14.9%	36.1%	49.2%	52.7%	3.5%	-0.9%	697.1K	-42.8M	-177.3K	0.76	18.07	12,119	9,154	37,921	31,271
2018-08-29	$25.55	$25.00	35.9%	10.1%	43.9%	15.1%	36.9%	3.6%	1.2%	-1.7M	-5.6M	-163.9K	1.51	7.43	10,058	15,232	46,893	39,034
2018-08-30	$24.57	$25.00	36.2%	10.1%	45.2%	15.9%	39.0%	2.9%	0.5%	-383.0K	-1.4M	-165.7K	0.67	20.62	7,299	4,886	51,406	35,717
2018-08-31	$25.97	$25.00	34.5%	9.8%	49.4%	11.6%	34.9%	2.5%	-2.1%	-1.6M	-29.6M	-171.1K	0.37	28.06	9,398	3,449	52,062	36,241