AEO Options History — February 2019

In February 2019, AEO traded between $19.62 and $21.70. ATM implied volatility averaged 48.6%, placing in the 51.1% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded above realized volatility by 23.5% (HV 20d: 25.1%). Max pain ranged from $19.00 to $21.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.85.

Notable Days

2019-02-27: Highest Volume — 2,794 contracts
2019-02-04: Largest IV spike — 13.2% change
2019-02-27: Highest IV Rank — 59.4%
2019-02-28: Largest Expected Move — 17.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$20.60	$19.62	$21.70	$20.91	$20.46
Max Pain	$20.58	$19.00	$21.00	$21.00	$19.00
ATM IV	48.6%	39.8%	51.5%	39.8%	50.3%
Expected Move	14.8%	13.0%	17.7%	13.3%	17.7%
HV 20d	25.1%	19.4%	30.8%	30.5%	21.6%
HV 60d	43.6%	41.8%	45.2%	44.8%	41.8%
IV Rank	51.1%	26.9%	59.4%	26.9%	56.0%
IV Percentile	71.7%	40.9%	85.7%	40.9%	81.7%
Term Structure	-1.8%	-4.1%	11.4%	11.4%	-2.1%
VWIV	52.0%	45.8%	64.2%	48.1%	64.2%
Skew 25d	5.5%	3.9%	7.5%	4.5%	5.6%
Skew 10d	14.1%	0.7%	31.3%	9.6%	17.5%
Call IV 25d	45.8%	32.8%	48.8%	32.8%	47.5%
Put IV 25d	51.3%	37.4%	54.3%	37.4%	53.1%
Bid-Ask Spread %	17.18	15.25	19.43	18.00	17.76
Gamma HHI	0.23	0.12	0.69	0.32	0.22
Net GEX	207.5K	-747.9K	574.3K	436.7K	441.8K
Net DEX	-3.2M	-8.1M	678.1K	-4.9M	-4.9M
Net VEX	-46.3K	-49.3K	-42.0K	-48.8K	-49.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.85	0.17	1.81	0.75	0.63
Total Volume	1,505.579	420	2,794	1,736	2,491
Total OI	17,855.316	12,473	20,523	19,069	18,361

Daily Data (19 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
2019-02-01	$20.91	$21.00	39.8%	13.3%	30.5%	26.9%	48.1%	4.5%	11.4%	436.7K	-4.9M	-48.8K	0.75	18.00	992	744	9,556	9,513
2019-02-04	$21.27	$21.00	45.1%	13.6%	30.8%	41.0%	48.1%	4.2%	-1.0%	343.2K	-5.8M	-48.3K	0.80	19.43	233	187	9,187	9,342
2019-02-05	$21.70	$21.00	47.2%	13.2%	28.2%	46.7%	45.9%	6.6%	-2.3%	388.7K	-7.8M	-46.9K	0.24	15.62	1,033	251	9,383	9,474
2019-02-06	$21.69	$21.00	48.0%	13.1%	28.2%	48.9%	50.5%	4.4%	-1.9%	541.9K	-8.1M	-48.1K	1.49	16.20	170	253	10,133	9,535
2019-02-07	$21.53	$21.00	48.5%	13.0%	28.5%	50.3%	50.5%	4.3%	-2.8%	574.3K	-7.3M	-48.0K	1.81	17.50	306	553	10,271	9,565
2019-02-08	$21.32	$21.00	48.5%	13.6%	25.0%	50.3%	50.4%	5.2%	-1.1%	392.4K	-6.2M	-47.0K	1.53	18.34	428	655	10,253	9,693
2019-02-11	$21.38	$21.00	49.1%	13.9%	22.8%	52.0%	45.8%	6.7%	-3.1%	459.1K	-6.2M	-45.4K	0.63	17.95	652	408	9,384	9,547
2019-02-12	$20.82	$21.00	48.5%	13.8%	25.2%	50.2%	49.1%	3.9%	-3.0%	345.7K	-3.7M	-46.2K	1.12	16.87	931	1,039	9,812	9,767
2019-02-13	$20.51	$21.00	48.4%	13.9%	26.0%	50.8%	49.1%	5.4%	-3.0%	157.5K	-1.3M	-44.9K	0.86	18.32	726	625	10,207	10,000
2019-02-14	$20.15	$21.00	49.2%	14.2%	26.9%	53.0%	48.8%	4.8%	-3.1%	-255.2K	678.1K	-43.3K	0.83	16.53	590	489	10,304	10,121
2019-02-15	$20.11	$21.00	49.0%	14.4%	26.5%	52.6%	49.2%	4.2%	-3.3%	-747.9K	207.1K	-42.2K	0.94	16.97	1,301	1,224	10,405	10,118
2019-02-19	$19.93	$21.00	48.3%	14.7%	24.4%	50.7%	49.9%	7.1%	-1.8%	21.0K	341.8K	-42.0K	0.17	15.25	2,263	386	6,195	6,278
2019-02-20	$19.96	$20.00	49.2%	15.0%	23.5%	53.1%	52.0%	5.7%	-2.0%	138.4K	-918.6K	-46.4K	0.40	17.21	951	384	8,020	6,535
2019-02-21	$19.62	$20.00	51.1%	15.9%	24.2%	58.2%	52.8%	7.5%	-3.6%	91.6K	-103.9K	-45.0K	0.76	16.55	636	486	8,330	6,644
2019-02-22	$20.01	$20.00	50.0%	15.9%	25.3%	55.4%	54.2%	6.6%	-3.4%	184.3K	-1.1M	-47.3K	0.87	18.18	954	829	8,433	6,807
2019-02-25	$19.95	$20.00	51.0%	17.2%	19.4%	58.0%	59.1%	5.7%	-4.1%	119.4K	-1.1M	-46.2K	0.71	16.98	658	465	8,375	6,920
2019-02-26	$19.80	$20.00	50.6%	17.1%	19.4%	57.0%	59.2%	5.5%	-2.2%	88.3K	-529.1K	-45.9K	1.17	15.94	701	818	8,897	7,296
2019-02-27	$20.19	$20.00	51.5%	17.6%	21.0%	59.4%	62.0%	6.9%	-2.3%	222.1K	-2.4M	-47.5K	0.49	16.89	1,875	919	9,093	7,497
2019-02-28	$20.46	$19.00	50.3%	17.7%	21.6%	56.0%	64.2%	5.6%	-2.1%	441.8K	-4.9M	-49.3K	0.63	17.76	1,529	962	10,299	8,062