AEO Options History — October 2018

In October 2018, AEO traded between $20.88 and $24.25. ATM implied volatility averaged 43.6%, placing in the 34.1% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded above realized volatility by 10.0% (HV 20d: 33.6%). Max pain ranged from $23.00 to $25.00. Net GEX was positive for 4 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 1.73.

Notable Days

2018-10-11: Highest Volume — 12,827 contracts
2018-10-10: Largest IV spike — 12.0% change
2018-10-29: Highest IV Rank — 49.1%
2018-10-30: Largest Expected Move — 15.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.19	$20.88	$24.25	$24.25	$23.14
Max Pain	$23.26	$23.00	$25.00	$25.00	$23.00
ATM IV	43.6%	36.4%	49.6%	36.4%	46.3%
Expected Move	12.8%	10.5%	15.1%	10.5%	14.3%
HV 20d	33.6%	30.6%	36.7%	33.6%	33.1%
HV 60d	40.3%	39.2%	41.5%	40.0%	40.2%
IV Rank	34.1%	16.3%	49.1%	16.3%	40.8%
IV Percentile	58.9%	30.6%	78.2%	30.6%	64.7%
Term Structure	2.2%	-2.7%	14.5%	1.1%	8.6%
VWIV	44.9%	36.6%	54.3%	36.6%	50.8%
Skew 25d	3.7%	1.8%	5.5%	1.8%	4.5%
Skew 10d	8.8%	3.5%	18.2%	5.1%	4.9%
Call IV 25d	42.3%	35.8%	51.6%	35.8%	43.5%
Put IV 25d	46.0%	37.6%	56.0%	37.6%	48.0%
Bid-Ask Spread %	16.53	9.85	25.65	14.33	20.33
Gamma HHI	0.18	0.12	0.24	0.22	0.21
Net GEX	-97.9K	-568.7K	872.5K	860.6K	-80.3K
Net DEX	3.0M	-23.3M	21.2M	-23.3M	-10.2M
Net VEX	-144.6K	-155.5K	-136.1K	-145.1K	-136.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.73	0.75	5.18	1.27	1.27
Total Volume	5,855.261	3,347	12,827	3,894	4,253
Total OI	60,673.174	54,545	68,407	54,545	58,697

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
2018-10-01	$24.25	$25.00	36.4%	10.5%	33.6%	16.3%	36.6%	1.8%	1.1%	860.6K	-23.3M	-145.1K	1.27	14.33	1,714	2,180	28,724	25,821
2018-10-02	$22.98	$25.00	38.7%	11.2%	36.7%	22.1%	39.5%	1.8%	-1.5%	872.5K	-8.4M	-141.9K	0.75	17.32	4,402	3,300	29,327	26,196
2018-10-03	$22.70	$25.00	38.7%	11.2%	36.6%	21.9%	39.3%	2.3%	0.5%	253.0K	-2.5M	-141.0K	2.87	17.70	1,912	5,482	27,368	27,698
2018-10-04	$22.20	$23.00	39.4%	11.6%	33.5%	23.7%	40.3%	3.7%	0.1%	-102.3K	6.0M	-149.4K	1.71	11.77	1,580	2,707	28,159	31,376
2018-10-05	$22.30	$23.00	38.4%	11.7%	33.6%	21.4%	41.0%	2.8%	1.3%	-99.8K	4.9M	-150.7K	1.55	25.65	1,591	2,474	28,281	31,685
2018-10-08	$21.81	$23.00	40.5%	11.9%	32.1%	26.5%	42.3%	2.6%	1.3%	-181.2K	7.7M	-141.4K	1.53	10.71	1,535	2,341	27,188	30,837
2018-10-09	$21.71	$23.00	40.9%	11.9%	32.1%	27.4%	43.3%	4.0%	0.2%	-181.6K	7.9M	-140.5K	1.23	11.63	1,500	1,847	27,479	30,832
2018-10-10	$21.26	$23.00	45.8%	13.4%	32.4%	39.6%	45.8%	3.5%	0.5%	-210.4K	11.1M	-138.4K	2.46	12.32	3,457	8,513	27,601	31,026
2018-10-11	$20.88	$23.00	46.6%	13.4%	32.6%	41.8%	45.8%	4.5%	0.4%	-300.1K	18.2M	-147.1K	5.18	22.54	2,074	10,753	29,106	35,832
2018-10-12	$21.25	$23.00	44.8%	13.1%	33.8%	37.1%	44.4%	4.0%	1.7%	-409.6K	18.3M	-155.2K	3.66	15.50	1,851	6,772	29,675	38,091
2018-10-15	$21.77	$23.00	45.0%	13.0%	31.2%	37.6%	45.9%	3.9%	-1.7%	-352.5K	10.9M	-155.5K	1.11	14.51	2,798	3,100	28,913	37,068
2018-10-16	$21.67	$23.00	43.4%	12.5%	31.2%	33.8%	43.4%	2.7%	-1.1%	-283.7K	11.4M	-153.0K	1.08	19.16	2,972	3,200	30,160	37,196
2018-10-17	$21.52	$23.00	43.6%	12.5%	30.6%	34.4%	43.6%	3.6%	-0.9%	-209.8K	13.4M	-151.6K	1.25	9.85	2,596	3,236	30,443	37,421
2018-10-18	$20.94	$23.00	44.7%	12.9%	31.4%	37.1%	44.7%	5.5%	-1.5%	-310.7K	21.2M	-144.7K	1.81	17.68	1,764	3,193	30,643	37,764
2018-10-19	$21.04	$23.00	43.3%	12.6%	31.6%	33.4%	43.3%	3.7%	-2.7%	-568.7K	20.4M	-142.4K	2.97	11.16	1,718	5,108	30,656	37,735
2018-10-22	$22.04	$23.00	43.9%	12.8%	36.7%	34.9%	44.7%	3.2%	14.5%	-339.8K	2.8M	-142.4K	1.30	13.31	2,340	3,045	24,797	32,258
2018-10-23	$22.03	$23.00	44.3%	13.7%	36.3%	36.0%	46.9%	4.2%	11.8%	-221.3K	1.8M	-142.5K	1.18	24.53	1,880	2,216	25,452	32,255
2018-10-24	$22.47	$23.00	44.7%	13.8%	35.2%	37.0%	48.0%	4.4%	1.9%	-158.1K	-3.4M	-146.3K	1.39	13.08	1,819	2,523	25,698	32,454
2018-10-25	$22.54	$23.00	46.9%	13.5%	35.1%	42.5%	47.4%	5.0%	4.2%	-149.8K	-3.7M	-143.0K	1.47	15.27	1,676	2,462	25,804	32,729
2018-10-26	$23.01	$23.00	47.4%	14.3%	36.1%	43.6%	50.3%	3.6%	-1.4%	-39.5K	-8.7M	-142.4K	0.76	22.85	2,921	2,229	25,916	32,965
2018-10-29	$23.04	$23.00	49.6%	14.5%	35.4%	49.1%	52.3%	4.4%	6.5%	-100.8K	-9.3M	-138.6K	0.96	22.06	2,392	2,287	25,326	32,538
2018-10-30	$23.78	$23.00	48.5%	15.1%	31.8%	46.4%	54.3%	4.3%	6.8%	62.7K	-16.4M	-136.1K	1.03	16.83	2,438	2,520	25,681	32,612
2018-10-31	$23.14	$23.00	46.3%	14.3%	33.1%	40.8%	50.8%	4.5%	8.6%	-80.3K	-10.2M	-136.1K	1.27	20.33	1,874	2,379	25,844	32,853